Albany, NY -- (SBWIRE) -- 10/02/2018 -- The multiple protection functions of today's protection relays requires a new level of sophisticated test hardware and software to completely analyze the operation of the unit in a "real life" situation. Every facet of relay testing can be handled with the comprehensive line of relay test equipment from different company.

The implementation of smart power grids is one of the top priorities for most countries. It is spreading in developing economies at a rapid rate, and is already being implemented in several parts of developed countries. The scope of relays in an automated power grid is massive at they can help to control all communication and distribution between the consumer and the supplier. This forms the key driver for all relay manufacturers across the globe.

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This market is facing problem as the relays wear out quickly. Relays that are manufactured today wear out quickly due to several reasons that include improper applications, environmental and issues among others. Moreover, they are likely to get damage very quickly due to improper connection. Also, due to heat generation the coils of the circuit get damaged. Further, more involvement of local players into the market is also affecting the demand in the relays.

This is due to the better quality products provided by the local manufacturers that are similar to those products provided by the market leaders. The major opportunity in this market is the development in the existing application areas. Automotive and signal relays are expected to create ample opportunities in the relays market. Moreover, the companies are focusing more on introducing use of environment friendly materials to manufacture relays. For instance, they are introducing products that are lead and cadmium free, as these materials are hazardous for the environment. Thus, introduction of these products is expected to create ample opportunities in the market.

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The global relay tester market is segmented on the basis of type, component, application, industry vertical, and geographical region. On the basis of type, the market is segmented into three phase, single phase, five phase and multiple phase. On the basis of component, the market is segmented into hardware, software and service. By application, relay tester market can be segmented into power utilities, electrical utilities, large industry, rail network and other. In support of industry vertical the global relay tester market is subdivided into automotive, energy & power, heavy industries, rail and shipping, defense and others. Rapid industrialization and growing demand in automotive, power plant, and heavy machineries have propelled the growth in this segment. By geographical region, the global relay tester market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. Rapid development in emerging economies such as India as well as growth in the relay tester and increase in production in industries such as automotive and heavy machinery will support the growth of the market over the forecast period. Several transmission and distribution systems in Asia Pacific are currently under overhaul, which is creating an additional demand for relays and other power grid components. This region is also showing a growing amount of interest in solar, wind, and tidal energy, increasing the need of larger power grids and therefore, relays and other components.

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Mergers & acquisitions, new product launches, investments, and partnerships & developments are the key policies adopted by market players to ensure their growth in the market. The key players are Air Liquide S.A. (France), Messer Group (Germany), Cryotec Anlagenbau Gmbh, Air Products and Chemicals, Inc. (U.S.), Airgas, Inc. (U.S.), Southern Industrial Gas SDN. BHD. (Malaysia), Iwatani Corporation (Japan), nexAir LLC. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Praxair, Inc. (U.S.), MATHESON Tri-Gas Inc, The Linde Group (U.S.), among others.