According to a detailed analysis by Market Research Future (MRFR), the timing relay market is predicted to register a CAGR of 4.50% during the forecast period (2017-2023).
Timing relay is defined as a control device which helps to control the functioning of two events. It is a combination of an electromechanical output relay and a control circuit. Its functions include on-delay, off-delay, repeat cycle, pulse generator, and memory latch, among others. Increasing demand for control devices in end-use industries and growing demand for electrical equipment is likely to drive the market for timing relays.
Competitive Dashboard
The top players dominating the global timing relay market comprises ABB (Switzerland), Siemens (Germany), Schneider (France), General Electric (US), Rockwell (US), Eaton (Ireland), Littlefure (US), Omron (Japan), Mitsubishi Electric (Japan), TE Connectivity (Switzerland), Infitec (Germany), and Fuji Electric (Japan).
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Also acknowledged as time delay relays, timing relays are switches that can be controlled with the help of a circuit. It is precisely used in industrial applications where the timing requires to be locked in and offers reliable and simple control to initiate a motor, affect a process, and control a load. The burgeoning demand for electrical equipment and rising demand for control devices in the utility sector is shaping the timing relay market over the years.
Global Timing Relay Market Segmental Analysis
The timing relay market is segmented on the basis of mounting type, timer, function, and end-user.
The mounting type segment constitutes of panel mounted, and din rail mounted. Among these, the panel mounted segment is estimated to gain prominence. They are designed to be easily mounted on heat sinks or flat panels with screws. This segment is mostly preferred as they can be plugged into a socket or be mounted on a panel with ease.
Single and multi-function comprise the function segmentation of timer relay market.
By mode of the timer, the timer relay market is segmented into on-delay and off-delay. Among these, the on-delay segment is considered to lead the segment and acquire the largest market share due to easy implementation compared to off-delay and other timers. Market players like Littelfuse, Siemens, Panasonic, OMRON, IDEC Corporation, Carlo Gavazzi, and Macromatics offer on-delay timers.
Based on end-users, the timer relay market comprises utilities, industries, and others. Among these, the utility segment is predicted to experience the highest growth owing to its capability to address problems like load restoration, load shedding, under frequency protection of generators, and motor loads.
Regional Frontiers
Geographically, the timer relay market spans across the Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
Considering the global scenario, the Asia Pacific region is considered the fastest evolving market mainly due to the surging investments in the power generation sector along with the growing T&D network expansions in the region. As per the Energy Information Administration, utilities are highly spending on transmission infrastructure. Expansion in the transmission network is considered to influence the growth of the market. 405 miles of transmission lines were being added at the end of 2017 with the completion dates planned by the end of 2024. The market is predicted to experience growth, especially in economies like China, India, and South-East Asian nations. The spurring manufacturing activities and power generation capacity additions in these economies are the major growth factors of the timing relay market.
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Table Of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Insights
5 Market Dynamics
6 Global Timing Relay Market, By Timer
6.1 Introduction
6.2 On-Delay
6.2.1 Market Estimates & Forecast, 2016-2023
6.2.2 Market Estimates & Forecast, By Region, 2016-2023
6.3 Off-Delay
6.3.1 Market Estimates & Forecast, 2016-2023
6.3.2 Market Estimates & Forecast, By Region, 2016-2023
6.4 Others
6.4.1 Market Estimates & Forecast, 2016-2023
6.4.2 Market Estimates & Forecast, By Region, 2016-2023
7 Global Timing Relay Market, By Mounting Type
7.1 Introduction
7.2 Panel Mounted
7.2.1 Market Estimates & Forecast, 2016-2023
7.2.2 Market Estimates & Forecast, By Region, 2016-2023
7.3 Din Rail Mounted
7.3.1 Market Estimates & Forecast, 2016-2023
7.3.2 Market Estimates & Forecast, By Region, 2016-2023
7.4 Others
7.4.1 Market Estimates & Forecast, 2016-2023
7.4.2 Market Estimates & Forecast, By Region, 2016-2023
8 Global Timing Relay Market, By Function
8.1 Introduction
8.2 Single-Function
8.2.1 Market Estimates & Forecast, 2016-2023
8.2.2 Market Estimates & Forecast, By Region, 2016-2023
8.3 Multi-Function
8.3.1 Market Estimates & Forecast, 2016-2023
8.3.2 Market Estimates & Forecast, By Region, 2016-2023
Continued……
List Of Figures
Figure 1 Research Process Of MRFR
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Continued…….
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