Timing Relay Market Highlights
Timing Relays are
switches that are controlled by a circuit. It provides simple and reliable
control to start a motor, control a load, or affect a process. Timing relays
are installed wherever simple time-controlled processes are required. The
availability of broad time delay ranges in timing relays, rising industrial
automation, and increased demand for control devices in end-use industries have
boosted the demand for timing relays. The global timing relay market is
estimated to expand at 4.50% CAGR during the forecast period.
The growing demand
for timing relays market is attributed to the increasing focus on renewable
power generation and increasing power generation capacity additions. For
instance, global installed power capacity reached 6,437 GW in 2016 with growth
rate of 4.1%. Also, significant development being made in Asian countries such
as China and India including the increasing use of coal resources has driven
the growth of timing relay used in the power sector. One of the major
restraints for the global timing relay market is availability of alternatives
such as smart relays and PLCs.
Timing Relay Market Segmentation
The timing relay
market has been segmented based on function into single function and
multi-function. Among these types, single function is the fastest growing
segment in the timing relay market as they provide high accuracy timing control
for industrial and OEM applications.
Based on mounting
type, the market is segmented as panel mounted and din-rail mounted. The panel
mounted segment is expected to be the largest market, by mounting type, during
the forecast period. Panel mounted timing relays are designed to be easily
mounted on flat panels or heat sinks with screws. It is most preferred mounting
type as these relays can be plugged into a socket or can be mounted on a panel.
Considering the timer segment, the market is segmented into on-delay and off-delay.
Key Players:
The key players of
the global timing relay market are Siemens (Germany), ABB (Switzerland),
General Electric (US), Schneider (France), Eaton (Ireland), Rockwell (US),
Omron (Japan), Littlefure (US), TE Connectivity (Switzerland), Mitsubishi
Electric (Japan), Fuji Electric (Japan), and Infitec (Germany), among others.
Regional Analysis:
Region wise, it is
estimated that Asia-Pacific region would be the fastest growing market during
the forecast period, due to increasing investments in the power generation
sector and increasing T&D network expansions in the region. For instance,
according to Energy Information Administration (EIA), utilities continue to
increase spending on transmission infrastructure. Expansion in transmission
network would positively impact the growth of timing relay market. At the end
of 2017, 405 miles of transmission lines were added with its completion dates
planned through 2024. Similarly, the timing relay market is expected to experience
growth in the countries such as India, China, and South-East Asian countries.
Power generation capacity additions and increasing manufacturing activities in
these countries are the main factors spurring the growth of the timing relay
market.
Table Of Contents
1 Executive
Summary
2 Market
Introduction
2.1 Market
Definition
2.2 Scope Of The
Study
2.3 Market
Structure
3 Research
Methodology
3.1 Primary Research
3.2 Secondary
Research
3.3 Market Size
Estimation
3.4 Forecast Model
3.5 List Of
Assumptions
3.6 Limitations Of
The Study
4 Market Insights
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