Timing Relay
Market Highlights
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). 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.
The global timing relay market is witnessing a sturdy growth over the
past few years due to the mammoth demand for electrical equipment. The
plummeting demand for control devices in the end-use industries is considered
one of the key factors dictating the growth trajectory of the market across the
globe. Industries across the world are extensively investing in control devices
to improve the growth efficiency besides reducing the error ratio. With
increased power generation capacity addition and manufacturing activities, the
market is predicted to experience a boost in the coming years. The rapid
urbanization and industrialization have led to the increased demand for
electricity, thereby encouraging the growth of the global timing relay market
in the foreseeable future.
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Timing Relay
Market Segmentation
The timing relay
market is segmented on the basis of mounting type, timer, function, and
end-user.
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.
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.
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.
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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:
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.
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
Continued..
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Research Future:
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