The global — timing relay market is projected to grow at a high rate during the forecast period, mainly due to the growing demand for electrical equipment globally. Market growth in this region can be attributed to increasing electricity demand and rising industrialization and urbanization. Increasing demand for control devices in end-use industries is a major driver for the growth of the global timing relay market. Various industries are investing heavily in control devices to increase the production efficiency and simultaneously reduce error ratio. This would positively impact the timing relay market with increased manufacturing activities and power generation capacity addition.
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Timing Relay, also known as time delay 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. It is typically used in industrial applications where the timing needs to be locked in. Increasing demand for control devices in utilities & various industries and growing demand for electrical equipment is likely to drive the market for timing relays. For instance, according to the Indian Electrical and Electronics Manufacturers’ Association (IEEMA), the electrical and industrial electronics industry has witnessed growth of 12.8% in 2017-2018. This would have a positive impact on the growth of timing relay market.
The prominent players of 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.
Global timing relay market has been segmented based on timer, mounting type, function, end-user, and region.
On the basis of timer, the market is classified into On-Delay and Off-Delay.
On the basis of end-users, the market is classified into utilities, industries, and others.
Based on mounting type, the industry is classified into panel mounted and din rail mounted.
On the basis of function, the global timing relay industry is classified into single function and multi-function.
Based on region, the industry is classified into North America, Europe, Asia-Pacific, Middle East & Africa and South America.
Timing Relay Regional Market Analysis
Countries such as China, Japan, and India are the key markets for timing relays in Asia Pacific. The increasing infrastructural developments in the Middle East & Africa are expected to drive the timing relay market in the region. Rising population and urbanization in developing economies would result in increased demand for electricity, which would drive the need for control devices such as timing relay device. In addition, the increasing focus on renewable power generation and increasing power generation capacity additions globally would accelerate the growth of timing relay market.
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
Figure 7 Value Chain Analysis
Figure 8 Global Timing Relay Market Share, By Timer, 2017 (%)
Figure 9 Global Timing Relay Market, By Timer, 2018-2023 (USD Million)
Figure 10 Global Timing Relay Market Share, By Mounting Type, 2017 (%)
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