iCrowdNewswire Jan 14, 2021 11:51 AM ET
Market Research Future published a half-cooked research report on global timing relay market. The timing relay market is expected to expand at ~ 4.80% CAGR during the period 2018 to 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.
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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. The on-delay is expected to have a larger share during the forecast period mainly due to its wide application such as interference pulse suppression and gradual starting of motors to avoid overload. On-delay timers are easy to implement when compared to off-delay timing relays. These factors have resulted in the larger share of on-delay timers in the timing relay market
The global timing relay market is expected to grow at ~ 4.50% CAGR during the forecast period.
Market Research Analysis
Asia Pacific is estimated to be the fastest growing market for timing relays.
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.
GLOBAL TIMING RELAY MARKET 2018-2023
Scope of the Report
This report provides an in-depth analysis of the global timing relay market, tracking four market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the timing relay market by its timer, mounting type, function, end-user, and by region.
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- By Timer
- By Mounting Type
- Panel Mounted
- Din Rail Mounted
- By Function
- By End-User
- By Regions
- North America
- Middle East & Africa
- South America
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- 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)
- Infitec (Germany)
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