Timing Relay Market 2019 Global Research Report- Forecast to 2023 is in-depth research on Global Timing Relay Industry, comprises comprehensive data on Global Timing Relay Market Size, Share, Trends, Key Players, Growth Statistics, with historic and forecast data up to 2023. For better easy understanding this report segments Timing Relay Global Market by Timer (On-Delay, Off-Delay), Mounting Type (Panel Mounted, Din Rail mounted), Function (Single Function and Multi-function), End-User (Utilities and Industries), and Region (North America, Europe, APAC, South America, Middle East & Africa). A detailed analysis report of COVID-19 impact on Timing Relay Market Report is provided with the report.
Timing Relay Industry Key Companies Analyzed:
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).
The Timing Relay Market Is Expected To Expand At 4.80% CAGR During The Period 2018 To 2023.
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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.
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.
Market Potential and Pitfalls
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. Economies like Japan, China, and India are considered the prominent markets in the Asia Pacific region. With the growth in infrastructural developments, especially in the Middle East & Africa, the timing relay market is predicted to gain impetus. The burgeoning focus on renewable power generation along with the power generation capacity addition is likely to influence market growth.
On the contrary, the high availability of alternatives like smart relays and PLCs are considered to restrict market growth during the assessment period.
Global Timing Relay Market: Segmental Analysis
The global Time Relay Market is segmented into classes as follows:
The global time relay market is segmented by the off-delay timer, on-delay timer, and others based on the types of timers.
The global time relay market is characterized by DIN rail mounted, panel-mounted, and others based on mounting types.
Based on function, the global time relay market is segmented into single and multi-function.
Based on end-users, the global time relay market is segmented into utilities, industries, and others.
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.
April 24, 2019: A global leader in connectivity and sensors, TE Connectivity has recently signed a definitive agreement in order to acquire the Kissling group of companies, which provides ruggedized switches and high-power relays used in the transportation, commercial vehicle, military, industrial, and aviation industries.
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