Timing Relay Market Overview
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.
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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Global Timing Relay Market: Segmental Analysis
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.
Regional Frontiers
Geographically, the timer relay market spans across the Asia Pacific, North America, Europe, South America, and the Middle East & Africa.
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 Size 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.
Competitive Dashboard
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).
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