The global timing relay market is projected to grow at a CAGR of 4.32%, from 2017 to 2022, to reach a market size of USD 573.5 Million by 2022. Market growth can be attributed to rising investments in the power sector and growing industrialization globally. The increasing use of control devices in end-use industries and rising demand for electrical equipment are expected to boost the demand for timing relays.
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The report "Timing Relay Market by Timer (On-Delay, Off-Delay), Mounting Type (Panel Mounted, Din Rail Mounted), Function (Single, Multi-Function), End-User (Utilities, Industries), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2022", The timing relay market is expected to grow from an estimated value of USD 464.1 Million in 2017 to USD 573.5 Million by 2022, at a CAGR of 4.32%, from 2017 to 2022. The global market is set to witness a significant growth due to the increasing demand for control devices in end-use industries and the availability of broad time delay ranges in timing relays.
Browse 70 market data Tables and 47 Figures spread through 138 Pages and in-depth TOC on "Timing Relay Market by Timer (On-Delay, Off-Delay), Mounting Type (Panel Mounted, Din Rail Mounted), Function (Single, Multi-Function), End-User (Utilities, Industries), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2022"
The on-delay segment is expected to hold the largest share of the timing relay market, by timer, during the forecast period.
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The on-delay segment is expected to hold a major share in the timing relay market during the forecast period. On-delay timers turn on after a particular time delay.
The key applications of on-delay timers are interference pulse suppression and gradual starting of motors to avoid mains overload. Market players such as Siemens, Littelfuse, OMRON, Panasonic, Carlo Gavazzi, IDEC Corporation, and Macromatics offer on-delay timers.
On-delay timers are easy to implement when compared to off-delay and other timers. All these factors have resulted in the larger share of on-delay timers in the timing relay market.
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The panel mounted segment accounts for the largest share of the timing relay market, by mounting type, during the forecast period.
The panel mounted segment is expected to be the largest market, by mounting type, from 2017 to 2022. Panel mounted timing relays are designed to be easily mounted on flat panels or heat sinks with screws.
Panel mounting is the most preferred mounting type as timing relays can be plugged into a socket or can be mounted on a panel. All these factors are expected to drive the panel mounted segment of the timing relay market.
The utilities segment is expected to be the largest end-user segment of the timing relay market during the forecast period.
The utilities segment is expected to be the largest timing relay market from 2017 to 2022. Utilities depend on automatic systems to control and monitor their network and equipment.
Timing relays (also known as timer delay relays) are used to control an event based on time. Moreover, timing relays are deployed by utilities to address problems such as load shedding, load restoration, motor loads, high-speed reclosing, and under frequency protection of generators.
Timing relays are also used for electric-utility distribution circuit protection as these relays provide the best selectivity with electric equipment such as re-closers, generator transfer switches, fuses, and circuit breakers. All these factors are likely to drive the utilities segment of the timing relay market.
Asia Pacific: The fastest growing market for timing relays.
In this report, the timing relay market has been analyzed with respect to five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The market in Asia Pacific is expected to dominate the global timing relay market due to increasing investments in the power generation sector and increasing T&D network expansions in the region.
The Chinese market is expected to dominate the timing relay market in Asia Pacific. The timing relay market is expected to grow at a high rate in countries such as India, China, and South-East Asian countries.
Increasing manufacturing activities and power generation capacity additions in these countries are the main factors spurring the growth of the timing relay market.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the timing relay market. These include Siemens (Germany), ABB (Switzerland), General Electric (US), Schneider Electric (France), Eaton (Ireland), and Rockwell Automation (US).
The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their market shares.
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