Timing Relay Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Time relay refers to a kind of relay whose output circuit needs to make an obvious change (or contact action) after adding (or removing) the input action signal in a specified and accurate time. It is an electrical component used in a circuit with a lower voltage or a smaller current to switch on or off a circuit with a higher voltage and larger current. Timing Relays are used extensively in industrial applications, HVAC systems, and building services to provide time-delayed switching.

Moreover, the soaring population across the globe at an alarming rate is escalating the market size of time relay in order to achieve the optimization of the production process, and power continuity when needed. As relays are widely used as a primary relay to protect against overload and short circuits in distribution and transmission system is expected to positively enhance the market size of timing relay.

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The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO) in 2020. The strict guidelines were issued by governments and local authorities, industrial, commercial activities even all non-essential operations were halted which had suspended the activities of end-users. COVID-19 has adversely affected the growth of the power industry as a supply chain across various industries was severely disrupted, in turn, affecting the manufacturing and sales of time relays.

According to UnivDatos Market Insights (UMI)’ research report “global timing relay”, the market is expected to grow at a CAGR of around 5.5% during the forecast period (2021-2027). Time relay caters to extensive market demand across the globe and is expected to witness an influential growth rate in the forecasted period as well. It is an automatic control electrical appliance that uses the principle of electromagnetic or mechanical action to delay the closing or opening of contacts. Factors that are positively influencing the market size of time relays are the soaring development in transportation and power generation system in emerging economies coupled with the increasing adoption of HVAC applications across the globe.

Moreover, with growing commercial buildings globally, the demand for timing relays in air conditioning systems, elevators, lighting, and other appliances increases. The safe utilization and working of these appliances are dependent on the functioning of timing relays. The increasing demand for control devices in numerous industries and the availability of broad time delay ranges are expected to propel the demand for time relays during the forecast period.

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Based on timer, the timing relay market is classified into on-delay, off-delay, and others. On-delay segment caters to extensive market share in the timing relay market and is predicted to be the fastest-growing segment in the forecasted period. The growth of the industrial sector in emerging economies is soaring the demand for on-delay timing relay as it simply controls relays with a time delay function built in that helps in controlling an event, by energizing the secondary circuit, after a certain amount of time.

Based on mounting type, the timing relay market is categorized into panel-mounted, DIN rail mounted, and others. The panel-mounted caters to a significant market share in the timing relay market. Panel mounted timing relays are deployed in applications such as heating/air conditioning, heat pumps, waste treatment, medical equipment, access control, and water and air treatment. The growing demand for HVAC applications and rising investments in the water and wastewater sector are expected to drive the panel mounted segment of the timing relay market.

Based on function, the timing relay market is bifurcated into the single function and multi-function. The multi-function segment caters to a substantial market share in the timing relay market. As these timers provide broad timing ranges, voltages, and functions compared to single function timing relay.

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Asia Pacific to witness the highest growth

Based on region, the report provides a detailed analysis for overall adoption of timing relay in the major region including North America (United States, Canada, Rest of North America, Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), Rest of the World. The Asia Pacific is anticipated to witness the highest growth rate during the forecast period, owing to the soaring growth of the industrial sector, and the transportation sector is likely to create a significant need for timing relays in the coming years. In addition, rising electricity demand, rising power generation capacity additions, and growth of the manufacturing industries are escalating the market timing relay in the region.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Timing relay market are General Electric Company, ABB Ltd., Siemens AG, Eaton Corporation plc, G&W Electric Company, Hubbell Incorporated, Schneider Electric SE, Rockwell Automation, Inc., Mitsubishi Electric Corporation, S&C Electric Company. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Timing Relay Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.      By Timer (On-Delay, Off-Delay, and Others)

2.      By Mounting Type (Panel-Mounted, DIN Rail Mounted, and Others)

3.      By Function (Single-Function and Multi-Function)

4.      By End-User (Utilities, Industries, and Others)

5.      By Region (North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), ROW.

6.      By Company (General Electric Company, ABB Ltd., Siemens AG, Eaton Corporation plc, G&W Electric Company, Hubbell Incorporated, Schneider Electric SE, Rockwell Automation, Inc., Mitsubishi Electric Corporation, S&C Electric Company)

Key questions answered in the study:

1.      What are the current and future trends of the global timing relay industry?

2.      How the industry has been evolving in terms of timer, mounting type, function, end-user, and region?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global timing relay industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global Timing relay suppliers across various regions and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL TIMING RELAY MARKET COVID-19 IMPACT

6 GLOBAL TIMING RELAY MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY TIMER

8 MARKET INSIGHTS BY MOUNTING TYPE

9 MARKET INSIGHTS BY FUNCTION

10 MARKET INSIGHTS BY END-USER

11 MARKET INSIGHTS BY REGION

12 Rest Of the World Timing Relay Market

13 TIMING RELAY MARKET DYNAMICS

14 TIMING RELAY MARKET OPPORTUNITIES

15 TIMING RELAY MARKET TRENDS

16 LEGAL & REGULATORY FRAMEWORK

17 DEMAND AND SUPPLY-SIDE ANALYSIS

18 VALUE CHAIN ANALYSIS

19 COMPETITIVE SCENARIO

20 COMPANY PROFILED

21 DISCLAIMER

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