DUBLIN, Dec. 22, 2017 /PRNewswire/ --
The "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" report has been added to Research and Markets' offering.
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.
The report segments the timing relay market, by timer, into on-delay, off-delay, and others. Others includes one shot, interval, repeat cycle, flashers, and on/off delay timers. The on-delay segment is estimated to lead the timing relay market in 2017 and is projected to grow at the fastest rate during the forecast period due to ease of operation of on-delay timers.
The panel mounted segment of the timing relay market, by mounting type, accounted for the largest market size in 2016. 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 segmented into single function and multi-function. The single function segment is estimated to hold the largest share of timing relay market in 2017 due to the need for high accuracy timing control for OEM and industrial applications. The multi-function segment is expected to grow at the highest CAGR, from 2017 to 2022, as these timers provide broad timing ranges, voltages, and functions compared to single function 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 lead the global timing relay market by 2022 and is projected to grow at the highest CAGR from 2017 to 2022. Market growth in this region can be attributed to increasing electricity demand and rising industrialization and urbanization. Countries such as China, Japan, and India are the key markets for timing relays in Asia Pacific. The increasing infrastructural developments in the Middle East & Africa are expected to drive the timing relay market in the region.
Control systems based on timing relays are difficult to configure when compared to PLCs and smart relays. PLCs and smart relays are simply programmed through software to control processes while timing relays need to be connected by hardwiring them to control system logics. Thus, PLCs and smart relays are replacing timers and relays for control system logic in various applications such as manufacturing plants and new machines. The availability of alternatives such as PLCs and smart relays is expected to act as a restraint for the timing relay market.
The leading players in the timing relay market include Siemens (Germany), ABB (Switzerland), General Electric (US), Schneider Electric (France), Eaton (Ireland), and Rockwell Automation (US).
- Increasing Demand for Control Devices in End-Use Industries
- Availability of Broad Time Delay Ranges in Timing Relays
- Growing Demand for Electrical Equipment
- Availability of Alternatives Such as PLCs and Smart Relays
- Rising Demand for Hvac Applications
- Technical Challenges in Relays
- Presence of A Large Number of Local Players
- Fuji Electric
- Macromatic Industrial Controls
- Mitsubishi Electric
- Mors Smitt
- Phoenix Contact
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/research/zcj2fn/global_timing?w=5
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SOURCE Research and Markets