• Blog
  • Timing Relay Market Report

    Timing Relay Market Report

    Timing Relay Market Report
    Report code - SR1594 Delivery - 2 Weeks
    Timing Relay Market Size, Share, Trend, Forecast, & Industry Analysis: 2022-2028
    See more...

    Market Insights

    The Timing Relay Market is estimated to grow from USD 559.23 million in 2021 to USD 774.97 million by 2028 at a healthy CAGR of 4.74% during the forecast period of 2022-2028.

    Timing-Relay-Market-Size

    What is Timing Relay?

    Time relay is primarily a combination of the control circuit and electromechanical output relay. It is flexible with easy & installation coupled with several compact designs, which are used to save panel space. With several mounting options, models, a broad range of timing ranges, input voltages, functionality, and numerous timing relays are widely available for any timing requirement. These relays find usage in heat pumps, wastewater treatment, air conditioning systems, and medical equipment.

    Market Drivers

    The Timing Relay market is mainly driven by continuous investment in industrial automation. The share of energy for power generation would is likely to reach 47% by 2035. This will result in growing investments in the power generation sector which is likely to boost the market growth in the coming years. Also, it is estimated that more than 1 billion people presently do not have access to electricity, mainly in Africa, India, and developing countries of Asia Pacific. Hence, surging demand for electricity is likely to boost the demand for the electrical equipment industry, which further augments the market growth.

    Covid-19 Impact Analysis

    The outbreak of COVID-19 negatively affected the timing relay industry. Global electricity demand declined by 2.5% in 2020 Q1, although lockdown measures were in place for less than a month in most economies. The demand for electricity plunged by 2.5% - 4.5% in Europe, Japan, Korea, and the U.S in 2020 Q1 relative to 2019 Q1, thus affecting the market growth.

    Timing Relay Market Snapshot

    Wish to get a free sample? 

    Key Players

    Key players operating in the global Timing Relay Market are-

    • General Electric Company (US)
    • ABB Ltd. (Switzerland)
    • Siemens AG (Germany)
    • Eaton Corporation plc (Ireland)
    • G&W Electric Company (US)
    • Hubbell Incorporated (US)
    • Schneider Electric SE (France)
    • Rockwell Automation, Inc. (US)
    • Mitsubishi Electric Corporation (Japan)
    • S&C Electric Company (US)

    Target Audience

    The target audience of Timing Relay Market includes-

    • Timing Relay Vendors
    • Timing Relay Manufacturers
    • Timing Relay Distributors
    • Organizations
    • Government Bodies.

    Segment's Analysis

    Timer Trends

    Based on a timer, the timing relay market has been classified into on-delay and off-delay. The on-delay segment accounted for the largest market share in 2021 and is likely to register a healthy CAGR during the assessment period. This is mainly attributed to its ease of operation as well as high durability.

    End-Use Trends

    Based on end-use, the market has been segmented into utilities & industries. The utilities segment dominates the market and is likely to grow with heathy CAGR during the forecast period. The major factor driving this segment is its ability to resolve power cut problems, load restoration, motor load under the projection generators.

    Regional Trends

    By region, the Asia Pacific Timing Relay market accounted for the largest share in 2021 and is expected to grow at a significant CAGR during the review period. The timing relay market growth is mainly propelled by expanding industrial and transportation sectors. In addition to this, China and Australia are the top mining countries in the region, which have been implementing real-time conveyor monitoring systems to enhance operational efficiency & production in the region. Time relays are a vital component for the proper working of these systems, thus bolstering the regional market growth.

    The North America Timing Relay market is expected to grow at a healthy CAGR during the review on account of the growth of the major end-use industries. Increasing adoption of timing relays in transportation and industrial sectors in the US coupled with rising investments to improve automation is expected to bolster the regional market growth.

    Market Segmentation

    Report Feature

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Subregions Covered

    16

    Figures & Tables

    >70

    Company Profile

    10

     

    The market is segmented in the following ways:

    By Timer Type

    • On-Delay
    • Off-Delay

    By End Use Type

    • Utilities
    • Industries

    By Region:

    • North America
    • Europe
    • Asia-Pacific
    • Middle East & Africa
    • South America

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The timing relay market is expected to witness an impressive growth of 4.74% CAGR in the coming years.

    General Electric Company (US), ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corporation plc (Ireland), G&W Electric Company (US), Hubbell Incorporated (US), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Mitsubishi Electric Corporation (Japan), S&C Electric Company (US) are among the key players in the timing relay market.

    The timing relay market size is expected to reach USD 774.97 million in 2028.

    The on-delay segment accounted for the largest share in the timing relay market in 2021.

    Asia-pacific is expected to grow at a significant CAGR in the timing relay market in the next five years.

    Timing Relay Vendors, Timing Relay Manufacturers, Timing Relay Distributors, Organizations, Government Bodies are the target audience in the timing relay market.