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    Timing Relay Market Report

    Timing Relay Market Report
    Report code - SR1594 Delivery - 2 Weeks
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    Timing Relay Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026
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    Impact of COVID-19 on Timing Relay Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Timing Relay Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    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.

    The Timing Relay Market is estimated to grow from USD 532.6 million in 2020 to USD 700.8 million by 2026 at a healthy CAGR of 4.8% during the forecast period.

    Timing Relay Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Market Size in 2020

    US$ 532.6 million

    Market Size in 2026

    US$ 700.8 million

    Market Growth (2021-2026)

    4.8% CAGR

     

    Time Relay Market Size, 2020-2026 (USD Million)

    Time-Relay-Market-Forecast

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    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.

    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 2020 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.

    Regional Trends

    By region, the Asia Pacific Timing Relay market accounted for the largest share in 2020 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.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global timing relay market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report.

    • What are the key trends in the timing relay market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the timing relay market?
    • What are the key strategies adopted by the major vendors to lead in the timing relay market?
    • What is the market share of the top vendors?

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    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.

    Custom Research: Stratview research offers custom research services across 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 4.8% 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 700.8 million in the foreseeable future.

    The on-delay segment accounted for the largest share in the timing relay market in 2020.

    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.

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