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Timing Relay Market: Global Opportunity Analysis and Industry Forecast, 2020 - 2027
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Time relay is a combination of electromechanical output relay and a control circuit. It is flexible with ease of use and installation along with many compact designs, which save panel space. With multiple mounting options, models, a wide range of input voltages, timing range, functionality, and numerous timing relays are available for any timing requirement. Moreover, low cost and high flexibility of the units reduce inventory requirements. Timing relays find applications in air conditioning systems, heat pumps, wastewater treatment, and medical equipment. The increase in demand for control devices in various industries and the availability of broad time delay ranges are expected to propel the demand for time relays during the forecast period.
                       Report Metric |                                                  Details |
 Market size available for years |  2019–2027 |
 Base year considered |  2019 |
 Forecast period |  2020–2027 |
 Forecast unit |  Value (USD) |
 Segments covered |  Timer, Mounting Type, Function, End User |
 Regions covered | North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and the Middle East and Africa |
 Companies covered | Siemens, ABB, GE, Schneider, Eaton, Rockwell, omron, Littel Fuse, TE Connectivity, Phoenix Contact, Mitsubishi Electric, Fuji Electric, Macromatic Industrial Controls, Infitec, and Mors Smitt |
By Timer
- On-Delay
- Off-Delay
- Others
By Mounting Type
- Panel Mounted
- Din Rail Mounted
- Others
By Function
- Single Function
- Multi-Function
By End User
- Utilities
- Industries
- Others
COVID–19 scenario analysis
The spread of the virus has created huge loss among various industries. The demand for electronic equipment has reduced significantly. Moreover, governments have forced to shut down various industries to prevent further spread of the virus. Many showrooms, supermarkets, and hypermarkets have been closed temporarily due to the global lockdown. This is expected to create huge losses in large scale as well as small scale industries. The demand for laptops has increased over the past 3 months as employees are expected to work from home. However, disruption in supply chain is one of the major factors that reduce the demand for electronic devices.Â
Market scenario analysis
The timing relay market is expected to witness significant growth over the forecast period due to the rise in demand for electrical devices and requirement for control devices in various industries. The timing relay market is segmented into on-delay, off-delay, and others. The on-delay segment had the largest market share and is projected to grow at the fastest rate during the forecast period. Moreover, increased power generation and manufacturing activities are also expected to boost the market in the future. Rapid industrialization coupled with urbanization has increased the demand for electricity, which paves way for the growth of the timing relay market over the forecast period.
Market trends
The use of panel mounted relay increases due to ease of mounting into a surface with the help of a screw. It is the most preferable time relay as it can be plugged into a socket or can be mounted to any flat surface. Another trend observed is the use of timing relay in the utilities segment. This segment is mostly dependent on automatic systems to control equipment; therefore, timing relays are used to control these events based on time.
Regional insights
By region, the timing relay market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific is the market leader of the global timing relay market due to high investments in the power generation sector and rise in urbanization. The timing relay market is expected to grow at a high rate in countries such as India, China, and South-East Asian countries. In addition, China is the major contributor to the growth in the region.
Key benefits of the report:
- This study presents the analytical depiction of the timing relay market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the timing relay market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the timing relay market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.Â
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.Â
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