Global Timing Relay Market size was valued at US$ XX Mn. in 2019 and is expected to grow at a CAGR of 4.5% over 2020-2026, to account for US$ 798.34 Mn. in 2026.

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Global Timing Relay Market Overview:

A timing relay is called a control device which aids to control the functioning of two events. A timing relay is a combination of a control circuit and an electromechanical output relay. Its functions include off-delay, on-delay, pulse generator, repeat cycle, and memory latch, among others.
The global timing relay market is expected to witness lucrative growth over 2020-2026 thanks to growing investments in the power generation sector and continuing investment in industrial automation in various countries. Moreover, growing demand for control devices in end-use industries and mounting demand for electrical equipment is also expected to drive the timing relays market globally.

According to the BP Energy Outlook 2017, the share of energy for power generation would increase from 42% in 2015 to 47% by 2035. This would lead to growing investments in the power generation industry which would fuel the growth of timing relay. Furthermore, it is projected that above 1 billion people currently do not have access to electricity, mostly in India, Africa, and other parts of emerging Asia. Therefore, an upsurge in the electricity demand would result in the growth of the electrical equipment marketplace which would fuel the global timing relay market in the upcoming 2-3 years.
The Impact of COVID-19 on the Power Generation Sector:

Worldwide electricity demand declined by 2.5% in 2020 Q1, though lockdown measures were in place for less than a month in most economies. China was the first to implement control measures, in mid-January, and experienced the global largest demand drop in 2020 Q1, of 6.5%. Impacts were more partial in other parts of the globe, where limitations began in March 2020 and were introduced increasingly. The demand for electricity drop by 2.5% - 4.5% in Japan, Europe, Korea and the U.S in 2020 Q1 relative to 2019 Q1, not only due to Covid‑19 but also because weather in January and February was slighter than in 2019.

Timing Relay Market

In countries that rely more heavily on industry, lockdown measures have a fewer effect on electricity demand. In China, industry accounted for over 60% of electricity consumption in 2019, comparatively 10% for services, part of the cause that it would experience a lesser impact on total electricity demand. In the U.S., industry only accounts for nearly 20% of electricity demand, while the services sector accounts for almost 40%, foremost to more pronounced impacts on overall electricity demand as non-essential services have been hit the toughest by lockdown measures.
The On-delay timer segment is expected to hold the dominant position in the global timing relay market.
Based on a timer, the on-delay segment held the largest market share of XX% in 2019 thanks to its easy operation and implementation as compared to off-delay and other timers. The APAC and the MEA are the key markets for on-delay timers because of the growing demand for processes based on on-delay timing ranges.

Panel mounted segment is expected to witness significant growth during 2020-2026.

By mounting type, the panel mounted segment was valued at US$ XX.14 Mn. in 2019 and is expected to reach US$ XX.51 Mn. by 2026 at a CAGR of 5.87% over the forecast period. Panel mounted timing relay is designed to be simply mounted on heat sinks or flat panels with screws. It is mainly the preferred mounting type as these relays can be mounted on a panel or can be plugged into a socket.

China will remain the fastest-growing in panel mounting type of regional markets. Led by economies such as India, Australia, and South Korea, the market in APAC is forecast to reach US$ XX.69 Mn. by 2026.
Global Timing Relay Market Trends:

The MMR report covers all the trends and technologies playing a major role in the growth of the timing relay market over 2020-2026. The use of panel mounting relay type rises owing to ease of mounting into a surface with the aid of a screw. It is the most preferable time relay as it can be worked into a socket or can be mounted to any flat surface. Another trend witnessed is the use of timing relay in the utility segment. This segment is mainly dependent on automatic systems to control equipment; consequently, timing relays are used to control these events in terms of time.
APAC is expected to lead the global timing relay market, generating revenue worth US $ XX Mn. by 2026.
APAC timing relay market accounted for US$ XX Mn. in 2019 and is expected to grow at a CAGR of XX. 90 % over 2020-2026, to account for US$ XX Mn. in 2026. This growth is attributed to growing investments in the power generation sector and rising T&D network expansions in Asia. For example, as per the EIA (Energy Information Administration), utilities continue to upsurge spending on transmission infrastructure.

Growth in transmission network would positively impact the growth of the APAC timing relay market. In 2017, 405 miles of transmission lines were added with its conclusion dates planned by 2024. Likewise, the timing relay market is projected to experience growth in the economies such as China, India, and South Korea. Power generation capacity additions and growing manufacturing activities in these economies are the major factors driving the growth of the timing relay market in Asia.
Competitive Landscape:

The timing relay market is fragmented, and the degree of fragmentation will increase during the forecast period. Schneider, ABB, Rockwell, General Electric, and Siemens AG are some of the major timing relay market participants. These players in the global timing relay market are more focused on enhancing their service & product portfolio offerings through many strategic approaches.
Such as, in January 2019, Rockwell Company acquired Emulate3D, an inventive engineering software inventor whose products digitally emulate & simulate industrial automation systems. Utilizing accurate simulation models to improve systems planning and decision-making, followed by emulation trials that test the control system before installation, Emulate3D’s software allows customers to virtually test machine and system designs before gaining manufacturing and automation costs and committing to a final design.

Global Timing Relay Market

The objective of the report is to present a comprehensive analysis of the Global Timing Relay Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Timing Relay Market dynamics, structure by analyzing the market segments and project the Global Timing Relay Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Timing Relay Market make the report investor’s guide.
Scope of the Global Timing Relay Market: Inquire before buying

Global Timing Relay Market
Global Timing Relay Market, by Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Global Timing Relay Market Key Players

• Schneider
• Siemens
• ABB
• GE
• Eaton
• Rockwell
• Omron
• Littelfuse
• TE Connectivity
• Phoenix Contact
• Mitsubishi Electric
• Fuji Electric
• Macromatic Industrial Controls
• Infitec
• Mors Smitt
• Others

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