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The global timing relay market is estimated to expand at 4.50% CAGR during the forecast period. Timing Relays are switches that are controlled by a circuit. It provides simple and reliable control to start a motor, control a load, or affect a process. Timing relays are installed wherever simple time-controlled processes are required. The availability of broad time delay ranges in timing relays, rising industrial automation, and increased demand for control devices in end-use industries have boosted the demand for timing relays. Timing relay is defined as a control device which helps to control the functioning of two events. It is a combination of an electromechanical output relay and a control circuit. Its functions include on-delay, off-delay, repeat cycle, pulse generator, and memory latch, among others. Increasing demand for control devices in end-use industries and growing demand for electrical equipment is likely to drive the market for timing relays. 

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The growing demand for timing relays market is attributed to the increasing focus on renewable power generation and increasing power generation capacity additions. For instance, global installed power capacity reached 6,437 GW in 2016 with growth rate of 4.1%. Also, significant development being made in Asian countries such as China and India including the increasing use of coal resources has driven the growth of timing relay used in the power sector. One of the major restraints for the global timing relay market is availability of alternatives such as smart relays and PLCs.

Industry Segmentation

Based on mounting type, the market is segmented as panel mounted and din-rail mounted. The panel mounted segment is expected to be the largest market, by mounting type, during the forecast period. Panel mounted timing relays are designed to be easily mounted on flat panels or heat sinks with screws. It is most preferred mounting type as these relays can be plugged into a socket or can be mounted on a panel. Considering the timer segment, the market is segmented into on-delay and off-delay. The on-delay is expected to have a larger share during the forecast period mainly due to its wide application such as interference pulse suppression and gradual starting of motors to avoid overload. On-delay timers are easy to implement when compared to off-delay timing relays. These factors have resulted in the larger share of on-delay timers in the timing relay market

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Regional Analysis

Region wise, it is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, due to increasing investments in the power generation sector and increasing T&D network expansions in the region. For instance, according to Energy Information Administration (EIA), utilities continue to increase spending on transmission infrastructure. Expansion in transmission network would positively impact the growth of timing relay market. At the end of 2017, 405 miles of transmission lines were added with its completion dates planned through 2024. Similarly, the timing relay market is expected to experience growth in the countries such as India, China, and South-East Asian countries. Power generation capacity additions and increasing manufacturing activities in these countries are the main factors spurring the growth of the timing relay market.

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The key players of the global timing relay market are Siemens (Germany), ABB (Switzerland), General Electric (US), Schneider (France), Eaton (Ireland), Rockwell (US), Omron (Japan), Littlefure (US), TE Connectivity (Switzerland), Mitsubishi Electric (Japan), Fuji Electric (Japan), and Infitec (Germany), among others.

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