The Timing Relay market size will grow from USD 463.3 Million in 2017 to USD 598.8 Million by 2023, at an estimated CAGR of 4.37%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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Market growth can be attributed to rising investments in the power sector and growing industrialization globally. The increasing use of control devices in end-use industries and rising demand for electrical equipment are expected to boost the demand for timing relays. The panel mounted segment of the timing relay market, by mounting type, accounted for the largest market size in 2017. Panel mounted timing relays are deployed in applications such as heating/air conditioning, heat pumps, waste treatment, medical equipment, access control, and water and air treatment. The growing demand for HVAC applications and rising investments in the water and wastewater sector are expected to drive the panel mounted segment of the timing relay market.
By Market Players:
Siemens , ABB , GE , Schneider , Eaton , Rockwell , Omron , Littelfuse , TE Connectivity , Phoenix Contact , Mitsubishi Electric , Fuji Electric , Macromatic Industrial Controls , Infitec , Mors Smitt,
On-Delay , Off-Delay , Others
By Mounting Type
Panel Mounted , Din Rail Mounted , Others
Single Function , Multi-Function
Utilities , Industries , Others
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