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.

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.

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Global timing relay market is expected to witness substantial growth during the forecast period owing to increasing investments in the power generation sector and continuous investment in industrial automation. As per BP Energy Outlook 2017, the share of energy for power generation would rise from 42% in 2015 to 47% by 2035. This would lead to increasing investments in power generation sector which would drive the growth of timing relay.

Prominent Players:

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)

Industry Segmentation:

The global timing relay market is further segmented based on end-users, including utilities, industries, and others. Utility segment of the global timing relay market is estimated to register the highest growth rate during the forecast period due to its ability to address problems such as load shedding, load restoration, motor loads, and under frequency protection of generators.

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Regional Outlook:

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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