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Overview of the global industrial overload relays market
According to Technavio’s market research analysis, the introduction of smart electronic overload relays will be one of the key drivers for the global industrial overload relays market during the forecast period. Smart electronic overload relays provide improved motor protection and can gather and utilize real time for pre-maintenance of motors. These relays can predict electrical problems such as overloads, jams, and ground faults and keep track of the electrical problems in real time. Moreover, the ease of configuration enables remote monitoring and can immediately spot motor failures. These advantages of smart electronic overload relays have raised its demand in different process and discrete industries. This propel the growth of the industrial overload relays market during the forecast period. This market will register a revenue of more than USD 184 million by 2022.
In terms of geography, APAC will be the major revenue contributor to the industrial overload relays market throughout the forecast period. The rising adoption of overload relays in numerous process and discrete industries will drive the growth of the industrial overload relays market in APAC during the forecast period. Countries such as China, Japan, and India are the key contributors of this market in the region.
Competitive landscape and key vendors
The competition in the industrial overload relays market is quite high with the presence of numerous vendors. The market is observed to have high innovations and vendors are striving hard to offer high quality products at competitive prices. Also, the vendors are trying to manufacture products that are regulatory compliant and gain market share by offering advanced products.
The leading vendors in the market are –
The other prominent vendors in the market are General Electric, Sprecher+Schuh, Littelfuse, GREEGOO Electric, Finder, MTE, Riken Electric, Benshaw, Meba Electric, GWIEC Electric, Lovato Electric, Kawamura Electric, Mitsubishi Electric, Fuji Electric, Texas Instruments, Danfoss, Emera, Tsubakimoto Chain, Hubbell Industrial Controls, Struthers-Dunn, Coto Technology, and Global Zeus.
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Segmentation by product and analysis of the industrial overload relays market
Thermal overload relays
Magnetic overload relays
The thermal overload relays hold the major share of the industrial overload relays market. These relays offer needed protection for motors during overloads or phase failures and provide a compact starting solution when attached with contactors. Such factors will contribute to the thermal overload relays growth in the forthcoming years.
Segmentation by application and analysis of the industrial overload relays market
The thermal overload relays are increasingly used for motor protection. These overload relays are simple, cost-effective, and effectual motor protection equipment that are widely used in various process and discrete industries. Common electrical problems such as overcurrent and single phasing in motors can be solved with the utilization of overload relays.
Key questions answered in the report include
What will the market size and the growth rate be in 2022?
What are the key factors driving the global industrial overload relays market?
What are the key market trends impacting the growth of the global industrial overload relays market?
What are the challenges to market growth?
Who are the key vendors in the global industrial overload relays market?
What are the market opportunities and threats faced by the vendors in the global industrial overload relays market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global industrial overload relays market?
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