Global Industrial Safety Relays and Timers Market 2017-2021

Overview of the global industrial safety relays and timers market

Technavio’s research analysis on the industrial safety relays and timers market has identified the increase in need for power in APAC as one of the major factors that will have a positive impact on the market’s growth during the next few years. Owing to factors such as the rapid industrialization and urbanization, APAC has witnessed a considerable increase in the demand for electricity in the recent years. The high energy consumption in Asia is creating an imbalance between supply and demand and has driven the need for investments in power generation, transmission, and distribution. Several south-east Asian countries such as Malaysia, Singapore, Thailand, and Vietnam are alrfeady focusing on 100% electrification. Other Asian countries such as Myanmar and the Philippines are also concentrating on expanding their power generation abilities. This will lead to the construction of new smart grids in the coming years, which in turn, will boost the need for safety relays and timers. Our market research analysts predict that this market will register a revenue of more than USD 2 billion by 2021.

The incorporation of new features in industrial safety timers is one of the key trends that will gain traction in the industrial safety relays and timers market in the coming years. Industrial safety timers are ultra-slim and this makes it easy to fit them into machines and other equipment. This enables increased control and lesser energy consumption while optimizing operational efficiency. Moreover, they are also focusing on offering remote push-button switches in industrial safety timers with remote trigger time and has real-time monitoring capabilities to enable users to control timers from remote locations.

Competitive landscape and key vendors  

The industrial safety relays and timers market consists of numerous multinational and local vendors. Several vendors offer both safety relays and timers and the market also has vendors who exclusively offer safety relays or timers. To distinguish their products from the competitors’ the vendors are focusing on offering features such as remote push-button switches and multi-reset functions.

The leading vendors in the market are –

• ABB
• EATON
• Rockwell Automation
• Schneider Electric
• Siemens

The other prominent vendors in the market are Euchner-USA, Panasonic Electric Works, Pilz, SICK AG, and Yokogawa Electric Corporation.

Segmentation by end-user and analysis of the industrial safety relays and timers market

• Chemical and petrochemical industry
• Oil and gas industry
• Power industry
• Mining industry

During 2016, the chemical and petrochemical industry was the majro end-user to the industrial safety relays and timers market. Factors such as the increasing usage of industrial relays and timers for applications such as storage and pumping and the availability of modular and configurable monitoring safety relays, will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the industrial safety relays and timers market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the industrial safety relays and timers market throughout the forecast period. The increasing use of safety relays and timer devices in the oil and gas, chemical, and petrochemical industries and high demand for these devices in the automotive and food and beverage industries in US will drive the market growth in the region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial safety relays and timers market?
• What are the key market trends impacting the growth of the global industrial safety relays and timers market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial safety relays and timers market?
• What are the market opportunities and threats faced by the vendors in the global industrial safety relays and timers 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 safety relays and timers market?

Technavio also offers customization on reports based on specific client requirement.