Global Industrial Timer Market 2017-2021

Overview of the global industrial timer market

Research analysis on the global industrial timer market identifies that availability of low-cost industrial timers will be one of the major factors that will have a positive impact on the growth of the market. The reduction in the industrial timers cost has led to the increase in their adoption among end-users. Low-cost industrial timers are also used in safety devices and can handle high temperatures and strong vibrations from machines on the factory floor. Additionally, these timers also come with various features such as LCD and LED and programmable modes and wide time ranges will fuel the market's growth. Technavio's market research analysts predict that this market will grow at a CAGR of more than 4% by 2021.

In terms of geographic regions, APAC accounts for the highest revenue due to the presence of major industrial timer manufacturers. The region witnesses considerable growth in the industrial automation for process operations. The increased demand for industrial timers from small and medium scale enterprises (SMEs) in various parts of the region will drive the growth of the industrial timers market. Additionally, the increase in investments, the rise in automation, and the integration of IoT in the end-user industries in the developing countries, will also propel the market's growth in this region.

Competitive landscape and key vendors

Characteried by the presence of  several large and small-scale vendors, this market appears to be highly fragmented and competitive. The vendors in the market are competing based on factors such as product features, product types, price, and customized solutions. The industrial timer manufacturers are mking huge R&D investments to develop advanced industrial timers in association with PLCs and control systems.

The leading vendors in the market are -

• OMEGA Engineering
• OMRON
• General Electric
• Siemens
• Rockwell Automation

The other prominent vendors in the market are ABB, ASCON TECNOLOGIC, Bellofram Group of Companies, Crouzet Automatismes, Danfoss, Eaton, Eolane Technology (Suzhou), Eti, Fanox, Fargo Controls, Fortress Interlocks, GIC India, Global Equipment Company, Industrial Timer Company, Intermatic Incorporated, JORC Industrial, Kübler Group, Minilec, Murrelektronik, ORBIS TECNOLOGÍA ELÉCTRICA, Panasonic, Selec, SIMEX, TE Connectivity, TELE, Tense Elektronik, and Wieland Electric.

Segmentation by product and analysis of the industrial timer market

• Digital industrial timers
• Analog industrial timers

During 2016, the digital analog timers segment accounted for the major shares of this market. The increasing demand from the end users has led to the growth of this market. These timer are mainly used in process control equipment to assist in process regulation. The presence features such as multifunctional applications and high-precision time settings will lead to the growth of this market segment.

Segmentation by end user and analysis of the industrial timer market

• Oil and gas industry
• Chemical and petrochemical industry
• Power generation industry
• Food and beverage industry

The oil and gas industry contributes to the major share of the industrial timer market due to the increasing investments from the North America and the Middle East in oil and gas production. The increasing demand for timers in this end-user segment is mainly due to its advantages that help in protecting the power supply by eliminating unnecessary hurdles in industrial machinery and equipment. The increasing investments in offshore and shale gas production activities will also fuel the demand for industrial timers in the oil and gas industry. 

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 timer market?
• What are the key market trends impacting the growth of the global industrial timer market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial timer market?
• What are the market opportunities and threats faced by the vendors in the global industrial timer 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 timer market?

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