Timing Relay Market Size, Share & Industry Analysis, By Timer Type (Delay-on relay, Delay-off relay), By Function Type (Multi-function, Single function), By End-user (Utility, Industrial, Others) And Regional Forecast, 2024-2032

A timing relay is the combination of electromechanical output relays and a control circuit which are initiated by the application of input voltage, trigger signals, or auxiliary supply for an output load.  Timing relays are also known as delay relay which is used in industrial operations where the timing is needed to be locked. The consumption of relays is relatively low due to less concentration in manufacturing & downstream industries owing to available alternatives.

Based on the timer type, the market is segmented into the delay-on-time relay, delay-off time relay. The delay-off time relay is anticipated to dominate the market segment owing to the easy implementation of relays. Other than that, the construction of relay and material choice withstand the low & high-temperature factor, shock & vibrations, and dry & humid environmental factor which resulted in a compact design and reliable train operations of and impact the relay market. 

Based on the function type, the market is segmented into single-function time relay, multi-function type relay. The multi-function time relay offers a wide range of functions including operating voltage variety, supply voltage function, timing range, and others, which can be selected on the front side of the relay type. Based on this factor, the multi-function segment has dominated the market segment.

Based on the end-user, the market is segmented into Utility, Industrial and others.  The utility segment is anticipated to dominates the market owing to the ability to resolve power cuts problem, load restoration, motor load under the protection generators. The grid expansion and new distribution projects focus more on the replacement of old relays with advanced relays and implementing quality of power for the smart grid, directly implementing the relays market.

One of the major drivers for the timing relay market is the growing power demand which has resulted in demand for control devices in utilities and various industries and growing demand for electrical equipment for production efficiency and reducing error ratio. The relay manufacturers also offer solar compactable relays systems due to increasing demand from solar energy projects, which also impacts the relays market.

The availability of alternatives like PLC, smart relays, and others has led to lower consumption of timing relay and is expected to hinder the market growth of the timing relay market.

Key Market Driver -

The growing demand of control devices along with electrical equipment.

Key Market Restraint -

The availability of alternatives like PLC, smart relay and others hinders the market growth.

Key players covered:

Some of the major companies that are present in the timing relay market are ABB, Siemens, Eaton Corporation, Schneider Electric, Mors Smitt, Amperite Company, TE Connectivity, Omron, GE, SEL, Phoenix Contact, and Electronic Relays India (ERI).

Regional analysis:

The timing relay market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia Pacific is expected to dominate the most significant market in terms of demand for timing relay owing to the rising demand for electric power and industrialization in countries like India, China, Japan, and others, leading to increased electricity connectivity and distribution network across the region.

Following Asia-Pacific, North America & Europe have been more focused on renewable energy projects and energy-efficient sectors; to connect the main grid with the renewable energy source countries in North America are investing in support electrification and transportation across the region which increased the demand for relays.

Latin America relays market is anticipated to grow in the coming years due to foreign investment in infrastructure and expansion plans for electric network and power grids installation to support electrification transportation across the region. In the Middle East and Africa, the rising population and urbanization in developing economies, along with the region with the largest oil exporters and are expanding the grid infrastructure which is expected to be significant drivers for the relays market.

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Segmentation

Key Industry Developments

• On September 01 2020, Mors Smitt has delivered a range of different relays to rail technology. The different application has resulted in reliability, proven reliability, fast prototyping for mock-up and testing process, this has made Mors Smitt’s relays as an optimal solution for the application.


• On November 02, 2020, TE connectivity has acquired the DRI Relays. This acquisition has lead DRI Relays to provide strong and complex strategies for TE’s aerospace, defense, and marine business.