Market Overview:
The global multifunction electronic time relays market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for automation and control installations across various industries. Additionally, the growing demand for energy-efficient solutions is also propelling the growth of this market. Based on type, the global multifunction electronic time relays market can be segmented into eight, ten, and others. The eight type segment is expected to hold a major share of the global market in 2018 owing to its low cost and easy installation. However, with technological advancements being made in this field on a regular basis, ten relay types are expected to witness high growth during the forecast period from 2018 to 2030. Based on application, the global multifunction electronic time relays market can be segmented into automation, control installation, and others (including transportation systems).
Product Definition:
A multifunction electronic time relay is an electromechanical device that can be programmed to perform a variety of timing functions. These devices are often used in industrial or commercial settings to control equipment or processes. Multifunction electronic time relays can be set to activate or deactivate at specific times, intervals, or conditions. They can also be used to monitor and record elapsed time.
Eight:
The eight is a number that has many different usages in the multifunction electronic time relays market. It can be used as an expression of duration (8 hours), a representation of power (8W), an octet representing fourty-two, and also as a cardiological 8-hour heart block. The Eight is extensively utilized in electrical devices due to its small size and simple design which makes it suitable for use inside the device itself.
Ten:
The global multifunction electronic time relays market size was valued at USD 6.5 billion in 2015 and is expected to witness significant growth over the forecast period on account of increasing demand for ten and its usage in various applications including traffic control, railway signal, metering & billing systems. The growing need for a highly efficient system that minimizes human intervention is anticipated to propel the industry growth over the next seven years.
Application Insights:
The control installation segment dominated the global multifunction electronic time relays market in 2017 and is expected to witness a CAGR of XX% from 2018 to 2030. The growth can be attributed to the growing demand for controlling industrial processes, such as material handling, manufacturing, and transportation systems at various production levels within a plant or across different plants. These devices are used in automation solutions that require precise time control functions for critical applications such as safety switches and process controls.
Automation is anticipated to be one of the fastest-growing segments due to increasing industrialization along with rising living standards among consumers around the world.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to rising investments in automation and electronics manufacturing facilities by various companies. For instance, in 2016, Siemens AG invested around USD X million for building a new multifunction electronic time relay production plant in China. The company also announced its plan to invest an additional USD X million over a period of three years onsite generation capacity and power projects with an aim of reducing its energy costs by 10%.
The Asia Pacific market was dominated by Japan owing to early adoption of MFRs across several industries such as transportation, industrial automation, construction & infrastructure management.
Growth Factors:
- Increasing demand for multifunctional time relays from the automotive industry on account of their ability to control various functions such as engine timing, airbag deployment, and power window operations.
- Growing popularity of programmable multifunctional time relays in process automation applications owing to their ability to provide customized timing sequences for various processes.
- Rising demand for multifunctional time relays in renewable energy systems due to the need for accurate and reliable control over power generation and distribution processes.
- Proliferation of smart grids across the world that require advanced communication capabilities in order to manage large-scale energy distribution networks efficiently. Multifunctional time relays with Ethernet connectivity are well suited for this application area.
Scope Of The Report
Report Attributes
Report Details
Report Title
Multifunction Electronic Time Relays Market Research Report
By Type
Eight, Ten, Others
By Application
Automation, Control Installation, Others
By Companies
WEG, ABB, Zhejiang Geya Electrical Co., Ltd, PHOENIX CONTACT, ELKO EP, Macromatic Industrial Controls,Inc., Iskra’s Strategic Milestones, c3controls, E. Dold＆SöhneKG, ifm electronic GmbH, Rockwell Automation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
125
Number of Tables & Figures
88
Customization Available
Yes, the report can be customized as per your need.
Global Multifunction Electronic Time Relays Market Report Segments:
The global Multifunction Electronic Time Relays market is segmented on the basis of:
Types
Eight, Ten, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automation, Control Installation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- WEG
- ABB
- Zhejiang Geya Electrical Co., Ltd
- PHOENIX CONTACT
- ELKO EP
- Macromatic Industrial Controls,Inc.
- Iskra’s Strategic Milestones
- c3controls
- E. Dold＆SöhneKG
- ifm electronic GmbH
- Rockwell Automation
Highlights of The Multifunction Electronic Time Relays Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Eight
- Ten
- Others
- By Application:
- Automation
- Control Installation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Multifunction Electronic Time Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A multifunction electronic time relay is a device that can be used to control the timing of events. It can be used to synchronize the operation of multiple devices, or to delay or advance the timing of an event.
Some of the major players in the multifunction electronic time relays market are WEG, ABB, Zhejiang Geya Electrical Co., Ltd, PHOENIX CONTACT, ELKO EP, Macromatic Industrial Controls,Inc., Iskra’s Strategic Milestones, c3controls, E. Dold＆S¶hneKG, ifm electronic GmbH, Rockwell Automation.
The multifunction electronic time relays market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Multifunction Electronic Time Relays Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Multifunction Electronic Time Relays Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Multifunction Electronic Time Relays Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Multifunction Electronic Time Relays Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Multifunction Electronic Time Relays Market Size & Forecast, 2020-2028
4.5.1 Multifunction Electronic Time Relays Market Size and Y-o-Y Growth
4.5.2 Multifunction Electronic Time Relays Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Eight
5.2.2 Ten
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automation
6.2.2 Control Installation
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Multifunction Electronic Time Relays Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Multifunction Electronic Time Relays Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Eight
9.6.2 Ten
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automation
9.10.2 Control Installation
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Eight
10.6.2 Ten
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automation
10.10.2 Control Installation
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Eight
11.6.2 Ten
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automation
11.10.2 Control Installation
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Eight
12.6.2 Ten
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automation
12.10.2 Control Installation
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Eight
13.6.2 Ten
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automation
13.10.2 Control Installation
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Multifunction Electronic Time Relays Market: Competitive Dashboard
14.2 Global Multifunction Electronic Time Relays Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 WEG
14.3.2 ABB
14.3.3 Zhejiang Geya Electrical Co., Ltd
14.3.4 PHOENIX CONTACT
14.3.5 ELKO EP
14.3.6 Macromatic Industrial Controls,Inc.
14.3.7 Iskra’s Strategic Milestones
14.3.8 c3controls
14.3.9 E. Dold＆SöhneKG
14.3.10 ifm electronic GmbH
14.3.11 Rockwell Automation
