ABB (Switzerland) and General Electric (US) are the Key Players in the Timing Relay Market
The global timing relay market is projected to grow at a CAGR of 4.32%, from 2017 to 2022. In 2017, Asia Pacific is estimated to be the largest market for timing relays, followed by North America and Europe. The growth of the timing relay market is driven by the increasing demand for control devices in end-use industries, availability of broad time delay ranges in timing relays, and growing demand for electrical equipment globally.
The timing relay market is dominated by both global and regional players. The key players operating in the market include Siemens (Germany), ABB (Switzerland), General Electric (US), Schneider Electric (France), Eaton (Ireland), and Rockwell Automation (US). The other players in this market include Omron, Littelfuse, TE Connectivity, Mitsubishi Electric, Fuji Electric, Phoenix Contact, Macromatics, Infitec, and Mors Smitt.
The major strategies adopted by the players in the timing relay market include investments and expansions, new product developments, contracts & agreements, and mergers & acquisitions. Investments and expansions was the most commonly adopted strategy from 2014 to 2017. Industry players also adopted the strategy of new product developments, which was the second-most widely used strategy, from 2014 to 2017.
ABB is a global leader in the electrification products, robotics and motion, industrial automation, and power grids sectors. The company generates revenue through 4 major business segments, namely, electrification products, discrete automation and motion, process automation, and power grids. The company offers timing relays under its electrification products segment. The company caters to different industrial verticals such as automotive, cement, chemicals, food and beverage, marine and ports, metals, mining, oil & gas, power distribution, power generation, solar power, wind power, and railways. ABB has a global presence and caters to its extensive clientele in the Americas, Asia Pacific, Europe, and the Middle East & Africa. The company has corporate research centers in 7 countries, namely, China, India, Germany, Poland, Sweden, Switzerland, and the US and operates in approximately 100 countries worldwide. ABB adopted expansions and new product launches as its key strategies. In June 2014, ABB opened a manufacturing facility in Bulgaria to produce low and medium voltage products to enhance its sales coverage in Europe and Asia. In May 2014, ABB launched a retrofit program for relays that focuses on product lifecycle management and efficient replacement of SPACOM protection relays with modern protection and control relays.
GE is one of the largest infrastructure companies in the world. It develops and manufactures products for the generation, transmission, distribution, control, and utilization of electricity. The company operates through 8 major business segments, namely, aviation, power, healthcare, oil & gas, energy connections and lighting, capital, renewable energy, and transportation. The energy connections and lighting segment includes the industrial solutions, grid solutions, power conversion, automation and control, current, and GE lighting sub-segments. Under the industrial sub-segment, GE provides high-performance software and control solutions and offers products such as circuit breakers, relays, arresters, switchgears, panel boards, and repair for the commercial end-users, and data centers. The company operates in approximately 180 countries and carries out manufacturing operations at approximately 325 plants located across 40 countries and 184 manufacturing plants in 38 states in the US and Puerto Rico. GE adopted contracts & agreements as its key strategy to maintain its position in the market. In November 2016, GE received a contract from L&T to supply automation and protection systems for 7 66/11 kV substations for Lusail city, a future smart city in Qatar. As a part of the contract, GE provided main relays and 400 protection panels.
Related Reports:
Timing Relay Market by Timer (On-Delay, Off-Delay), Mounting Type (Panel Mounted, Din Rail Mounted), Function (Single, Multi-Function), End-User (Utilities, Industries), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2022
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