Safety Relays and Timers Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Safety Relays and Timers monitor the signs from safety units and immediately switch off active segments in any occurring emergency scenario. In case of an unsafe circumstance, the actuator is essentially segregated from the energy flexibly. This sort of assurance system could be controlled in case of a glitch, impairing the defensive capacity. Extraordinary hand-off circuits, for example, the three-contactor mix, were the initial plans to emerge from consultations into avoiding hazards. These combined devices prompted the improvement of the main safety relay. Whenever wired effectively, neither a deficiency nor an outer issue will lose the safety unit and capacity.
Safety Relays and Timers Market Growth and Trends
Safety Relays and Timers Market Regional Analysis
The rising adoption of electromechanical switching devices implementing safety functions and increasing demand for the more liable machine are factors that are programmed to drive the safety relays and timers market growth in the near future. The Asia Pacific region is presumed to be running ahead in the global market with countries like China and India rapidly developing in construction, energy & power, and other manufacturing sectors. North America is expected to accelerate growth in the region with an eventual increase in electronic and connected devices and power generation. The widely used automation in the regions of Europe is expected to drive higher demands for safety relays and timers too. Flourishing chemical and petrochemical industries in the Middle East and Africa are expected to witness a widening demand for timers in its market.
Safety Relays and Timers Market Share and Competition
Key companies operating in this industry are: ABB, EATON, Rockwell Automation, Schneider Electric, Siemens, Euchner-USA, Panasonic Electric Works, Pilz, SICK and Yokogawa Electric.
Safety Relays and Timers Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• Single Function Safety Relays
• Modular and Configurable Safety Relays
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Automotive
• Energy & Power
• Chemical and petrochemical industry
• Manufacturing
• Pharmaceutical
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Safety Relays and Timers Market Companies
• ABB
• EATON
• Rockwell Automation
• Schneider Electric
• Siemens
• Euchner-USA
• Panasonic Electric Works
• Pilz, SICK
• Yokogawa Electric.
Available Versions:-
United States Safety Relays and Timers Market Research Report
Europe Safety Relays and Timers Market Research Report
Asia Pacific Safety Relays and Timers Market Research Report
India Safety Relays and Timers Market Research Report
