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Safety Relays and Timers - Global Market Outlook (2018-2027)

Safety Relays and Timers - Global Market Outlook (2018-2027)

Published: September 2019 ID: SMRC18560
Published: September 2019 ID: SMRC18560

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Safety Relays and Timers market is growing at a CAGR of 6.5% during the forecast period. Some of the key factors such as rising demand for cost-effective systems, high demand for functional safety and increasing usage in oil & gas industries are driving factors for the market growth. However, high market competition and complexity of standards acts as the restraining factors for the market growth.

Safety Relays are devices that generally implement and monitor safety functions. They help in checking a safety system and enable the machine to either begin or execute the commands to stop the machine. The forthcoming plans of these relays have made it capable of saving up on a lot of machines startup time and even human efforts. In the event of a hazard, the task of safety functions is to use appropriate measures to reduce the existing risk to an acceptable level.

By end-user, oil and gas segment is going to have a lucrative growth during the forecast period due to growth in applications such as controlling, starting and protecting circuits. The deployment of process machines has increased due to the considerable rise in offshore oil and gas exploration activities. By geography, Asia-Pacific is going to have a lucrative growth during the forecast period due to rapid development in construction, energy and power, automotive, manufacturing industries.
 
Some of the key players in this market include ABB, Eaton Corp., OMRON Industrial Automation, Rockwell Automation, TE Connectivity, SICK AG, Altech Corp., Siemens AG and Pilz GmbH & Co. KG.

Contacts Covered:
• Normally Open, Time Open (NOTO)
• Normally Closed, Time Closed (NCTC)
• Normally Open, Time Closed (NOTC)
• Normally Closed, Time Open (NCTO)

Types Covered:
• Modular & Configurable Safety Relays
• Single-Function Safety Relays

End-Users Covered:
• Pharmaceutical 
• Automotive   
• Semiconductors
• Manufacturing
• Oil & Gas
• Construction
• Energy & Power
• Chemical and Petrochemical

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand     
o South Korea      
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the clients interest (Note: Depends of feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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