About Industrial Timer
An industrial timer is a relay that has an output (with or without contact), which electrically closes (turns on) or opens (turns off) the circuit after a preset time elapses when the electrical or mechanical input is given. Analog industrial timers have a large setting dial and moving pointers, which offer easy operation and monitoring in the end-user industries; in addition, their robust structure provides an added advantage to the growth of the market.
Technavio’s analysts forecast the global industrial timer market to grow at a CAGR of 4.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial timer market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Timer Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial timer market: OMEGA Engineering, OMRON, General Electric, Siemens, and Rockwell Automation.
Other Prominent Vendors in the market are: ABB, ASCON TECNOLOGIC, Bellofram Group of Companies, Crouzet Automatismes, Danfoss, Eaton, Eolane Technology (Suzhou), Eti, Fanox, Fargo Controls, Fortress Interlocks, GIC India, Global Equipment Company, Industrial Timer Company, Intermatic Incorporated, JORC Industrial, Kübler Group, Minilec, Murrelektronik, ORBIS TECNOLOGÍA ELÉCTRICA, Panasonic, Selec, SIMEX, TE Connectivity, TELE, Tense Elektronik, and Wieland Electric.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is miniature and ultra-slim industrial timers. Industrial timers are becoming smaller in order to fit into smaller machines. Industrial timers are evolving owing to R&D and now incorporate a high level of intelligence to ensure more efficiency in operations, thus enabling accuracy and high performance. These products are ultra slim, which makes it easier to integrate them machines and allow maximum control with low energy consumption while optimizing operational efficiency.”
According to the report, one driver in the market is increasing availability of low-cost industrial timers. The market for industrial timers is heavily driven by digital industrial timers, and this is due to the market growth in the developing countries where the cost of these products has led to their preference over PLCs. The cost of analog industrial timers has also been reduced with the incorporation of multifunctional features. These low-cost industrial timers are also used in safety devices and can handle high temperatures and strong vibrations from machines on the factory floor.
Further, the report states that one challenge in the market is use of PLCs and industrial PCs. Programmable logic controllers (PLCs) are being increasingly adopted in most manufacturing operations while mini PLCs are also finding uses in both discrete and process industries for minor operational activities. These PLCs can be used for different programming functions and can perform and analyze process faults and various other functions, which add to their adoption in large scale industries. These are mainly used in assembly lines in both process and discrete industries. The current trend of adopting industrial PCs by MNCs and leading companies has a negative impact on both industrial timers and PLCs.
OMEGA Engineering, OMRON, General Electric, Siemens, Rockwell Automation, ABB, ASCON TECNOLOGIC, Bellofram Group of Companies, Crouzet Automatismes, Danfoss, Eaton, Eolane Technology (Suzhou), Eti, Fanox, Fargo Controls, Fortress Interlocks, GIC India, Global Equipment Company, Industrial Timer Company, Intermatic Incorporated, JORC Industrial, Kübler Group, Minilec, Murrelektronik, ORBIS TECNOLOGÍA ELÉCTRICA, Panasonic, Selec, SIMEX, TE Connectivity, TELE, Tense Elektronik, and Wieland Electric.