Industrial Timer Market - Forecasts and Segments by Technavio

According to the latest market study released by Technavio, the global industrial timer market is expected to grow at a CAGR of more than 4% during the forecast period.

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Technavio has published a new report on the global industrial timer market from 2017-2021. (Graphic: ...

Technavio has published a new report on the global industrial timer market from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Industrial Timer Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Industrial timers are used for time delay actions, and industrial timers have a strong impact owing to the increasing deployment of machines and automation in the end-user industries. The global industrial timer market is expected to have a steady growth rate, which is likely to come from rising industrial activities in Asia, Latin America, and the Middle East. These regions are expected to offer incredible potential for the growth of the industrial timer market. Globally, the manufacturers and distributors of industrial timers need to continuously enhance their presence in new markets by competing with local vendors.

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Technavio’s industrial automation research analysts categorize the global industrial timer market into the following segments by end-user. They are:

  • Oil and gas industry
  • Chemicals and petrochemicals industry
  • Power generation industry
  • Food and beverage industry
  • Others

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The top three revenue-generating end-user segments of the global industrial timer market are discussed below:

Oil and gas industry

Industrial timers are widely used in the oil and gas industry for all delayed switching applications in control, starting, and protection circuits. Industrial timers are ideal for applications such as machine tools, material handling, process control, and motor control of various process machines. The deployment of process machines, exploration of new oil and gas fields in African countries such as Nigeria, and increased investments in oil and gas production in North America and the Middle East are expected to drive the global industrial timer market.

According to Raghav Bharadwaj Shivaswamy, a lead automation research analyst from Technavio, “The need for industrial timers in the oil and gas industry will increase with the investments in offshore and shale gas production activities. Even though in recent years the oil and gas industry has been undergoing a decline in both brownfield and greenfield projects, it is noted that the adoption of automation, embedded system, and microcontrollers will continue to drive revenues in the market.”

Chemicals and petrochemicals industry

Industrial timers play a major role in the chemical and petrochemical industry. They are gaining penetration in developing countries with the growing use of the latest electronic industrial timers. Industrial timers are widely used in the chemical and petrochemical industry, especially in storage and pumping units in the petrochemical industry.

“The industrial timers incorporate multifunctional control and are used in safety systems to ensure a long shelf life and to provide better control and performance with negligible failure rates. The increasing use of industrial machinery in the chemical and petrochemical industry indicates that the global industrial timer market will gain traction in the next five years,” adds Raghav.

Power generation industry

The power industry is undergoing a transition from coal-based generation to solar and wind energy due to the increasing impact of fossil fuel use on the environment; this has led to several stringent regulations on the emissions from coal-fired power stations in many countries, especially in Europe.

Globally, there is an increase in the consumption of electricity, which is directly driving the market for industrial timers in motor applications. Developing countries are investing in advanced technologies and equipment to scale up their power production capacities. The deployment of industrial timers allows operators in the power generation industry to choose products with higher efficiency, which helps to stop the process automatically, thus reducing unnecessary fuel usage.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • OMEGA Engineering
  • OMRON
  • General Electric
  • Siemens
  • Rockwell Automation

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