Global Timing Relay Market Size & Outlook, 2023-2030
The timing relay industry worldwide is expected to reach a projected revenue of US$ 843.4 million by 2030. A compound annual growth rate of 5.2% is expected of the worldwide timing relay industry from 2024 to 2030.
Revenue, 2023 (US$M)
$590.0
Forecast, 2030 (US$M)
$843.4
CAGR, 2024 - 2030
5.2%
Report Coverage
Worldwide
Global timing relay market, 2018-2030 (US$M)
Global timing relay market highlights
- The global timing relay market generated a revenue of USD 590.0 million in 2023 and is expected to reach USD 843.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 5.2% by 2030.
- In terms of segment, delay-on relay accounted for a revenue of USD 590.0 million in 2023.
- Delay-on relay is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
Global data book summary
| Market revenue in 2023 | USD 590.0 million |
| Market revenue in 2030 | USD 843.4 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Delay-on relay |
| Fastest growing segment | Delay-on relay |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Delay-on relay |
Other key industry trends
- In terms of revenue, the North America accounted for 32.6% of the global timing relay market in 2023.
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Timing Relay Market Scope
Timing relay market segmentation & scope
End Use
Utility
Industrial
Others
Timing Relay Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global timing relay market size, by regions, 2018-2030 (US$M)
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