According to a market report by Lucintel, the future of the global safety relay and timer market looks promising with opportunities in the automotive, energy & power, chemical and petrochemical, manufacturing, pharmaceutical markets. The global safety relay and timer market is expected to reach an estimated $3.09 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are growing demand for automation technology, rising requirement for dependable timers and safety systems in industrial automation, and increasing preference for smart and programmable timers.

In this market, single function safety relays and modular and configurable safety relays are the major segments of safety relay and timer market by type.
Lucintel forecast that single-function safetyis expected to witness highest growth over the forecast period due to its widespread use by manufacturers in smaller machines in which safety features require specialised logic and affordable devices.
Within this market, chemical and petrochemical will remain the largest segment due to increasing use of industrial timers and relays for pumping and storage applications.
APAC is expected to witness highest growth over the forecast period due to expanding number of manufacturing units, rapid technological advancement in various end use industries, such as construction, energy and power, automotive, manufacturing sectors, and rising disposable income in the region.

Rockwell Automation, Omron Industrial Automation, Sick, Eaton, Siemens, ABB, Panasonic Electric Works, TE Connectivity, and Altech are the major suppliers in the safety relay and timer market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]