The industrial monitoring relays market is forecasted to grow by USD 418.4 mn during 2023-2028, accelerating at a CAGR of 4.5% during the forecast period. The report on the industrial monitoring relays market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing need for safe and reliable monitoring devices for power equipment, rising demand for remote monitoring in power sector, and modernization of power network is increasing demand for monitoring relay.
Technavio's industrial monitoring relays market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
4.23%
CAGR
4.5%
Incremental Value
$418.4 mn
By End-user
Power industry
Oil and gas industry
Automotive industry
Chemical industry
Others
By Product
Voltage monitoring relays
Phase monitoring relays
Others
By Geographical Landscape
APAC
North America
Europe
Middle East and Africa
South America
This study identifies the emergence of iot based monitoring relays as one of the prime reasons driving the industrial monitoring relays market growth during the next few years. Also, increasing replacement of relays and fuses and increasing application of solid-state plug-in relays in automotive sector will lead to sizable demand in the market.
The report on the industrial monitoring relays market covers the following areas:
Industrial monitoring relays market sizing
Industrial monitoring relays market forecast
Industrial monitoring relays market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial monitoring relays market vendors that include ABB Ltd., AIC Technik Pvt. Ltd., ALSTOM SA, Banner Engineering Corp., Bender GmbH and Co. KG, Broyce Control, Coto Technology, Danfoss AS, Eaton Corp. Plc, FINDER SpA, Fujitsu Ltd., FURUKAWA Co. Ltd., General Electric Co., Macromatic Industrial Controls Inc., OMRON Corp., Phoenix Contact GmbH and Co. KG, Pilz GmbH and Co. KG, Rockwell Automation Inc., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Shenle Corp. Ltd., Siemens AG, TE Connectivity Ltd., and WEG S.A. Also, the industrial monitoring relays market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Market Segmentation by Product
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Industrial Monitoring Relays Market 2018 - 2022
Historic Market Size - Data Table on Global Industrial Monitoring Relays Market 2018 - 2022 ($ million)