Industrial Monitoring Relays Market to record USD 597.97 Mn growth; APAC to occupy 37% market share -- Technavio

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Oct 04, 2022, 21:00 ET

NEW YORK, Oct. 4, 2022 /PRNewswire/ -- The "Industrial Monitoring Relays Market by End-user, Product, and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 597.97 million, accelerating at a CAGR of 6.18% during the forecast period. According to the report, the market will observe significant growth in APAC. The high urbanization rate and the increasing use of electronics among the population are creating immense opportunities for vendors operating in the region.

Technavio has announced its latest market research report titled Global Industrial Monitoring Relays Market 2022-2026

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Technavio categorizes the global industrial monitoring relays market as a part of the global industrial machinery market. The parent, the global industrial machinery market, covers companies engaged in manufacturing industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications.

The market in focus is driven by factors such as the growing need for safe and reliable monitoring devices for power equipment, rising demand for remote monitoring in the power sector, and the modernization of power network. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The global industrial monitoring relays market is fragmented due to the presence of numerous established and emerging vendors. The leading vendors in the market hold a significant market share. They have the financial resources and technical expertise to carry out the R&D. Moreover, they have strong brand recognition, established distribution networks, and an extensive product portfolio. Hence, small and medium-sized players find it difficult to compete with established players in terms of technological advances and access to distribution networks to expand their market presence. Thus, they adopt competitive pricing strategies to improve market penetration.

Industrial Monitoring Relays Market 2022-2026: Segmentation

End-user

Power Industry
Oil and Gas Industry
Automotive Industry
Chemical Industry
Others

The power industry is the key end-user in the market. The need to maintain a continuous supply of electricity in power plants and improve the longevity of equipment will accelerate the adoption of industrial monitoring relays in the power industry during the forecast period.

Product

Voltage Monitoring Relays
Phase Monitoring Relays
Others

The demand for voltage monitoring relays has been significant among end-users in the market. Voltage monitoring relays are easy to install, do not require current transformers, and, therefore, are less expensive. Also, they need only voltage connections so that they can be connected independently of the system load. Such benefits are increasing their demand in the market.

Geography

APAC
North America
Europe
The Middle East and Africa
South America

37% of the market growth will come from APAC during the forecast period. Rising investments in renewable energy technologies such as solar and wind and an increase in the number of nuclear reactors are expected to foster the growth of the industrial monitoring relays market in APAC over the forecast period.

Industrial Monitoring Relays Market 2022-2026: Vendor Analysis and Scope

To help businesses improve their market position, the industrial monitoring relays market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors 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 Equipamentos Eletricos SA.

The report also covers the following areas:

Industrial Monitoring Relays Market 2022-2026: Key Highlights

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will assist industrial monitoring relays market growth during the next five years
Estimation of the industrial monitoring relays market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the industrial monitoring relays market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of industrial monitoring relays market vendors

Related Reports:

Industrial Monitoring Relays Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 6.18%
Market growth 2022-2026	USD 597.97 million
Market structure	Fragmented
YoY growth (%)	5.1
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 37%
Key consumer countries	US, Canada, China, India, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	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 Equipamentos Eletricos SA
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments

Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user

Exhibit 27: Chart on Comparison by End-user
Exhibit 28: Data Table on Comparison by End-user

5.3 Power industry - Market size and forecast 2021-2026

Exhibit 29: Chart on Power industry - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Data Table on Power industry - Market size and forecast 2021-2026 ($ million)
Exhibit 31: Chart on Power industry - Year-over-year growth 2021-2026 (%)
Exhibit 32: Data Table on Power industry - Year-over-year growth 2021-2026 (%)

5.4 Oil and gas industry - Market size and forecast 2021-2026

Exhibit 33: Chart on Oil and gas industry - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Data Table on Oil and gas industry - Market size and forecast 2021-2026 ($ million)
Exhibit 35: Chart on Oil and gas industry - Year-over-year growth 2021-2026 (%)
Exhibit 36: Data Table on Oil and gas industry - Year-over-year growth 2021-2026 (%)

5.5 Automotive industry - Market size and forecast 2021-2026

Exhibit 37: Chart on Automotive industry - Market size and forecast 2021-2026 ($ million)
Exhibit 38: Data Table on Automotive industry - Market size and forecast 2021-2026 ($ million)
Exhibit 39: Chart on Automotive industry - Year-over-year growth 2021-2026 (%)
Exhibit 40: Data Table on Automotive industry - Year-over-year growth 2021-2026 (%)

5.6 Chemical industry - Market size and forecast 2021-2026

Exhibit 41: Chart on Chemical industry - Market size and forecast 2021-2026 ($ million)
Exhibit 42: Data Table on Chemical industry - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Chart on Chemical industry - Year-over-year growth 2021-2026 (%)
Exhibit 44: Data Table on Chemical industry - Year-over-year growth 2021-2026 (%)

5.7 Others - Market size and forecast 2021-2026

Exhibit 45: Chart on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 46: Data Table on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 48: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.8 Market opportunity by End-user

Exhibit 49: Market opportunity by End-user ($ million)

6 Market Segmentation by Product

6.1 Market segments

Exhibit 50: Chart on Product - Market share 2021-2026 (%)
Exhibit 51: Data Table on Product - Market share 2021-2026 (%)

6.2 Comparison by Product

Exhibit 52: Chart on Comparison by Product
Exhibit 53: Data Table on Comparison by Product

6.3 Voltage monitoring relays - Market size and forecast 2021-2026

Exhibit 54: Chart on Voltage monitoring relays - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Voltage monitoring relays - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Voltage monitoring relays - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Voltage monitoring relays - Year-over-year growth 2021-2026 (%)

6.4 Phase monitoring relays - Market size and forecast 2021-2026

Exhibit 58: Chart on Phase monitoring relays - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on Phase monitoring relays - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on Phase monitoring relays - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on Phase monitoring relays - Year-over-year growth 2021-2026 (%)

6.5 Others - Market size and forecast 2021-2026

Exhibit 62: Chart on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on Others - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on Others - Year-over-year growth 2021-2026 (%)

6.6 Market opportunity by Product

Exhibit 66: Market opportunity by Product ($ million)

7 Customer Landscape

7.1 Customer landscape overview

Exhibit 67: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation

Exhibit 68: Chart on Market share by geography 2021-2026 (%)
Exhibit 69: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison

Exhibit 70: Chart on Geographic comparison
Exhibit 71: Data Table on Geographic comparison

8.3 APAC - Market size and forecast 2021-2026

Exhibit 72: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 73: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 74: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 75: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.4 North America - Market size and forecast 2021-2026

Exhibit 76: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 77: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 78: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 79: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.5 Europe - Market size and forecast 2021-2026

Exhibit 80: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 81: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 82: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 83: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 84: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 85: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 86: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 87: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.7 South America - Market size and forecast 2021-2026

Exhibit 88: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 89: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 90: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 91: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026

Exhibit 92: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 93: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 94: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 95: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 China - Market size and forecast 2021-2026

Exhibit 96: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 97: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 98: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 99: Data Table on China - Year-over-year growth 2021-2026 (%)

8.10 Germany - Market size and forecast 2021-2026

Exhibit 100: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 101: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 102: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 103: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.11 India - Market size and forecast 2021-2026

Exhibit 104: Chart on India - Market size and forecast 2021-2026 ($ million)
Exhibit 105: Data Table on India - Market size and forecast 2021-2026 ($ million)
Exhibit 106: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 107: Data Table on India - Year-over-year growth 2021-2026 (%)

8.12 Canada - Market size and forecast 2021-2026

Exhibit 108: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 109: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 110: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 111: Data Table on Canada - Year-over-year growth 2021-2026 (%)

8.13 Market opportunity by geography

Exhibit 112: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 113: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 115: Overview on factors of disruption

10.4 Industry risks

Exhibit 116: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 117: Vendors covered

11.2 Market positioning of vendors

Exhibit 118: Matrix on vendor position and classification

11.3 ABB Ltd.

Exhibit 119: ABB Ltd. - Overview
Exhibit 120: ABB Ltd. - Business segments
Exhibit 121: ABB Ltd. - Key offerings
Exhibit 122: ABB Ltd. - Segment focus

11.4 ALSTOM SA

Exhibit 123: ALSTOM SA - Overview
Exhibit 124: ALSTOM SA - Business segments
Exhibit 125: ALSTOM SA - Key news
Exhibit 126: ALSTOM SA - Key offerings
Exhibit 127: ALSTOM SA - Segment focus

11.5 Banner Engineering Corp.

Exhibit 128: Banner Engineering Corp. - Overview
Exhibit 129: Banner Engineering Corp. - Product / Service
Exhibit 130: Banner Engineering Corp. - Key offerings

11.6 Bender GmbH and Co. KG

Exhibit 131: Bender GmbH and Co. KG - Overview
Exhibit 132: Bender GmbH and Co. KG - Product / Service
Exhibit 133: Bender GmbH and Co. KG - Key offerings

11.7 Eaton Corp. Plc

Exhibit 134: Eaton Corp. Plc - Overview
Exhibit 135: Eaton Corp. Plc - Business segments
Exhibit 136: Eaton Corp. Plc - Key news
Exhibit 137: Eaton Corp. Plc - Key offerings
Exhibit 138: Eaton Corp. Plc - Segment focus

11.8 FINDER SpA

Exhibit 139: FINDER SpA - Overview
Exhibit 140: FINDER SpA - Product / Service
Exhibit 141: FINDER SpA - Key offerings

11.9 FURUKAWA Co. Ltd.

Exhibit 142: FURUKAWA Co. Ltd. - Overview
Exhibit 143: FURUKAWA Co. Ltd. - Business segments
Exhibit 144: FURUKAWA Co. Ltd. - Key offerings
Exhibit 145: FURUKAWA Co. Ltd. - Segment focus

11.10 Rockwell Automation Inc.

Exhibit 146: Rockwell Automation Inc. - Overview
Exhibit 147: Rockwell Automation Inc. - Business segments
Exhibit 148: Rockwell Automation Inc. - Key news
Exhibit 149: Rockwell Automation Inc. - Key offerings
Exhibit 150: Rockwell Automation Inc. - Segment focus

11.11 Schneider Electric SE

Exhibit 151: Schneider Electric SE - Overview
Exhibit 152: Schneider Electric SE - Business segments
Exhibit 153: Schneider Electric SE - Key news
Exhibit 154: Schneider Electric SE - Key offerings
Exhibit 155: Schneider Electric SE - Segment focus

11.12 Siemens AG

Exhibit 156: Siemens AG - Overview
Exhibit 157: Siemens AG - Business segments
Exhibit 158: Siemens AG - Key news
Exhibit 159: Siemens AG - Key offerings
Exhibit 160: Siemens AG - Segment focus

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 161: Inclusions checklist
Exhibit 162: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 163: Currency conversion rates for US$

12.4 Research methodology

Exhibit 164: Research methodology
Exhibit 165: Validation techniques employed for market sizing
Exhibit 166: Information sources

12.5 List of abbreviations

Exhibit 167: List of abbreviations

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