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Thermal Overload Relay Market Report

RA00142

Thermal Overload Relay Market, by Type (Bimetallic Strip, Melting Alloy), Application (Electronics, Manufacturing, Aerospace & Defense, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00142

Pages: NA

Feb 2020

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Impact of covid-19 on Thermal Overload Relay Market

Global Thermal Overload Relay Market Overview 2026:

Thermal overload relays are electromechanical, defensive devices intended to control electricity if the engine draws excessive power over an extended time. If too much power flows through the engine circuit, the thermal overload relay opens the circuit based on heat formed by the overload power or relay temperature or sensed overload power.

Growing knowledge on safety in the power generation sector along with increasing industrialization are the key drivers for the thermal overload relay market

Growing awareness related to the safety of the generators/motors in the power generation industry is projected to be a significant thermal overload relay market driver. In addition, increasing industrialization & modernization of the industrial sector and increasing population are enhancing the demand for electricity across the globe. This factor is projected to indirectly impact the use of thermal overload relay devices in the end use industries. Moreover, growing number of electricity substations to meet requirement of domestic and commercial power consumers require thermal overload relay instruments to activate circuit breakers and alarm switches in case of voltage fluctuation and irregular electricity flow. This aspect is anticipated to drive the market growth in the forecast time. Also, growing utilization of thermal overload relays in electricity transmission and distribution systems to protect network systems from disturbances in the electrical circuit is anticipated to propel the growth of the market.

Continuous increasing R&D activities and demand for reliable renewable industry are projected to major investment opportunities for thermal overload relay market

Constantly growing research & development activities to improve the safety of the motors, globally increasing demand for electricity are generating ample growth opportunities in the thermal overload relay market. In addition, growing trend for reliable renewable energy industry to use power generation processes is also predicted to upsurge the global thermal overload relay market substantially in the coming years. 

Bimetallic strip segment is predicted to be most lucrative throughout the forecast period

Bimetallic strip type segment held a significant market share in 2018 and is anticipated to continue its trend during the forecast time. Bimetallic strip contains of two adjoined strips of metal which are enlarged at different rates when subjected to heat. Overcurrent creates heat; if bimetallic strips are exposed to heat, one metal strip will expand quicker than the other one and cause the strips to bend in shape and break the circuit. Once it cools down, bimetallic strip retains its original shape automatically and allows electricity flow. These factors are projected to drive the thermal overload relay market growth in the estimated time. 
The market for melting alloy type segment is predicted to witness a healthy growth, during the projected period. Melting alloy overload relays contains of a heater coil, eutectic alloy and mechanism for splitting the electric circuit. Heater coil measures the current fluctuations in the engines/motors/generator and converts the extra current into heat; furthermore, the converted heat is used to find whether the engine has crossed its threshold capacity. This factor is anticipated to boost the market growth in the forecast time.   

Manufacturing industry registered for largest market size and is anticipated to grow at a notable rate during the estimated time

Manufacturing industry held the highest thermal overload relay market size and is projected to significantly dominate the global market in the forecast time. This growth is attributed to extensive usage of thermal overload relays in the manufacturing industries for the safety of the heavy motors and machineries from voltage and current fluctuations. Also, increasing manufacturing industries due to industrialization in the developing countries especially in China, India, Australia, South Africa are also further boosting the growth of the thermal overload relay market in the forecast period.

Asia-Pacific region will have huge investment opportunities for the market investors to grow over the coming years

Asia-Pacific region accounted for majority of the thermal overload relay market share; it is anticipated to experience a significant growth in the forecast time. Large consumer base along with rapid growth in the industrialization in developing countries like China, India, Australia and other countries in the Asia-Pacific region is driving the market growth. Moreover, growing number of manufacturing industries and presence of major key players include Fuji Electric Co., LARSEN & TOUBRO LIMITED and Mitsubishi Electric Corporation are anticipated to impel the growth of the thermal overload relay market during the forecast period. 

North America has accounted for second highest thermal overload relay market size and is projected to continue its growth in terms of revenue throughout the forecast time. The expected growth is because of growing demand for thermal overload relay devices from the electronics, manufacturing and other industries in the North America region. In addition, the existence of manufacturers like Rockwell Automation, Inc., and GENERAL ELECTRIC coupled with presence of developed economies such as U.S. and Canada are fueling the demand for thermal overload relay instruments in the North America region. 

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Joint ventures and R&D investments are the frequent strategies are followed by the major manufacturers

Some of significant thermal overload relay market players are Siemens, General Electric, Mitsubishi Electric Corporation, Shern Dian Electric Corp, Larsen & Toubro Limited, ABB, Schneider Electric, Rockwell Automation, Inc., Shihlin Electric & Engineering Corp., Fuji Electric Co., among others. The established market participants are focusing on the inorganic growth strategies such as mergers & acquisition, collaboration & partnerships and product developments to rise their position in the global thermal overload relay industry. These are the most common approaches followed by well-known manufacturers.
 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Type

  • Bimetallic Strip
  • Melting Alloy

  Segmentation by Application

  • Electronics
  • Manufacturing
  • Aerospace & Defense
  • Others

  Key Countries Covered

U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • Siemens
  • General Electric
  • Mitsubishi Electric Corporation
  • Shern Dian Electric Corp
  • Larsen & Toubro Limited
  • ABB
  • Schneider Electric
  • Rockwell Automation, Inc.
  • Shihlin Electric & Engineering Corp.
  • Fuji Electric Co., Ltd

 


FREQUENTLY ASKED QUESTIONS?
 

A. Siemens, GENERAL ELECTRIC, Mitsubishi Electric Corporation, Schneider Electric and Rockwell Automation, Inc. are some of the leading companies in the global thermal overload relay market.

A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Product development, and joint ventures are the key strategies opted by the operating companies in this market.

A. GENERAL ELECTRIC, Mitsubishi Electric Corporation, LARSEN & TOUBRO LIMITED and Schneider Electric are investing more on R&D activities for developing new products and technologies.

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