The relay and industrial control manufacturing industry comprise establishments manufacturing relays, motor starters and controllers and other industrial controls and control accessories. Major products in this industry are control circuit relays and devices, brakes and clutches, armature relays, motor controls and starters, solenoid switches, timing devices, rheostats and others.
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The global relay and industrial control manufacturing market has shown high powered growth in the past years with a CAGR of over 8%. The year 2017 recorded highest ever growth in this market with a net value of over $60 billion as per TBRC’s in-house consultants.
TBRC’s latest report show the growing trends in the market for each year, globally and geographically with sourced reasons to support the growth claims.
The report also shows the relay and industrial control manufacturing market decline by nearly half the CAGR by 2021 as compared to 2017.
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Africa emerged as the fastest growing market with the highest CAGR at about 8%, with a market share of 12%. Africa was followed by Middle East which had a CAGR of 7%, and 11% market share.
Companies included in the report are ABB Ltd, Rockwell Automation, Schneider Electric S.A., Omron Corporation, and Siemens.
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