The thermal overload relays market is projected to witness a compound annual growth rate of 7.68% during the forecast period to reach a total market size of US$572.224 million by 2023, increasing from US$367.080 million in 2017.
Thermal overload relays are electromechanical devices which offer protection to motors in case of an overload or phase failure. Increasing manufacturing activities will boost the demand for motors, which in turn will drive the demand for thermal overload relays. In addition, the demand for economical overload protection devices will further boost the demand for these relays.
The Asia Pacific held a significant market share in 2017 and the region is projected to witness impressive growth over the forecast period due to favourable government policies promoting manufacturing activities and increasing investment major market players in this region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions.
Major industry players profiled as part of the report are Schneider Electric, General Electric Company, Rockwell Automation, Mitsubishi Electric, Larsen & Toubro Limited among others.
By End-User Industry:
Electrical and Electronics
Aerospace and Defense
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Thermal Overload Relays Market By Type
6. Thermal Overload Relays Market By End-User Industry