Temperature Monitoring Relays Market Report | Global Forecast To 2028
The global temperature monitoring relays market size is expected to grow from USD 1.4 billion in 2021 to USD X.X billion by 2028, at a CAGR of 7%. The key factors driving the growth are the installation of temperature monitoring relays for minimizing damage caused due to overheating and undercooling of industrial assets, increasing use of temperature monitoring relays for residential applications, and growing demand for improving efficiencies through energy management systems.
Temperature Monitoring Relays is a device that senses temperature and controls or monitors other devices according to the set parameters. It doesn’t allow high temperatures by switching off electrical equipment, thereby protecting it from damage due to overheating as well as undercooling of industrial assets such as turbines, compressors, etc. Temperature monitoring relays also monitor power supply voltage levels in critical applications like data centers and telecom networks. Also known as “temperature controlling switchgear relay”, it finds usage across various segments such as commercial use (HVACs), residential use (refrigerators), and others including gas compressor stations, petrochemical plants, etc.
On the basis of types, the market is segmented into Overtemperature Monitoring, Undertemperature Monitoring.
Overtemperature Monitoring
Overtemperature Monitoring is a device that senses high temperatures and controls or monitors other devices according to the set parameters. It doesn’t allow high temperatures by switching off electrical equipment, thereby protecting it from damage due to overheating as well as undercooling of industrial assets such as turbines, compressors, etc. Overtemperature monitoring relays also monitor power supply voltage levels in critical applications like data centers and telecom networks.
Undertemperature Monitoring
Under temperature, Monitoring is a type of Temperature Monitoring relay which helps in preventing damage due to undercooling. Under temperature, monitoring relays are designed with bimetallic elements or thermocouples that sense the temperature rise inside the switchgear relays and trip them if it crosses an adjustable set-point limit before any serious damages occur. It includes protection from the shutdown, tripping, and resetting during an overcurrent situation as it senses the temperature drop inside the switchgear relays through bimetallic elements or thermocouples.
On the basis of application, this market is segmented into Industrial Use, Commercial Use, Residential Use, and Others.
Industrial Use
Temperature Monitoring Relays is extensively used in the industrial sector as it helps to protect electrical equipment from damage due to overheating and undercooling of industrial assets such as turbines, compressors, etc. It prevents damages arising out of fluctuating temperature levels that can impact efficiency and productivity. Using temperature monitoring relays in industrial use enables minimizing downtime of equipment and maintain its performance.
Commercial Use
Temperature monitoring relays can be used in commercial use to sense the temperature of a device and also transmit alerts if it goes above or below a certain limit. In the case of an industrial process, these devices monitor high-temperature flue gases after combustion has been completed, as well as low-temperature heat sources such as solar radiation collectors and geothermal energy installations.
Residential Use
Temperature Monitoring Relays are a type of device that relays the temperature information from a system or machine to another location. Many different types of Temperature Monitoring Relay devices can be used in residential applications, such as overtemperature monitoring and under-temperature monitoring. In an overtemperature relay, if the sensors within a building begin to show elevated temperatures, this could indicate impending issues with certain systems. If these systems fail, it will cause further damage and create even more problems for those living in the residence.
On basis of region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. North America is anticipated to have the largest share of the global Temperature Monitoring Relays market in 2018 followed by Europe and Asia Pacific region. The growth of this market in the North American region can be attributed to increasing awareness about smart houses among consumers driving the use of temperature monitoring relays.
Growth factors of the Temperature Monitoring Relay Market
The rising demand for Temperature Monitoring Relays in commercial applications is expected to drive the growth of the market. The use of temperature monitoring relays ensures that devices are functioning at optimal temperatures, preventing potential damage or malfunctioning and thus saving energy costs. Moreover, the increasing need for automation across various industries such as the healthcare facilities & the technology industry would create new opportunities for key players operating in the global Temperature Monitoring Relays market. Furthermore, an Increase in the adoption of internet-of-things (IOT) by manufacturers will provide significant opportunities to key players operating globally. However, limited compatibility between different types of sensors could pose a challenge to vendors’ expansion plans over the forecast period 2017–2028.
Dataintelo published a new report titled “Temperature Monitoring Relays Market research report which is segmented by Types (Overtemperature Monitoring, Undertemperature Monitoring), By Applications (Industrial Use, Commercial Use, Residential Use, Others), By Players/Companies ABB, Siemens, OMRON, PHOENIX CONTACT, Power Automation, Crouzet, General Industrial Controls”.
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Temperature Monitoring Relays Market Report Segments:
The market is segmented by Type Overtemperature Monitoring, Undertemperature Monitoring and By Application Industrial Use, Commercial Use, Residential Use, Others.
Some of the companies that are profiled in this report are:
ABB
Siemens
OMRON
PHOENIX CONTACT
Power Automation
Crouzet
General Industrial Controls
Temperature Monitoring Relays Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Temperature Monitoring Relays Market
Overview of the regional outlook of the Temperature Monitoring Relays Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Read More at: https://dataintelo.com/report/temperature-monitoring-relays-market/
Highlights of The Temperature Monitoring Relays Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of Temperature Monitoring Relays Market.
Historical data and forecast.
Estimations for the forecast period 2028.
Developments and trends in the market.
By Type:
Overtemperature Monitoring
Undertemperature Monitoring
By Application:
Industrial Use
Commercial Use
Residential Use
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Temperature Monitoring Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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Reasons to Purchase the Temperature Monitoring Relays Market Report:
The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
