About Overload Relays
Overload relay also called overload release is an electrical device which provides overload protection. When the load exceeds the preset value the circuit opens. It responds to excessive currents and value of power, temperature or others. In addition, it tracks electrical problems such as jams, and ground faults in real time. The overload relay have different types such as Magnetic, thermal, electronic, and dashpot overload relays. It is applicable in Generators, Motors, transformers and other electrical devices.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market of Overload relays is highly competitive due to various factors such as increasing adoption of overload relays. The key players are focusing on cost reduction, and enhanced customer experience. Also, the players are adopting unique competitive strategy to gain competitive advantage. Analyst at AMA Research estimates that Europe Manufacturers will contribute the maximum growth to Global Overload Relays market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Rockwell Automation (United States), Eaton (Ireland), Siemens (Germany), Schneider Electric (France), Delixi Group (China), Sprecher+Schuh (United States), Littelfuse (United States), WEG (Brazil) and MTE (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Greegoo (China).
Segmentation Overview
AMA Research has segmented the market of Global Overload Relays market by Type (Magnetic overload Relay, Thermal overload relay, Electronic Overload Relays, Dashpot Overload Relays and Bimetal Strip Overload Relay), Application (Generators, Motors, Transformers, Capacitor and Other) and Region.
On the basis of geography, the market of Overload Relays has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End users, the sub-segment i.e. Process Industries will boost the Overload Relays market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Smart Electronic Overload Relays in Process Industries
Market Growth Drivers:
Advantages of Smart Electric Overload Such as Ease of Configuration, and Remote Monitoring
Challenges:
Stiff Competition among the Major Players
Restraints:
Thermal restraint
Opportunities:
Growing Industrialisation in Developing Economies
Market Leaders and their expansionary development strategies
In August 2023, ABB collaborates with Mitsubishi Electric this alliance targets the development of intelligent motor protection systems, leveraging ABB's overload relay technology and Mitsubishi Electric's automation expertise.
In October 2023, Siemens releases SIRIUS 3RS2 overload relay series. This series emphasizes compact size and cost-effectiveness while providing reliable motor protection. It's well-suited for basic applications in industrial and commercial settings.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.