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The safety relay and timers market in the Asia-Pacific region is estimated to be worth USD XX billion in 2016 and is projected to grow at a CAGR of XX.XX% during the forecast period to reach USD XX billion by 2021.
Even though China, the region with the largest market share in APAC, showed sluggish growth in 2014, APAC is expected to have the largest market for safety relays & timers. The shift of manufacturing industries to Asia, the growing dispensable income among the middle class, and the developments in the South East Asia, including the ‘Make in India’ campaign by the Indian government, will boost the safety relays & timers market in Asia.
The Asia-Pacific safety relays and timers market is broadly segmented on the basis of types, end-users, and geography. On the basis of types, the safety relays market has been segmented into single-function safety relays and modular & configurable safety relays. On the basis of its end-users, its applications have been explained under segments such as automotive, energy & power, manufacturing, pharmaceutical, construction, and more.
Some of the market players mentioned in the report are:
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India
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