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Global Relay Market Anticipated to Achieve Value of over US$7.5 Billion by 2025

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 Published Date : 31 Oct 19   |   Views: 18   |  Industry : Electronics & Semiconductor

Global Relay Market Anticipated to Achieve Value of over US$7.5 Billion by 2025

QYR Consulting has announced the addition of a new report to its electronics and semiconductor archive of market research studies. The global relay market is deeply analyzed by the authors of this report, titled “Relay Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025.” According to the analysts, the global relay market is predicted to earn revenue of more than US$7.5 Bn by the end of 2025, growing at an almost moderate CAGR of 3.9% during the forecast period 2019-2025. In 2018, the global market value reached over US$5.5 Bn.

Segmental Analysis

Demand for Relay to Increase in Automotive Industry with Increased Vehicle Electrification

Based on application, the global relay market is segmented into household appliance, communications, industrial, automotive, and others. Buyers of the report are also provided with exhaustive analysis of product type segments of the global relay market such as combined relay, SSR/power module, electromagnetic, and others. Printed circuit board-mount SSR is capable of replacing traditional panel-mount SSR and finds important application in portable dialysis machines. The automotive industry is expected to create demand for relay due to increasing electrification of automobiles. SSR of plug-in type is used in several automotive applications, including door lock, electrically heated catalytic converter, pump, and motor.

Global Relay Market Anticipated to Achieve Value of over US$7.5 Billion by 2025

Europe

Global Relay Market Anticipated to Achieve Value of over US$7.5 Billion by 2025

Regional Analysis


Relay Manufacturers Expected to Show Interest in China Market due to Low Costs

The US and Europe are anticipated to create demand for relay on the back of key positive factors such as rising adoption, increasing competition, introduction of new products, increased retrofitting with new relays, and high sales on household appliances. China could attract relay manufacturers in future because of its lower labor and raw material costs. High automobile production, increasing significance of electronics in the automotive industry, and increased manufacturing of electric cars in China and Japan are predicted to boost the demand for automotive relay in Asia Pacific.

Key Players


Players Expected to Improve Technology to Introduce Products with Better Functionality

The report offers thorough assessment of the market growth of leading players of the global relay market such as Omron, Ningbo Huike, TE Connectivity, Qunli Electric, Panasonic, Tianyi Electric, Fujitsu, Songle Relay, Teledyne, Hu Gong, ABB, Schneider Electric, Delixi, Eaton, Chint Electrics, Honeywell, Ningbo Forward, Fuji Electric, Sanyou, Sharp, Song Chuan, Rockwell Automation, Hongfa, Finder, and Hella.


Global Relay Market Anticipated to Achieve Value of over US$7.5 Billion by 2025

Global CAGR During 2019-2025


3.9%

Market Dynamics


Application of High Current Rating SSR in Energy Infrastructure Likely to Strengthen Demand

The global relay market is expected to benefit from growing use of solid state relay (SSR) with high current rating in applications such as machine tools, conveyor systems, and elevators. High current rating SSR also finds application in energy infrastructure and building equipment. Demand for SSR could increase in key end-use industries due to its compactness, long operating life, shock resistance, and high switching frequency. High use of consumer electronic products such as kitchen appliances is anticipated to push forward the requirement for electromechanical relay. Demand for automotive relay could improve as the use of electric components continues to increase rapidly in existing and upcoming automobiles.

For more information, please click: https://www.qyrconsulting.com/reports/relay-market



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