Dublin, June 04, 2021 (GLOBE NEWSWIRE) – The “Relays Global Market Report 2021: Impact of COVID-19 and recovery until 2030” report was added to ResearchAndMarkets.com offer.
The main players in the relay market are Omron, Crydom Corp, Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne and Hongfa.
The global relay market is expected to grow from $ 26.36 billion in 2020 to $ 28.53 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%.
The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges.
The market is expected to reach $ 34.86 billion in 2025 at a CAGR of 5%.
Increased investment in solar power projects globally is expected to boost the relay market during the forecast period. Relays are used in solar power projects to cut off high DC voltages. According to UNEP’s Global Trends in Renewable Energy Investment 2019 report, solar power has attracted the highest capacity investments in the world with $ 133.5 billion.
The Middle East Solar Industry Association (MESIA) expects more than $ 15 billion worth of solar power projects to start in the Middle East over the next five years. With the growing demand for solar power projects, relay manufacturers are now offering relays that are compatible with solar power systems. For example, Fujitsu offers relays specifically designed for solar applications.
The relay market consists of the sale of relays which are electromagnetic switches used to turn a circuit on or off electronically or electromechanically. They work by opening one electrical circuit and closing contacts in another circuit. Relays include PCB power relays, signal relays, and plug-in relays.
The high power consumption of relays and the presence of alternatives such as optocouplers (opt-isolators) constitute a constraint on the relay market. Relays are used to turn a circuit on or off electronically or electromechanically. Relays are a problem in cases where power consumption needs to be kept to a minimum.
For example, to turn on a small LED light, the power consumed by the relay could be more than the power consumed by the light. Additionally, solar PV systems may require larger solar panels and a battery to compensate for the excessive power consumption of the relays. This increases costs and limits the use of relays in such applications.
Plug-in relays are increasingly used in the automotive sector due to their low weight compared to electromechanical relays. These relays can handle a high rated current and an operating voltage similar to that of electromechanical type relays. Plug-in relays are used in automotive applications such as electrically heated catalytic converters, heater controls, wipers, motors and pumps, and body electronics, such as door locks, controls seat, window regulators and others.
For example, Omron’s 20A to 70A plug-in automotive relays are used in automotive applications such as feeder motors, heater controls, windshield wipers, and any application that requires DC switching. Student.
In June 2019, TE Connectivity (TE), a consumer electronics company, acquired the Kissling group of companies for an undisclosed amount. The acquisition will allow TE to expand its portfolio of specialized relays and switches to meet the needs of industrial and commercial transportation customers. The Kissling Group is a supplier of high power relays and ruggedized switches that are used in various applications such as commercial vehicles, transportation, industrial, military, aircraft and other industries.
Main topics covered:
2. Characteristics of the relay market
3. Trends and strategies in the relay market
4. Impact of COVID-19 on relays
5. Size and growth of the relay market
5.1. Historical Global Relay Market, 2015-2020, in USD Billion
5.1.1. Market drivers
5.1.2. Market constraints
5.2. Global Relay Forecast Market, 2020-2025F, 2030F, in USD Billion
5.2.1. Market drivers
5.2.2. Market constraints
6. Segmentation of the relay market
6.1. Global Relay Market, Segmentation by Type, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.2. Global Relay Market, Segmentation by Application, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.3. Global Relay Market, Segmentation by Voltage, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
6.4. Global Relay Market, Segmentation by End User, History and Forecast, 2015-2020, 2020-2025F, 2030F, in USD Billion
7. Regional and national analysis of the relay market
7.1. Global relay market, divided by region, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
7.2. Global relay market, divided by country, historical and forecast, 2015-2020, 2020-2025F, 2030F, in billions of dollars
For more information on this report, visit https://www.researchandmarkets.com/r/jfvtni
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