Global Industrial Relay Market Overview:
Industrial relay is a switch that open and close circuits electromechanically or electronically. It is generally used to switch smaller currents in a control circuit and do not usually control power consuming devices except for small motors and Solenoids that draw low amps. It is being used in the industrial purposes as it protects the systems from overloading, short circuit and overvoltage.
As per latest study released by AMA Research, the Global Industrial Relay market is expected to see growth rate of 5.4%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
High Growth Market | Asia Pacific |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Introduction of Innovative New Relays for Various Protection Systems of Industrial Sector
Market Growth Drivers:
Increased Demand for Overload Protection Relays in the Industries and Advancements in the Industrial Relay Technology
Challenges:
Increasing Competition in the Market and Slowdown in the World Economy
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Increasing Demand for Electronic Devices and Growing Need for Power
Competitive Landscape:
Key players are targeting innovation of solutions with better characteristics and quality. key vendors are anticipated to keep a strong position in the market during the forecasted period. Further, companies are also targeting mergers & acquisitions to expand their presence in other geographies.
Some of the key players profiled in the report are Comus International Inc. (United States), Crydom Inc. (United States), Alstom S.A. (France), Omron Corp. (Japan), Fujitsu Ltd. (Japan), Teledyne Relays Inc. (United States), Coto Technology Inc. (United States), StandexMeder Electronics GmbH (Germany), Siemens AG (Germany), Schneider Electric SE (France) and ABB (Switzerland). Analyst at AMA Research see Global Players to retain maximum share of Global Industrial Relay market by 2030. Considering Market by Distribution Chanel, the sub-segment i.e. Online will boost the Industrial Relay market.
Latest Market Insights:
In November 2020, TE Connectivity (TE), a world leader in connectivity and sensors, has announced that it has completed the acquisition of DRI Relays Inc. This acquisition demonstrates our continued commitment to providing innovative solutions for customers – a common purpose shared by both companies. With this deal, TE strengthens our presence in the midrange power segment with an expanded product offering that will further enhance our ability to provide industry
In May 2023, OMRON has announced the launch of its latest industrial 6mm electromechanical relay – the G2RV-ST. This new design offers machine manufacturers and panel builders the ideal solution for compact panels and equipment, while providing all the durability and reliability required for industrial applications.
What Can be Explored with the Industrial Relay Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Industrial Relay Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Industrial Relay
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Relay market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Relay market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Industrial Relay Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.