Market Snapshot:
Electromagnetic relay is a relay, basically, an electromagnetic switch is used to switch high voltage or current by using low power circuits. It is highly used in controlling home appliances with a normal low voltage electronic circuits. It uses an electromagnet to perform a switching mechanism mechanically. It also delivers isolation between low power circuit and high power circuits. This electromagnet is made up of a coil of wire wrapped across the soft iron core which offers a low reluctance path for magnetic flux.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Schneider (France), Siemens (Germany), Relpol (Poland), Panasonic (Japan), Teledyne Relays (United States), Omron (Japan), TE Connectivity Ltd. (Switzerland), Eaton Corporation (Ireland), Hitachi (Japan), ABB (Switzerland) and General Electric (United States) |
Segment Analysis
AMA Research have segmented the market of Global Electromagnetic Relays market by Type, Application and Region.
On the basis of geography, the market of Electromagnetic 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).
region held largest market share in the year 2023.
Market Trend
Technology Advancement in Production for Security Concern
Market Drivers
Increasing Number of Kitchen Electronics Appliances and Rising Demand for Electronic Products
Opportunities
Growing Number of Car Manufacturing Companies across the Globe
Restraints
- Fluctuation in Foreign Currency Exchange Rates
In addition to the aforementioned factor, Increasing Number of Kitchen Electronics Appliances
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The global electromagnetic relays market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability.
The key Manufacturers profiled in the study are Schneider (France), Siemens (Germany), Relpol (Poland), Panasonic (Japan), Teledyne Relays (United States), Omron (Japan), TE Connectivity Ltd. (Switzerland), Eaton Corporation (Ireland), Hitachi (Japan), ABB (Switzerland) and General Electric (United States). A lot of Japan players are profiled in the research study indicating a strong market dependence.