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Global Relay Market Size, Share, Trends, Analysis, Report: By Type: Electromechanical, Thermal, Reed, Time, Solid State, Others; By Voltage Range: Low, Medium, High; By End Use: Aerospace, Defence and Military, Automotive, Communications, Energy and Power, Industrial, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Relay Market Outlook
The global relay market size reached around USD 8.80 billion in 2023. The market is projected to grow at a CAGR of 6.0% between 2024 and 2032, reaching almost USD 14.87 billion by 2032.
Key Takeaways:
- Thermal relays are expected to constitute a major portion of the global relay market share.
- The automotive sector is anticipated to become the leading end user of relays.
- North America is expected to dominate the demand for relays globally over the forecast period.
Thermal relays are expected to constitute a major portion of the global relay market share in the forecast period. This is because they provide effective protection to automotive parts and industrial machinery from overloads and excessive heating. Moreover, their simple design and high cost-effectiveness make them well-suited for applications in motor systems of vehicles.
The crucial role of high-voltage relays in maintaining the safety of electric circuits is expected to aid the global relay market growth. They are used extensively in the global energy and power sector for the transmission of electricity towards various end-use sectors. They are also used in high-voltage medical equipment such as X-rays and automotive battery testing systems.
The expansion of the global aerospace and defence manufacturing sector is expected to drive the global relay market expansion. This is because relays play a critical role in managing environmental controls and communication systems within spacecraft. They also activate the emergency operating systems of an aircraft during critical situations and protect the electrical components of the vehicle from overload.
Increasing customisation of relay manufacturing for different purposes such as electromagnetic interference shielding is further driving their demand. The integration of small-size relays into digital systems is enhancing the capabilities of military aircraft, contributing to the market growth.
Market Segmentation
Global Relay Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Electromechanical
- Thermal
- Reed
- Time
- Solid State
- Others
Market Breakup by Voltage Range
- Low
- Medium
- High
Market Breakup by End Use
- Aerospace, Defence and Military
- Automotive
- Communications
- Energy and Power
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The key global relay market players are Robert Bosch GmbH, TE Connectivity Ltd., Denson Corp., Eaton Corp. Plc, Schneider Electric SE, ABB Ltd., Panasonic Holdings Corp., Fujitsu Ltd., Nidec Corporation, Mitsuba Corp., Sensata Technologies Holding Plc, and Hongfa Technology Co. Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Voltage Range |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Relay Market Analysis
8.1 Key Industry Highlights
8.2 Global Relay Historical Market (2018-2023)
8.3 Global Relay Market Forecast (2024-2032)
8.4 Global Relay Market by Type
8.4.1 Electromechanical
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Thermal
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Reed
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Time
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Solid State
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Relay Market by Voltage Range
8.5.1 Low
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Medium
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 High
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Relay Market by End Use
8.6.1 Aerospace, Defence and Military
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Automotive
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Communications
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Energy and Power
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Industrial
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global Relay Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Relay Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Relay Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Relay Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Relay Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Relay Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 853641, 853649)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Robert Bosch GmbH
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 TE Connectivity Ltd.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Denson Corp.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Eaton Corp. Plc
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Schneider Electric SE
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 ABB Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Panasonic Holdings Corp.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Fujitsu Ltd.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Nidec Corporation
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Mitsuba Corp.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Sensata Technologies Holding Plc
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Hongfa Technology Co. Ltd.
17.2.12.1 Company Overview
17.2.12.2 Product Portfolio
17.2.12.3 Demographic Reach and Achievements
17.2.12.4 Certifications
17.2.13 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Relay Market: Key Industry Highlights, 2018 and 2032
2. Global Relay Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Relay Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Relay Historical Market: Breakup by Voltage Range (USD Billion), 2018-2023
5. Global Relay Market Forecast: Breakup by Voltage Range (USD Billion), 2024-2032
6. Global Relay Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Relay Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Relay Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Relay Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Relay Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Relay Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Relay Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Relay Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Relay Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Relay Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Relay Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Relay Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Relay Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Relay Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Relay Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 8.80 billion in 2023.
The market is projected to grow at a CAGR of 6.0% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 14.87 billion in 2032.
The different voltage ranges of relay include low, medium, and high.
The different end uses of relay include aerospace, defence, and military, automotive, communications, energy and power, and industrial, among others.
The major regions in the market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are Robert Bosch GmbH, TE Connectivity Ltd., Denson Corp., Eaton Corp. Plc, Schneider Electric SE, ABB Ltd., Panasonic Holdings Corp., Fujitsu Ltd., Nidec Corporation, Mitsuba Corp., Sensata Technologies Holding Plc, and Hongfa Technology Co. Ltd., among others.
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