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Relay Market

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.

 

Global Relay Market

 

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:

  • Type
  • Voltage Range
  • End Use
  • Region
Breakup by Type
  • Electromechanical
  • Thermal
  • Reed
  • Time
  • Solid State
  • Others
Breakup by Voltage Range
  • Low
  • Medium
  • High
Breakup by End Use
  • Aerospace, Defence and Military
  • Automotive
  • Communications
  • Energy and Power
  • Industrial
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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
  • Hongfa Technology Co. Ltd.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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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