Global Relays Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Relays Market Report by The Business Research Company covers relays market drivers and restraints, relays market size, major players, and the impact of COVID-19 on the relays market.
The relays market consists of sales of relays which are electromagnetic switches used to turn on or turn off a circuit electronically or electromechanically. They operate by opening one electrical circuit and closing contacts in another circuit. Relays include PCB power relays, signal relays and plugin relays.
Increasing investments in solar energy projects globally is expected to drive the relays market in the forecast period. Relays are used in solar energy projects to cut off high DC voltages.
The global relays 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 the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $34.86 billion in 2025 at a CAGR of 5%.
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Some relays market trends include plug-in relays increasingly being used in the automotive sector due to their light weight compared to electromechanical relays. These relays can handle high-rated current and operating voltage similar to that of electromechanical type relays. Plug-in relays are being used in automobile applications such as electrically heated catalytic converters, heater controls, windscreen wipers, motors and pumps, and body electronics, such as door locks, seat controls, window lifters and others.
Global relays market segments include:
1) By Type: Latching Relay, Solid State Relay, Automotive Relay, Overload Protection Relay, Electromechanical Relay, Others.
2) By Application: Military, Industrial Automation, Electronics, Others.
3) By Voltage: Low, Medium, High
4) By End-User: Utilities, Industrial, Railways, Others (Airports, Hospitals, Commercial Complexes, Data Centers).
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Relays Global Market Report 2021: COVID 19 Impact and Recovery to 2030 At:
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The Relays Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides relays market overviews, analyzes and forecasts market size, share, relays market players, relays market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The relays market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Relays Global Market Report 2021: COVID 19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Omron, Crydom Corp, Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne, Hongfa, Ningbo Forward, Sharp, Delixi, Song Chuan, Hella, Rockwell Automation, Sanyou, Finder, Hu Gong, Ningbo Huike, Qunli Electric, Songle Relay, Tianyi Electrical, Coto Technology, StandexMeder Electronics GmbH.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The relays Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The relays Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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