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 and related services by entities (organizations, sole traders and partnerships) that produce relays that are used in various applications such as in industrial automation, electronics, automotive, military and aerospace and similar other applications. Relays are electric switches that use electromagnetism to convert small electrical stimuli into larger currents. Relays make and break circuit contact with the help of a signal without any human involvement in order to switch it ON or OFF. They are used mostly to control a high-powered circuit using a low power signal.
The global relays market is expected to decrease from $29,265.8 million in 2019 to $27,416.7 million in 2020 at a rate of -6.3%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.8% from 2021 and reach $34,423.4 million in 2023.
Developed and developing countries across the world are investing in the construction of smart power grids and this factor is expected to drive the market for relays in the forecast period.
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Some relays market trends include increasingly manufacturing eco-efficient relays. For instance, Fujitsu’s eco-efficient latching relay is an alternative to cadmium for improved eco-efficiency and a lower environmental impact. Moreover, companies in the relay industry are increasingly investing in specialized relays for specific industries or projects, thus resulting as an emerging trend in the relays market. Industries, such as Solar Energy Systems, have increased demand for specialized relays that can utilize available power and shut off some lines to keep others running.
Global relays market segments include:
1) By Type: Latching Relay, Solid State Relay, Automotive Relay, Electromechanical Relay, Others
2) By Application: Military, Industrial Automation, Electronics, Others
3) By Voltage: Relays < 60 Volts, Relays > 60 Volts
4) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Relays Opportunities And Strategies: Forecast To 2023 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 identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Relays Opportunities And Strategies: Forecast To 2023 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: Siemens AG, Schneider Electric, TE Connectivity, ABB Ltd., Eaton Corporation
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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