Learn about the global Relays market through The Business Research Company, which provides information on relays market size, relays market drivers and restraints, relays market players, the COVID-19 impact on the relays market, and more.

The global relays market size is expected to grow from $6.29 billion in 2021 to $6.77 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The growth in the market 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 relay market is expected to reach $8.38 billion in 2026 at a CAGR of 5.5%.

Increasing investments in solar energy projects globally is expected to drive the relays market in the forecast period.

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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.

Global Relays Market Segments Include:
By Type: Latching Relay, Solid State Relay, Automotive Relay, Overload Protection Relay, Electromechanical Relay, Others

By Application: Military, Industrial Automation, Electronics, Others

By Voltage: Low, Medium, High

By End-User: Utilities, Industrial, Railways, Others (Airports, Hospitals, Commercial Complexes and Data Centres)

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Asia Pacific was the largest region in the relays market in 2021.

Plug-in relays are 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.

TBRC’s relays market report covers:

Major Market Players: Omron, Crydom Corp, Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne, Hongfa, and Ningbo Forward.

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 (2016-21) and ten years forecast (2022-2026-2031)

The Relays Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 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, leading competitor revenues, profiles and market shares.

TBRC’s relays market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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