Global Relay And Industrial Controls Market Size, Drivers, Trends, Opportunities And Strategies – Includes Relay And Industrial Controls Market Share
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Rapid growth in investments in smart city projects in many countries globally are expected to drive innovation in relay and industrial controls manufacturing, thus driving the market during the forecast period.
The global relay and industrial controls market is expected to grow from $143.36 billion in 2022 to $152.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The global relay and industrial controls market size is expected to grow to $188.65 billion in 2027 at a CAGR of 5.4%.
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Global Relay And Industrial Controls Market Segments Include:
- By Application:Automotive, Industrial, Communications, Household Appliance, Other Applications
- By Control system:Distributed Control System (DCS), Supervisory Control & Data Acquisition System (SCADA), Manufacturing Execution System (MES)
- By Component:Modular Terminal Blocks, Relays & Optocouplers, Surge Protectors, Marking Systems, Printing, Ferulles Cable Lugs, Handtools, Testers, Enclosure Products, PCB Connectors & Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housing, Power Supplies, Industrial Etherne, Remote IO
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global relay and industrial controls market in 2021.
Major Market Players in the relay and industrial controls market include ABB Ltd., Siemens, Honeywell International Incorporation, Emerson Electric Company, Schneider Electric SA, Mitsubishi Electric Factory Automation.
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. For instance, Omron’s plug-in automotive relays that range from 20A to 70A are used in automotive applications such as artery motors, heater controls, windscreen wipers, and any applications that require high continuous current switching.
The Relay And Industrial Controls Global Market Report 2023 provides a relay and industrial controls market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The relay and industrial controls market forecast analyzes relay and industrial controls market size, relay and industrial controls market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
A relay is defined as an electromagnetic switch that opens or closes a circuit to regulate the flow of electricity in single or multiple circuits controlled by one signal. Industrial control refers to electronic control systems that can control, monitor, and automate industrial processes.
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