Relays Industry Forecast to Hit $8.13 Billion by 2029 With a Strong 5.1% CAGR

November 14, 2025 by The Business Research Company

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What Are The Growth Projections For The Relays Market Size During 2025–2029?

Relay market valuation has seen modest expansion recently, projected to rise from $6.59 billion in 2024 to $6.67 billion the following year, reflecting a compound annual growth rate (CAGR) of merely 1.2%. This historical upward trend is largely explainable by several factors: the boost from increased renewable energy installations, the wider integration of the IEC 61850 standard for automating electrical substations, the transition away from older electromechanical and static relay types toward modern numeric relays, supportive government policies, and the general economic expansion witnessed in developing economies.

Anticipation surrounds the relays sector, projecting substantial future expansion, as the valuation is set to reach $8.13 billion by 2029, reflecting a consistent year-over-year increase of 5.1 percent. This upward trajectory in the coming years is fundamentally driven by escalating worldwide power demands, the deployment of intelligent electrical networks, the broader integration of electric automobiles, and the progressive uptake of vehicle safety features. Key developmental movements shaping the near future encompass channeling capital into environmentally conscious solutions to lessen ecological footprints and achieve lasting sustainability, allocating funds towards electromagnetic relays to maximize resource efficiency, engineering and actively marketing relays tailored for niche industrial applications, creating multi-functional relay devices, and pursuing mergers and acquisitions as a strategy to broaden market presence through access to a larger clientele.

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What Are The Drivers Pushing New Developments In The Relays Market?

The expanding commitment to solar power initiatives around the world is projected to propel the relays sector forward during the anticipated timeframe, given that relays are essential components employed in these solar setups for the purpose of interrupting substantial direct current electrical potentials. To illustrate this trend, data from Wood Mackenzie Limited, an energy transition data firm based in the US, indicated that the direct current capacity installed within the American solar industry during the third quarter of 2023 reached 6.5 gigawatt-direct current (GWdc), marking a significant 35 percent increase compared to the 4.8 GWdc figure recorded in the third quarter of 2022. Furthermore, the aggregate utility-scale solar installations across the United States saw an escalation from roughly 17 GWdc in 2022 to approximately 23 GWdc by 2023, directly supporting the conclusion that greater investment in solar energy endeavors is fueling the expansion of the relays market.

Which Key Segments Fueling The Relays Market?

The relays market covered in this report is segmented –

1) By Type: Latching Relay, Solid State Relay, Automotive Relay, Electromechanical Relay, Other Types

2) By Voltage: Relays < 60 Volts, Relays > 60 Volts

3) By Application: Military, Industrial Automation, Electronics, Others Applications

4) By End-User: Utilities, Industrial, Railways, Others End users

Subsegments:

1) By Latching Relay: Electromechanical Latching Relay, Solid State Latching Relay

2) By Solid State Relay: DC Solid State Relay, AC Solid State Relay

3) By Automotive Relay: General Purpose Automotive Relay, Miniature Automotive Relay, Heavy-Duty Automotive Relay

4) By Electromechanical Relay: Single Pole Relay, Double Pole Relay, Time Delay Relay

5) By Other Types: Reed Relay, Mercury Relay, Hybrid Relay

Which Ongoing Trends Are Expected To Shape The Relays Market Outlook?

Automotive applications are increasingly incorporating solid-state plug-in relays owing to their significantly reduced weight when contrasted with traditional electromechanical relays, while maintaining the capacity to manage comparable high current ratings and operating voltages. These versatile components find utility across numerous vehicle systems, including those powering electrically heated catalytic converters, climate control units, wiper mechanisms, various motors and pumps, and even body control features like the actuation of door latches, seating adjustments, and window operation. Specifically, Omron’s range of automotive plug-in relays, available in capacities spanning from 20 to 70 amperes, proves well-suited for demanding in-car uses such as starter motors, managing heating systems, operating windshield wipers, and generally whenever continuous high-current switching capability is a necessity.

Which Major Industry Participants Are Leading The Relays Market Growth?

Major companies operating in the relays market include Siemens, Schneider Electric, TE Connectivity, ABB Ltd., Eaton Corporation, Toshiba, Mitsubishi Electric Corporation, Omron Corporation, General Electric, Fujitsu Ltd., Xiamen Hongfa Electroacoustic Co., Ltd, Shanghai Hugong Auto-Electric Co., Ltd., Hitachi, Ltd., Areva T&D India Ltd., Alstom SA, Song Chuan Group, Guizhou Space Appliance Co., Ltd., Dongguan Sanyou Electrical Appliances Co., Ltd., Zhejiang HKE Relays Co., Ltd., Ningbo Forward Relays Co., Ltd., Audix Technology, DARE Electronics, Inc., Leone Systems, Ashida Electronics Pvt. Ltd., Control &Relays Electric Limited, Mitsuba Corporation, Tatsumi Industry, Kamigumi CO, Panasonic industries Devices, Nissin Corp., Crydom Corp, Crouzet, Finder, Wieland, S&C Electric Company, Powell Industries, G&W Electric, Abunayyan Holding Company, Afcon, Actom, Matelec Group, Egyptian German Electrical Manufacturing Co

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What Are The Key Regional Factors Influencing The Relays Market Growth?

Asia-Pacific was the largest region in the relays market in 2024. North America was the second-largest region in the global relays market share. The regions covered in the relays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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