Global Relay Market Report 2022



Major players in the relay market are Omron, Crydom Corp, Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne, Hongfa, and Ningbo Forward. The global relay market is expected to grow from $6.

New York, March 24, 2022 (GLOBE NEWSWIRE) — announces the release of “Relays Global Market Report 2022” –
29 billion in 2021 to $6.77 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The growth is primarily due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working, and the closure of business activities that resulted in operational challenges. The market is expected to reach $8.38 billion in 2026 with a CAGR of 5.5%.

The relay market consists of the sale of relays that are electromagnetic switches that are used to turn a circuit on or off electronically or electromechanically. They work by opening one electrical circuit and closing contacts in another circuit.

The relays include PCB power relays, signal relays, and plug-in relays.

The main types of relays are latching relay, solid state relay, automotive relay, overload protection relay, electromechanical relay, and others. Latching relay refers to a relay that retains its contact position after control power has been removed.

Latching relays allow a customer to control a circuit with a single pulse to the relay’s control circuit. Relays work on various voltages including low, medium and high.

The relays are used for military, industrial automation, electronic and other applications by utilities, industrial, railway and other end users.

Asia Pacific was the largest region in the relay market in 2021. North America was the second largest region in the relay market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Increasing investments in solar power projects globally are expected to drive the relay market in the forecast period. Relays are used in solar power projects to cut off high DC voltages.

According to UNEP’s Global Trends in Renewable Energy Investment 2019 report, solar power attracted the largest investments in capacity globally at $133.5 billion. The Middle East Solar Industry Association (MESIA) expects more than $15 billion worth of solar energy projects to begin operations in the Middle East within the next five years. With the increasing demand for solar power projects, relay manufacturers now offer relays that are compatible with solar power systems. For example, Fujitsu offers relays specially designed for solar applications.

The high power consumption of relays and the presence of alternatives such as optocouplers (opt-isolators) is acting as a constraint on the relay market. Relays are used to turn a circuit on or off electronically or electromechanically.

Relays pose a problem where power consumption needs to be kept to a minimum. For example, to turn on a small LED light, the power consumed by the relay could be greater than the power consumed by the light.

Additionally, solar PV systems may require larger solar panels and batteries to offset excess power draw from the relays. This increases costs and limits the use of relays in such applications.

Plug-in relays are increasingly used in the automotive industry due to their light weight compared to electromechanical relays. These relays can handle a high current rating and operating voltage similar to electromechanical type relays.

Plug-in relays are used in automotive applications such as electrically heated catalytic converters, heater controls, windshield wipers, motors and pumps, and body electronics such as door locks, seat controls, window regulators, and others. For example, Omron’s plug-in automotive relays ranging from 20A to 70A are used in automotive applications such as artery motors, heater controls, windshield wipers, and any application that requires high continuous current switching.

In June 2019, TE Connectivity (TE), a consumer electronics company, acquired the Kissling group of companies for an undisclosed amount. The acquisition will allow TE to expand its portfolio of relays and specialty switches to meet the needs of industrial and commercial transportation customers. .

Kissling Group is a supplier of high power relays and ruggedized switches used in various applications such as commercial vehicles, transportation, industrial, military, aviation and other industries.

Countries Covered in Relay Market Report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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