Electromechanical Relay Market: Asia Pacific to Witness Rapid Growth
Introduction
Electromechanical relays are switches that control high power electrical
devices by using a small amount of power. It can be operated by both AC and DC
current; a magnetic force is generated when the power is supplied controlling
the mechanism in the switch. Electromechanical relays provide good performance.
These have a longer operational life and they also consume less power. The electromechanical
relay market size is increasing due to their various functions such as on
and off control, limit control, and logic operations. Electromechanical relays
have various applications in several end-user industries, some of its
applications are power supply switching in TVs, DTH boxes, and factory
automation, temperature controller in HVAC devices, motor controllers, and
others.
Drivers and
restraints of
Electromechanical Relay Market
Globally rising energy prices are driving the demand for advanced
electromechanical relays to reduce power consumption. Increasing awareness for
the environment has led to the rising number of renewable energy projects that
are fuelling the demand for high capacity electromechanical relays, thus
positively impacting the global electromechanical relay market growth.
Increasing demand for electromechanical relays due to its low cost, long operation
life, less power consumption, and easy maintenance is augmenting the market
growth. Electromechanical relay is widely used in home appliances, especially
in kitchen appliances. Increasing use in the automobile sector in the fuse box
to prevent the circuits from overload and faults is also fueling the growth of
the market. However, the availability of solid-state relays (SSRs) as a
substitute due to advancements in semiconductor fabrication and manufacturing
technology may hamper the growth of the market.
Market
Segmentation
By type, the market is segmented into the general-purpose relay, power
relay, contactor, time-delay relay, and others. By application, the market is
segmented into factory automation, temperature controllers, motor controls, and
others. The factory automation segment is expected to have a significant market
share in the forecast period. By the end-user industry, the market is segmented
into aerospace and defense, communication and technology, HVAC, automotive,
consumer electronics, and others. The consumer electronics segment is expected
to have a significant market share on account of the wide-scale usage of
electromechanical relays in the kitchen and other appliances. Geographically,
Asia Pacific region is expected to have a significant market share of the global
electromechanical relay market share and the market is expected to grow at
a rapid pace owing to the growing demand for consumer electronics in the
emerging economies and government subsidies.
According to competitive intelligence.The electromechanical relay market is fragmented with hundreds of manufacturers.
The players are expanding globally to mirror their customers’ requirements. As
a result, they are increasingly integrating with other players. The key players
include GE, Rockwell Automation, TE Connectivity, Teledyne Relays, and Siemens
among others.
Key Questions
Answered in This Report:
- What
are the key regions having a significant market share?
- What
are the drivers and restraints of the market?
- Who
are the key market players in the market?
- What
is the market segmentation of the electromechanical relay market?
- Who are the end-users of the market?
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