Electromechanical Relay Market: Asia Pacific to Witness Rapid Growth
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.
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?