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Allied Market Research

Relays Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Jun 2021 | 104 Views
 
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A relay is a switch comprising a collection of single or multiple control signal input terminals and a set of functioning contact terminals. In multiple forms of contact, the switch can have numerous connections, such as making contacts, breaking contacts, or merging both. Relays are used where the operation of a circuit involves an independent low-power signal or where multiple circuits must be regulated by one signal. The conventional style of a relay utilizes an electromagnet to close or open contacts, but it has developed other working principles, such as solid-state relays that use semiconductor properties without depending on moving parts to regulate the contact. Relays with conventional processing characteristics and multiple operating coils are often used to secure electrical circuits from overload or faults. These operations are implemented by smart devices often called protective relays in modern electrical power systems.

Market scope and structure analysis

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast unit

  Value (USD)

  Segments covered

  Type and Region

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and the Rest of LAMEA)

  Companies covered

ABB Ltd., Broadcom Inc., Eaton Corporation Plc, Fujitsu Ltd., General Electric Co., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and TE Connectivity Ltd.

 

Key drivers of global relays market

Electricity is one of the most commonly used forms of energy. Residential and commercial sectors account for the largest proportion of total electricity consumption. The supply of electricity is therefore increasing along with surge in adoption of distribution feeder protection system, which, in turn, fuels the relay market. The installation of protective relays can help to eliminate the risk of damage of end product. Moreover, the growth of the global market is driven by increase in adoption of protective relays in the automobile manufacturing sector. Most players utilize relays in the  fuse box of cars. These relays are used to prevent overloading and fault in the circuits. 

Market scenario: opportunities and challenges

Increase in demand for solar energy coupled with rise in smart grid establishment and revamping is one of the major factors that fuels the growth of the global relays market. There is a massive scope of relays in an automated power grid that can help control all communication and distribution between the consumer and the supplier. With increasing investment in infrastructure projects across different areas around the world, rise has been witnessed in energy consumption coupled with increase in popularity of energy management smart grid technologies. Of this, purpose relays are sometimes used in parallel networks to minimize the risk of harm due to system damage. Furthermore, due to increase in environmental concerns regarding the depletion of conventional energy sources, the growth of the renewable energy industry is expected to boost the new infrastructural technologies which will fuel the need for defensive relays. However, rise in construction costs cause disruptions for the industry during the forecast era.

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global relays market is expected to witness a slowdown during the next couple of years. This is attributed to the shutdown of factories across all cities and provinces, globally, leading to predictions of a sharp slowdown. In addition, recent decline in the growth of the automotive industry is one of the key factors that is likely to negatively impact the growth the relays market. Thus, companies are dealing with missing sales and disrupted supply chains, as production activities are shutdown.

Key segments covered

Segment

Subsegment

  Type

  • Electromechanical Relays
  • Solid-state Relays
  • Hybrid Relays
  • Reed Relays
  • General-purpose Relays

 

Key benefits of the report

  • This study presents the analytical depiction of the global relays industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global relays market share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global relays market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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