Market Overview:
The global magnetic latching relays market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient and smart devices across the globe. Additionally, the growing demand for circuit testing, intelligent lighting, and other applications is also propelling the growth of this market. On the basis of type, single phase magnetic latching relays held a major share of the global market in 2017. This segment is projected to grow at a CAGR of 5% during the forecast period owing to its high efficiency and low power consumption as compared to three phase magnetic latching relays. On account of their ability to control large loads with low power consumption, three phase magnetic latching relays are expected witness significant growth duringthe forecast period.
Product Definition:
A magnetic latching relay is a type of relay that has a "latch" position in addition to the "on" and "off" positions. When the relay is in its latch position, it will stay on even after power is removed. This can be useful for circuits that need to stay on for long periods of time without needing power to be constantly supplied.
Single Phase:
Single-phase magnetic latching relays are used in applications such as industrial control systems, home appliances, and automated banking machines. The growing demand for automation in the industries is expected to drive market growth over the forecast period.
The single-phase magnetic latching relay has a coil wound around a ferromagnetic core that generates an electromagnetic field when current passes through it; this field causes a remanence magnet to move past the switch contacts.
Three Phase:
The three phase magnetic latching relays are used in power distribution and switching applications. It is a type of electromagnetic relay that uses strong permanent magnets to create an electrical circuit with low resistance. The device has three terminals; normally closed, normally open and open collector. These devices can be used as switches or as components of electric power distribution systems depending on the application requirements.
Application Insights:
Circuit testing was the largest application segment in 2017 and will continue to be so over the forecast period. Magnetic latching relays are used for testing various electrical appliances, consumer electronics, and other devices. The growing demand for magnetic latching relay is driven by their low price coupled with high performance specifications. These devices can also be used as an intelligent lighting solution which requires a high switching speed along with a large number of switches closure within seconds or minutes depending upon requirements.
The circuit testing segment accounted for more than 35% of global magnetic latching relay market revenue in 2017 owing to its increasing use across different industries such as consumer electronics, automotive & transportation etcetera to test if an appliance or device is faulty before it leaves the production line or reaches consumers respectively.
Regional Analysis:
North America is expected to be the key regional market over the forecast period owing to increasing demand for magnetic latching relays from various application sectors in countries, such as U.S., Canada, and Mexico. Moreover, presence of major players in this region is also contributing towards growth of this market. Increasing investments by prominent companies are also expected to drive growth of this regional market over the forecast period.
Asia Pacific is anticipated to witness significant rise in demand for magnetic latching relay during the forecast years due to rising infrastructure activities and growing adoption from industrial sector including manufacturing industry and others across emerging economies such as China, India, Indonesia among others will drive overall growth during the projected period. Furthermore; rapid development witnessed across several Asian countries has been attracting foreign investments which have resulted into high availability of advanced products at competitive prices thereby driving product adoption across industries leading toward higher revenue generation by 2025 for Asia Pacific Magnetic Latching Relay Market (excluding Japan).
Growth Factors:
- Increasing demand for miniaturization in electrical and electronic equipment
- Growing popularity of smart homes and the Internet of Things (IoT)
- Proliferation of data centers and the need for energy-efficient power management solutions
- Rising demand from automotive applications
- Growing trend toward green technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Magnetic Latching Relays Market Research Report
By Type
Single Phase, Three Phase
By Application
Circuit Testing, Intelligent Lighting, Others
By Companies
Rockwell Automation, Legrand, IDEC Corporation, SANYOU Relays, NCR, KURA Electronics, Littelfuse, Deltrol Controls, Golden Relays, Great Relay
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
195
Number of Tables & Figures
137
Customization Available
Yes, the report can be customized as per your need.
Global Magnetic Latching Relays Market Report Segments:
The global Magnetic Latching Relays market is segmented on the basis of:
Types
Single Phase, Three Phase
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Circuit Testing, Intelligent Lighting, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Rockwell Automation
- Legrand
- IDEC Corporation
- SANYOU Relays
- NCR
- KURA Electronics
- Littelfuse
- Deltrol Controls
- Golden Relays
- Great Relay
Highlights of The Magnetic Latching Relays Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Phase
- Three Phase
- By Application:
- Circuit Testing
- Intelligent Lighting
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Magnetic Latching Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Magnetic Latching Relays are a type of electrical relay that uses the principles of magnetism to control the flow of electricity. When an electric current flows through a coil in the relay, it creates a magnetic field around it. This field can be used to open and close switches or contacts, which in turn allows electricity to flow through them.
Some of the key players operating in the magnetic latching relays market are Rockwell Automation, Legrand, IDEC Corporation, SANYOU Relays, NCR, KURA Electronics, Littelfuse, Deltrol Controls, Golden Relays, Great Relay.
The magnetic latching relays market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Magnetic Latching Relays Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Magnetic Latching Relays Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Magnetic Latching Relays Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Magnetic Latching Relays Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Magnetic Latching Relays Market Size & Forecast, 2020-2028
4.5.1 Magnetic Latching Relays Market Size and Y-o-Y Growth
4.5.2 Magnetic Latching Relays Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Single Phase
5.2.2 Three Phase
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Circuit Testing
6.2.2 Intelligent Lighting
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Magnetic Latching Relays Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Magnetic Latching Relays Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Single Phase
9.6.2 Three Phase
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Circuit Testing
9.10.2 Intelligent Lighting
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Single Phase
10.6.2 Three Phase
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Circuit Testing
10.10.2 Intelligent Lighting
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Single Phase
11.6.2 Three Phase
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Circuit Testing
11.10.2 Intelligent Lighting
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Single Phase
12.6.2 Three Phase
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Circuit Testing
12.10.2 Intelligent Lighting
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Single Phase
13.6.2 Three Phase
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Circuit Testing
13.10.2 Intelligent Lighting
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Magnetic Latching Relays Market: Competitive Dashboard
14.2 Global Magnetic Latching Relays Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Rockwell Automation
14.3.2 Legrand
14.3.3 IDEC Corporation
14.3.4 SANYOU Relays
14.3.5 NCR
14.3.6 KURA Electronics
14.3.7 Littelfuse
14.3.8 Deltrol Controls
14.3.9 Golden Relays
14.3.10 Great Relay
