Market Overview:
The global micro relay 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 miniaturized and energy-efficient relays across different applications. Additionally, the growing adoption of micro relays in automobiles is also contributing to the growth of this market. Based on type, thermal relays are expected to account for the largest share of the global micro relay market in 2018. This can be attributed to their high reliability and long life span as compared with other types of relays.
Product Definition:
A micro relay is a small, low-power switch that is used to control electrical circuits. They are often used to control lights or motors in small appliances. Micro relays are important because they allow devices to be controlled remotely, which can save energy and improve safety.
Thermal Relay:
Thermal relay is a device used to transfer heat energy from one place to another. It’s major application is in micro relays which are used for heating and cooling purposes. Microrelay market has been growing at a significant rate owing to its increasing demand across various end-use industries such as automotive, building automation, medical equipment industry etc.
The global thermal relay market size was valued at USD 1.6 billion in 2016.
Time Relay:
Time relay is a service that enables banks to set up a transaction time-out mechanism. It helps in preventing double spends, and it's used by the banks for fast transaction settlement. Microrelay is an implementation of time relay technology developed by SpesTechno Ltd., which allows financial institutions to make cross-border payments at lower costs and with better flexibility than traditional systems.
Application Insights:
The industry segment accounted for the largest revenue share in 2016 and is projected to continue its dominance over the forecast period. The industry application includes oil & gas, power generation, manufacturing, etc. Communication is one of the significant applications of micro relays as they are used in wireless communication devices such as mobile phones and laptops among others.
Industry application was followed by automobile which accounted for a considerable market share in 2016 owing to increasing demand from end-user industries such as automotive and consumer electronics among others.
Regional Analysis:
Asia Pacific regional market accounted for the largest revenue share in 2017 and is anticipated to continue its dominance over the forecast period. The growth of this region can be attributed to increasing industrialization, rising number of industries, rapid urbanization, and expanding communication network. Moreover, China has become a major manufacturing hub owing to low labor cost as compared to other countries in Asia Pacific. This factor is expected to drive industry expansion in China over the next eight years.
North America micro relay market was valued at USD X million in 2017.
Growth Factors:
- Increasing demand for miniaturization in electronic devices
- Growing popularity of IoT and connected devices
- Proliferation of smart homes and buildings
- Rising demand for energy-efficient systems
- Emerging applications in automotive, healthcare, and other industries
Scope Of The Report
Report Attributes
Report Details
Report Title
Micro Relay Market Research Report
By Type
Thermal Relay, Time Relay, Other
By Application
Communication, Industry, Automobile, Other
By Companies
Phoenix Contact, Siemens, OMRON, Schneider Electric, ABB, HONFA, Panasonic, IDEC, MINGDA, CHNT
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
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Micro Relay Market Report Segments:
The global Micro Relay market is segmented on the basis of:
Types
Thermal Relay, Time Relay, Other
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
Communication, Industry, Automobile, Other
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:
- Phoenix Contact
- Siemens
- OMRON
- Schneider Electric
- ABB
- HONFA
- Panasonic
- IDEC
- MINGDA
- CHNT
Highlights of The Micro Relay 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:
- Thermal Relay
- Time Relay
- Other
- By Application:
- Communication
- Industry
- Automobile
- Other
- 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 Micro Relay 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?
Micro Relay is a relay that operates on a very small scale, typically less than 1 watt. These relays are often used in microcontroller applications and other low-power applications where space or power limitations prohibit the use of larger relays.
Some of the major companies in the micro relay market are Phoenix Contact, Siemens, OMRON, Schneider Electric, ABB, HONFA, Panasonic, IDEC, MINGDA, CHNT.
The micro relay market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Micro Relay 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 Micro Relay Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Micro Relay 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 Micro Relay 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 Micro Relay Market Size & Forecast, 2018-2028
4.5.1 Micro Relay Market Size and Y-o-Y Growth
4.5.2 Micro Relay Market Absolute $ Opportunity
Chapter 5 Global Micro Relay 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 Micro Relay Market Size Forecast by Type
5.2.1 Thermal Relay
5.2.2 Time Relay
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Micro Relay 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 Micro Relay Market Size Forecast by Applications
6.2.1 Communication
6.2.2 Industry
6.2.3 Automobile
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Micro Relay 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 Micro Relay 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 Micro Relay Analysis and Forecast
9.1 Introduction
9.2 North America Micro Relay 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 Micro Relay Market Size Forecast by Type
9.6.1 Thermal Relay
9.6.2 Time Relay
9.6.3 Other
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 Micro Relay Market Size Forecast by Applications
9.10.1 Communication
9.10.2 Industry
9.10.3 Automobile
9.10.4 Other
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 Micro Relay Analysis and Forecast
10.1 Introduction
10.2 Europe Micro Relay 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 Micro Relay Market Size Forecast by Type
10.6.1 Thermal Relay
10.6.2 Time Relay
10.6.3 Other
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 Micro Relay Market Size Forecast by Applications
10.10.1 Communication
10.10.2 Industry
10.10.3 Automobile
10.10.4 Other
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 Micro Relay Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Micro Relay 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 Micro Relay Market Size Forecast by Type
11.6.1 Thermal Relay
11.6.2 Time Relay
11.6.3 Other
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 Micro Relay Market Size Forecast by Applications
11.10.1 Communication
11.10.2 Industry
11.10.3 Automobile
11.10.4 Other
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 Micro Relay Analysis and Forecast
12.1 Introduction
12.2 Latin America Micro Relay 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 Micro Relay Market Size Forecast by Type
12.6.1 Thermal Relay
12.6.2 Time Relay
12.6.3 Other
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 Micro Relay Market Size Forecast by Applications
12.10.1 Communication
12.10.2 Industry
12.10.3 Automobile
12.10.4 Other
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) Micro Relay Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Micro Relay 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) Micro Relay Market Size Forecast by Type
13.6.1 Thermal Relay
13.6.2 Time Relay
13.6.3 Other
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) Micro Relay Market Size Forecast by Applications
13.10.1 Communication
13.10.2 Industry
13.10.3 Automobile
13.10.4 Other
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 Micro Relay Market: Competitive Dashboard
14.2 Global Micro Relay Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Phoenix Contact
14.3.2 Siemens
14.3.3 OMRON
14.3.4 Schneider Electric
14.3.5 ABB
14.3.6 HONFA
14.3.7 Panasonic
14.3.8 IDEC
14.3.9 MINGDA
14.3.10 CHNT
