Market Overview:
The global power 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 power relays in communication, automotive, aerospace & avionics, and power industry applications. Additionally, the growing demand for miniaturized and low-power relays is also contributing to the growth of the market. However, factors such as high installation and maintenance costs may restrain the growth of this market during the forecast period. Based on type, micro power relays are expected to witness highest growth during 2018-2030 owing to their small size and low cost as compared with other types of power relays.
Product Definition:
A power relay is an electrically operated switch that allows a low-power circuit to control a high-power circuit. The relay consists of an electromagnet that creates a magnetic field when current flows through it, and a set of contacts that open and close based on the presence or absence of the magnetic field.
Micro Power Relays:
Micro power relays are miniature electronic components that act as switches and can be used in applications where a small number of connections is required. They are available in different forms such as diodes, transistors, triacs and zeners. These devices find their application across several end-use industries including automotive, telecom & ITES among others.
Low Power Relays:
Low power relays are electronic devices used to switch on/off electrical equipment. They have applications in various sectors such as manufacturing, healthcare, telecom & IT and oil & gas industries. The global low power relay market size was valued at USD 1.6 billion in 2015 and is expected to grow at a CAGR of XX% from 2016 to 2024.
Application Insights:
The communication segment dominated the global power relays market in 2017 and is expected to witness significant growth over the forecast period. The increasing use of power relay for data transmission and storage across communication networks is anticipated to drive demand over the coming years.
Power industry application segment accounted for a share of 24.1% in terms of revenue in 2017 owing to growing demand from various end-use industries such as oil & gas, energy, petrochemicals, industrial manufacturing etc., which require large amount of electricity on a daily basis. Power industry requires constant monitoring and controlling during generation or load transfer process which results into increased usage of power relays across different parts within an electrical grid networked together by utility companies worldwide.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for power relays from emerging economies, such as China and India. In addition, rising investments in industrialization and urbanization are anticipated to fuel product demand in APAC region.
The Asia Pacific held a significant share of global revenue owing to its large manufacturing sector that includes automotive, electronics, textile machinery and others. Moreover, rapid infrastructure development coupled with growing need for energy storage solutions is further expected to drive industry expansion over the next eight years.
Europe accounted for a major market share due to high penetration of automation across various industries including oil & gas exploration & production; mining; food processing & packaging; transportation; healthcare among others’ which resulted into increased requirement of medium power relays across this region during 2017-2018 period (varying by country).
Growth Factors:
- Increasing demand for power relays from the automotive industry on account of the increasing demand for electric and hybrid vehicles.
- Growing demand for power relays from the industrial sector owing to the increasing adoption of automation in factories and plants.
- Rising investments in renewable energy projects, which is expected to lead to an increase in demand for power relays over the forecast period.
- Growing popularity of smart grids, which is anticipated to boost growth prospects for the global power relay market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Power Relays Market Research Report
By Type
Micro Power Relays, Low Power Relays, Medium Power Relays, High Power Relays
By Application
Communication, Automotive, Aerospace & Avionics, Power Industry, Electronics, Others
By Companies
Omron, Schneider Electric, Rockwell Automation, Panasonic, Fujitsu, HONGFA, Hengstler, TE Connectivity, Teledyne Relays, Xinling Electric, Crouzet, Honeywell, CHINT, NTE Electronics, Phoenix Contact, Siemens, Weidmuller
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
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Power Relays Market Report Segments:
The global Power Relays market is segmented on the basis of:
Types
Micro Power Relays, Low Power Relays, Medium Power Relays, High Power Relays
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, Automotive, Aerospace & Avionics, Power Industry, Electronics, 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:
- Omron
- Schneider Electric
- Rockwell Automation
- Panasonic
- Fujitsu
- HONGFA
- Hengstler
- TE Connectivity
- Teledyne Relays
- Xinling Electric
- Crouzet
- Honeywell
- CHINT
- NTE Electronics
- Phoenix Contact
- Siemens
- Weidmuller
Highlights of The Power 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:
- Micro Power Relays
- Low Power Relays
- Medium Power Relays
- High Power Relays
- By Application:
- Communication
- Automotive
- Aerospace & Avionics
- Power Industry
- Electronics
- 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 Power 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
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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?
A power relay is a device that helps to control the flow of electricity in an electrical system. Power relays are typically used to switch large amounts of power between different parts of an electrical system, or between different circuits within a single system.
Some of the major players in the power relays market are Omron, Schneider Electric, Rockwell Automation, Panasonic, Fujitsu, HONGFA, Hengstler, TE Connectivity, Teledyne Relays, Xinling Electric, Crouzet, Honeywell, CHINT, NTE Electronics, Phoenix Contact, Siemens, Weidmuller.
The power 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 Power 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 Power Relays Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Power 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 Power 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 Power Relays Market Size & Forecast, 2018-2028
4.5.1 Power Relays Market Size and Y-o-Y Growth
4.5.2 Power Relays Market Absolute $ Opportunity
Chapter 5 Global Power Relays 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 Power Relays Market Size Forecast by Type
5.2.1 Micro Power Relays
5.2.2 Low Power Relays
5.2.3 Medium Power Relays
5.2.4 High Power Relays
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Power Relays 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 Power Relays Market Size Forecast by Applications
6.2.1 Communication
6.2.2 Automotive
6.2.3 Aerospace & Avionics
6.2.4 Power Industry
6.2.5 Electronics
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Power 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 Power 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 Power Relays Analysis and Forecast
9.1 Introduction
9.2 North America Power Relays 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 Power Relays Market Size Forecast by Type
9.6.1 Micro Power Relays
9.6.2 Low Power Relays
9.6.3 Medium Power Relays
9.6.4 High Power Relays
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 Power Relays Market Size Forecast by Applications
9.10.1 Communication
9.10.2 Automotive
9.10.3 Aerospace & Avionics
9.10.4 Power Industry
9.10.5 Electronics
9.10.6 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 Power Relays Analysis and Forecast
10.1 Introduction
10.2 Europe Power Relays 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 Power Relays Market Size Forecast by Type
10.6.1 Micro Power Relays
10.6.2 Low Power Relays
10.6.3 Medium Power Relays
10.6.4 High Power Relays
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 Power Relays Market Size Forecast by Applications
10.10.1 Communication
10.10.2 Automotive
10.10.3 Aerospace & Avionics
10.10.4 Power Industry
10.10.5 Electronics
10.10.6 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 Power Relays Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Power Relays 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 Power Relays Market Size Forecast by Type
11.6.1 Micro Power Relays
11.6.2 Low Power Relays
11.6.3 Medium Power Relays
11.6.4 High Power Relays
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 Power Relays Market Size Forecast by Applications
11.10.1 Communication
11.10.2 Automotive
11.10.3 Aerospace & Avionics
11.10.4 Power Industry
11.10.5 Electronics
11.10.6 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 Power Relays Analysis and Forecast
12.1 Introduction
12.2 Latin America Power Relays 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 Power Relays Market Size Forecast by Type
12.6.1 Micro Power Relays
12.6.2 Low Power Relays
12.6.3 Medium Power Relays
12.6.4 High Power Relays
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 Power Relays Market Size Forecast by Applications
12.10.1 Communication
12.10.2 Automotive
12.10.3 Aerospace & Avionics
12.10.4 Power Industry
12.10.5 Electronics
12.10.6 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) Power Relays Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Power Relays 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) Power Relays Market Size Forecast by Type
13.6.1 Micro Power Relays
13.6.2 Low Power Relays
13.6.3 Medium Power Relays
13.6.4 High Power Relays
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) Power Relays Market Size Forecast by Applications
13.10.1 Communication
13.10.2 Automotive
13.10.3 Aerospace & Avionics
13.10.4 Power Industry
13.10.5 Electronics
13.10.6 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 Power Relays Market: Competitive Dashboard
14.2 Global Power Relays Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Omron
14.3.2 Schneider Electric
14.3.3 Rockwell Automation
14.3.4 Panasonic
14.3.5 Fujitsu
14.3.6 HONGFA
14.3.7 Hengstler
14.3.8 TE Connectivity
14.3.9 Teledyne Relays
14.3.10 Xinling Electric
14.3.11 Crouzet
14.3.12 Honeywell
14.3.13 CHINT
14.3.14 NTE Electronics
14.3.15 Phoenix Contact
14.3.16 Siemens
14.3.17 Weidmuller
