Market Overview:
The global low voltage 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 low voltage relays in various applications, such as automatic control circuit, voltage protection device, and others. Additionally, the growing demand for energy-efficient products is also contributing to the growth of this market. Based on type, the global low voltage relay market is segmented into electromagnetic voltage relay and static voltage relay. The electromagnetic voltage relay segment is expected to hold a major share of the global low voltage relay market during the forecast period owing to its high efficiency and reliability. Based on application, the global low Voltage Relay Market is segmented into automatic control circuit,voltage protection device,,and other applications .
Product Definition:
A low voltage relay is a device used to switch electrical power on and off at low voltages, typically below 50 volts. Low voltage relays are often used in industrial control systems and home automation systems.
Electromagnetic Voltage Relay:
Electromagnetic voltage relay is a device used to control and monitor electric processes occurring in power circuits. These relays are available in different forms such as magnetic, electro-optical, semiconductor or mechanical. The electromagnetic voltage relays are gaining popularity over the traditional ones owing to their compact size and ability to work at low frequencies.
The global Low Voltage Relay (LVR) market was valued at USD 4.5 billion in 2015.
Static Voltage Relay:
The static voltage relay is a switching device that can handle high power. It has two terminals and three leads: normally-closed contact, normally-open contact, and heat sink. The device works on the principle of electric field strength around the contacts determines whether they will close or open.
The normal state of affairs when no current is flowing through them; the stronger the electric field around both sets of contacts, then chances are high that they will close.
Application Insights:
Application of the global low voltage relay is classified into automatic control circuit, voltage protection device, and other applications. The other application segment includes power distribution and industrial use. Thevoltage protection device segment held the largest market share in 2017 due to increasing demand for relays with higher ratings for protecting equipment from electrical overloading.
Theautomatic control circuit segment is expected to grow at a significant rate over the forecast period owing to its extensive usage in various industries such as oil & gas, chemical, petrochemical and power generation among others. These are used as switches or sensors in process automation systems that monitor physical parameters such as temperature or pressure within a machine room environment thereby enabling real-time data transmission via an Industrial Control System (ICS). Such factors are anticipated to boost product demand globally during the forecast period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market with a CAGR of XX% from 2018 to 2030 owing to increasing demand for automatic control and protection devices in various applications including manufacturing, transportation, and communication. The presence of key manufacturers in countries such as China and Japan has led to an increase in the production of relay products over the past few years. Moreover, rising investments by governments across various Asia Pacific economies are anticipated to fuel industry growth over the next eight years.
Growth Factors:
- Increasing demand for energy-efficient systems in commercial and industrial sectors
- Rising investment in smart grid infrastructure
- Proliferation of microgrids and distributed generation systems
- Growing popularity of renewable energy sources
- Advances in relay technology
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Voltage Relay Market Research Report
By Type
Electromagnetic Voltage Relay, Static Voltage Relay
By Application
Automatic Control Circuit, Voltage Protection Device, Other
By Companies
Honeywell, Dimplex, Schneider Electric, Functional Device, White Rodgers, Legrand, Viking Electric, ABB, Rockwell, Eaton
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
231
Number of Tables & Figures
162
Customization Available
Yes, the report can be customized as per your need.
Global Low Voltage Relay Market Report Segments:
The global Low Voltage Relay market is segmented on the basis of:
Types
Electromagnetic Voltage Relay, Static Voltage Relay
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
Automatic Control Circuit, Voltage Protection Device, 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:
- Honeywell
- Dimplex
- Schneider Electric
- Functional Device
- White Rodgers
- Legrand
- Viking Electric
- ABB
- Rockwell
- Eaton
Highlights of The Low Voltage 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:
- Electromagnetic Voltage Relay
- Static Voltage Relay
- By Application:
- Automatic Control Circuit
- Voltage Protection Device
- 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 Low Voltage 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?
A low voltage relay is a type of relay that operates at a lower voltage than standard relays. This allows it to be used in applications where the normal operating voltage of a relay is too high, or where the required current capacity is too low for a standard relay.
Some of the major companies in the low voltage relay market are Honeywell, Dimplex, Schneider Electric, Functional Device, White Rodgers, Legrand, Viking Electric, ABB, Rockwell, Eaton.
The low voltage relay market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Low Voltage Relay Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Low Voltage Relay Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Low Voltage Relay Market - Supply Chain
4.5. Global Low Voltage Relay Market Forecast
4.5.1. Low Voltage Relay Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Low Voltage Relay Market Size (000 Units) and Y-o-Y Growth
4.5.3. Low Voltage Relay Market Absolute $ Opportunity
5. Global Low Voltage Relay Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Low Voltage Relay Market Size and Volume Forecast by Type
5.3.1. Electromagnetic Voltage Relay
5.3.2. Static Voltage Relay
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Low Voltage Relay Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Low Voltage Relay Market Size and Volume Forecast by Application
6.3.1. Automatic Control Circuit
6.3.2. Voltage Protection Device
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Low Voltage Relay Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Low Voltage Relay Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Low Voltage Relay Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Low Voltage Relay Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Low Voltage Relay Demand Share Forecast, 2019-2029
9. North America Low Voltage Relay Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Low Voltage Relay Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Low Voltage Relay Market Size and Volume Forecast by Application
9.4.1. Automatic Control Circuit
9.4.2. Voltage Protection Device
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Low Voltage Relay Market Size and Volume Forecast by Type
9.7.1. Electromagnetic Voltage Relay
9.7.2. Static Voltage Relay
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Low Voltage Relay Demand Share Forecast, 2019-2029
10. Latin America Low Voltage Relay Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Low Voltage Relay Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Low Voltage Relay Market Size and Volume Forecast by Application
10.4.1. Automatic Control Circuit
10.4.2. Voltage Protection Device
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Low Voltage Relay Market Size and Volume Forecast by Type
10.7.1. Electromagnetic Voltage Relay
10.7.2. Static Voltage Relay
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Low Voltage Relay Demand Share Forecast, 2019-2029
11. Europe Low Voltage Relay Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Low Voltage Relay Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Low Voltage Relay Market Size and Volume Forecast by Application
11.4.1. Automatic Control Circuit
11.4.2. Voltage Protection Device
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Low Voltage Relay Market Size and Volume Forecast by Type
11.7.1. Electromagnetic Voltage Relay
11.7.2. Static Voltage Relay
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Low Voltage Relay Demand Share, 2019-2029
12. Asia Pacific Low Voltage Relay Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Low Voltage Relay Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Low Voltage Relay Market Size and Volume Forecast by Application
12.4.1. Automatic Control Circuit
12.4.2. Voltage Protection Device
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Low Voltage Relay Market Size and Volume Forecast by Type
12.7.1. Electromagnetic Voltage Relay
12.7.2. Static Voltage Relay
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Low Voltage Relay Demand Share, 2019-2029
13. Middle East & Africa Low Voltage Relay Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Low Voltage Relay Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Low Voltage Relay Market Size and Volume Forecast by Application
13.4.1. Automatic Control Circuit
13.4.2. Voltage Protection Device
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Low Voltage Relay Market Size and Volume Forecast by Type
13.7.1. Electromagnetic Voltage Relay
13.7.2. Static Voltage Relay
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Low Voltage Relay Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Low Voltage Relay Market: Market Share Analysis
14.2. Low Voltage Relay Distributors and Customers
14.3. Low Voltage Relay Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Honeywell
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Dimplex
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Schneider Electric
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Functional Device
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. White Rodgers
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Legrand
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Viking Electric
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ABB
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Rockwell
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Eaton
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
