Relays Market Report 2023

Relays Global Market Report 2023 – By Type (Latching Relay, Solid State Relay, Automotive Relay, Overload Protection Relay, Electromechanical Relay, Other Types), By Application (Military, Industrial Automation, Electronics, Others Applications), By Voltage (Low, Medium, High), By End User (Utilities, Industrial, Railways, Others (Airports, Hospitals, Commerical Complexs and Data Centers)) – Market Size, Trends, And Global Forecast 2023-2032

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Relays are electric switches that use electromagnetism to convert small electrical stimuli into larger currents. Relays make and break circuit contact with the help of a signal without any human involvement to switch it ON or OFF.

The main types of relays are latching relay, solid-state relay, automotive relay, overload protection relay, electromechanical relay, and others. A latching relay refers to a relay that retains its contact position after the control power has been removed. Latching relays enable a customer to control a circuit with a single pulse to the relay control circuit. Relays are operated at various voltages, including low, medium, and high. The relays are used for military, industrial automation, electronics, and other applications by utilities, industrial, railways, and other end-users.

The relays market research report is one of a series of new reports from The Business Research Company that provides relays market statistics, including relays industry global market size, regional shares, competitors with a relays market share, detailed relays market segments, market trends, and opportunities, and any further data you may need to thrive in the relays industry. This relays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global relays market size will grow from $6.55 billion in 2022 to $6.83 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global relays market size is expected to grow to $8.76 billion in 2027 at a CAGR of 6.4%.

Increasing investments in solar energy projects globally are expected to drive the relays market in the forecast period. Relays are used in solar energy projects to cut off high DC voltages. For instance, in September 2021, according to the U.S Department of Agriculture, US-based federal executive department responsible for farming, forestry, and rural economic development, announced the investment of $ 464 million to build and improve renewable energy infrastructure to assist businesses, agricultural producers, and rural communities in the lower 48 states and Puerto Rico in lowering their energy expenses. With an increasing demand for solar energy projects, relay manufacturers are now offering relays compatible with solar energy systems. For instance, Fujitsu is offering relays designed especially for solar applications.

High power consumption by relays and the presence of alternatives such as optocouplers (opt-isolators) are acting as a restraint on the relays market. Relays are used to turn on or turn off a circuit electronically or electromechanically. Relays pose a problem in cases where power consumption needs to be kept minimum. For instance, to switch on a small LED light, the power consumed by the relay could be more than the power consumed by the light. Also, PV solar systems may require larger solar panels and batteries to compensate for the excess power consumption by relays. This increases costs and limits the usage of relays in such applications.

Plug-in relays are increasingly being used in the automotive sector due to their light weight compared to electromechanical relays. These relays can handle high-rated current and operating voltage similar to that of electromechanical type relays. Plug-in relays are being used in automobile applications such as electrically heated catalytic converters, heater controls, windscreen wipers, motors and pumps, and body electronics, such as door locks, seat controls, window lifters, and others. For instance, Omron’s plug-in automotive relays that range from 20A to 70A are used in automotive applications such as arter motors, heater controls, windscreen wipers, and any applications that require high continuous current switching.

In May 2021, Standex Electronics, US-based company operating in electronics component manufacturer acquired American Relays, Inc. for an undisclosed amount. Through this acquisition, Standex Electronics aims to strengthen its position in the North American relay market. American Relays, Inc. is an US-based company in manufacturing of reed switch-based relays.

Major players in the relays market are Omron, Crydom Corp., Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne, Hongfa, and Ningbo Forward.

Asia-Pacific was the largest region in the relays market in 2022. North America was the second-largest region in the global relays market. The regions covered in the global relays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the relays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The relays market consists of sales of latching relays, solid state relays, automotive relays, overload protection relays, electromechanical relays, and other relays. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The global relays market is segmented -

1) By Type: Latching Relay, Solid State Relay, Automotive Relay, Overload Protection Relay, Electromechanical Relay, Other Types

2) By Application: Military, Industrial Automation, Electronics, Others Applications

3) By Voltage: Low, Medium, High

4) By End-User: Utilities, Industrial, Railways, Others (Airports, Hospitals, Commerical Complexs and Data Centers)

    Table Of Contents

    1. Executive Summary

    2. Relays Market Characteristics

    3. Relays Market Trends And Strategies

    4. Relays Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Relays Market

    4.2 Ukraine-Russia War Impact On Relays Market

    4.3 Impact Of High Inflation On Relays Market

    5. Relays Market Size And Growth

    5.1. Global Relays Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Relays Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Relays Market Segmentation

    6.1. Global Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Latching Relay

    Solid State Relay

    Automotive Relay

    Overload Protection Relay

    Electromechanical Relay

    Other Types

    6.2. Global Relays Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Military

    Industrial Automation

    Electronics

    Other Applications

    6.3. Global Relays Market, Segmentation By Voltage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Low

    Medium

    High

    6.4. Global Relays Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Utilities

    Industrial

    Railways

    Others (Airports, Hospitals, Commerical Complexs and Data Centers)

    7. Relays Market Regional And Country Analysis

    7.1. Global Relays Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Relays Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Relays Market

    8.1. Asia-Pacific Relays Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Relays Market

    9.1. China Relays Market Overview

    9.2. China Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Relays Market

    10.1. India Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Relays Market

    11.1. Japan Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Relays Market

    12.1. Australia Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Relays Market

    13.1. Indonesia Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Relays Market

    14.1. South Korea Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Relays Market

    15.1. Western Europe Relays Market Overview

    15.2. Western Europe Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Relays Market

    16.1. UK Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Relays Market

    17.1. Germany Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Relays Market

    18.3. France Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Relays Market

    19.1. Eastern Europe Relays Market Overview

    19.2. Eastern Europe Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Relays Market

    20.1. Russia Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Relays Market

    21.1. North America Relays Market Overview

    21.2. North America Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Relays Market

    22.1. USA Relays Market Overview

    22.2. USA Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Relays Market

    23.1. South America Relays Market Overview

    23.2. South America Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Relays Market

    24.1. Brazil Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Relays Market

    25.1. Middle East Relays Market Overview

    25.2. Middle East Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Relays Market

    26.1. Africa Relays Market Overview

    26.2. Africa Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Relays Market Competitive Landscape And Company Profiles

    27.1. Relays Market Competitive Landscape

    27.2. Relays Market Company Profiles

    27.2.1. Omron

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Crydom Corp

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Comus International

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Eaton

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. TE Connectivity

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Relays Market

    29. Relays Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Relays Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Relays Market, Segmentation By Voltage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Relays Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Relays Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Global Relays Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: Asia-Pacific, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: China, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: India, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Japan, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Australia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: Indonesia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: South Korea, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: Western Europe, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: UK, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: Germany, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: France, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Eastern Europe, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: Russia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: North America, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: USA, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: South America, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Brazil, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Middle East, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Africa, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 28: Omron Financial Performance
  • Table 29: Crydom Corp Financial Performance
  • Table 30: Comus International Financial Performance
  • Table 31: Eaton Financial Performance
  • Table 32: TE Connectivity Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Relays Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Relays Market, Segmentation By Voltage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Relays Market, Segmentation By End-User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Relays Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Global Relays Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: Asia-Pacific, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: China, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: India, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Japan, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Australia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: Indonesia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: South Korea, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: Western Europe, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: UK, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: Germany, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: France, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Eastern Europe, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: Russia, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: North America, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: USA, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: South America, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Brazil, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Middle East, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Africa, Relays Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 28: Omron Financial Performance
  • Figure 29: Crydom Corp Financial Performance
  • Figure 30: Comus International Financial Performance
  • Figure 31: Eaton Financial Performance
  • Figure 32: TE Connectivity Financial Performance
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