Industrial Relays Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43765
Technavio

Purchase this report now and if we publish a new version within 90 days, we will send you a free copy.

Safe and Secure SSL Encrypted
  • 2500.00
  • USD

The industrial relays market has the potential to grow by USD 1.14 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.87%.

This industrial relays market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (electromechanical relays, solid-state relays, hybrid relays, reed relays, and general-purpose relays), end-user (process industries and discrete industries), and geography (APAC, North America, Europe, South America, and MEA). The industrial relays market report also offers information on several market vendors, including ABB Ltd., Broadcom Inc., Coto Technology Inc., FURUKAWA Co. Ltd., General Electric Co., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and TE Connectivity Ltd. among others.

What will the Industrial Relays Market Size be in 2021?

Browse TOC and LoE with selected illustrations and example pages of Industrial Relays Market

 Get Your FREE Sample Now!

Industrial Relays Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increasing adoption of PLCs in industries is notably driving the industrial relays market growth, although factors such as shortcomings of industrial relays may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial relays industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the industrial relays market is the increasing adoption of PLCs in industries.
  • With PLCs, the control panels can be updated to overcome the drawbacks of traditional relay logic systems, such as dependability, flexibility, and diagnostics.
  • The need to automate the controls in industries will lead to growth in the market for PLCs.
  • The adoption of relays in the process and discrete industries, with the inclusion of PLCs, is expected to increase the volume sales for the vendors of the global industrial relays market
  • The increasing number of solar projects globally is another factor supporting the industrial relays market share growth.
  • The rising need for eco-friendly and green energy cause an increase in demand for relays, which, in turn, will feature tremendous growth in the global market.
  • The lowering cost of solar technologies has led to their higher implementation globally.
  • The increase in awareness of carbon emission, the minimal setup costs, and the decreasing price of components are reasons for the growth of solar projects, which will increase the adoption rate of industrial relays in high-temperature conditions.

This industrial relays market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Industrial Relays Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Broadcom Inc.
  • Coto Technology Inc.
  • FURUKAWA Co. Ltd.
  • General Electric Co.
  • OMRON Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • TE Connectivity Ltd.

 

This statistical study of the industrial relays market encompasses successful business strategies deployed by the key vendors. The industrial relays market is fragmented and the vendors are deploying growth strategies such as investing in research and development, market penetration, and product innovation to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial relays market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Industrial Relays Market?

For more insights on the market share of various regions Request for a FREE sample now!

53% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for industrial relays market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing demand for electricity, fueled by higher urbanization in countries such as China and India, will facilitate the industrial relays market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Industrial Relays Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The industrial relays market share growth by the electromechanical relays segment will be significant during the forecast period. Electromechanical relays support an extensive range of signal characteristics, from low voltage/current to high voltage/current and from DC to GHz frequencies. Thus, an electromechanical relay with signal characteristics that match given system requirements can always be found. The electromechanical relays have a higher market share in the global industrial relays market. The wide use of electromechanical relays in industries is expected to drive product demand in the market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial relays market size and actionable market insights on post COVID-19 impact on each segment.

 

Event-Tickets-Market-Report

Request for a FREE sample

What are the Key Factors Covered in this Industrial Relays Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial relays market growth during the next five years
  • Precise estimation of the industrial relays market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial relays industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial relays market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Industrial Relays Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.87%

Market growth 2021-2025

$ 1.14 billion

Market structure

Fragmented

YoY growth (%)

4.77

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 53%

Key consumer countries

China, US, Germany, India, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Broadcom Inc., Coto Technology Inc., FURUKAWA Co. Ltd., General Electric Co., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and TE Connectivity Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Read More Read Less

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
Interested in this report?
Get your FREE sample now!
The industrial relays market growth will increase by $778.95 million during 2019-2024.
The industrial relays market is expected to grow at a CAGR of 5.23% during 2019-2024.
Technavio has segmented the industrial relays market by product (Electromechanical relays, Solid-state relays, Hybrid relays, Reed relays, and General-purpose relays) and geographic (APAC, North America, Europe, MEA, and South America).
ABB Ltd., Broadcom Inc., Eaton Corporation Plc, Fujitsu Ltd., General Electric Co., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, TE Connectivity Ltd. are a few of the key vendors in the industrial relays market.
APAC will register the highest growth rate of 55.26% among the other regions. Therefore, the industrial relays market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the industrial relays market growth are:
  • Increasing importance of smart grid systems
  • Lack of worker education in and knowledge of recent advances in relays
The industrial relays market vendors should focus on grabbing business opportunities from the electromechanical relays segment as it accounted for the largest market share in the base year.
Safe and Secure SSL Encrypted
Technavio

Single User:

2500 USD

Technavio Get the report (PDF) sent to your email within minutes.

Subscribe & Save

Get lifetime access to our
Technavio Insights

Want to customize this report?

This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

We offer $1000 worth of FREE customization at the time of purchase
Technavio
Enquire Before Buying
  1. Home
  2. Industrials
  3. Published Report
17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>