Category

Electromechanical Relay Market Size, Share, Opportunities And Trends By Type (General Purpose Relay, Power Relay, Contactor, Time-Delay Relay, And Others), By Application (Factory Automation, Temperature Controllers, Motor Controls, And Others), By End-User Industry (Aerospace And Defense, Communication And Technology, HVAC, Automotive, Consumer Electronics, And Others), And By Geography - Forecasts From 2019 To 2024

Published: May 2020 | Report Code:  KSI061610558 | Pages:  106

Electromechanical Relay (EMR) market is projected to witness a CAGR of 3.13% during the forecast period to reach a total market size of US$7,161.108 million by 2024, increasing from US$5,952.099 million in 2018. Electromechanical relays are switches that control high power electrical devices by using a small amount of power. It can be operated by both AC and DC current; a magnetic force is generated when the power is supplied controlling the mechanism in the switch. Electromechanical relays provide good performance. It has a long operational life and consumes less power. On and off control, limit control, and logic operations are functions of the electrical relays. These electromechanical relays have several applications such as power supply switching in TVs, DTH boxes, and factory automation, temperature controller in HVAC devices, motor controllers, and others.    

Electromechanical Relay Market, By Application, 2019 to 2025

Globally rising energy prices are driving the demand for advanced electromechanical relays to reduce power consumption. The rising number of renewable energy projects is also fuelling the demand for high capacity electromechanical relays, thus positively impacting the growth of the global EMR market. Increasing demand for electromechanical relays due to its low cost, long operation life, less power consumption, and easy maintenance is augmenting the market growth. Wide usage of electromechanical relays in electronic appliances and increasing use in the automobile sector in the fuse box to prevent the circuits from overload and faults is also fueling the growth of the market. However, the availability of solid-state relays (SSRs) as a substitute due to advancements in semiconductor fabrication and manufacturing technology may hamper the growth of the market.

Electromechanical Relay Market, By Geography, 20125

By, application factory automation segment is expected to have a significant market share in the forecast period. By end-user, the consumer electronics segment is expected to have a significant market share on account of wide-scale usage of electromechanical relays in the kitchen and other appliances. Geographically, Asia Pacific region is expected to grow at a rapid pace owing to the growing demand for consumer electronics in the emerging economies and government subsidies.

Major industry players profiled as part of the report are General Electric Company, Teledyne Relays, Omron Corporation, and Siemens among others.

Segmentation:

  • By Type 
    • General Purpose Relay
    • Power Relay
    • Contactor
    • Time-Delay Relay
    • Others
  • By Application
    • Factory Automation
    • Temperature Controllers
    • Motor Controls
    • Others
  • By End-User Industry
    • Aerospace and Defense
    • Communication and Technology
    • Automotive
    • Consumer Electronics
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the electromechanical relay market size by 2024?
A1. The electromechanical relay market is projected to reach a total market size of US$7,161.108 million in 2024.
 
Q2. What are the growth prospects for electromechanical relay market?
A2. Electromechanical Relay market is projected to witness a CAGR of 3.13% during the forecast period.
 
Q3. How is the electromechanical relay market segmented?
A3. The electromechanical relay market is segmented based on type, application, end-user industry, and geography. 
 
Q4. Which region holds the largest market share in electromechanical relay market?
A4. Asia Pacific region is expected to grow at a rapid pace owing to the growing demand for consumer electronics in the emerging economies and government subsidies.
 
Q5. What factors are anticipated to drive the electromechanical relay market growth?
A5. Globally rising energy prices are driving the demand for advanced electromechanical relays to reduce power consumption.

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