Global Electromechnical Relay Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027 at a CAGR of XX % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Electromechanical Relay Market Dynamics:
Increasing awareness about benefits offered by electromechanical relays, cost-effective and easy maintenance, and wide range of applications are major factors increasing the growth of global electromechanical relay. The sales of the electromechanical relay are increasing because solar technologies are using relays to protect the circuits from damage and overload, and demand for solar applications are surging day to day, indicating the increasing adoption of powerful electromechanical relays particularly in the automotive industry, industrial sectors and home appliances. Increasing demand for consumer
electronic products provides a great opportunity for this market. On the other hand, emergence of SSR hamper the market growth of electromechanical relay.
Heavy-duty relays are mainly utilized for industrial applications such as machine control. Aerospace relays are manufactured in compliance with the standards such as M83536, MIL-PRF-39016, and M83726 for defense and aerospace applications.
The market also witnesses a significant growth in the car manufacturing sector. Most of the players use relays in the fuse box of the cars. These relays are used to prevent the circuits from overload and faults. Government subsidies and a rise in demand for consumer electronic products also contribute toward the growth of the market.
Global Electromechanical Relay Market Regional Analysis:
The Asia Pacific occupies significant share in the electromechanical relays market. The market is expected to increase its revenue because of the increasing adoption of electromechanical relays because of their superior performance, high efficiency. This is primarily due to the rapid rate of industrialization and the introduction of modern power distribution and networking practices. Several transmission and distribution systems in the Asia Pacific are currently under overhaul, which is creating additional demand for relays and other smart grid components. The region also has improvements in solar, wind, and tidal energy, increasing the need for larger power grids and therefore, relays and other components.
For instance, in February 2016, DARE Electronics released a new 6PDT re-lay. This relay is manufactured for an aviation company this relay is incorporated with a 26.5 VDC coil, Armel Electronics socket p/n HRS-6JV2, and it meets the requirements of MIL-R-5757/1.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Electromechanical Relay market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Electromechanical Relay Market, Key Highlights:
• Global Electromechanical Relay Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Electromechanical Relay Market
• Global Electromechanical Relay Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Electromechanical Relay Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Electromechanical Relay Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Electromechanical Relay Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
Scope of Global Electromechanical Relay Market: Inquire before buying
Global Electromechanical Relay Market, by Type
•Reed Relays
• Heavy Duty and High Voltage Relays
• Aerospace/MIL-SPEC Relays
Global Electromechanical Relay Market, by Industry Vertical
• Consumer Electronics
• Industrial Automation
• Automotive
• Aerospace
• Others
Global Electromechanical Relay Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Electromechanical Relay Market, Key Players
• DARE Electronics, Inc.
• Leone Systems
• TE Connectivity Ltd.
• Ashida Electronics Pvt. Ltd
• Control &Switchgear Electric Limited
• Eaton Corporation
• Hitachi Ltd.
• ABB Ltd.
• Siemens AG
• General Electric
• GE Digital Energy
• ZETTLER
• Mors Smitt BV
• RelayGo Components SL
• OMRON Electrical Components
• Tele HaaseSteuergerate
• O/E/N India Ltd.
• Alstom Grid
• Broyce Control
• Schweitzer Engineering Laboratories
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