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レポート概要
| モルドールインテリジェンス社の本調査資料では、世界のリレー市場規模が、予測期間中（2023年-2028年）にCAGR 4.6%で成長すると予測しています。本資料では、リレーの世界市場について多角的に調査し、イントロダクション、調査手法、エグゼクティブサマリー、市場動向、製品種類別（電気機械、固体）分析、エンドユーザー用途別（航空宇宙、防衛・軍事、自動車、通信、その他）分析、地域別（北米、ヨーロッパ、アジア太平洋、中南米、中東、アメリカ、カナダ、ドイツ、イギリス、フランス、中国、インド、日本、韓国）分析、競争状況、市場機会・将来の動向など、以下の内容を記載しています。なお、参入企業情報として、TE Connectivity、American Zettler、Churod Electronics、Omron、Panasonicなどが含まれています。 ・イントロダクション ・調査手法 ・エグゼクティブサマリー ・市場動向 ・世界のリレー市場規模：製品種類別 - 電気機械の市場規模 - 固体の市場規模 ・世界のリレー市場規模：エンドユーザー別 - 航空宇宙における市場規模 - 防衛・軍事における市場規模 - 自動車における市場規模 - 通信における市場規模 - その他エンドユーザーにおける市場規模 ・世界のリレー市場規模：地域別 - 北米のリレー市場規模 アメリカのリレー市場規模 カナダのリレー市場規模 … - ヨーロッパのリレー市場規模 ドイツのリレー市場規模 イギリスのリレー市場規模 フランスのリレー市場規模 … - アジア太平洋のリレー市場規模 中国のリレー市場規模 インドのリレー市場規模 日本のリレー市場規模 … - 南米のリレー市場規模 - 中東・アフリカのリレー市場規模 ・競争状況 ・市場機会・将来の動向 |
The relay market is expected to register a CAGR of 4.6% during the forecast period (2023 – 2028). The relay market is projected to witness significant growth owing to the acceptance of different relays across various end-user applications, including aerospace, defense & military, automotive, communications, energy and power, industrial, and others.
Key Highlights
- The rise in power consumption, growing adoption of electric vehicles, implementation of smart power grids, and increasing adoption of vehicular safety technology are some major factors expected to drive the relay market. However, volatility in raw material prices is one of the major factors that may hamper the growth of the relay market during the forecast period.
- Developing and developed countries worldwide are significantly investing in the construction of smart power grids, which is anticipated to propel the market for relays in the future. For instance, in July 2021, GridWise Alliance announced a USD 5 billion funding to revamp the US’s transmission and distribution infrastructure with smart sensors, controls, and storage.
- Smart grids are advanced electric power grid infrastructures for enhanced reliability and efficiency and work with automated control, modern communications infrastructure, high-power converters, modern energy management techniques, and sensing and metering technologies.
- The demand for relays in an automated power grid is huge as they can support monitoring transformers and protect from transformer overload, overexcitation, and through-fault, as well as standard protection functions including overcurrent, differential, and earth faults.
- The emergence of COVID-19 adversely impacted the global relay market. The massive downturn in the industries that have been major end-users of the different types of relays impacted the decline in the relay market at a global level. Also, the pandemic brought key projects in the renewable resources sector to a standstill due to the lockdowns imposed in many countries to control the spread of the disease in 2020 and early 2021.
- Although, the industries across various parts of the world are opening back, easing the supply chain constraints. However, the disruptions caused by the pandemic are expected to have their impact felt at least for a short period.
Relay Market Trends
Growing Adoption of Relays in Automotive Industry
- The automotive industry is transitioning from hardware- to software-enabled vehicles, and the average software and electronics content per vehicle is increasing rapidly. Electronics often enable the integration of new functions and features into the car. Thus, electronics is increasing penetration into major applications, including powertrain, safety management, body, and convenience or infotainment.
- In addition, passenger safety is another factor driving the adoption of automated automobile systems. The installation of safety features and systems in vehicles has greatly aided in reducing the number of accidents and fatalities on the road over the past few decades.
- The rapidly growing use of electric components in current and upcoming vehicles is consistently propelling the need for manufacturing reliable and standardized components for efficient, safe, and secure switching of electric loads. These factors are currently driving the market growth.
- The relays for automotive applications are engineered for direct current (DC) voltages in passenger comfort and infotainment systems and managing power levels in harsh environments. The relays are utilized in almost all harnesses and box modules throughout a vehicle, comprising the car’s rear and front area, body control, passenger and engine areas, powertrain, and door, seat, roof, and fan modules.
- Additionally, the demand for advanced relays with lightweight and high-performance characteristics is compelling manufacturers to invest in producing more solid-state relays, compared to traditional heavy electromechanical relays, owing to the growing demand for hybrid and electric vehicles around the world. This, in turn, will boost market growth in the future.
Asia-Pacific to Register a Significant Market Share During the Forecast Period
- Asia-Pacific is anticipated to hold a substantial market share during the forecast period. The growth of the relay market in the Asia Pacific is owing to the rising renewable energy capacity addition. Also, the increased grid infrastructure activities and emphasis on substation automation under IEC 61850 standard are anticipated to propel the market in the Asia Pacific during the forecast period.
- The advent of renewable energy generation across the region provides opportunities for relay manufacturers as it is utilized for many applications, such as offering a very big contact gap, powerful switching competencies, and many others in this sector. Apart from this, the government and various regional companies have invested strongly in developing this sector.
- Further, the Chinese government’s programs, such as the Made in China 2025 plan, promote the use of R&D in factory automation and technologies and its investments. Also, as most of the automation equipment is imported from Germany and Japan, the ‘Made in China’ initiative aims to expand the country’s domestic production of automation hardware and equipment. Initiatives by the government in the automation sector will drive the studied market.
- Moreover, increasing investments, manufacturing capacity, and sales of automotive vehicles considerably will drive the relay market shortly. In addition, stricter emission regulations by governments are propelling automakers across the region to invest in electric vehicles. Various automakers are therefore significantly investing in developing and launching new electric vehicles. For instance, in December 2021, South Korea’s Hyundai Motor Co unveiled its plan to invest 40 billion rupees (USD 530 million) in launching six electric vehicles in India by 2028. The rising investment in electric vehicles is expected to further boost the demand for relays.
- Furthermore, in February 2022, Hyundai Mobis, the auto parts producing unit of Hyundai Motor Group, unveiled its plan to spend up to USD 6.72 billion in the next three years to strengthen auto chips, mobility, and other fields as its future growth drivers.
- Thus, owing to the factors mentioned above, the revenue share from the Asia Pacific is anticipated to grow faster than the other geographical regions during the forecast period.
Relay Market Competitor Analysis
The Global Relay Market is moderately competitive and consists of several major players such as TE Connectivity, American Zettler, Churod Electronics, Omron, Panasonic, etc. In terms of market share, few major players currently dominate the market. However, with innovations and technological advancements, many companies are increasing their market presence through organic and inorganic growth strategies and tapping new markets. Some of the recent developments in the market are:
- In December 2021, TE Connectivity acquired narrow safety relay (NSR) technology from Phoenix Contact. TE Connectivity will be involved in manufacturing and marketing NSR relays through this technology acquisition.
- In November 2021, Pickering Electronics Ltd. presented high voltage reed relays comprising the newly released Series 100HV at Productronica 2021. Pickering’s reed relays can stand off from 1kVto 15kV and facilitate switching from 500V to 12.5kV at up to 50W. The relays are best suitable for mixed-signal semiconductor testers, backplane testers, high-end cable testers, electric vehicles, medical electronics, big physics, solar energy, in-circuit test equipment, and high voltage instrumentation.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview (Current Scenario of Relay, Benefits of a Relay and KPI Analysis)
4.2 Technological Trends/Advancements
4.3 Impact of COVID-19 on the Market
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of Substitute
4.4.4 Threat of New Entrants
4.4.5 Intensity of Competitive Rivalry
4.5 Pricing Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Investments in Renewable Energy Sources
5.1.2 Increasing Demand for Relays in Electric and Hybrid Vehicles
5.2 Market Challenges
5.2.1 Volatility in Raw Material Prices
6 MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Electromechanical
6.1.2 Solid State
6.2 End-user Application
6.2.1 Aerospace, Defense and Military
6.2.2 Automotive
6.2.3 Communications
6.2.4 Energy and Power
6.2.5 Industrial
6.2.6 Other End-user Applications
6.3 Geography
6.3.1 North America
6.3.1.1 US
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 Germany
6.3.2.2 United Kingdom
6.3.2.3 France
6.3.2.4 Rest of Europe
6.3.3 Asia-Pacific
6.3.3.1 China
6.3.3.2 India
6.3.3.3 Japan
6.3.3.4 South Korea
6.3.3.5 Rest of Asia-Pacific
6.3.4 Latin America
6.3.5 Middle-East
7 COMPETITIVE LANDSCAPE
7.1 TE Connectivity
7.2 American Zettler
7.3 Churod Electronics
7.4 Omron Corporation
7.5 Panasonic Corporation
7.6 Circuit Interruption Technology, Inc.
7.7 Fujitsu Limited
7.8 Song Chuan Group Company
7.9 KEMET Corporation
7.10 Phoenix Contact
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITES AND FUTURE TRENDS
10 ABOUT US