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(Wireless-NewsWire.Com, April 23, 2020 ) Market Overview
Global Electromechanical Relay Market is expected to grow at a high CAGR during the forecasting period (2019-2026).
An electromechanical relay is just a switch which is electrically operated. These are used to manage high power electrical devices and mainly used when there is a need to control a circuit using a low power signal or multiple channels using a single message.
Electromagnetic relays have several electronic components such as an electromagnet, armature, relay spring, and others. Besides, a set of electrical contacts are needed to transfer the power.
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Drivers & Restraints
The advantageous features of electromechanical relays such as low cost, long operation life, less power consumption, reliability, and easy maintenance are driving demand for this product in the world. Smart grids are developed to distribute the electricity to every region to overcome to excessive demand for electricity.
These smart grids also use relays to protect the electric circuits from overload which is driving factor of the market. Moreover, 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.
This statistic gives information about global investment in solar applications from 2004 to 2017. In 2017, global investment in this field reached 161 billion U.S. dollars.
Significant limitations for this market is these relay usually break easily due to improper applications, environmental issues, and others. Moreover, due to the extra heat generation, the coils of the circuit may get damaged.
Segment Analysis:
Based on product type electromechanical relay market is segmented into reed relays, high voltage, and heavy duty relays, aerospace / MIL-SPEC relays. Of all these heavy duty relays occupies the dominant share of the market. Because heavy-duty re-lays are most commonly used in automotive machines and other industrial applications.
They are made of sustainable, long-lasting materials and are widely used to control starters and other components. Relays designed for high voltage and high-frequency applications are heavily insulated and use durable materials to increase contact life and withstand heavy use. They can typically withstand multiple kilovolts (kV) surges.
The global electromechanical relay market is segmented from the application into few main segments such as home appliances, automotive industry, and others.
Automotive segment occupies dominant share because of significant growth of these electromechanical relay applications in the car manufacturing sector which is currently experiencing a definite upswing in car sales across the world. Most of the car manufacturing companies use relays in the fuse box of the cars to prevent the circuits from overload and faults.
Geography Analysis:
Global electromechanical relay market is segmented by geographic region which includes North America, South America, Europe, Asia-Pacific, and ROW. The Asia Pacific occupies the significant share in the electromechanical relays market.
The electromechanical relay market in Europe is expected to grow at a CAGR of XX%. The market is expected to increase its revenue because of the increasing adoption of electromechanical relays due to 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.
Competitive Analysis
Prominent players in the global electromechanical relay market are DARE Electronics, Inc., Leone Systems, TE Connectivity Ltd., Ashida Electronics Pvt. Ltd. Omron, Eaton Corporation, Hitachi, Ltd., ABB Ltd., Siemens AG, and General Electric, Mitsubishi Electric, and others.
Product launches, partnerships, and expansions are some of the strategies adopted by players to increase their market share. 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.
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