This report provides exclusive insights into the COVID-19 impact on the Electromechanical Relay Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Electromechanical Relay Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Electromechanical Relay Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on electromechanical relay market provides in-depth analysis of segments and sub-segments in global as well as regional electromechanical relay market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional electromechanical relay market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electromechanical relay market. According to the report, the global electromechanical relay market is projected to grow at a CAGR of 4.80% over the forecast period of 2018-2024.
An electromechanical relay is a switch that is used to control high power devices. It controls the electric circuit by opening or closing the contacts of that circuit. Electromechanical relays have attractive design structures and high-quality presentation such as lower power consumption for reducing power demand, extended switching operation life, and higher consistency over product life. Electromechanical relay contains 3 terminals normally closed (NC), normally opened (NO) contacts, and common (COM). They are used mostly in the general aviation, aerospace, and wireless technology industries, but they have many other applications as well. In fact, thousands of electrical devices require electromechanical relays to make them work. This relay has strong contact pins that do not bend and additional leads to lower operating temperature, lower terminal resistance and higher conductivity.
Benefits offered by electromechanical relays such as low cost, dependability, less power consumption, and easy maintenance are some factors driving the growth of this market. Additionally, the operator’s first choice to work with the current electromechanical technology, easy to repair, harsh environments, simplicity in understanding, dependability, and maintenance are another factors boosting the growth of electromechanical relay market. Increasing global energy prices and an increasing number of renewable energy projects are fueling the demand for high capacity electromechanical relays hence this is positively impacting the growth of the global EMR market. Furthermore, the upsurge in demand for consumer electronic products is also contributing to the growth of this market. On the contrary progress in semiconductor fabrication and manufacturing technology has led to the emergence of solid-state relays (SSR) which is hampering the growth of the electromechanical relay market. Among the geographic, North America leads the electromechanical relay market. Factors such as increasing the use of modern household appliances such as hair dryers, kitchen appliances, and lights that need to be switched on and off, use of relay panels in fuse boxes of the modern car as it makes maintenance simple are driving the growth of North America region in this market.
The report on global electromechanical relay market covers segments such as type, application, and end-user industry. On the basis of type, the global electromechanical relay market is categorized into time-delay relay, power relay, general purpose relay, and contractor. On the basis of application, the global electromechanical relay market is categorized into temperature controllers, factory automation and motor controls. On the basis of end-user industry, the global electromechanical relay market is categorized into communication and technology, automotive, aerospace and defense, HVAC and consumer electronics.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global electromechanical relay market such as Panasonic, Teledyne Relays, Honeywell International In, General Electric, Omron Corporation, Schneider Electric, Rockwell Automation, Inc., Siemens, TE Connectivity and FUJITSU.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global electromechanical relay market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of electromechanical relay market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the electromechanical relay market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the electromechanical relay market to understand the present and future trends in this market and formulate their strategies accordingly.