The global relays market reached a value of nearly $29,265.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 6.0% since 2015. The market is expected to decrease from $29,265.8 million in 2019 to $27,416.7 million in 2020 at a rate of -6.3%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.8% from 2021 and reach $34,423.4 million in 2023.
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The relays market consists of sales of relays and related services by entities (organizations, sole traders and partnerships) that produce relays that are used in various applications such as in industrial automation, electronics, automotive, military and aerospace and similar other applications. Relays are electric switches that use electromagnetism to convert small electrical stimuli into larger currents. Relays make and break circuit contact with the help of a signal without any human involvement in order to switch it ON or OFF. They are used mostly to control a high-powered circuit using a low power signal.
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The relays market report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Some of the major players of the relays market are Siemens AG, Schneider Electric, TE Connectivity, ABB Ltd., Eaton Corporation
The relays market is segmented by type, by application, by voltage, and by geography.?
By Type- The relays market can be segmented by type
- a. Latching Relay
- b. Solid State Relay
- c. Automotive Relay
- d. Electromechanical Relay
- e. Others
By Application – The relays market can be segmented by application
- a. Military
- b. Industrial Automation
- c. Electronics
- d. Others
By Voltage –? The relays market can be segmented by voltage
- a. Relays < 60 Volts
- b. Relays > 60 Volts
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The relays market report describes and explains the global relays market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The relays report evaluates the market across each region and for the major economies within each region.
The countries covered in the global relays market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
The regions covered in the global relays market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Full Report Includes
- Executive Summary
- Report Structure
- Relays Market Characteristics
- Relays Market Product Analysis
- Relays Market Supply Chain
- Key Mergers And Acquisitions In The Relays Market
- Market Background: Machinery Manufacturing Market
- Copyright And Disclaimer
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