Worldwide Market Description of Relays:
Growing requirement for relays in smart grids is a significant
driver, fuelling the expansion of relays market. Smart grid
technologies are escalating rapidly as the requirement for automated
power grid is increasing. This is an electricity grid which is used
to deliver electricity by means of two way technologies. It helps to
enable communication between utility and consumers. Smart grids
provide better control over energy cost and more reliable supply of
energy for consumers. The relays are used in all the applications of
smart grid which enables the protection of equipment from current
overloading and fluctuation. Moreover, multi band wireless technology
is also an important driver of this market. It functions as an
alternative for the macro based station which enables to expand
quality of services and coverage in residential market. In addition,
demand of solar projects is also one of the major factors behind the
growth of relays market globally. The reason behind the increasing
need of solar energy is the need for eco-friendly and green energy,
i.e. solar energy. High capacity power relays are used for solar
application which is likely to cut off safely the high DC voltages.
The Global relays market is facing challenges due to the involvement
of local players. Local manufacturers offer products at reasonable
costs. They also provide quality products that are similar to those
offered by the leading market players. Furthermore, short life span
of relays is set to adversely affect the relays market. The relays
wear out quickly due to incorrect application and environmental
issues. The relays should be capable of meeting higher temperature
which are exposed for longer heating times. .Expansion in application
areas is expected to create opportunities in the market. Automotive
and signal relays are anticipated to offer ample opportunities for
the market during the forecast period. Leading players are estimated
to expand the application of relays in automotives, microelectronic
technology, etc.
The relays market in this report has been geographically segregated
into four regions: North America, Europe, Asia-Pacific and Rest of
the World. Moreover, the market is segmented based on product type
which includes automotive relay, electromechanical relay, latching
relay, overload protection relay, solid state relay and others. The
electromechanical relays had highest market share of 21.33% in 2014.
The relays market is further segmented based on its applications that
include military, electronics, industrial automation and others. The
application of relays in industrial automation held the highest
market share of 23.2% in 2014.
Download Brochure Containing Technical Aspects of Relays at:
http://bit.ly/29h0jzo
Asia Pacific held the largest market size for relays market globally
as of 2014. Asia Pacific market is growing at a CAGR of 7.3% during
the forecast period. Demand of solar projects is one of the major
factors responsible for the growth in the relays market in this
region. Moreover, electromechanical relays witnessed highest market
share of 21.2% in 2014. During the forecast period, electronics
sector in terms of application dominated the relays market. The relay
market is facing challenges from the local players which are acting
as the major restraint in the market.
Major industry participants include Alstom S.A. (France), Comus
International Inc. (U.S.), Crydom Inc. (U.S.), Coto Technology Inc.
(U.S.), Omron Corp. (Japan), StandexMeder Electronics GmbH (Germany),
Schneider Electric SE (France), Siemens AG (Germany), Teledyne Relays
Inc. (U.S) and Fujitsu Ltd. (Japan) among others.
