市場調查報告書
商品編碼
1611012
全球繼電器市場 2024-2031Global Relay Market 2024-2031 |
繼電器市場規模、佔有率和趨勢分析報告,按類型(機電繼電器(EMR)、固態繼電器(SSR)、熱繼電器、閉鎖繼電器、汽車繼電器等)、按電壓範圍(低壓繼電器、中壓繼電器和高壓繼電器)電壓繼電器),以及最終用戶產業(汽車和運輸、能源和電力、電子和半導體、航太和國防等)預測期(2024-2031)
預計在預測期內(2024-2031 年)繼電器市場將以 12.7% 的複合年成長率顯著成長。市場成長歸因於關鍵因素,例如工業流程自動化需求的增加、再生能源項目和電網現代化的成長、智慧家居和物聯網應用的擴展以及電力基礎設施發展的激增。根據全球智慧能源聯盟 (GSEF) 的數據,2022 年全球智慧電網市場規模為 1,003 億美元,並且正在成長至約 1,003 億美元。到 2032 年將達到 1,856 億美元。
Relay Market Size, Share & Trends Analysis Report by Type (Electromechanical Relays (EMR), Solid State Relays (SSR), Thermal Relays, Latching Relays, Automotive Relays and Others), by Voltage Range (Low Voltage Relays, Medium Voltage Relays and High Voltage Relays), and by End-User Industry (Automotive and Transportation, Energy and Power, Electronics and Semiconductors, Aerospace and Defense and Others) Forecast Period (2024-2031)
The relay market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as increasing demand for automation in industrial processes, growth in renewable energy projects and grid modernization, expansion of smart home and IoT applications, and surge in power infrastructure development. According to the Global Smart Energy Federation (GSEF), the global smart grid market was at $100.3 billion in 2022 and is growing to approx. $185.6 billion by 2032.
Market Dynamics
Increasing Demand for Automation and Industry 4.0
The relay market is primarily driven by the advancements in automation and the emergence of Industry 4.0. As industries increasingly adopt automated processes, the demand for reliable switching solutions has surged. Relays play a critical role in managing electrical circuits, ensuring efficient control over machinery and systems. Industry 4.0 emphasizes connectivity and smart technologies, further enhancing the need for advanced relay systems that support real-time data processing and communication. As manufacturing processes evolve, the need for more sophisticated and reliable control mechanisms continues to expand. This trend positions the relay market for robust growth, fueled by ongoing investments in automation technologies and smart manufacturing solutions.
Increasing Development of Smart Relay, that Offers Enhanced Connectivity
The development of smart relays is significantly driving growth in the relay market by enhancing connectivity and functionality. These advanced devices integrate communication protocols, enabling seamless interaction with other smart devices and systems. The ability to monitor and control electrical systems remotely improves efficiency and reliability, appealing to various industries, including manufacturing and energy management. Moreover, smart relays support data collection and analysis, facilitating predictive maintenance and reducing operational costs. As the demand for automation and IoT solutions increases, the adoption of smart relays becomes more prevalent. Their compatibility with cloud technologies further enhances their utility, providing real-time insights and remote access capabilities.
Market Segmentation
The Thermal Relays Segment is Projected to Hold the Largest Market Share
The primary factors supporting the growth include the rising demand for thermal relays in motor protection and other automated systems. The expansion of power generation and distribution infrastructure is boosting the demand for relays, including thermal relays that are crucial for protecting electrical circuits in power systems. Thermal overload protection for motors is integrated into relays to prevent overheating and safeguard the motor by interrupting the circuit when excessive current is detected. For instance, in May 2023, ABB Ltd. introduced new functionality for the all-in-one protection and control relay REX610, REX610 is the latest addition to ABB's Relion(R) product family. The Thermal overload protection for motors (49M) prevents the motor from overheating, which might cause premature insulation failure of the windings or even destroy the motor.
Energy and Power to Hold a Considerable Market Share
The factors supporting segment growth include increasing global energy consumption, driven by population growth and industrial expansion, and the demand for efficient power distribution systems growing, boosting demand for relays used in power transmission and distribution. The shift towards smart grids, which require advanced control and monitoring systems, increases the demand for relays. These devices play a critical role in managing power flow, detecting faults, and protecting electrical equipment. Relays in energy and power systems provide reliable switching and protection for electrical circuits, ensuring efficient and safe operation across various applications. For instance, Xiamen Hongfa Electroacoustic Co., Ltd. offers Hongfa power relays (general purpose relays) that are widely used in household appliances, smart homes, power control, industrial control, and other fields. Hongfa has a complete product line of power relays, covering 5-40A products, with a wide range of specifications. In the traditional power supply field, they are mainly used in UPS, ATS, inverter, switching power supply, and others.
The global relays market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Growing Demand for Relays in North America
The regional growth is attributed to an increase in automation across industries such as manufacturing, automotive, and energy is driving demand for relays to control various electrical processes and machinery. The development of smart grids and the integration of renewable energy sources require advanced relay technologies for grid protection, monitoring, and control, further fueling market growth. According to the US Energy Information Administration, in 2022, US electric utilities had about 119 million advanced (smart) metering infrastructure (AMI) installations, equal to about 72.0 of total electric meter installations. Residential customers accounted for about 88.0% of total AMI installations, and about 73.0% of total residential electric meters were AMI meters.
Asia-Pacific Holds Major Market Share
Asia-Pacific holds a significant share owing to the presence of relays offering companies such as Fujitsu Ltd., Mitsubishi Electric, Omron Corp., Song Chuan Precision Co., Ltd. and Toshiba Corp., and others. The market growth is attributed to the rapid industrial growth, particularly in countries such as China, India, and South Korea, is increasing demand for relays in industrial automation, manufacturing, and process control to drive the growth of the market. According to the Organization for Research on China and Asia (ORCA), in January 2024, China has been the largest market for industrial robots since 2013 and accounted for 52.0% of all new installations in 2022. The robot density rate (number of industrial robots per 10,000 workers) in China, a metric for automation, has grown from 97 robots per 10,000 workers in 2017 to 392 in 2023. Market players contribute to accelerating the spread of renewable energy toward the realization of a carbon-neutral society, such as distributed power. For instance, in February 2023, OMRON Corp. introduced the G9KA-E high-capacity power relay. The G9KA-E has improved heat dissipation performance by devising a terminal shape and bottom height. The spread of renewable energy toward the realization of a carbon-neutral society, such as distributed power conditioners and EV fast chargers, stationary power storage systems (ESS), and uninterruptible power supplies (UPS).
The major companies serving the relays market include ABB Ltd., Omron Corp., Schneider Electric, Siemens AG, and TE Connectivity among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market.
Recent Development