Reed Relay Market To Reach USD 1,162 Million by 2030, Says P&S Intelligence

NEW YORK, March 2, 2023 /PRNewswire/ -- The reed relay market will propel at a rate of 15.4%, to reach USD 1,162 million by 2030, as per a report by a market research company, P&S Intelligence.

Below 200 V category Generating Highest Revenue

• The below 200 Volt category dominated the industry in the past, due to the fact that the most-common voltage for general transmission ranges from 110 Volt to 200 Volt.
• Furthermore, this relay has a long life of operation at low signal levels, decreased voltage drop for signals of low current, and low contact resistance.
• This relay is suitable for robotic test equipment and industrial equipment, including telecommunication infrastructure.
• With the increasing industrialization and usage of robotics, the need for test equipment is on the rise, because of which the need for these relays is also increasing.

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Rapid Industrialization Driving Increase in Relay Demand

With the initiation of industry 4.0, the manufacturing industry is undergoing a change. Companies are incorporating novel manufacturing technologies; therefore, the use of robotics and smart sensing is surging.

This gives rise to the automation of processes and the usage of smart machines in manufacturing units. Owing to the enormous rate of industrial automation, the demand for reed relays is increasing considerably.

Normally Open Relays Generate Highest Revenue

• Normally open or make-action-contact relays have the largest share of revenue in the industry. They are used the most commonly as they are well suited for normal switching.
• Due to operations at low cost and their simple construction, these variants can also be a smart substitute for proximity sensors.

Miniaturization of Devices Is Increasing Reed Relay Demand

With the increasing operational complexity in manufacturing plants, production equipment is witnessing the trend of miniaturization and the integration of microelectronics. With devices becoming smaller, economical, and more powerful, the demand for microsensors and switches is on the rise.

Reed relays can prove helpful in testing and measurement, high-end instrumentation, and semiconductor applications where quality is paramount and guarantee a long and stable life.

Browse detailed report on Reed Relay Market Insights, Segment Analysis, Growth and Demand Forecast to 2030

Europe Makes Most Use of Reed Relays

• Europe dominated the industry with a share of 26.4% in the recent past. This is due to the growing requirement for renewable energy devices and the joint efforts of European nations for decarbonization.
• APAC will grow at a rate of 15.9% in the years to come due to the progressing manufacturing, electronics, and semiconductor industries.

Growing Demand for EVs Key Factor behind Reed Relay Usage Surge

Since reed relays are an essential component of most electrical systems, they are imperative in the EV ecosystem. Be it the charging stations or the automobiles themselves, reed relays are used widely in the EV sector. Some key applications of these switches are wipers, lights, batteries, and motors.

Reed Relay Market Segmentation Coverage

Reed Relay Market by Voltage

• 200V
• 200-500V
• 500V-1KV
• 1KV-7.5KV
• 7.5KV-10KV
• 10KV and above

Reed Relay Market by Switching Action

• Normally Open or Make Action contact
• Normally Closed or Break Action contact
• Changeover or Break Before Make action contacts
• Bi-Stable contacts

Reed Relay Market by Application

• Automotive and Transportation
• Healthcare
• Telecommunication
• Test and Measurements
•  Industrial
• Household Appliances

Reed Relay Market Regional Analysis

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• Australia
• India
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• Saudi Arabia
• South Africa

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence