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Relays are the switch that is operated electrically. The majority of the relays use electromagnet to run the switch automatically however different principles are also used for operation of relays. Growing requirement for relays in smart grids is a
Transparency Market Research
Relays Market to Reach US$16.2 bn by
2021 owing to Growing Need for Solar
Energy Projects
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The Global Relays Market is predicted to progress from US$9.4 bn in 2014 to US$16.2 bn by 2021 owing to the
increasing need of solar energy projects and the increasing demand for smart grids.
Full Report Description of Relays Market is available at:
Relays are primarily used to control circuits by a low-power signal. Relays control many circuits by using a single
signal. Relays are used across various applications such as military, automobiles, and industrial automation. They
are mainly utilized to prevent faults and overload in circuits. When the current surpasses the threshold value, the
armature gets activated by the coil, which operates to close the open contacts or open the closed contacts. Relays
also allow one circuit to switch over another circuit by completely separating from the first circuit.
The global relays market is primarily driven by the rising need for eco-friendly energy sources such as solar energy
and wind energy. High-capacity power relays are utilized to safely cut off high DC voltages that are used in solar
applications. Maintenance of panels, emergency response, and bypassing are the major reasons for which high DC
voltages are cut-off from solar applications. Smart grids, in the recent past, have boosted growth opportunities in the
global relays market.
The global relays market is segmented on the basis of geography, product type, and application. Based on product,
the global relays market is classified into solid state relays, latching relays, overload protection relays, automotive
relays, electromechanical relays, and others. In 2014, the global relays market was dominated by the
electromechanical relays segment, followed by the automotive relays segment and the solid state relay segment.
Military, electronics, industrial automation, and others are some of the applications of relays. In 2014, the industrial
automation segment held the highest share of 23.2% in the global relays market. The electronics segment was the
second largest market in the global relays market, followed by the military segment. Growth of the industrial sector
and the increasing need for automation in the industrial sector are two of the factors expected to majorly contribute
towards the growth of the global relays market in the years to come.
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Based on geography, the global relays market is divided into Asia Pacific, North America, Europe, and Rest of the
World. In 2014, the global relays market was led by Asia Pacific. The Asia Pacific relays market is expected to
maintain its dominant position in the next few years due to factors such as the increasing implementation of smart
grids and the increasing demand for solar projects. In 2014, Europe accounted for 25.1% of the global relays market
and is predicted to register healthy growth in the years to come.
Some of the leading companies operating in the global relays market are Comus International Inc. (U.S.), Crydom
Inc. (U.S.), Alstom S.A. (France), Omron Corp. (Japan), Fujitsu Ltd. (Japan), Coto Technology Inc. (U.S.), StandexMeder
Electronics GmbH (Germany), Siemens AG (Germany), Schneider Electric SE (France), Teledyne Relays Inc. (U.S).
Key Segments of Global Relays Market
Global Relays Market: By Product Type
> Latching relay
> Solid state relay
> Automotive relay
> Overload protection relay
> Electromechanical relay
> Others
Global Relays Market: By Application
> Military
> Industrial automation
> Electronics
> Others
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