PUBLISHER: The Business Research Company | PRODUCT CODE: 1217019
PUBLISHER: The Business Research Company | PRODUCT CODE: 1217019
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“Relay And Industrial Controls Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on relay and industrial controls market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for relay and industrial controls ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The relay and industrial controls market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: ABB Ltd.; Siemens; Honeywell International Incorporation; Emerson Electric Company; Schneider Electric SA
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the relay and industrial control market are: ABB Ltd, Siemens, Honeywell International Incorporation, Emerson Electric Company, Schneider Electric SA, Mitsubishi Electric Factory Automation, Omron Corporation, Rockwell Automation, Yokogawa Electric Corporation, and Fuji Electric.
The global relay and industrial controls market will grow from $143.36 billion in 2022 to $152.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The relay and industrial controls market is expected to grow to $188.65 billion in 2027 at a CAGR of 5.4%.
The relay and industrial control market consists of sales of PCB power relays, signal relays, plugin relays, rheostats industrial controls, pushbutton, selector, and pilot switches, and other relay and industrial controls. They are used in various industries such as the military, industrial automation, mining, electronics, and semiconductors. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A relay is defined as an electromagnetic switch that opens or closes a circuit to regulate the flow of electricity of single or multiple circuits controlled by one signal. Industrial control refers to electronic control systems that can control, monitor, and automate industrial processes.
Asia Pacific was the largest region in the relay and industrial control market in 2021. North America was the second-largest region in the relay and industrial control market. The regions covered in the relay and industrial control report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main control systems of relay and industrial control are distributed control system (DCS), supervisory control & data acquisition system (SCADA), and manufacturing execution system (MES). A distributed control system (DCS) is a platform for automated plant or industrial process control and operation. Human-machine interface (HMI), logic solvers, historian, common database, alarm management, and a common engineering suite are all combined into a DCS. The various component used are modular terminal blocks, relays, optocouplers, surge protectors, marking systems, printing, ferules cable lugs, hand tools, testers, enclosure products, PCB connectors and terminals, heavy-duty connectors, analog signal conditioners, electronics housing, power supplies, industrial ethernet, and remote IO. Relay and industrial control are used for automotive, industrial, communications, household appliances, and other applications.
The relay and industrial control manufacturing market is expected to be supported by rapid growth in investments in smart city projects in many countries globally. Industrial controls are being designed using artificial intelligence (AI) and the internet of things (IoT) that can support energy, telecommunications, surveillance, and other services. Smart city technologies are integrated with electrical and electronic components, therefore benefitting the companies operating in this market. According to the International Data Corporation (IDC) 2019, the global spending on smart city initiatives will total nearly $124 billion in 2020 and increase by 18.9% over 2019 spending. The smart cities concept is also increasingly being adopted in developing nations. For instance, more than 1,000 smart city pilot projects are either ready or are under construction globally and around 500 of them are in China.
High power consumption by relays and the presence of alternatives such as optocouplers (opt-isolators) is a major restraint on the relay and industrial control market. Relays are used to turn on or turn off a circuit electronically or electromechanically. Relays pose a problem in cases where power consumption needs to be kept minimum. For instance, to switch on a small LED light, the power consumed by the relay could be more than the power consumed by the light. Also, PV solar systems may require larger solar panels and batteries to compensate for the excess power consumption by relays. This increases costs and limits the usage of relays in such applications.
Plug-in relays are increasingly being used in the automotive sector due to their light weight compared to electromechanical relays. These relays can handle high-rated current and operating voltage similar to that of electromechanical type relays. Plug-in relays are being used in automobile applications such as electrically heated catalytic converters, heater controls, windscreen wipers, motors and pumps, and body electronics, such as door locks, seat controls, window lifters, and others. For instance, Omron's plug-in automotive relays that range from 20A to 70A are used in automotive applications such as artery motors, heater controls, windscreen wipers, and any applications that require high continuous current switching.
In January 2022, TE Connectivity, a Swiss-based technology company, acquired Phoenix Contact Group (GEIS) for an undisclosed amount. The acquisition expands TE's relay portfolio for the factory automation, elevator, and rail markets by adding a single-pole, force-guided offering. Phoenix Contact Group is a Germany-based component and systems manufacturer for connectivity solutions.
The countries covered in the relay and industrial control market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The relay and industrial control market research report is one of a series of new reports from The Business Research Company that provides relay and industrial control market statistics, including relay and industrial control industry global market size, regional shares, competitors with a relay and industrial control market share, detailed relay and industrial control market segments, market trends and opportunities, and any further data you may need to thrive in the relay and industrial control industry. This relay and industrial control market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.