DUBLIN, Sept. 2, 2021 /PRNewswire/ — The “Relay and Industrial Controls Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global relay and industrial controls market as it emerges from the COVID-19 shut down.
The global relay and industrial controls market is expected to grow from $72.17 billion in 2020 to $75.88 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $84.45 billion in 2025 at a CAGR of 3%.
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Where is the largest and fastest growing market for the relay and industrial controls? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Relay and Industrial Controls market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider relay and industrial controls market, and compares it with other markets.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
Market segmentations break down market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
The relay and industrial controls market section of the report gives context. It compares the relay and industrial controls market with other segments of the relay and industrial controls market by size and growth, historic and forecast.
Major players in the relay and industrial controls 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 relay and industrial controls market consists of sales of relays and industrial controls and related services which are used in various industries such as military, industrial automation, mining, electronics, and semiconductors. The relay and industrial control establishments are primarily engaged in the manufacturing of relays, industrial controls, motor starters, controllers, and control accessories. Relays include PCB power relays, signal relays, and plugin relays and Industrial control systems (ICS) include networks, devices, and systems used to operate and/or automate industrial processes.
The relay and industrial controls 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 of 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 battery to compensate for the excess power consumption by relays. This increases costs and limits the usage of relays in such applications.
The relay and industrial controls market is segmented by application into automotive, industrial, communications, household appliance, others. It is also segmented by control system into distributed control system (DCS), supervisory control & data acquisition system (SCADA), manufacturing execution system (MES).
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 June 2018, ABB, a Swiss-based industrial automation and power grids system manufacturer, acquired GE Industrial Solutions (GEIS) for $2.6 billion. This acquisition allowed ABB to expand by integrating GEIS in its electrification products division and reforming as a new business unit called Electrification Products Industrial Solutions (EPIS). Furthermore, the company also established a long-term strategic supply relationship with GE to supply them with products and solutions from across the ABB portfolio. GEIS is a Connecticut, USA headquartered manufacturer and provider of electrical components and related solutions to protect and control electrical power and equipment.
Key Topics Covered:
1. Executive Summary
2. Relay and Industrial Controls Market Characteristics
3. Relay and Industrial Controls Market Trends and Strategies
4. Impact of COVID-19 on Relay and Industrial Control
5. Relay and Industrial Controls Market Size and Growth
5.1. Global Relay and Industrial Control Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Relay and Industrial Control Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Relay and Industrial Controls Market Segmentation
7. Relay and Industrial Controls Market Regional and Country Analysis
7.1. Global Relay and Industrial Controls Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Relay and Industrial Controls Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Relay and Industrial Controls Market
9. China Relay and Industrial Controls Market
10. India Relay and Industrial Controls Market
11. Japan Relay and Industrial Controls Market
12. Australia Relay and Industrial Controls Market
13. Indonesia Relay and Industrial Controls Market
14. South Korea Relay and Industrial Controls Market
15. Western Europe Relay and Industrial Controls Market
16. UK Relay and Industrial Controls Market
17. Germany Relay and Industrial Controls Market
18. France Relay and Industrial Controls Market
19. Eastern Europe Relay and Industrial Controls Market
20. Russia Relay and Industrial Controls Market
21. North America Relay and Industrial Controls Market
22. USA Relay and Industrial Controls Market
23. South America Relay and Industrial Controls Market
24. Brazil Relay and Industrial Controls Market
25. Middle East Relay and Industrial Controls Market
26. Africa Relay and Industrial Controls Market
27. Relay and Industrial Controls Market Competitive Landscape and Company Profiles
27.1. Relay and Industrial Controls Market Competitive Landscape
27.2. Relay and Industrial Controls Market Company Profiles
27.2.1. ABB Ltd