Reed Relay Market Size, Share, and Analysis, By Type, By Application, By Voltage and Regional Forecasts, 2022-2032

Reed Relay Market Size, Share, and Analysis, By Type (Reed Relay in Single-In-Line Package, Reed Relay in Dual-In-Line Package and Other), By Application (Security Systems, Telecom Equipment, Process Control Systems, Automatic Test Equipment, and Electronic Instrumentation), By Voltage (200 V, 200 V-500 V, 500 V-1 kV, 1 kV-7.5 kV, & 7.5 kV-10 kV, & Above 10 kV) and Regional Forecasts, 2022-2032.

New York, May 26, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Reed Relay Market Size, Share, and Analysis, By Type, By Application, By Voltage and Regional Forecasts, 2022-2032" -

The Reed Relay market size was USD 322.9 million in 2021 and projected to grow from USD 430 million in 2023 to USD 1592.6 million by 2032, exhibiting a CAGR of 15.6% during the forecast period.
Reed relay is a relay type, which controls one or more reed switches with the help of an electromagnet. Reed switches are being manufactured since the 1930’s. The contacts are established with magnetic material and electromagnet moves them directly with no requirement of an armature. Reed relays switch faster as the moving parts are small and light than armature-based relays, but switch bounce exists. The contact capacitance is low, and they use less power to operate. The contacts of Reed Relays will be enclosed in a long, narrow glass tube for protecting them from corrosion. Multiple reed switches can be actuated at the same time by inserting them into a single bobbin.

Reed Relay Market is expected to project a CAGR of 15.6% during the forecast period, 2022-2032
The Reed Relay Market is expected to reach USD 1,592.6 million at a CAGR of 15.6 % during forecast period owing to the increasing investment in renewables, increasing adoption of EVs which is expected to increase the market share of Reed Relay Market. The demand from instrumentation and medical fields is increasing and the increase of industrial automation will lead to the implementation of reed sensors and is expected to fuel the demand of reed relays. Additionally, urbanization & increasing levels of disposable income along with sensor applications in household appliances, and smart meters will drive the growth of Reed Relay Market.

Automatic Test Equipment segment holds the largest market share
Reed Relay Market is classified based on the Applications into Security Systems, Telecom Equipment, Process Control Systems, Automatic Test Equipment, and Electronic Instrumentation. The Automatic Test Equipment segment holds the largest market share. It is utilized for signal switching using reed relays and helps in protection from overheating using thermal reed sensors. Reed relays can control the turn signals, and in protection from overload and safety. Reed relay can consistently work at the required operating voltage range and thermal reed sensors are used in automobiles as safety cut-outs which are the factors which assist market growth.
200 V segment holds the largest market share

Growth Drivers
• Increasing EV Charging Stations is Expected to Boost the Growth of the Market
• Rising Demand for New Technology is Expected to Boost the Market Growth

Low Current Rating Might Hamper the Market Growth

• STG GmbH
• Reed Relays and Electronics India Limited
• Coto Technology
• Hong Kong Aleph Co. Ltd.
• OMRON Corporation
• Comus International
• PIC (Proximity Instrumentation Controls) GmbH
• Littelfuse Inc.
• Celduc Relais
• Thomas White (Leicester) Limited
• Ryazan Metal Ceramics Instrumentation Plant JSC
• Other Prominent Players
Regional Analysis
Reed Relay market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Europe market has accounted for the largest market share in 2021. Asia Pacific region is expected to dominate largest market share during the forecast period owing to the expansion of the automotive industries and the rising demand for both electric cars and vehicles which will boost the market share. Due to the rising pollution, several initiatives are taken by the government for investing in environment friendly electric vehicles by offering financial support to EV buyers and by providing the required infrastructure to charge vehicles which is estimated to drive the market share.

Reed Relay Market Segments:
By Type
• SIL Package
• DIP Package
• Other
By Application
• Security Systems
• Telecom Equipment
• Process Control Systems
• Automatic Test Equipment
• Electronic Instrumentation
By Voltage
• 200 V
• 200 V-500 V
• 500 V-1 kV
• 1 kV-7.5 kV
• 7.5 kV-10 kV
• Above 10 kV
Reasons to Purchase this Report.
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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