New York, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The global surface mount reed relays market size is slated to expand at ~ 6% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 39 billion by the end of 2035, up from a revenue of ~USD 3 billion in the year 2022. In modern printed circuit board (PCB) manufacturing facilities, SMD technology is becoming the dominant approach for component assemblies as their designs are simpler and have fewer internal components.
Request Free Sample Copy of this Report @
https://www.researchnester.com/sample-request- 4198
Surface-mount reed relays are smaller, occupy less board space, and meet the critical board space cost aspects. With the growing development of the electronic industry, the demand for PCBs and, indirectly, reed relays will increase over the projected years. For instance, as per predictions, India's electronics manufacturing industry is expected to reach nearly USD 520 billion by 2025. Furthermore, between 2021 and 2022, Thailand's PCB assembly production reached around 29 million units.
Global Surface Mount Reed Relays Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- Automotive segment to garner the highest growth
- Market in Europe to grow at the highest rate
Growing Investment in Renewable Energy and Rising Solar Generation to Boost Market Growth
The global surface mount reed relays market is anticipated to foresee substantial growth over the projected period owing to the increasing solar power generation where solar inverters and power distribution units utilize reed relays, as well as the rising government initiatives, grants, loans, and approvals of various renewable sources of energy, including biomass, geothermal, solar, wind, wave, tidal, and hydroelectric energy worldwide. For instance, the International Energy Agency revealed that clean energy investment worldwide will reach nearly USD 2 trillion per year by 2030, an increase of over 50% compared to 2022. Furthermore, increased global R&D spending, as well as the rapidly growing electronics, telecom, medical, and, particularly, aviation and aerospace industries, are expected to drive market growth, as reed relays use the reed switch as the heart of their switching mechanism and can switch billions of reliable operations (load dependent).
Global Surface Mount Reed Relays Market: Regional Overview
The global surface mount reed relays market is further segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rapidly Burgeoning Population & Hiking Demand for Smart Home Appliances to Drive the Growth in the Asia Pacific Region
The surface mount reed relays market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. Factors that are majorly estimated to foster the market growth in the region are the presence of a vast pool of population, which is multiplying YOY, as well as the increase in the demand for electronic appliances by the households, which boosts the appliance and consumer electronics industries. In India, the appliances and consumer industry was valued at ~USD 9 billion in 2021, and this valuation is projected to reach ~USD 21 billion by the end of 2025. Moreover, as emerging economies such as China and India are leading the production of automobiles, with the Asia Pacific region holding the largest share of automotive production globally, the regional market demand for SMD reed relays is predicted to surge over the forecast period with the rising demand in the automobile industry.
Rising Automation to Drive Growth in the Europe Region
The surface mount reed relays market in Europe is estimated to garner the highest CAGR by the end of 2035. Surface-mount reed relays market growth in Europe is expected to be driven by massively transitioning technologies as well as rising adoption of advanced, innovative, and automated technology among small and medium-sized industries such as telecom, medical & instrumentation, automotive, and others in the region. The fact about industrial automation is supported by the increasing industrial robot density in Europe's manufacturing industry. For instance, Germany had the highest industrial robot density in 2020, with ~370 installations per 10,000 employees. Moreover, the rising utilization of reed relays in automatic test equipment to switch small loads, such as sensors and probes, as well as their rising use to isolate the control circuitry from the load being switched, which is important in automatic test equipment applications, is further expected to boost product demand with rising industrial automation in the region.
Make an Inquiry Before Buying this Report @
https://www.researchnester.com/inquiries-before-buying- 4198
Global Surface Mount Reed Relays , Segmentation by End-User Industry
- Automotive
- Aerospace & Defense
- Healthcare
- IT & Telecom
- Consumer Electronics
- Others
The automotive segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment over the projected period can be attributed to the tremendously increasing demand for automobiles with the augmenting disposable income among the middle-income population, besides the rising electrification in the automotive industry together with the growing adoption of electric vehicles (EV) worldwide. It was observed that the overall production of automobiles reached more than 23 million vehicles in 2022. Moreover, properties such as high frequency, high voltage, and suitability for surface-mount soldering make surface-mount reed relays more suitable for operation in the automotive sector, which is perpetually launching new models of SUVs and e-scooters at much more affordable prices. For instance, as per an estimation, the legacy automakers and EV startups in the United States will produce up to 400 new models of EVs by 2023.
Request for Customization of this Report @
https://www.researchnester.com/customized-reports- 4198
Global Surface Mount Reed Relays, Segmentation by Volt
- 3 Volt
- 5 Volt
- 9 Volt
- 12 Volt
- Others
The 5 Volt segment is anticipated to hold the largest revenue by the end of 2035. The factors applicable to the growth of the segment include the uptrend toward smart homes as well as the rising automation of household appliances that function with electronically controlled switches, along with the increasing use of security systems such as cameras and lights, where smaller and very fast-acting relays are required in different electrical or electronic circuits to switch large loads. As per research, it is projected that there will be more than 470 million smart homes globally by 2025. Moreover, SMD relay 5V is designed carefully to provide the least RF signal loss and least contact resistance and is preferably used in switching applications that need stable and low contact resistance, high insulation resistance, and low capacitance which is anticipated to surge its market demand.
A few of the well-known market leaders in the global surface mount reed relays market that is profiled by Research Nester are Standex International Corporation, Pickering Electronics Limited, Reed Relays and Electronics, Coto Technology, Inc., Hamilton Electronics Pvt. Ltd., Comus International, TE Connectivity Corporation, Sanyu Electric, Inc., RS Components & Controls (I) Ltd., Misensor Tech Co., Ltd, and other key market players.
Recent Development in the Global Surface Mount Reed Relays Market
- Standex International Corporation, a global market leader in electronics components manufacturing, launched the new MK31 series, expanding its line of ultraminiature surface mount (SMD) read sensors. The new design is 20% smaller than the competition and capable of switching a minimum of 50 million reliable operations.
- Pickering Electronics Limited, a designer, manufacturer, and distributor of high-quality reed relays launched the high-voltage, long-life dry read relay under the unique Series 67 range. This leads to the addition of high-power switches to Pickering's portfolio that is suitable for applications including cable testing and electro solar.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach to helping global industrial players, conglomerates, and executives for their future investments while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds.
