North America Relay Market Size, Share & Trends Analysis Report By Mounting Type (PCB Mount, Plug In, Din Rail Mount, and Panel Mount), By Type, By End User. By Country and Growth Forecast, 2023 - 2030
The North America Relay Market would witness market growth of 6.0% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 15860.4 thousand units, showcasing a growth of 8.6% (2019-2022).
In the relay market, power generation and distribution are pivotal sectors encompassing a diverse array of end users. Power generation facilities, ranging from traditional fossil fuel-based plants to renewable energy installations like solar and wind farms, rely on relays for crucial functions such as circuit protection, voltage regulation, and control signaling. Therefore, the Canada market used 681.4 thousand units of relays in power generation and distribution sectors in 2022.
The US market dominated the North America Relay Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,045 million by 2030. The Canada market is experiencing a CAGR of 8.4% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 7.5% during (2023 - 2030).
The relay market is undergoing a dynamic transformation fueled by technological advancements, increasing demand for energy efficiency, and a growing emphasis on sustainability. Relays, once perceived as simple electromechanical devices, have evolved into sophisticated components, playing a pivotal role in diverse applications across industries. Relays serve as crucial components in electrical systems, acting as switches controlling the flow of electric currents. Their adoption spans various applications, from industrial automation and telecommunications to automotive and aerospace industries.
Additionally, the versatility of relays is reflected in their widespread applications across diverse sectors. The adaptability of relay technology allows for customization to suit specific requirements in different industries. In power systems, relays act as protective devices, detecting faults and abnormalities in electrical circuits. They play a crucial role in preventing equipment damage and ensuring power distribution network stability. Overcurrent, differential, and distance relays are among the types employed to safeguard power infrastructure.
Mexico has been investing significantly in wind and solar power projects to diversify its energy mix and reduce reliance on traditional fossil fuels. Relays are integral components of renewable energy infrastructure's protection and control systems, ensuring the safe and effective operation of solar panels and wind turbines. Therefore, North America's growing renewable energy and telecom sectors will boost the demand for relays in the region.
Based on Mounting Type, the market is segmented into PCB Mount, Plug In, Din Rail Mount, and Panel Mount. Based on Type, the market is segmented into Time Relay, Protection Relay, Monitor & Control Relay, General Purpose Relays, and Others. Based on End User, the market is segmented into Power Generation & Distribution, Industrial Automation, Communication & Technology, Automotive, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Fujitsu Limited
- ABB Ltd.
- Broadcom, Inc.
- Eaton Corporation PLC
- Schneider Electric SE
- Siemens AG
- TE Connectivity Ltd.
- General Electric Company
- Rockwell Automation, Inc.
- Omron Corporation
By Mounting Type (Volume, Thousand Units, USD Billion, 2019-2030)
- PCB Mount
- Plug In
- Din Rail Mount
- Panel Mount
- Time Relay
- Protection Relay
- Monitor & Control Relay
- General Purpose Relays
- Others
- Power Generation & Distribution
- Industrial Automation
- Communication & Technology
- Automotive
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Relay Market, by Mounting Type
- 1.4.2 North America Relay Market, by Type
- 1.4.3 North America Relay Market, by End User
- 1.4.4 North America Relay Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Opportunities
- 3.2.3 Market Restraints
- 3.2.4 Market Challenges
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Product Launches and Product Expansions
- 4.2.2 Acquisition and Mergers
- 4.2.3 Geographical Expansions & Business Expansions
- 4.3 Market Share Analysis, 2022
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2019-2024)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2019, Dec – 2023, Aug) Leading Players
- 4.5 Porter’s Five Forces Analysis
- Chapter 5. North America Relay Market by Mounting Type
- 5.1 North America PCB Mount Market by Country
- 5.2 North America Plug In Market by Country
- 5.3 North America Din Rail Mount Market by Country
- 5.4 North America Panel Mount Market by Country
- Chapter 6. North America Relay Market by Type
- 6.1 North America Time Relay Market by Country
- 6.2 North America Protection Relay Market by Country
- 6.3 North America Monitor & Control Relay Market by Country
- 6.4 North America General Purpose Relays Market by Country
- 6.5 North America Others Market by Country
- Chapter 7. North America Relay Market by End User
- 7.1 North America Power Generation & Distribution Market by Country
- 7.2 North America Industrial Automation Market by Country
- 7.3 North America Communication & Technology Market by Country
- 7.4 North America Automotive Market by Country
- 7.5 North America Others Market by Country
- Chapter 8. North America Relay Market by Country
- 8.1 US Relay Market
- 8.1.1 US Relay Market by Mounting Type
- 8.1.2 US Relay Market by Type
- 8.1.3 US Relay Market by End User
- 8.2 Canada Relay Market
- 8.2.1 Canada Relay Market by Mounting Type
- 8.2.2 Canada Relay Market by Type
- 8.2.3 Canada Relay Market by End User
- 8.3 Mexico Relay Market
- 8.3.1 Mexico Relay Market by Mounting Type
- 8.3.2 Mexico Relay Market by Type
- 8.3.3 Mexico Relay Market by End User
- 8.4 Rest of North America Relay Market
- 8.4.1 Rest of North America Relay Market by Mounting Type
- 8.4.2 Rest of North America Relay Market by Type
- 8.4.3 Rest of North America Relay Market by End User
- Chapter 9. Company Profiles
- 9.1 Fujitsu Limited
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 ABB Ltd.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expense
- 9.2.5 Recent strategies and developments:
- 9.2.5.1 Acquisition and Mergers:
- 9.2.5.2 Geographical Expansions:
- 9.2.6 SWOT Analysis
- 9.3 Broadcom, Inc.
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 SWOT Analysis
- 9.4 Eaton Corporation PLC
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Segmental and Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Acquisition and Mergers:
- 9.4.6 SWOT Analysis
- 9.5 Schneider Electric SE
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Geographical Expansions & Business Expansions:
- 9.5.6 SWOT Analysis
- 9.6 Siemens AG
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expense
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Product Launches and Product Expansions:
- 9.6.6 SWOT Analysis
- 9.7 TE Connectivity Ltd.
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Acquisition and Mergers:
- 9.7.6 SWOT Analysis
- 9.8 General Electric Company
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 SWOT Analysis
- 9.9 Rockwell Automation, Inc.
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Segmental and Regional Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. Omron Corporation
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expenses
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Product Launches and Product Expansions:
- 9.10.6 SWOT Analysis
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