The contemporary scenario of the lucrative aerospace & defense industry is creating a demand influx in a gamut of associated industries, and the electromechanical relay market is leveraging the same. India is one of the developing countries in the aviation and aerospace industry, and this is creating a profitable pricing environment for the players manufacturing EMR, and it is increasing the Indian electromechanical relay market size. EMR is an electrically operated switch, which is capable of converting a small amount of power into a large amount of power.
Relays are extensively used in current home appliances namely hair dryers, kitchen appliances, and lights as they need to be switched on and off. The demand for relays in order to control the over currents/voltages is in increasing the application sectors, because they support in minimizing the damage to the connected equipment in an electrical system, thereby protecting the system as well. In case of audio amplifiers and a sort of modems, these relays control the high voltage circuit by using low voltage signal.
In India, EMRs are extensively used in industrial assembly lines, commercial equipment, and machine tool control. Moreover, relay manufacturing companies are producing them in large number to fulfill the consistent demand from various industry verticals. Manufacturers focus and efforts in building the modern version of EMRs determine their position in the EMR marketplace, influence their EMR market share, and contribute to the expansion of the EMR market size.
As a result, the India electromechanical relay market size stood at $1.67 billion in 2018 and is projected to grow with a CAGR of 5.2% over the forecast period 2019-2025, according to India electromechanical relay market report by IndustryARC.
Relentless demand from Thriving Automotive Industry:
Normally, EMR is highly adopted in cars to turn on and off the equipped electronic devices within the vehicle. In addition to this, modern car manufacturers are incorporating relay panels into fuse boxes, as it supports ease maintenance of the car. Manufacturers play a crucial role in selecting the most suitable relays, especially in the case of modern device manufacturing. In the automobile vehicles, relays use a low current signal to control a high current circuit particularly in the applications such as starter solenoid. This application makes EMR indispensable for the automotive, and the forecast period will observe the application to grow at the fastest CAGR of 6.7% through to 2025.
In the automotive industry, cars deal with heavy electrical loads. Electronic devices such as fans, horns, wipers, ignition, air-conditioning, and headlamps which are equipped in the vehicle consume a large amount of current to process their operations. Thus, efficient relays installation is in demand to lower the power consumption in different automotive vehicles including lightweight commercial vehicles, cars, and trucks. Indian automotive industry scenario is also in favor of the India electromechanical relay market. India experienced a 2.6% growth in the car units’ production during 2017-2018 and produced nearly 4.06 million units in 2018. In case of light commercial vehicles production, India recorded a notable growth of 31.5% between 2017 and 2018.
Growth Drivers in India Electromechanical Relay Marketplace:
Presently, electromechanical relays are preferred among other relays in automatic test equipment applications, because they fit in all types of switching configurations which include general-purpose, multiplexers, and matrices. Additionally, they are used in a wide variety of switch modules because of their versatility.
The mechanical lifetime of EMRs have increased with the implementation of advanced technologies. These relays are well-suited for many applications in which switching speed is not a major concern, owing to their robust design, high strength, and reliability.
Electromechanical relays presence is evident in many electrical/electronic gadgets as it is inexpensive and consumes less power. Hence, these properties are growing demand for EMRs in the power supply switching application of TVs & set-top boxes, factory automation, and HVAC temperature controllers.
Electromechanical switching application is broadly visible in industrial controls & instrumentation, railways, power conditioning equipment, load equipment, air-conditioning systems, communication equipment, and transmission towers. The industrial growth in the country has led to a rise in demand for these electromechanical relays across several industry verticals, which is driving the India electromechanical relay market growth.
The rise in energy prices is boosting the demand for advanced electromechanical relays to reduce power consumption. On the other hand, growing necessity to safeguard the renewable energy is driving the demand for generation of high capacity electromechanical relays, which affect the growth of India EMR market.
Major Players in Electrochemical Relay Market – Competitive Landscape:
Panasonic Corporation, Teledyne Relays, Honeywell International Inc., General Electric, Omron Corporation, Schneider Electric, Rockwell Automation, Inc., Siemens AG, TE Connectivity, and FUJITSU Ltd. are the electromechanical relay top 10 companies in India. These companies are concentrating to implement ample business strategies to mark their brand name by increasing their electromechanical relay market share for the same in India.
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare
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