Reed Relay Market Size, Share, and Analysis, By Type (Reed Relay in Single-In-Line [SIL] Package, Reed Relay in Dual-In-Line [DIP] 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
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
Reed Relay Market is classified based on the voltage into 200 V, 200 V-500 V, 500 V-1 kV, 1 kV-7.5 kV, & 7.5 kV-10 kV, & Above 10 kV. 200 V segment holds the largest market share owing to the usage in commercial and industrial applications as the voltage is very low. The generalized rating of low-voltage reed relays is between 110-200 V and they are suitable to the needs of instrumentation, automated test equipment, and requirements of tele-communications. Reed relays offer several advantages in microwave switching applications, photomultiplier detectors and in few other low current handling circuits.
Increasing EV Charging Stations is Expected to Boost the Growth of the Market
The electric vehicles sales have increased in the recent years, and the charging infrastructure for electric vehicles is being increased rapidly. Reed relays have applications in charging stations for electric vehicles as the sales are skyrocketing for electric vehicles which is increasing the scope of sales of the market. The availability of public chargers is growing for both slow and fast charging.
Rising Demand for New Technology is Expected to Boost the Market Growth
The demand for sensor technology has increased in various sectors like healthcare, aerospace, telecommunications etc. which use reed switches to sense and detect various movements, proximity sensing, liquid level and flow measurement etc. which is expected to boost the market. Reed switches can sustain many kilovolts, so are used as high-voltage relays in expensive Sulphur hexafluoride/ vacuum relays.
Low Current Rating Might Hamper the Market Growth
Reed relays are used in photomultiplier detectors & in low-current handling circuits due to low leakage current, so have a lower current rating which can better sustain current surges resulting in restraining the growth of market.
(Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT 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.
The COVID-19 pandemic had a huge effect on the Reed Relay market. Due to the COVID-19 pandemic, the manufacturing companies had to halt their production activities. They are looking forward to robotics and automation. Reed switches are used in robotics and automation. Due to the travel bans and social distancing norms the movement has been reduced and it affected the market growth of Reed Relay Market.
Reed Relay Market is further segmented by region into:
Reed Relay Market report also contains analysis on:
Reed Relay Market Segments:
Market size value in 2021
USD 322.9 million
Revenue forecast in 2032
USD 1592.6 million
CAGR of 15.6 % from 2022 to 2032
Base year for estimation
Revenue in USD million and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, Application, Voltage and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
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., PIT-RADWAR SA, Celduc Relais, Thomas White (Leicester) Limited, Ryazan Metal Ceramics Instrumentation Plant JSC and Other Prominent Players
Reed Relay Market size was estimated at USD 322.9 million in 2021 and is expected to reach USD 1,592.6 million in 2032.
Reed relay is a relay type, which controls one or more reed switches with the help of an electromagnet.
Automatic Test Equipment and 200V segment accounted for the largest Reed Relay market share
Key players: 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., PIT-RADWAR SA, Celduc Relais, Thomas White (Leicester) Limited, Ryazan Metal Ceramics Instrumentation Plant JSC and Other Prominent Players are the key players in the Reed Relay Market.
Increasing EV charging stations and Increased demand for new technology are the factors driving the Reed Relay market
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