Press release
Analysis on Global HVAC Relay Market Booming Trends & Forecast Assessment for the Period 2018 - 2026
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Relays are a type of an electrical circuit or switch that control the opening or closing of a different electrical circuit either electronically or electromagnetically. HVAC relay is a major component of HVAC control system. It is used to control the operation of a HVAC system. HVAC relay is described as a switch that is generally used to control the operation of small capacity compressors, fan motors of condensers, evaporators, and cooling tower motors. It is used to switch on or off an HVAC equipment. In general, HVAC relays control large voltage equipment with low power control signal, which actuates or stops the relay as per design or arrangement of the relay circuit.
Increase in demand for HVAC systems in the automotive industry for automotive climate control is expected to drive the demand for HVAC relay, as the demand for automobiles is increasing across the globe. Rise in construction of non-residential buildings and growth in investments in the sector are also driving the HVAC relay market. Implementation of stricter government regulations and policies regarding energy efficiency and savings is expected to shift the focus toward ‘green buildings’ and smarter HVAC systems. This, in turn, is anticipated to boost the market for HVAC relay. However, high initial setup costs of HVAC systems are likely to hamper the market in the near future.
The report includes detailed value chain analysis, which provides a comprehensive view of the global HVAC relay market. Porter’s Five Forces model for the HVAC relay market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, where in type and application are benchmarked based on their market size, growth rate, and general attractiveness.
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The report provides the actual market size of HVAC relay for 2017 and estimated market size for 2018 with forecast for the next eight years. The global market for HVAC relay has been provided in terms of revenue. Market revenue has been defined in US$ Mn. Market numbers have been estimated based on type and application of HVAC relay. Market size has been provided in terms of global, regional, and country level markets.
The report comprises profiles of major companies operating in the global HVAC relay market. Key players in the HVAC Relay market are TE Connectivity Limited, Control & Switchgear Electric Limited, Eaton Corporation, Siemens AG, General Electric, ABB Ltd., Littlefuse Inc., Hitachi Ltd., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Toshiba Corporation, and Schneider Electric. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, regional presence, and recent developments.
The global HVAC relay market has been segmented as follows:
HVAC Relay Market, by Type
Electromagnetic Relay
Solid State
Thermal Relay
Hybrid Relay
Others
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