Reed Relay Market Anticipated to Reach $1,125 million by 2030 | ABB, Standex International Corporation, Siemens, Schneider Electric, TE Connectivity, COTO Technology

According to a research report "Reed Relay Market 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), Application (Industrial, Household Appliances, Test & Measurement, Mining, Automotive, EV, Medical, Renewables), & Geography - Global Forecast to 2030" published by MarketsandMarkets, the reed Relay market size is estimated to be USD 352 million by 2022 and is projected to reach USD 1,125 million by 2030, at a CAGR of 15.6%.

https://www.marketsandmarkets.com/Market-Reports/reed-relay-market-9260346.html

A reed switch is an electromagnetic switch that operates using an applied magnetic field. Therefore, a magnet controls the flow of electricity in the circuit. A small glass envelope housing two or more ferrous reeds makes up the switching mechanism. Hence, the reed switches open or close in the presence of a magnetic field. The simple design and function of reed switches offer a lot of room for innovation and different uses. Reed switches used in a reed relay application are just one way of innovating with reed technology.

The reed relay market is dominated by a few globally established players such as ABB (Switzerland), Standex International Corporation (US), Siemens (Germany), Schneider Electric (France), and TE Connectivity, COTO Technology (US), Pickering Electronic Ltd (UK), General Electric (Switzerland), and Towards Relays (Taiwan). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their presence in the global market.

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This research report categorizes the reed relay market based on type, phase, power rating, end user, and geography.
By Voltage

Basic200 V
200 V-500 V
500 V-1 kV
1 kV-7.5 kV
7.5 kV-10 kV
above 10 kV

By Application

Industrial
Household Appliances
Test & Measurement
Mining, Automotive
EV
Medical
Renewables
Others

By Geography

North America
Asia Pacific (excl. China)
China
Europe
RoW

Charging station by application is estimated to be second fastest growing market

The need of charging stations to cater to the growing ev market to boost demand. With an aim to reduce emission, economies around the world are moving towards electric vehicles. According to IEA, publicly available EV charging points were up by nearly 40% in 2021. China has the largest number of publicly available chargers in the world. It accounts to a share of about 85% of the world's fast chargers and 55% of slow chargers. Reed relays find application in EV charging stations as they are used to cut off the charge and to discharge the DC power of the battery in EVs. They are also used in charging plugs between the external charger and the vehicle battery. A rapid growth in the adoption of EVs globally and the need for a robust charging infrastructure, hence, is expected to drive the reed relay market.

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Asia Pacific (excl. China) likely to emerge as the largest Reed Relay market

Asia Pacific (excl. China) held a 25.4% share in the reed relay market in 2021. The region has been segmented, by country, into India, Japan, and the Rest of Asia Pacific. Asia Pacific (excl. China) is expected to hold the largest market share in the reed relay market during the forecast period. Increasing T&D network expansion and industrialization projects in emerging countries such as India and Japan are a few of the key growth drivers of the reed relay market in the region. Massive T&D network expansions and industrialization projects in these countries are the main reasons for the growth of the reed relay market. Economies such as Japan, Indonesia, and India are driving the growth of the reed relay market in Asia Pacific.

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