Relays are used to control circuit by low power signal. It controls several circuits by one single signal. These are the electrically operated switch that uses electromagnet to operate the switch mechanically. They are used in different application including automobiles, military and industrial automation among others. These relays are used to prevent the circuits from overload and faults. When the applied current exceeds the threshold value, the armature is activated by the coil which operates either to open the closed contacts or close the open contacts. Relays helps one circuit to switch over another circuit by separating completely from the first circuit.

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In recent years, the demand for solar energy has shown increasing growth globally. This is due to need of green energy like solar and wind energy. In addition, relays are used in solar applications to protect the circuits from damage and overload of current. Moreover, increase in demand in smart grids is also driving the relays market globally. As the demand of electricity is increasing, smart grids are introduced to distribute the electricity to every region. The smart grids also need relays to protect the electric circuits from overload and faults.

Because relays offer certain advantages over semiconductors, especially in terms of resistance to nuclear radiation, they are finding uses in nuclear reactors and radioactive waste handling machinery. The proliferation of solar energy projects, however, will be a high-impact driver for the global relays market. According to the TMR report, the more the installation of alternative energy projects, the higher will be the demand for relays in the energy sector. Thus, solar, wind, and nuclear energy projects will all push the growth of the global relays market.

The relays market has been segmented as:

Global Relays Market: By Product Type

> Latching relay
> Solid state relay
> Automotive relay
> Overload protection relay
> Electromechanical relay
> Others

With a share of more than 21.0% in 2014, the electromechanical relays segment was the largest in the global relays market.

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Global Relays Market: By Application

> Military
> Industrial automation
> Electronics
> Others

The use of relays in industrial automation applications was the highest. The industrial automation segment accounted for 23.2% of the relays market.

Large Companies are making a mark with product differentiation and by endeavoring to build a robust sales and service network.
Market players that currently boast an appreciable share in the market’s revenue are:

> Coto Technology Inc. (U.S.)
> Comus International Inc. (U.S.)
> StandexMeder Electronics GmbH (Germany)
> Crydom Inc. (U.S.)
> Siemens AG (Germany)
> Alstom S.A. (France)
> Schneider Electric SE (France)
> Omron Corp. (Japan)
> Teledyne Relays Inc. (U.S)
> Fujitsu Ltd. (Japan)

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