Research Nester has published a detailed market report on ‘Surface Mount Reed Relays Market’ for the forecast period, i.e. 2023–2035. This report provides an overview of the market growth over the projected period, market growth drivers, market challenges, market segmentation, regional growth, and a few important market players along with their detailed profiling.
Global Surface Mount (SMD) Reed Relays Market Size:
The global surface mount reed relays market is estimated to grow at a CAGR of ~15% over the forecast period. The market is estimated to garner a revenue of ~USD 1500 million by the end of 2035, up from a revenue of ~USD 380 million in the year 2022. In modern printed circuit board (PCB) manufacturing facilities, SMD technology is becoming the dominant approach for component assemblies as their designs are simpler and have fewer internal components. Surface-mount reed relays are smaller, occupy less board space, and meet the critical board space cost aspects. With the growing development of the electronic industry, the demand for PCBs and, indirectly, reed relays will increase over the projected years. For instance, as per predictions, India’s electronics manufacturing industry is expected to reach nearly USD 520 billion by 2025. Furthermore, between 2021 and 2022, Thailand’s PCB assembly production reached around 29 million units.
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Global Surface Mount Reed Relays Market: Key Takeaways
- Market in Asia Pacific to propel the highest growth
- Automotive segment to garner the highest growth
- Market in Europe to grow at the highest rate
Growing Investment in Renewable Energy and Rising Solar Generation to Boost Market Growth
The global surface mount reed relays market is anticipated to foresee substantial growth over the projected period owing to the increasing solar power generation where solar inverters and power distribution units utilize reed relays, as well as the rising government initiatives, grants, loans, and approvals of various renewable sources of energy, including biomass, geothermal, solar, wind, wave, tidal, and hydroelectric energy worldwide. For instance, the International Energy Agency revealed that clean energy investment worldwide will reach nearly USD 2 trillion per year by 2030, an increase of over 50% compared to 2022. Furthermore, increased global R&D spending, as well as the rapidly growing electronics, telecom, medical, and, particularly, aviation and aerospace industries, are expected to drive market growth, as reed relays use the reed switch as the heart of their switching mechanism and can switch billions of reliable operations (load dependent).
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Global Surface Mount Reed Relays Market: Regional Overview
The global surface mount reed relays market is further segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rapidly Burgeoning Population & Hiking Demand for Smart Home Appliances to Drive the Growth in the Asia Pacific Region
The surface mount reed relays market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. Factors that are majorly estimated to foster the market growth in the region are the presence of a vast pool of population, which is multiplying YOY, as well as the increase in the demand for electronic appliances by the households, which boosts the appliance and consumer electronics industries. In India, the appliances and consumer industry was valued at ~USD 9 billion in 2021, and this valuation is projected to reach ~USD 21 billion by the end of 2025. Moreover, as emerging economies such as China and India are leading the production of automobiles, with the Asia Pacific region holding the largest share of automotive production globally, the regional market demand for SMD reed relays is predicted to surge over the forecast period with the rising demand in the automobile industry.
Rising Automation to Drive Growth in the Europe Region
The surface mount reed relays market in Europe is estimated to garner the highest CAGR by the end of 2035. Surface-mount reed relays market growth in Europe is expected to be driven by massively transitioning technologies as well as rising adoption of advanced, innovative, and automated technology among small and medium-sized industries such as telecom, medical & instrumentation, automotive, and others in the region. The fact about industrial automation is supported by the increasing industrial robot density in Europe’s manufacturing industry. For instance, Germany had the highest industrial robot density in 2020, with ~370 installations per 10,000 employees. Moreover, the rising utilization of reed relays in automatic test equipment to switch small loads, such as sensors and probes, as well as their rising use to isolate the control circuitry from the load being switched, which is important in automatic test equipment applications, is further expected to boost product demand with rising industrial automation in the region.
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https://www.researchnester.com/reports/surface-mount-reed-relays-market/4198 Se espera que los circuitos de la carga que se conmuta, que son importantes en las aplicaciones de equipos de prueba automáticos, impulsen aún más la demanda de productos con la creciente automatización industrial en la región.
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