Surface Mount Reed Relays Market Segmented By Volt such as 3 Volt, 5 Volt, 9 Volt, 12 Volt
Industry: Semiconductor Electronics
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP32510
The surface mount reed relays market was valued at US$ 3.0 Bn in 2020 and is expected to grow at a CAGR of 6.5% during the forecast period 2021-2031. Increasing demand for reliable and high voltage reed relays that can be suitable for pick and place and surface mount soldering, is expected to propel demand over the coming years.
The market is projected to witness significant growth due to several factors such as the growing need for reliable and cost-effective surface mount reed relays, rise in industrial automation, changing manufacturing landscape, and rising availability of cost-effective reed relays along with technological advancements.
Continuous developments and implementation of new technologies such as surface mounting technology and modern printed circuit board (PCB) manufacturing facilities in surface mount reed relays are creating growth opportunities. New surface mount reed relays standards enable higher performance and promise convenience for users, as well as simplicity for designers and manufacturers.
Surface mount reed relays offer a wide range of applications such as automated test equipment (ATE), general-purpose electronic test equipment, battery-powered devices, portable defibrillators, test and measurement, high frequency, among other applications.
Growth in industrial automation and growing usage of relay modules low-profile over-molded reed relays are major factors fueling the demand for surface mount reed relays across regions. It also offers various features such as high insulation resistance, high voltage reed relay, external magnetic shield and others. The reliability of such features drives the growth of the surface mount reed relays market.
The COVID-19 pandemic outbreak has disrupted many industries, including the surface mount reed relays market. As the stage of COVID-19 evolves across the world, technological developments have taken initiatives to stop the spread of COVID-19 disease.
The surface mount reed relays market is facing a slowdown as a result of the COVID-19 epidemic, including the effects triggered by self-isolation guidelines, manufacturer’s moving supply chains away from China, and shortage of raw materials for manufacturing surface mount reed relays and other such components.
However, according to estimates, the surface mount reed relays market declined during Q1-Q2, 2021, and is now estimated to recover and return to growth by Q4, 2021.
China will be the largest market for surface mount reed relays, due to the strong presence of semiconductor manufacturers and providers in the region. This is attributed to the increase in demand for surface mount reed relays for various end-users such as automotive, pharmaceuticals, food & beverage packaging, electrical, consumer electronics, among others.
The East Asia & South Asia semiconductor industry is at the expansion stage, and this is expected to continue due to favorable macroeconomic indicators and strong support from governments in countries such as China India, and Japan, among others, in both the region.
The manufacturing sector is one of the high-growth sectors in China, and this is expected to continue owing to the rise in industrial automation, digitization of manufacturing processes, advancements in semiconductor technology across various end-use industries, backed by government initiatives to attract more foreign investments.
The adoption of surface mount technology is projected to rise significantly across small and medium-sized businesses in European countries such as Germany, France, the UK, Spain, Russia and others. Industrial automation and a wide range of switching configurations are key trends driving demand for surface mount reed relays across Europe.
Demand for surface mount reed relays is also increasing across various other industries such as military and defense, IT & Telecommunication, and automotive, among others, in the European region.
Some of the leading manufacturer of surface mount reed relays include
The introduction of new surface mount reed relay products and strategic partnerships are major strategies followed by key players in the market, to increase their business revenue. Surface mount reed relay manufacturers are focusing on innovation in products to improve their market shares.
For instance, March2020, Pickering Electronics launched smallest HV reed relay. This new product is mainly used for automatic test equipment, medical equipment, and general purpose electronic test equipment applications.
By Volt
By End-use Industry
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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