COVID-19 impact: Micro Power Relay Market Anticipated to Achieve Lucrative Growth by 2027

Micro Power Relay Market: Introduction

Micro power relays is a smaller version of standard relays. Micro power relays have inbuilt small resistors that protect electric devices from high voltage spikes
Micro power relays are small in size and they receive power from a battery source, due to which they are largely used in small-sized electric devices. Moreover, these relays are light in weight and durable. They offer reliable performance.
Micro power relays are used in applications such as head lamp controls, electric appliances, starter motors, and radiator fans
Micro power relays are used in various sectors such as automotive, consumer goods, electrical & electronics (E&E), and telecommunications

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Rise in Demand for Micro Power Relays in Automotive Sector

Automotive has emerged as an attractive sector for investments by organizations across the globe. In this sector, micro power relays are significantly used in head lamp controls, radiator fans, starter motors, interior lights, sun roofs, seat controls, and wiper controls
Micro power relays are largely used in automobile applications, as they are light in weight, small in size, and resistant to heat, moisture, and vibrations. They are capable to carry high power.
Furthermore, the demand for automobile is increasing among end-users across the globe, owing to technological advancements and integration of multiple safety features, for which micro power relays are required. Hence, the demand for micro power relays is increasing in the automotive sector.
Thus, increase in the demand for automobiles among end-users is expected to drive the global micro power relay market during the forecast period

Electricals & Electronics Segment to Witness Lucrative Opportunities

Based on end-use industry, the global micro power relay market can be segmented into automotive, electricals & electronics, telecommunications, and others
Micro power relays are significantly used in electric appliances to control electric loads, as they offer high performance and are capable to withstand high power
Hence, rise in the demand for micro power relays for use in electric and electronic applications is anticipated to drive the global micro power relay market during the forecast period

North America to Lead Global Market

In terms of region, the global micro power relay market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Asia Pacific is anticipated to dominate the global micro power relay market throughout the forecast period, owing to increase in automation and ongoing technological advancements in the semiconductor industry in the region
The micro power relay market in North America and Europe is expected to expand at a substantial rate during the forecast period. However, the market in Latin America and Middle East & Africa is estimated to expand at a moderate rate during the forecast period.

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Key Players Operating in Global Market

The global micro power relay market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological advancements and expansions to meet the risen demand for micro power relays. Moreover, manufacturers are entering into partnerships for the development of innovative products.

Key players operating in the global micro power relay market are:

ABB
HONFA
Miunske
Omron Corporation
Phoenix
Siemens
Schneider Electric
Panasonic Corporation
IDEC Corporation
O E N India Ltd.
Song Chuan Precision Company Ltd.
HELLA GmbH & Co. KGaA

Global Micro Power Relay Market: Research Scope

Global Micro Power Relay Market, by Type

Closed Type
Open Type

Global Micro Power Relay Market, by Application

Head Lamp Controls
Electric Appliances
Starter Motors
Radiator Fans
Others

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Global Micro Power Relay Market, by End-use Industry

Automotive
Electricals & Electronics
Telecommunications
Others

Global Micro Power Relay Market, by Region

North America
- U.S.
- Canada
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia & CIS
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

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