Hvac Relay Market

HVAC Relay - Global Market Outlook (2019-2027)

4.3 (84 reviews)
Published: June 2020 ID: SMRC19313
4.3 (84 reviews)
Published: June 2020 ID: SMRC19313

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global HVAC Relay Market is accounted for $3.56 billion in 2019 and is expected to reach $7.04 billion by 2027 growing at a CAGR of 8.9% during the forecast period. Increase in demand for automobiles and growing awareness about the lower costs of HVAC systems operations are the major factors propelling the market growth. However, high-costs and complicated process of HVAC system installation are hampering the market growth.

HVAC systems play a key role in an assortment of industries such as plastics manufacturing, food processing, construction, and chemical production. End-user industries are seeking advanced HVAC systems for streamlining their production while complying with stringent government regulations on energy efficiency and greenhouse gas emissions. The increasing innovation in the HVAC systems market for the development of energy-efficient solutions is estimated to fuel HVAC relays market growth. Technological headways in the development of HVAC systems are creating ample opportunities for players operating in the HVAC relay market with demand for novel switches to be used in advanced systems surging.

Based on the application, the industrial segment is going to have a lucrative growth during the forecast period owing to the expansion in the industrial sector, especially in developing and under-developed countries. This, in turn, is anticipated to drive the demand for HVAC systems and HVAC relays in the application segment.

By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rise in demand for HVAC systems in application segments in the region, as Asia Pacific is also a global leader in the HVAC industry. Furthermore, the market in the Asia Pacific is expected to expand at a significant pace during the forecast period, primarily due to the rise in demand and production of automobiles in the region along with the rise in infrastructure development and per capita disposable income in the region.

Some of the key players profiled in the HVAC Relay Market include ABB, Celduc Realis, Control Switchgear Electric, Eaton, General Electric, Hitachi, Littlefuse, Mitsubishi Electric, Omega Engineering, OMRON Corporation, Rockwell Automation, Schneider Electric, Siemens, TE Connectivity, and Toshiba Corporation.

Types Covered:
• Electromagnetic Relay
• Hybrid Relay
• Solid State
• Thermal Relay

Applications Covered:
• Automotive
• Commercial
• Industrial
• Residential

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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