Fact Report : HVAC Relay Market 2018 - 2026 | Control & Switchgear Electric Limited, Eaton Corporation, Siemens AG, General Electric, ABB Ltd.

Press Release – 10 Aug 2018

Research and Development News --

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Latest Update "HVAC Relay Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" with Industries Survey | Global Current Growth and Future.

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- HVAC Relay Market – Overview

Relays are a type of an electrical circuit or switch that control the opening or closing of a different electrical circuit either electronically or electromagnetically. HVAC relay is a major component of HVAC control system. It is used to control the operation of a HVAC system. HVAC relay is described as a switch that is generally used to control the operation of small capacity compressors, fan motors of condensers, evaporators, and cooling tower motors. It is used to switch on or off an HVAC equipment. In general, HVAC relays control large voltage equipment with low power control signal, which actuates or stops the relay as per design or arrangement of the relay circuit.

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Increase in demand for HVAC systems in the automotive industry for automotive climate control is expected to drive the demand for HVAC relay, as the demand for automobiles is increasing across the globe. Rise in construction of non-residential buildings and growth in investments in the sector are also driving the HVAC relay market. Implementation of stricter government regulations and policies regarding energy efficiency and savings is expected to shift the focus toward ‘green buildings’ and smarter HVAC systems. This, in turn, is anticipated to boost the market for HVAC relay. However, high initial setup costs of HVAC systems are likely to hamper the market in the near future.

This report analyzes and forecasts the market for HVAC relay at the global and regional level. The market has been forecast based on revenue (US$ Mn) from 2018 to 2026, considering 2017 as the base year. The study includes drivers and restraints of the global HVAC relay market. It also covers impact of these drivers and restraints on demand for HVAC relay during the forecast period. The report also highlights opportunities in the HVAC relay market at the global and regional level.

The global HVAC relay market has been segmented as follows:

- HVAC Relay Market, by Type

• Electromagnetic Relay
• Solid State
• Thermal Relay
• Hybrid Relay
• Others

- HVAC Relay Market, by Application

• Automotive
• Industrial
• Commercial
• Residential

- HVAC Relay Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • Russia & CIS
  • France
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa (MEA)
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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- Key Takeaways

• The electromagnetic relay segment accounts for prominent share of the market due to the lower cost and simplicity of working of these relays
• Increase in demand for automobiles and rise in demand for HVAC systems in residential, commercial, and industrial segments is likely to drive the HVAC relay market in the near future
• In terms of application, the industrial segment is anticipated to expand at a significant pace during the forecast period
• Residential segment is the major application segment of the HVAC relay market
• Asia Pacific is anticipated to dominate the market during the forecast period
• The market in Asia Pacific is expected to expand at a faster pace than that in other regions during the forecast period

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