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ELECTRONICS & SMART DEVICES

Surface Mount Reed Relays Market Analysis by Volt (3 Volt, 5 Volt, 9 Volt, 12 Volt and Others); and by End-User Industry (Automotive, Aerospace & Defense, Healthcare, IT & Telecom, Consumer Electronics and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Standex International Corporation, a global market leader in electronics components manufacturing, today announced the launch of the new MK31 series, which expands its line of ultraminiature surface mount (SMD) read sensors. The new ultraminiature design is 20% smaller than the competition and capable of switching at least 50 million reliable operations.
  • Pickering Electronics Limited, today launched the high-voltage, long-life dry read relay under the unique Series 67 range. The launch adds high power switch to Pickering's portfolio that are suitable for applications including cable testing and electro solar.

Global Surface Mount Reed Relays Market Size, Forecast, and Trends Highlights Over 2022 - 2031

The global surface mount reed relays market is estimated to garner a moderate revenue by the end of 2031 by growing at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 3 billion in the year 2021. The market is estimated to grow on the back of continuous demand for high voltage reed relays that are reliable and suitable for surface mount soldering for various applications in the electronics industry. The development of the electronic industry is expected to increase the demand for surface mount reed relays. According to recent data, India's electronics manufacturing industry is projected to reach ~USD 520 billion by the end of 2025.

Surface-Mount-Reed-Relays-Market

The global surface mount reed relays market is also estimated to witness growth on account of rising demand for cost effective surface mount reed relays along with rise in industrial automation. Surface Mount Reed Relays are smaller in size and have very few internal components so takes up less board space and are heavily used in the manufacturing of Printed Circuit Boards (PCBs). For instance, production of PCB in Taiwan was around 680 million square feet in 2019. Furthermore, in Thailand, production of printed circuits board assembly was around 29 Million Units during 2021-2022. Such a factors, is therefore estimated to boost the market segment in coming years.

Global Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Trend of E-Vehicles – The properties of surface mount reed relays such as high frequency, high voltage and suitable for surface mount soldering make them more suitable for operation in the automotive sector. The rising demand for electric vehicles is expected to boost the market segment of the Surface Mount Reed Relay market. According to data from the International Energy Agency, in 2021, sales of electric vehicles stood at about 6.6 million and electric vehicles accounted for about 10% of worldwide car sales in the same year, which is four times the market share in 2019.
  • Growth of Telecom Industry – Surface mount reed relays have the properties of high insulation resistance and are capable of switching voltages, which makes them more suited for medical equipment and telecommunications. Therefore, growth of telecommunication industry is estimated to result in increased volume of surface mount reed relays in the market. As per recent data, in the Union Budget 2022-23, around USD 11 billion was allocated to the Department of Telecommunication of India.
  • Increased Research and Development Expenditure – As per data by the World Bank, research and development expenditure in proportion with gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.
  • Growth of Appliances and Consumer Electronics Industry – As per data, in India, appliances and consumer industry was valued around USD 9 billion in 2021 and is estimated to reach valuation of ~USD 21 billion by the end of 2025.
  • Rising Demand for Medical Equipment – In India, Foreign Direct Investment (FDI) in medical devices sector grew by 98% YoY, i.e., ~USD 301 million in 2020, up from ~USD 151 million in 2019, as per data.

Challenges

  • Less Awareness about the Benefits of Surface Mount Reed Relays in the Market
  • Shortage of Raw Material for Manufacturing of Surface Mount Reed Relays
  • Not Suitable for Very High Currents

The global surface mount reed relays market is segmented and analyzed for demand and supply by end-user industry into automotive, aerospace & defense, healthcare, IT & telecom, consumer electronics and others. Out of these segments, automotive segment is estimated to garner the largest market share over the forecast period, owing to the growing adoption of reed relays in production of automobiles. As per data, total production of automobiles till mid-2022 was around 22.93 million vehicles. Further, increasing foreign direct investment along with various government policies is expected to boost segment growth in the coming years.

Global Surface Mount Reed Relays Market Regional Synopsis

Regionally, the global surface mount reed relays market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. This can be accredited to the presence of strong automobile infrastructure along with rising growth of electronics industry. According to data, in 2021, India's exports of electronic goods stood at around USD 11 billion. Furthermore, the demand for electronic products in India is projected to grow to ~USD 400 billion by the end of 2025, up from ~USD 33 billion in the year 2020. In addition, in China, the manufacturing industry is one of the high growth industries and is anticipated to result in the development of industrial automation process and digitization of manufacturing phases. Such factors are estimated to foster the market growth in the APAC region.

Further, the market in the Europe is estimated to gain the significant growth during the forecast period, owing to the growing adoption of surface mount technology amongst small and medium-sized businesses in the region. Moreover, increasing industrial automation and rising demand for surface mount reed relays from various industries such as IT & telecom, military and defense are also estimated to result in growth of surface mount reed relays market in the European region.

Surface-Mount-Reed-Relays-Market-Scope

The global surface mount reed relays market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global surface mount reed relays market includes the following segments:

By Volt

  • 3 Volt
  • 5 Volt
  • 9 Volt
  • 12 Volt
  • Others

By End-User Industry

  • Automotive
  • Aerospace & Defense
  • Healthcare
  • IT & Telecom
  • Consumer Electronics
  • Others
 

Top Featured Companies Dominating the Global Surface Mount Reed Relays Market

  • Standex International Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Pickering Electronics Limited
  • Reed Relays and Electronics India Limited
  • Coto Technology, Inc.
  • Hamilton Electronics Pvt. Ltd.
  • Comus International
  • TE Connectivity Corporation
  • SANYU ELECTRIC, INC (SANYU SWITCH CO., LTD.)
  • RS Components & Controls (I) Ltd.
  • Misensor Tech Co., Ltd

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