Relay Sockets: Market Outlook
Relay sockets are integral parts of an electric circuit that facilitates mounting of relay. Relay sockets provide an interface between the circuit and the relay. They accept electromechanical switches, which controls the flow of electricity in one circuit by variation of current in one circuit.
Relay sockets vary on the basis of the number of pins per blade, socket receptacle, mounting type, access type and terminal type, and differ as per requirements. Additionally, choosing a relay socket also varies depending on dielectric strength, electrical rating, temperature range and insulation resistance.
Some relay sockets are designed to be shatter proof and flame retardant for critical applications. Relay sockets can be equipped with mechanical or electrical indicators.
Relay Sockets: Market Dynamics
Growing energy transition towards renewable energy and grid modernization is anticipated to boost the demand for relay sockets market significantly. Relay sockets play an important role in electricity infrastructure like in power substations for an efficient, smooth and reliable electricity distribution.
According to International Energy Agency (IEA), renewable power capacity is projected to expand by 50% by 2024, driven by surging solar PV installations. China is expected to lead the renewable energy transformation, while Europe is anticipated to grow on an already installed renewable energy base. This is anticipated to drive the demand for relay sockets market.
Outdated power grid across a number of countries are anticipated to be replaced and upgraded resulting in grid modernization. Regions like North America and Europe are due to witness grid modernization on a large scale, which is anticipated to significantly drive the relay sockets market in these regions.
COVID-19 pandemic crisis is expected to have a low to moderate impact on the demand for relay sockets market. Although the pandemic has affected industries across manufacturing and service sectors, relay sockets are an integral and are small components in any respective industry. Hence the market growth for relay sockets is anticipated to not be affected as prominently as other industrial component products.
Also, power generation is one of the moderately impacted industries due to Covid pandemic crisis, as it is a critical and essential service of an economy. The comparatively lower impact on power industry is anticipated to bode well for relay sockets market in a wider perspective.
Relay Sockets Market: Regional Outlook
Growing clean and green energy initiatives are anticipated to be primary relay sockets market drivers across Europe and North America. The regions’ outdate electricity grid infrastructure and the need for overhaul is also expected to create significant opportunities for relay sockets manufacturers.
Asia Pacific on the other hand, is anticipated to grow at a robust pace in the relay sockets market, owing to the growing urbanization in China and India, and the subsequent up-gradation of rural electricity grid infrastructure. Latin America and Middle East are anticipated to grow at a moderate pace, in the global relay sockets market during the forecast period.
Relay Sockets Market: Market Participants
Some of the key market participants identified in the Relay Sockets market across the globe are:
- Altech Corporation
- Amphenol PCD
- Carlo Gavazzi Inc.
- Cynergy 3
- Curtis Industries
- Finer Relays, Inc.
- TE Connectivity
- Red Lion Controls
- Littlefuse Inc.
- Omron Automation and Safety
- Phoenix Contact
Brief Approach to Research
The research report presents a comprehensive assessment of the Relay Sockets market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Relay Sockets market segments such as geographies, application and industry.
The report covers exhaustive analysis on
- Relay Sockets Market Segments
- Relay Sockets Market Dynamics
- Relay Sockets Market Size
- Relay Sockets Supply & Demand
- Relay Sockets Current Trends/Issues/Challenges
- Relay Sockets Competition & Companies involved
- Relay Sockets Technology
- Relay Sockets Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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 Relay Sockets market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Relay Sockets market segments and geographies.
Relay Sockets Market Segmentation
- Single Relay Sockets
- Multiple Relay Sockets
Number of Poles
- Surface Mount
- Through Hole
- Energy & Power
- Screw Terminal
- Solder Terminal
- Quick Connect/Disconnect