Top 3 Drivers of the Global Industrial Relays Market | Technavio

January 18, 2018

LONDON–(BUSINESS WIRE)–#Automation—Technavio
market research analysts forecast the global
industrial relays market to grow at a CAGR of around 7% during the
forecast period, according to their latest report.

The report further segments the global industrial relays market by
product type (electromechanical relays, solid state relays, hybrid
relays, reed relays, and general-purpose relays), by end-user (process
industries and discrete industries), and by geography (the Americas,
APAC, and EMEA).

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Technavio analysts highlight the following three market drivers that are
contributing to the growth of the global industrial
relays market:

Increasing importance of smart grid systems
Increasing number of global solar projects
Increasing adoption of PLCs in industries

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Increasing importance of smart grid systems

Electricity systems across the world face many challenges such as aging
infrastructure, constant growth in demand, the incorporation of variable
renewable energy sources and electric vehicles, the need to improve the
security of supply, and the need to lower carbon emissions. Smart grid
technologies provide ways to overcome these challenges and provide a
cleaner energy supply that is more efficient, affordable, and
sustainable.

According to a senior analyst at Technavio for automation
research, “The expansion of smart grid industries across the globe is
anticipated to boost the adoption of industrial relays during the
forecast period. The need for relays is expected because they are useful
in protecting the circuit against voltage overload and short circuits.
The growing importance of smart grids to confirm efficient customer
delivery and reduce carbon emission is predicted to drive the growth of
industrial relays market.”

Increasing number of global solar projects

The relays market is primarily driven by the increasing demand for solar
projects across the globe. With the increasing need for eco-friendly and
green energy, the demand for relays is expected to project tremendous
growth in the global market. High capacity power relays are used to
safely cut off the high DC voltages used in some applications.

The decrease in the cost of solar technologies has led to their
increased implementation across geographies. The solar projects across
the world are expected to increase during the forecast period. This is
further expected to increase the adoption of industrial relays in
high-temperature conditions.

Increasing adoption of PLCs in industries

The three biggest drawbacks to a traditional relay logic system are
dependability, flexibility, and diagnostics. With the advent of PLCs,
the control panels can be updated to overcome the above issues of a
relay. To address the dependability issues, the traditional relays are
replaced with newer and more robust versions in the control panel.

Flexibility issues in the PLCs can be handled by providing correct
product specifications and installations. Product specifications that
permit alterations to the function of the panel without changes to the
product and wiring include standardized sockets.

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