The Asia Pacific Surface Mount Reed Relays Market would witness market growth of 7.1% CAGR during the forecast period (2022-2028).
A longer product life cycle is feature of reed relays. The electricity in a reed switch, present in a reed relay, is entirely contained in the lead wires and reed. Hence it does not have a failure mechanism associated with mechanical wear. Reed switches only have internal components that bend. Certain electrical loads have operating lives of over 50 years and 1 billion switching cycles. As a result, reed switch technology is still in high demand.
Surface mount reed relay producers are enhancing their products in an effort to keep up with the shifting demands of the market. The adoption of electric vehicles has been increasing rapidly over the past few years. As a result, many nations have increased their investments in developing electric vehicle charging stations. Electric cars can go between 250 and 300 kilometers on a fully charged battery. 16–32 Amps may be required to achieve the quickest charging time.
For high-current charging, the battery's contacts must be properly bonded. For high-current charging, the contacts inside the connectors must match up since they must comply with standards and provide a perfect lock-in to avoid charging problems. In order to promote accurate connection mating, reed sensors and relays and a magnet are added to the charging cable's end in electric vehicle charging stations. By doing this, the charging loop will get the correct locking signal to start charging.
Due to the region's quick industrialization and urbanization, Asia Pacific's economic condition has improved. Some of the developing countries in the region, such as South Korea and India, experienced a swift transformation in their economies as well as an increase in the region's GDP. People are therefore increasing their expenditures on upscale goods and cutting-edge technology. The consumer electronics industry is growing mostly due to the widespread usage of inexpensive smartphone devices and the declining costs of service plans, notably in Asia Pacific. In various Asia Pacific nations, demand for smart miniature devices is rising due to the adoption of digitalization and the region's improving economic conditions.
The China market dominated the Asia Pacific Surface Mount Reed Relays Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $39,964.2 Thousands by 2028. The Japan market is estimated to grow a CAGR of 6.4% during (2022 - 2028). Additionally, The India market would experience a CAGR of 7.7% during (2022 - 2028).
Based on End User, the market is segmented into Telecommunications, Automotive Electronics, Industrial Automation, Healthcare, Aerospace & Defense and Others. Based on Coil Voltage, the market is segmented into 24 Volt, 6 Volt to 12 Volt and 3 Volt to 5 Volt. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Surface Mount Reed Relays Market is Projected to reach USD 476.1 Million by 2028, at a CAGR of 6.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Yageo Corporation (KEMET Corporation), Sensata Technologies Holdings PLC, Standex International Corporation, Comus International, Hamilton Electronics Pvt. Ltd., Misensor Tech Co., Ltd., Hasco Relays and Electronics International Corp., Pickering Electronics Limited (Pickering Group Ltd), and Reed Relays and Electronics India Limited.
By End User
By Coil Voltage
By Country
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