The Business Research Company’s latest report Relays Global Market Report 2020 covers Relays market drivers, Relays market trends, Relays market segments, Relays market growth rate, Relays market major players, and Relays market size. The report provides in-depth analysis of the impact of COVID-19 on the Relays industry, along with revised market numbers due to the effects of the coronavirus.
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The global relays market reached a value of nearly $29,265.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 6.0% since 2015. The market is expected to decrease from $29,265.8 million in 2019 to $27,416.7 million in 2020 at a rate of -6.3%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.8% from 2021 and reach $34,423.4 million in 2023.
The report
covers the Relays market’s segments-
1) By Type:
Latching Relay, Solid State Relay, Automotive Relay, Electromechanical Relay,
Others
2) By
Application: Military, Industrial Automation, Electronics, Others
3) By Voltage:
Relays < 60 Volts, Relays > 60 Volts
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