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Global HVAC Relay Market Share, Size, Growth, Analysis: By Source: Solid State Relay, Electromagnetic Relay, Thermal Relay, Hybrid Relay; By Application: Residential, Automotive, Commercial, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global HVAC Relay Market Size
The global HVAC relay market is projected to grow at a CAGR of 6.80% in the forecast period of 2024-2032. The development of the market is aided by stringent government regulations for air quality management and improved power management systems.
HVAC Relay Market Outlook
- The APAC region is witnessing significant market growth due to the rising installation of robust HVAC systems.
- HVAC relays contribute to building systems meeting sustainability criteria by improving energy efficiency and operational effectiveness.
- HVAC relays play a crucial role in managing and switching between different power sources seamlessly.
HVAC Relay Market Growth Rate
HVAC stands for Heating, Ventilation, and Air Conditioning. These HVAC relay systems are different systems for temperature control and air quality control purposes. HVAC relays are open or closed circuits that are used to control the flow of electricity to different components of the HVAC system.
The flourishing automobile sector and rising construction activities have led to increased demand for HVAC systems for indoor air quality management, fuelling the HVAC relay market development. Governments around the world are adopting the trend of green building, which has improved energy management systems. This will propel the demand for smart HVAC relays to increase the energy efficiency of the building and enhance the development of the market. The need for the replacement of ageing HVAC components, including relays, in existing installations provides a continuous demand for new relays. Maintenance and upgrades to older systems also contribute significantly to market growth.
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Key Trends and Developments
Development of smart relays; compact design and modular systems; integration with IoT; and rapid technological developments are the major trends impacting the HVAC relay market expansion
March 14th, 2024
TE Connectivity announced its plans to relocate its headquarters from Switzerland to Ireland to optimise its global footprint and enhance its operational efficiency.
January 29th, 2024
Teledyne Relays, a renowned provider of relay solutions, launched its new Multi-Function Timer product series, demonstrating its dedication to offering innovative and dependable solutions for the industrial automation sector.
January 10th, 2024
Hitachi Energy announced its acquisition of COET to enhance its capabilities and offerings in the rapidly growing sectors of electric mobility, rail transportation, and industrial applications.
June 24th, 2023
Eaton, an HVAC relay provider, announced plans to expand its production capacity in India by building a new manufacturing plant in Puducherry.
Development of smart relays
As the demand for HVAC systems keeps rising for various end-use applications, manufacturers have developed smart HVAC relays.
Compact design and modular systems
As space becomes a premium in industrial and commercial environments, the demand for compact and modular smart relays is rising.
Integration with IoT (Internet of Things)
Smart relays are increasingly being integrated with IoT technologies, allowing for remote monitoring and control of various devices and systems.
Rapid technological developments to offer lucrative opportunities
Manufacturers have started developing AI-enabled sensors to make HVAC systems more efficient and reduce energy consumption.
HVAC Relay Market Trends
As the demand for HVAC systems continues to grow across various end-use applications, manufacturers have responded by developing smart HVAC relays to meet new performance and efficiency standards. Smart HVAC relays play a crucial role in optimising energy use as they can intelligently manage the activation and deactivation of system components like fans, compressors, and pumps. These smart relays offer an extended lifespan to the system as they break the circuit immediately if they detect a fault, protecting the equipment from any further damage.
Market players are expanding their production capacities to enhance their presence in the global and regional markets. Eaton announced that it intends to expand its production capacity by building a new manufacturing plant in Puducherry, India in June 2023. This expansion reflects Eaton's commitment to meeting growing market demands and enhancing its operational capabilities.
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HVAC Relay Industry Segmentation
“HVAC Relay Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Source
- Solid State Relay
- Electromagnetic Relay
- Thermal Relay
- Hybrid Relay
Market Breakup by Application
- Residential
- Automotive
- Commercial
- Industrial
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
HVAC Relay Market Share
Electromagnetic relay accounts for a major share due to its proven performance in heavy-duty applications and cost-effectiveness
The electromagnetic relay is expected to hold the largest market share owing to lower costs and wide usage for its capability of handling large amounts of output. The hybrid relay is a combination of both static-relay and electro-mechanical relay. It utilises both the advantage of minimal voltage drop with high durability and removing interference generation. This segment is expected to experience rapid growth during the forecast period.
Solid state relays are anticipated to gain significant growth in the forecast period as SSRs use semiconductors to switch circuits without moving parts, offering faster switching times, higher durability, and better resistance to vibrations and shocks.
Automotive segment continues to gain sizeable growth due to the rising sales of vehicles
The automotive segment holds a major share of the HVAC relay market. It is expected to show rapid development due to the increasing sales of vehicles and rising demand for advanced air quality management systems in vehicles. The improving living standards are expected to further propel the market expansion.
The commercial sector is expected to gain robust growth in the HVAC relay market in the coming years. This sector includes a wide range of facilities such as offices, retail stores, schools, hospitals, and other public and business establishments. The extensive use of HVAC systems in these settings to ensure comfort, proper air quality, and temperature control drives significant demand for HVAC relays.
Leading Companies in HVAC Relay Market
Key players are investing in research and development to improve the reliability and durability of their relays
TE Connectivity Corporation is a global leader in manufacturing industrial technologies such as connectors, relays, fibre optics, sensors, energy, and power, among many others.
Eaton Corporation is an international power management company, founded in 1911 in the United States, and is engaged in manufacturing energy-efficient products and services.
Hitachi, Ltd. is a multinational conglomerate corporation headquartered in Tokyo, Japan, and offers products and services related to digital systems, green energy, and mobility.
ABB Ltd., founded in 1988, is a global technology company that specialises in robotics, power, heavy electrical equipment, and automation technology areas.
Other market players include Mitsubishi Electric Corporation, among others. Market players are heavily investing in research and development to innovate and improve their relay offerings.
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HVAC Relay Market Analysis by Region
The demand for HVAC relays in the Asia Pacific region is growing significantly. The region is experiencing rapid urbanisation with a significant rise in the construction of residential, commercial, and industrial buildings. Countries like China, India, and Southeast Asian nations are seeing extensive infrastructure development, which requires robust HVAC systems to ensure proper climate control. Large parts of the region experience extreme weather conditions, ranging from very hot summers to cold winters, which increases the need for effective HVAC systems, subsequently boosting the demand for HVAC relays.
The HVAC relay market is also anticipated to grow at a significant rate in the North American region. In response to environmental concerns and energy consumption issues, both the United States and Canada have implemented stringent energy efficiency regulations for HVAC systems which encourage the adoption of advanced technologies including HVAC relays that help reduce energy use and operational costs.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Source |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global HVAC Relay Market Analysis
8.1 Key Industry Highlights
8.2 Global HVAC Relay Historical Market (2018-2023)
8.3 Global HVAC Relay Market Forecast (2024-2032)
8.4 Global HVAC Relay Market by Source
8.4.1 Solid State Relay
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Electromagnetic Relay
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Thermal Relay
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Hybrid Relay
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.5 Global HVAC Relay Market by Application
8.5.1 Residential
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Automotive
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Commercial
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Industrial
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.6 Global HVAC Relay Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TE Connectivity Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Eaton Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 ABB Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Hitachi, Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Mitsubishi Electric Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global HVAC Relay Market: Key Industry Highlights, 2018 and 2032
2. Global HVAC Relay Historical Market: Breakup by Source (USD Million), 2018-2023
3. Global HVAC Relay Market Forecast: Breakup by Source (USD Million), 2024-2032
4. Global HVAC Relay Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global HVAC Relay Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global HVAC Relay Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global HVAC Relay Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America HVAC Relay Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America HVAC Relay Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe HVAC Relay Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe HVAC Relay Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific HVAC Relay Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific HVAC Relay Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America HVAC Relay Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America HVAC Relay Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa HVAC Relay Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa HVAC Relay Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global HVAC Relay Market Structure
Key Questions Answered in the Report
The market is expected to grow at a CAGR of 6.80% during the period 2024-2032.
The market is driven by the growing automotive industry and the increasing application of HVAC systems for better air quality management.
The manufacturing of smart HVAC systems for better power efficiency and the utilisation of AI-enabled sensors for automation of the system are key trends in the market.
The regional markets for HVAC relay include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The different sources in the market include solid state relay, electromagnetic relay, thermal relay, and hybrid relay.
The applications available in the market include residential, automotive, commercial, and industrial.
The major players in the market are TE Connectivity Corporation, Eaton Corporation, ABB Ltd., Hitachi, Ltd., and Mitsubishi Electric Corporation, among others.
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