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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
HVAC Relay Market Report Snapshots
HVAC Relay Market Regional Analysis
*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.*
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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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