Surface Mount Reed Relays Market Research, 2031
The global surface mount reed relays market was valued at $337.8 million in 2021, and is projected to reach $658.9 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.
Surface mount reed relays are a type of electrical relay that utilizes a reed switch enclosed in a small, sealed package that can be mounted directly onto a printed circuit board (PCB). They are commonly used in electronic devices that require low power consumption and high reliability, such as medical equipment, telecommunications devices, and industrial control systems. Surface mount reed relays are typically small in size and feature low contact resistance, high insulation resistance, and high switching speed. They are designed to switch low-level signals and currents, usually in the range of milliamps or lower. Some models may feature multiple switch contacts or higher current ratings, but these are less common.
One of the key advantages of surface mount reed relays is their compact size, which allows them to be easily integrated into densely populated PCBs. They also offer low power consumption, high sensitivity, and high reliability, making them ideal for use in applications where space is limited or where reliability is critical. surface mount reed relays are designed to provide a low-profile, low-power solution for switching signals in electronic circuits. They are often used in applications where space is at a premium and power consumption must be minimized, such as in portable devices or battery-operated equipment.
Surface mount reed relays are designed to be mounted directly onto the PCB using surface mount technology (SMT). This allows for a more compact design and eliminates the need for through-hole components, reducing assembly time and cost. Surface mount reed relays are typically available in a variety of package sizes and pin configurations to accommodate different PCB layouts and design requirements. Surface mount reed relays are an excellent choice for applications that require low power consumption, fast switching speeds, and high reliability. They are widely used in the electronics industry and are available in a variety of package sizes and pin configurations to meet the needs of different design requirements.
The surface mount reed relays industry is expected to witness notable growth during the forecast period, owing to increasing adoption of automation technologies, growth in the renewable energy sector, and increase in demand for miniaturization for medical devices. Moreover, increase in number of electric vehicle (EV) charging stations is expected to provide lucrative opportunities for the growth of the surface mount reed relays industry during the forecast period. On the contrary, low current ratings is the restraints for surface mount reed relays market growth during the forecast period.
The surface mount reed relays market is segmented into Coil Voltage and End User Industry.
On the basis of coil voltage, the market is divided into 3 Volt to 5 Volt, 6 Volt to 12 Volt, and 24 Volt. In 2021, the 24 Volt segment dominated the surface mount reed relays market size, and 3 Volt to 5 Volt segment will acquire major surface mount reed relays market share by 2031.
Based on end user industry, the market is segregated into telecommunication, healthcare, automotive electronics, aerospace and defense, industrial automation, and others. The telecommunication segment acquired the largest share in 2021 and is expected to grow at a significant CAGR from 2022 to 2031.
Region-wise, the surface mount reed relays market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Europe and Asia-Pacific remain significant participants in the surface mount reed relays market forecast.
Country Analysis
Country-wise, the U.S. acquired a prime share in the surface mount reed relays market in the North American region and is expected to grow at a significant CAGR during the forecast period of 2022-2031.
In Europe, Germany, dominated the surface mount reed relays market, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, the UK and Germany is expected to emerge as the fastest-growing country in Europe's surface mount reed relays with a CAGR of 7.94% and 8.30%.
In Asia-Pacific, China is expected to emerge as a significant market for the surface mount reed relays market industry, owing to a significant rise in investment by prime players due to rise in electric vehicles (EVs) charging stations in the region.
By LAMEA region, the Latin America country garner significant market share in 2021. The LAMEA surface mount reed relays market has been witnessing improvement, owing to the growing inclination of companies towards research and development across this region. Moreover, the Middle East region is expected to grow at a high CAGR of 6.15% from 2022 to 2031.
Top Impacting Factors
The surface mount reed relays market analysis is anticipated to expand significantly during the forecast period owing rising adoption of automation technologies, growth in the renewable energy sector, and increase in demand for miniaturization for medical devices. Additionally, during the forecast period, the surface mount reed relays market is anticipated to benefit from an increase in number of electric vehicle (EV) charging stations. On the other hand, growth in the surface mount reed relays market outlook is expected to be restrained by low current ratings for surface mount reed relays.
Historical Data & Information
The global surface mount reed relays market is highly competitive, owing to the strong presence of existing vendors. Vendors of surface mount reed relays market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to surface mount reed relays market opportunity. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
Standex International Corporation, Pickering Electronics Limited, Coto Technology, Inc., Omron Technology, comus international, Cynergy3(Sensata Technologies), KEMET Corporation (YAGEO Group), Hasco Relays and Electronics International Corp., Misensor Tech Co., Ltd., and Reed Relays and Electronics India Limited are the top companies holding a prime share in the surface mount reed relays market. Top market players have adopted various strategies, such as product development, acquisition, innovation, partnership, and others to expand their foothold in the surface mount reed relays market.
- In February 2023, Omron Electronic expanded its already-extensive range of MOSFET relays with two new devices. The new Omron G3VM-401 and G3VM-601 offer high dielectric strength and high operating temperatures for applications such as electric meters and industrial control. The new G3VM-41UR pot is a highly responsive device offering low on-resistance and output capacitance in ultra-compact VSON packaging, aimed at test and measurement applications especially ATE.
- In May 2022, OMRON Corporation launched a new high-voltage DC reed relay ‘G9KB’ for high-capacity household electricity storage systems globally. OMRON aims to contribute to the realization of a decarbonized society by expanding product line-ups, including G9KB, with low power consumption for energy-saving equipment. G9KB safely cuts off the direct current in household storage systems that have been increasing in capacity. It also plays a role in encouraging renewable energy by downsizing products.
- In May 2021, Standex Electronics acquired American Relays, Inc., a US-based company that makes reed switch-based relays. This acquisition helps in strengthening the position in the North American relay market as we will now be able to provide American Relay customers with a wider array of smart relay products and deeper application knowledge.
- In October 2022, Pickering Electronics signed a global distribution deal with Newark, an Avnet Company, which is one of the world’s largest distributors of electronic components. Under the terms of the agreement Farnell, Newark, and Element14 will be stocking over 100 different series of surface mount reed switch from Pickering, ready for immediate delivery to worldwide customers.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surface mount reed relays market analysis from 2021 to 2031 to identify the prevailing surface mount reed relays market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the surface mount reed relays market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global surface mount reed relays market trends, key players, market segments, application areas, and market growth strategies.
Surface Mount Reed Relays Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 658.9 million |
 Growth Rate | CAGR of 6.9% |
 Forecast period | 2021 - 2031 |
 Report Pages | 263 |
 By Coil Voltage |
|
 By End User Industry |
|
 By Region |
|
 Key Market Players | Hasco Relays and Electronics International Corp., Coto Technology, Inc., Reed Relays and Electronics India Limited, Pickering Electronics Limited, comus international, Misensor Tech Co., Ltd., Cynergy3(Sensata Technologies), KEMET Corporation (YAGEO Group), Standex International Corporation, Omron Technology |
Analyst Review
The market for surface mount reed relay is expected to grow significantly in the coming years. The growth of the surface mount reed relay market refers to the expected increase in demand for surface mount reed relays in various industries and applications. This growth is driven by factors such as the increasing demand for electronic devices, growing demand for automotive electronics, advancements in technology, increasing demand for automation, and growing demand for renewable energy.
As the demand for these applications and industries continues to increase, the demand for surface mount reed relays is expected to grow significantly in the coming years. This growth is likely to result in increased production and sales of surface mount reed relays, as well as the introduction of new products and technologies in the market. Overall, the growth of the surface mount reed relay market is expected to be driven by the increasing need for reliable and efficient switching solutions in various industries and applications.
The demand for smaller and more compact electronic devices is driving the need for smaller and more compact components, including surface mount reed relays. Surface mount reed relays are known for their high reliability and durability, which makes them ideal for use in critical applications such as aerospace, defense, and medical equipment. The increasing use of wireless technologies, such as Bluetooth and Wi-Fi, is driving the demand for surface mount reed relays that can handle high frequencies and low power consumption. In addition, the increasing adoption of smart home devices such as smart thermostats, smart lighting, and smart security systems is driving the demand for surface mount reed relays that can be used in these applications.
The Surface Mount Reed Relays Market is expected to grow due to increasing demand for smaller and more compact devices, advancements in various industries, and the increasing popularity of IoT and renewable energy devices.
Telecommunication is the leading application of Surface Mount Reed Relays Market.
Europe and Asia-Pacific are the largest regional market for Surface Mount Reed Relays.
The global surface mount reed relays market was valued at $337.8 million in 2021.
Standex International Corporation, Pickering Electronics Limited, Coto Technology, Inc., Omron Technology, comus international, Cynergy3(Sensata Technologies), KEMET Corporation (YAGEO Group), Hasco Relays and Electronics International Corp., Misensor Tech Co., Ltd., and Reed Relays and Electronics India Limited.
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