Surface Mount Reed Relays Market size was over USD 3.17 Billion in 2023 and is likely to reach USD 6.52 Billion by 2036, growing at around 5.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of surface mount reed relays is assessed at USD 3.34 Billion. The development of the electronic industry is expected to increase the demand for surface-mount reed relays. For instance, China has the biggest electronics industry in the world.
The global market of surface mount reed relays is also estimated to witness growth on account of rising demand for cost-effective surface mount reed relays along with the rise in industrial automation. Surface mount reed relays are smaller in size and have very few internal components so takes up less board space and are heavily used in the manufacturing of Printed Circuit Boards (PCBs). For instance, the production of PCB in Taiwan was around 680 million square feet in 2019. Furthermore, in Thailand, the production of printed circuit board assembly was around 29 Million Units during 2021-2022. Such a factor is therefore estimated to boost the market segment in the coming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.7% |
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Base Year Market Size (2023) |
USD 3.17 billion |
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Forecast Year Market Size (2036) |
USD 6.52 billion |
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Regional Scope |
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End-user (Automotive, Aerospace & Defence, Healthcare, IT & Telecom, Consumer Electronics)
The global surface mount reed relays market is segmented and analyzed for demand and supply by end-user industry into automotive, aerospace & defense, healthcare, IT & telecom, consumer electronics, and others. Out of these segments, the automotive segment is estimated to garner the largest market share over the forecast period. This can be attributed to the growing adoption of reed relays in the production of automobiles. Surface Mount Reed Relays are used to protect vehicle from overheating by using thermal reed sensors and it also offers single switching with help of reed relays. As per data, the total production of automobiles till mid-2022 was around 22.93 million vehicles. Additionally, growing production of electric vehicles and increasing electric vehicle charging stations are also expected to drive the growth of this segment in the forthcoming time. Further, increasing foreign direct investment along with various government policies is expected to boost segment growth in the coming years.
Volt (3 Volt, 5 Volt, 9 Volt, 12 Volt)
The global surface mount reed relays market is segmented and analyzed for demand and supply by volt into 3 volts, 5 volts, 9 volts, 12 volts, and others. Low-reed relays are used in commercial and industrial applications. The 5 volt surface mount reed relay segment is anticipated to hold the largest share in the forecast period owing to its utilization in various industries. Surface mount reed relays with a voltage of 5 volts are ideally fitted in for automated test equipment, instrumentation, and telecommunication requirements. The amphere turn sensitivity of the switches used can identify the dielectric strength restrictions of surface mount reed relays despite the high voltage dry reed switches.
Our in-depth analysis of the global market includes the following segments:
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By Volt |
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By End User Industry |
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APAC Market Statistics
The market in Asia Pacific is projected to hold the largest market share by the end of 2036. This can be accredited to the presence of strong automobile infrastructure along with the rising growth of the electronics industry. According to data, in 2021, India's exports of electronic goods stood at around USD 11 billion. Furthermore, the demand for electronic products in India is projected to grow to USD 400 billion by the end of 2025, up from USD 33 billion in the year 2020. Furthermore, in China, the manufacturing industry is one of the high-growth industries and is anticipated to result in the development of the industrial automation process and digitization of manufacturing phases. Such factors are estimated to foster market growth in the APAC region. Besides this, Asia Pacific region have its hold over the semiconductor production as well which can drive the market in future. The rising demand for surface mount reed relay in various end use industries including automotive, IT, pharmaceuticals, food and beverage packaging and others are indicating towards this.
Europe Market Forecast
Further, the market in Europe is estimated to gain significant growth during the forecast period, owing to the growing adoption of surface mount technology amongst small and medium-sized businesses in the region. Moreover, increasing industrial automation and rising demand for surface-mount reed relays from various industries such as IT & telecom, military, and defense are also estimated to fuel the growth of the surface-mount reed relays market in the European region. The adoption of surface mount reed relays is projected to increase the business in European Countries including Germany, France, the UK, Russia, and Spain. Industrial automation and a wide range of switch configurations are other reasons driving the growth of the surface mount reed relays market in this region.
North American Market Forecast
Additionally, it is anticipated that North America will continue to rise significantly in both terms of market revenue and market share during the forecast period. This is a result of manufacturers placing a greater emphasis on product innovation and higher levels of funding for R&D projects in this area. The advancement of cutting-edge technology will also accelerate this market's growth rate.
Author Credits: Abhishek Verma
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