Surface Mount Reed Relays Market Trends

Growth Drivers

Rising Trend of E-Vehicles – The properties of surface mount reed relays such as high frequency, high voltage, and suitability for surface mount soldering make them more suitable for operation in the automotive sector. The rising demand for electric vehicles is expected to boost the market segment of the Surface Mount Reed Relay market. According to data from the International Energy Agency, in 2021, sales of electric vehicles stood at about 6.6 million and electric vehicles accounted for about 10% of worldwide car sales in the same year, which is four times the market share in 2019.
Growth in Telecom Industry – Surface mount reed relays have the properties of high insulation resistance and are capable of switching voltages, which makes them more suited for medical equipment and telecommunications. Therefore, the growth of the telecom industry is estimated to result in an increased volume of surface-mount reed relays in the market. As per recent data, in the Union Budget 2022-23, around USD 11 billion was allocated to the Department of Telecommunication of India.
Increased Research and Development Expenditure – As per data by the World Bank, research and development expenditure in proportion to gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018.
Growth of Appliances and Consumer Electronics Industry – As per data, in the Asia Pacific region, the appliances and consumer industry was valued at around USD 9 billion in 2021 and is estimated to reach a valuation of USD 21 billion by the end of 2025.
Rising Demand for Medical Equipment – In the Asia Pacific region, Foreign Direct Investment (FDI) in the medical devices sector grew by 98% YoY, i.e., USD 301 million in 2020, up from USD 151 million in 2019, as per data.

Challenges

Less Awareness about the Benefits of Surface Mount Reed Relays in the Market – Not many people across the globe are aware of the properties and benefits of surface mount reed relays. This as a result can hamper the market growth in the forecast period.
Shortage of Raw Material for Manufacturing of Surface Mount Reed Relays
Not Suitable for Very High Currents

Surface Mount Reed Relays Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	5.6%
Base Year Market Size (2024)	USD 3.37 billion
Forecast Year Market Size (2037)	USD 6.84 billion
Regional Scope	North America (U.S. & Canada) Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of BMI resins is evaluated at USD 3.52 billion.

The surface mount reed relays market size was valued at USD 3.37 billion in 2024 and is expected to reach USD 6.84 billion by 2037, expanding at around 5.6% CAGR during the forecast period i.e., between 2025-2037. The growth of the telecom industry and the rise of e-vehicles will boost the market growth.

North America industry is predicted to account for largest revenue share of 35% by 2037, driven by advancement of cutting-edge technology.

The major players in the market are Standex International Corporation, Pickering Electronics Limited, Reed Relays and Electronics India Limited, Coto Technology, Inc., Hamilton Electronics Pvt. Ltd., Comus International, TE Connectivity Corporation, SANYU ELECTRIC, INC (SANYU SWITCH CO., LTD.), RS Components & Controls (I) Ltd., Misensor Tech Co., Ltd

Surface Mount Reed Relays Market Trends