Relay Market Surge Towards Solid Growth by 2030
Relay market is anticipated to grow from an estimated USD 10.12 billion in 2024 to USD 15.20 billion by 2030, at a CAGR of 7.0% during the forecast period. With the increasing penetration of renewable energy sources, new challenges emerge, especially in the electric grid, in the electrical grid. Relay systems stabilize the grid through power variation management, uninterrupted connections of various...
The Rise in the Relay Market: Increasing Adoption of Industrial Automation
The increasing adoption of industrial automation systems across various industries is driving the need for relays in motor control, protection, and switching applications. The expansion of smart manufacturing, robotics, and automated production lines is further amplifying the need for reliable and efficient relay solutions.
According to a latest research, The relay market is expected to grow from...