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...
Relay Market Size, Industry Growth Rate, and Projections for 2022-2030
The global relay market size is estimated to be USD 9.0 billion in 2022 and is projected to reach USD 14.7 billion by 2030, at a CAGR of 6.3% during the forecast period. The relay market is driven by the rising investments in renewable energy resources. According to the International Energy Agency (IEA) forecast, the total global renewable capacity is expected to increase by 1,220 GW between 2019...