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HVAC Relay Market Size, Share, Industry Analysis, Global Trends, Revenue Analysis And Regional Forecasts, 2021-2028

The increasing demand for passenger and commercial vehicles is expected to drive the global HVAC reply market says Fortune Business Insights in a report titled “HVAC Relay Market Size, Share And Global Trend By Type (Electromagnetic Relay, Solid State Relay, Thermal Relay, Hybrid Relay), By Application(Automotive, Industrial, Commercial, Residential), And Geography Forecast Till 2026.”The rising construction activities are predicted to contribute significantly to the demand for HVAC systems which will, in turn, enable growth in the global HVAC reply market.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/hvac-relay-market-100513

Top Players Overview:

  • TE Connectivity Limited
  • Control & Switchgear Electric Limited
  • Eaton Corporation
  • Siemens AG
  • General Electric
  • ABB Ltd.
  • Littlefuse Inc.
  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • Rockwell Automation Inc.
  • Toshiba Corporation
  • Schneider Electric
  • OMRON Corporation
  • Omega Engineering
  • Celduc Realis.

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Launch of New High Capacity 23A Model by Omran Will Aid Growth

Omron Corporation, an electronics company based in Kyoto, Japan, introduced a new extra high capacity 23A model for home appliance, industrial and HVAC applications. The new high current replay is capable of switching the heaviest current loads and features a low profile of just 16.7mm. The introduction of G2RL-1A-E2-CV-HA is predicted to boost the global HVAC systems revenue owing to the reinforced coil-contact insulation that can withstand a 10 kV Impulse voltage. Additionally, the acquisitions of key companies are expected to contribute to HVAC system’s growth. For instance, Japanese heating, ventilation, and air-conditioning(HVAC) major Shinryo Corporation announced the acquisition of Suvidha Engineers India Pvt Ltd for an undisclosed sum. Accordingly, the name Suvidha Engineers will be changed to Shinryo Suvidha Engineers Pvt Ltd. This provides the Japanese company to enter the Indian market with its products.

Rising Construction Of Commercial Buildings Will Fuel Demand for HVAC Systems

The increasing demand for passenger and commercial vehicles is predicted to uplift the HVAC relay shares. As all companies in the automotive industry provide HVAC in their vehicles. This factor is likely to facilitate growth of the global HVAC replay market. The rising construction of commercial buildings is fueling demand for indoor air quality management and HVAC systems and boosting the global HVAC reply growth. Furthermore, the increasing number of hospitals, hotels, educational institutions and installation of HVAC is also predicted to aid growth of the global HVAC reply market. However, the high cost involved in the installation and maintenance of HVAC systems is a factor restricting the growth of the global HVAC reply. In addition, the lifetime costs of an HVAC system include monthly operating expenses, preventive maintenance, and replacement of filters and other equipment. These factors together add up to the cost and can act as a market restraint for the global HVAC relay market.

Key Market Driver – Rise in demand for passenger vehicles and commercial vehicles

Key Market Restraint – High cost involved in installing HVAC system and its maintenance

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Growing Automotive Industry Will Enable Growth in North America

Geographically, the global HVAC relay market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global HVAC relay market in Asia Pacific is expected to grow at a significant during the forecast period, owing to the growing automotive industry in emerging nations such as China, India, South Korea, and Indonesia. North America Followed by Europe is predicted to lead the global HVAC relay market during the forecast period due to the rise in business aircraft and commercial vehicles mainly in countries like USA, UK, France, and Germany. Additionally, rapid urbanization and increasing infrastructure expenditure are expected to boost the HVAC relay market in Latin America and the Middle East.

Key Segmental Overview:

  1. By Type
  • Electromagnetic Relay
  • Solid State Relay
  • Thermal Relay
  • Hybrid Relay
  • Others
  1. By Application
  • Automotive
  • Industrial
  • Commercial
  • Residential
  1. By Geography
  • North America (The USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and The Rest of the Middle East & Africa)

Key Industry Developments

  • In April 2019, Omron Electronic Components extended its G2RL Relay family with the addition of a new extra high capacity 23A model. This relay is designed for switching the heaviest current loads in home appliances, industrial and HVAC applications.
  • In October 2018, Japanese heating, ventilation, and air-conditioning(HVAC) major Shinryo Corporation announced the acquisition of Suvidha Engineers India Pvt Ltd for an undisclosed sum. Accordingly, the name Suvidha Engineers will be changed to Shinryo Suvidha Engineers Pvt Ltd. This provides the Japanese company to enter the Indian market with its products.
  • In January 2019, Shorehill Capital LLC announced that it has acquired a majority ownership stake in Indian based Functional Devices, who is a maker of relays, power supplies, transformers, sensors, enclosures, and wireless devices for HVAC building and lighting controls and energy management industries.

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Major Table of Content For HVAC Relay Market:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global HVAC Relay Market Analysis, Insights and Forecast, 2026
  6. North America HVAC Relay Market Analysis, Insights and Forecast, 2026
  7. Europe HVAC Relay Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific HVAC Relay Market Analysis, Insights and Forecast, 2026
  9. The Middle East and Africa HVAC Relay Market Analysis, Insights and Forecast, 2026
  10. Latin America HVAC Relay Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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