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HVAC Relay Market Growth Opportunities, Share Demand and Forecast to 2025

Author : Rahul Sankrityayan | Published Date : 2019-09-10 

Global Market Insights added a new report on global HVAC Relay Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.

HVAC Relay Market size will witness growth on account of surging demand for air conditioning and heating systems across residential and commercial establishments along with strong economic growth. Ability to operate both on AC and DC, robustness, fast operation and reliability, are some of the key parameters enhancing product adoption. Furthermore, growing efforts toward optimum use of electricity along with exponentially soaring energy demand will further complement the industry landscape.

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Hybrid HVAC relay market is set to witness robust growth owing to its ability to effectively work on both as an electromagnetic and solid-state relay. Low power dissipation along with ability to switch AC load at zero current associated to solid state relays are some of the indispensable factors propelling the product demand. In addition, increasing penetration of electronic components in electrical appliances to control the switching of a high-voltage circuit by low-voltage signals will boost the product demand.

Positive outlook toward automotive sector along with surging demand for air conditioning and heating in vehicles will drive the automotive HVAC relay market during forecast period. For instance, in 2018, as per Statista, 78.7 million cars were sold globally, witnessing a growth of over 43% from 2015. Moreover, growing per capita income along with increasing number of road transport vehicle will further accelerate the product adoption.

Growing investments toward construction of green building infrastructure on account of stringent government regulations and policies pertaining to energy management will stimulate the residential HVAC relay market. Rapid population growth & urbanization along with increasing purchasing power parity are some of the prominent factors influencing the investments toward residential sectors. Furthermore, growing access to electricity in addition to declining costs has made the use of HVAC appliances more affordable over the time, which in turn will positively influence the product demand.

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Asia Pacific HVAC relay market is anticipated to witness robust growth owing to improving living standards coupled with ongoing investments toward development of commercial & industrial sector. For instance, in 2017, China has witnessed foreign investment worth of USD 11.5 billion toward development of commercial real estate sector. Further, growing demand for light and heavy vehicles along with increasing purchasing power parity will complement the business outlook.

Key players operating in the global HVAC relay market are Control & Switchgear Electric Limited, TE Connectivity Limited, Siemens AG, General Electric, Eaton Corporation, ABB Ltd., Littlefuse, Hitachi Ltd., Mitsubishi, Rockwell Automation, Schneider Electric and Toshiba Corporation.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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