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Relay market to bounce back from 2012 growth drop

Posted: 13 Jun 2013     Print Version  Bookmark and Share

Keywords:solid-state relay  electromechanical  market analysis 

The global market for electromechanical and solid-state relays dropped 3.6 per cent in 2012, after two consecutive years of double-digit growth. The market fell from Rs.18,206.52 crore ($3.35 billion) to Rs.679.35 crore ($125 million), as stated by a report of IMS Research, a division of IHS Inc.

The graph represents the first decline since 2009, when well over a quarter of market revenues were lost. However, the drop in 2012 was far smaller in both magnitude and duration than in 2009. Growth is expected to return to all regional markets in 2013, which will result in global revenues increasing by 5.2 per cent to reach Rs.19,239.13 crore ($3.54 billion).

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Regional market growth for electromechanical and solid-state relays (Percentage growth 2011-2015)
Source: IHS

The report, which measures automotive, industrial (socket mount), solid-state and PCB mount relay designs, found that the markets for these products retreated in all major regions in 2012. The Europe-Middle East-Africa (EMEA) territory showed the largest decline, down 6.2 per cent, which far exceeded the 2.9 per cent fall experienced in the Americas. But the largest reversal occurred in Asia-Pacific, where very high growth of more than 24 per cent in 2011 was succeeded by a 2 per cent loss overall in 2012.

"Asian-based relay manufacturers were reporting domestic sales growth of more than 40 per cent in Asia during 2011, which was far higher than in recent years," said Robert Carter, switchgear analyst at IHS. "However, as industry levels cooled in 2012, particularly in China, demand fell so that this unprecedented growth was then followed by a decrease of up to 15 per cent for these same companies."

Even so, the market downturn won't last long.

"Growth is expected to return in every regional market in 2013," Carter said. "After this point, stabilised annual growth of around 2 to 3 per cent in both EMEA and the Americas, along with a modest 6 to 8 per cent expansion in Asia-Pacific, is expected to cause the market for relays to reach almost Rs.24,456.52 crore ($4.5 billion by 2017)."

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