CHICAGO, Dec. 19, 2022 /PRNewswire/ — Reed Relay Market Is expected to grow from USD 1.125 Million by 2030, at a CAGR of 15.6% according to a new report by MarketsandMarkets™. A reed switching is an electromagnetic switch which operates with an applied magnetic force. A magnet controls the flow and distribution of electricity within the circuit. The switching mechanism is made up of a small envelope that contains two or more ferrous rods. Reed switches can be opened or closed in the presence of magnetic fields. Simple design and function, reed switches are easy to adapt for different purposes. Reed technology is not limited to reed switches.
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1 KV–7.5 KV is expected to result in the segment growing at second fastest rate in the Reed Relay Market
Market growth is accelerated by high frequency and efficient performance. These high-voltage reed relay switch modules are suitable for industry and can be found in voltages up to 7.5kV. This module is used to switch between high-voltage signals or high-frequency applications. The ability to handle a large load or current is another characteristic that could be used to characterize reed relays. Reed relays can be small and fast to switch low-level signals. They also have no wear parts, which makes them last a long time. They excel in their ability to provide high-efficiency performance in stand-off voltage and insulation resistance.
The second fastest-growing market for charging station is by application
There is a growing demand for charging stations in order to support this market. Electric vehicles are becoming more popular in order to reduce emissions. According to IEA in 2021, the number of publicly accessible EV charging points rose by nearly 40%. China It has the largest amount of publically available chargers worldwide. It has a share of approximately 85% and 55% respectively of the fast chargers worldwide. Reed relays are used to charge and discharge EV batteries. They can also be used to charge the plugs that connect the vehicle’s battery and an external charger. The Reed Relay Market is expected to grow due to the rapid adoption of EVs worldwide and the need for a strong charging infrastructure.
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Asia Pacific (excl. China) likely to emerge as the largest Reed Relay Market
Asia Pacific (excl. ChinaIn 2021, a 25.4% stake in the Reed Relay Market was held by ). This region is divided by country. India, Japan, and all the rest Asia Pacific. Asia Pacific (excl. China) is expected to hold the largest market share in the Reed Relay Market during the forecast period. Increasing T&D network expansion industrialization projects in emerging countries such as India and Japan The Reed Relay Market’s key growth drivers are listed below. Massive T&D network expansions and industrialization projects in these countries are the main reasons for the growth of the Reed Relay Market. These economies include Japan, Indonesia?, India Reed Relay Market growth is being driven by Asia Pacific.
ABB (Switzerland), Standex International Corporation (US), Siemens (Germany), Schneider Electric (France), and TE Connectivity, COTO Technology (US), Pickering Electronic Ltd (UK), General Electric (Switzerland), and Towards Relays (TaiwanThe key players in the global Reed Relay Market are ().
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