Electronic Control Relays Continue Growth in Asia
Research Note by Paul Sundberg, Analyst, IHS, Inc.
More than 53.8 million electronic control relays were sold in 2013, with 13.1 million classified as measuring & monitoring relays. According to the latest IHS study, a trend towards more efficient control of electrical systems in industrial applications continues to influence growth, particularly in developing regions.
Electronic control relays sold to building automation applications in 2013 accounted for the largest shipment share, with an estimated 19.2% of the world market. More efficient methods of heating, cooling, and general environmental control are more readily implemented in new construction, and has occurred more frequently in the developing regions in recent years.
Although the EMEA market accounted for 49% of the estimated 13.1 million unit total for measuring & monitoring relays in 2013, it is predicted to grow the slowest to 2018, at a CAGR of 3.1%. This growth rate is 1.5% less than is forecast for the Americas and 2% less than Asia. This is due mainly to the extended economic weakness seen in the Eurozone region and the lower construction activity there.