Covid-19 Impact on Micro Power Relay Market to Witness Huge Growth by 2027

• Micro power relays is a smaller version of standard relays. Micro power relays have inbuilt small resistors that protect electric devices from high voltage spikes
• Micro power relays are small in size and they receive power from a battery source, due to which they are largely used in small-sized electric devices. Moreover, these relays are light in weight and durable. They offer reliable performance.
• Micro power relays are used in applications such as head lamp controls, electric appliances, starter motors, and radiator fans
• Micro power relays are used in various sectors such as automotive, consumer goods, electrical & electronics (E&E), and telecommunications

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Rise in Demand for Micro Power Relays in Automotive Sector

• Automotive has emerged as an attractive sector for investments by organizations across the globe. In this sector, micro power relays are significantly used in head lamp controls, radiator fans, starter motors, interior lights, sun roofs, seat controls, and wiper controls
• Micro power relays are largely used in automobile applications, as they are light in weight, small in size, and resistant to heat, moisture, and vibrations. They are capable to carry high power.
• Furthermore, the demand for automobile is increasing among end-users across the globe, owing to technological advancements and integration of multiple safety features, for which micro power relays are required. Hence, the demand for micro power relays is increasing in the automotive sector.
• Thus, increase in the demand for automobiles among end-users is expected to drive the global micro power relay market during the forecast period

Electricals & Electronics Segment to Witness Lucrative Opportunities

• Based on end-use industry, the global micro power relay market can be segmented into automotive, electricals & electronics, telecommunications, and others
• Micro power relays are significantly used in electric appliances to control electric loads, as they offer high performance and are capable to withstand high power
• Hence, rise in the demand for micro power relays for use in electric and electronic applications is anticipated to drive the global micro power relay market during the forecast period

North America to Lead Global Market

• In terms of region, the global micro power relay market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is anticipated to dominate the global micro power relay market throughout the forecast period, owing to increase in automation and ongoing technological advancements in the semiconductor industry in the region
• The micro power relay market in North America and Europe is expected to expand at a substantial rate during the forecast period. However, the market in Latin America and Middle East & Africa is estimated to expand at a moderate rate during the forecast period.

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Key Players Operating in Global Market

The global micro power relay market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological advancements and expansions to meet the risen demand for micro power relays.