Safety Relays Market - Forecasts from 2023 to 2028

The global safety relays market is estimated to grow at a CAGR of 7.10% to reach US$880.689 million in 2028 from US$544.814 million in 2021.

The main market driver is the safety relays extensive end-use applications across numerous end-use industrial verticals, boosting the demand globally. With the safety of industrial operations and workers in mind, strict rules like the OSHA and Machinery Directive are significantly increasing market demand. Industry 4.0's increased industrial automation, rising sales in the automotive industry, urbanization's rapid population rise, and the development of manufacturing activities are expected to propel the worldwide safety relay market's expansion over the forecast period.

Increasing Utility in Automobiles

Safety relays in automobiles are used in harnesses and box modules in the back and front, passenger and engine sections, body control, powertrain, roof, seat, door, and fan modules of a car. The US Department of Energy reports that sales of new light-duty plug-in electric vehicles, including all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), doubled from 308,000 in 2020 to 608,000 in 2021. 73% of all plug-in electric car sales in 2021 comprised EV sales. While PHEV sales increased 138% over 2021, EV sales increased by 85% between 2020 and 2021.

Increasing Adoption of Industrial Automation

Industrial automation is anticipated to increase significantly during the forecast period as people become more inclined to accept digital technology. Rising labor costs fuel the market demand during the projection period and the growing desire to lower the risk of accidents at industrial sites. Automation will play a crucial role in assisting manufacturing facilities to increase productivity levels and decrease waste. Quick-acting safety systems are being installed to safeguard priceless machinery against damage and manufacturing workers from potential harm.

Increasing Incidences of Work Injuries

The U.S. Bureau of Labour Statistics reports that 5,190 fatal work injuries were registered in the country in 2021, an 8.9% rise from 4,764 in 2020. The fatal work injury rate increased from 3.4 per 100,000 full-time equivalent (FTE) workers in 2020 to 3.6 in 2019, above the 3.5 pre-pandemic figure from that year. The proliferation of more sophisticated automation and machine technologies in industrial settings might result in extremely risky working conditions and significantly impact the growth of safety relays in industry automation. For instance, the SRL7 6A-rated 7-pole force-guided safety relay from TE Connectivity includes reinforced insulation between the contact circuits and has two normally closed and five normally open poles.

Growing Environmental Concern

the growing worries over the depletion of fossil fuels and increased research into renewable energy sources are further boosting the market's potential for growth during the forecast period. For instance, as per the International Renewable Energy Agency, with a total installed capacity of 310.6 GW at the end of 2021, China has the world's greatest onshore wind power capacity, making up 40% (310.6 GW) of the total installed capacity. It will be the largest with a 48% (27.7 GW) global share by the end of 2021 in installed offshore wind power capacity. The nation also has plans to construct the 44.3 GW largest wind farm in the world. The wind farm is expected to operate between 75 and 185 kilometers offshore on the Taiwan Strait. The project's construction is anticipated to begin in 2025.

Rising Energy Consumption

Moreover, power distribution networks continue to expand in size and complexity as energy consumption rises rapidly. Electricity demand has increased dramatically, especially in industry. For instance, in May 2021, ABB introduced REX610, a new member of the Relion product family developed to facilitate safe, intelligent, and environmentally friendly electrification. Incorporating ABB's legacy of programmable multifunctional relays and protection algorithms, REX610 creates a solution that offers the best protection for all common power distribution applications, making it easier to protect grids, industrial processes, and people.

Asia Pacific is Expected to Grow Considerably

The largest markets for industrial safety relays are China and India, which can be attributed to the expanding construction, automotive, and energy sectors. India is one of the countries with the greatest energy and power sectors, and it has a long history of deadly explosions in the power sector. The governments in the APAC region were forced to pass OHS legislation due to this and numerous other incidents. These nations are also promoting the use of locally produced goods and lowering import rates, driving growth rates in the manufacturing sectors and proportionally raising the risk of industrial accidents. Safety relay demand is fueled by Chinese government rules and standards implemented to increase worker safety. The development of the safety relays market in China is mostly due to expansion in the automotive sector and the expanding use of industrial automation.

Market Developments:

• Texas Instruments (TI) unveiled a new lineup of solid-state relays in May 2022, comprising isolated drivers and switches that are automotive-qualified and deliver improved dependability to make electric vehicles (EVs) safer.
• A pre-driver IC for automotive applications such as brushless motors for electric power steering systems and electric brakes, "TB9083FTG," was first shipped as test samples in September 2021 by Toshiba Electronic Devices & Storage Corporation. In January 2022, Toshiba shipped its last samples, and in December 2022, it began mass production.
• In September 2022, the PNOZ m C0, an easy-to-program standalone safety relay that offers customers a compact option for smaller machines, was added by Pilz to their PNOZmulti 2 product selection.
• In April 2022, Siemens introduced SIRIUS 3SK safety relays, provided by Allied Electronics & Automation, and are flexible, reliable, affordable, and user-friendly solutions for a wide range of autonomous safety applications.
• In January 2023, Pilz revealed a configurable safety controller at the SPS show in Germany that is only 22.5mm broad but can monitor up to four safety functions, such as e-stops, safety gates, light curtains, and two-hand controls.

Market Segmentation:

By Relay Configuration

• Single Channel Relays
• Dual Channel Devices

By Application

• Light Curtains
• Magnetic Relays
• Safety Mats
• Emergency Stop Buttons
• Others

By End-User Industry

• Transportation
• Construction
• Chemical
• Power
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others