Relays come in various types, including electromagnetic relays, solid-state relays, time relays, thermal relays, and intermediate relays. They are widely used in industrial automation, communication systems, household appliances, and power systems.
Relays offer fast response times, high contact capacity, strong insulation, and can achieve remote control and automation of circuits. Compared to components like fuses or circuit breakers, relays are primarily used for signal transmission and control rather than for direct overload protection.
The relay industry's supply chain involves raw material suppliers (such as copper wire, soft iron cores, and high-quality insulation materials), electronic component manufacturers, and application sectors such as power, communications, and home appliances. According to the publisher, in industrial automation systems, relays are widely used to control the interconnection between switches and sensors; in the telecommunications industry, they handle signal switching in switches and base stations; in household appliances, they are commonly found in the control modules of devices such as air conditioners and washing machines. With the rapid development of the industrial automation industry, global demand for relays is expected to continue growing, particularly in energy, transportation, and manufacturing, where relays will play increasingly significant roles.
According to the publisher, major global relay manufacturers include Omron, Panasonic, Schneider Electric, Fuji Electric, and TE Connectivity.
Vietnam's relay market is growing steadily with the development of industrialization and the electronics industry. The publisher indicates that the Vietnamese government is actively promoting improvements in power network infrastructure and expansion of power facilities. In recent years, multiple power plant and substation projects have been undertaken, leading to an increase in Vietnam's relay market size. However, the relay industry in Vietnam is still in its early stages. Domestic companies mainly focus on the low-end market and assembly, with limited technology and production capabilities. Consequently, Vietnam's relay market is heavily reliant on imports.
According to the publisher's data, in 2023, Vietnam's total relay imports amounted to around USD 170 million. From January to August 2024, relay imports in Vietnam totaled approximately USD 130 million, marking a 14% increase over the same period last year. The market size is expanding rapidly and is expected to continue growing quickly in the coming years.
CRI's analysis reports, Vietnam's main sources for relay imports between 2021 and 2024 include South Korea, China, and Singapore. Key companies exporting relays to Vietnam include LS Electric Co., Ltd, Korea Electric Terminal Co., Ltd, and Sumitomo Electric Wiring Systems, Inc.
Major relay importers in Vietnam include companies in machinery manufacturing and electronics manufacturing. According to the publisher, these include Yazaki EDS Vietnam Co., Ltd, Sumi Vietnam Wiring Systems Co., Ltd, and LS Electric Vietnam Co., Ltd.
With Vietnam's economic development, accelerated industrialization, and growth in related manufacturing sectors, the publisher expects the relay market in Vietnam to continue expanding, with relay imports likely to increase further.
Topics covered:
- The Import and Export of Relays in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Relays in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Relays in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Relays in Vietnam (2024)
- Total Import Value and Percentage Change of Relays in Vietnam (2024)
- Average Import Price of Relays in Vietnam (2021-2024)
- Top 10 Sources of Relays Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Relays in Vietnam and Their Supply Volume
- Top 10 Importers of Relays in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Relays in Vietnam
- How Foreign Enterprises Enter the Relays Market of Vietnam
- Forecast for the Import of Relays in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- LS ELECTRIC CO. LTD
- KOREA ELECTRIC TERMINAL CO. LTD
- SUMITOMO ELECTRIC WIRING SYSTEMS INC.
- YAZAKI EDS VIETNAM CO. LTD
- SUMI VIETNAM WIRING SYSTEMS CO. LTD
- LS ELECTRIC VIETNAM CO. LTD.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | November 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 194 Million |
| Forecasted Market Value ( USD | $ 442.69 Million |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
