MOSFET Relay Market Share, Size, Trends, Industry Analysis Report, By Voltage (Below 200V, 200-500V, 500-1kV, Above 1kV); By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 118
- Format: PDF
- Report ID: PM3205
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global MOSFET relay market size and share was valued at USD 235.12 million in 2022 and is expected to grow at a CAGR of 9.0% during the forecast period. With the increasing focus on reducing carbon emissions and promoting sustainable transportation, governments around the world are offering incentives and subsidies to encourage the adoption of EVs, which is further expected to drive the growth of the MOSFET relay market. Despite supply chain snags and the ongoing COVID-19 epidemic, electric car sales hit a new high in 2021. According to the International Energy Agency, Sales nearly doubled to 6.6 million, representing a sales share of approximately 9%, compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million.
The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces MOSFET relay market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry.
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In 2021, the sales share of electric vehicles rose by 4 percentage points. According to the Net Zero Emissions by 2050 Scenario, there will be more than 300 million electric vehicles on the road by 2030, and they will make up 60% of all new car sales. Their sales share must rise by less than 6% percentage points annually to be on track with the Net Zero Scenario. This will fuel the growth and demand for the product in upcoming years.
Most test and measurement/instrumentation devices use MOSFET relays. There is a rising need for testing and measurement equipment in a variety of industries, including electronics, healthcare, and automotive. These intricate applications need a lot of assembled parts, excellent reliability, and absolute precision. They are appropriate for use with measuring tools such as oscilloscopes, multimeters, semiconductor test boards, data loggers, and automated test equipment (ATE). Like the case with reed relays, there will be a greater demand for test and measurement equipment as there is for electronic devices.
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Industry Dynamics
Growth Drivers
The increasing adoption of electric vehicles is expected to drive the growth of the MOSFET relay market as these relays are used in various EV applications, such as battery management and charging systems. With advancements in technology, the demand for high-performance equipment is increasing. MOSFET relays offer high performance, high isolation voltage, and low power consumption, which is expected to drive the growth of the MOSFET relay market.
MOSFET relays are known for their low power consumption and high efficiency, which is expected to drive the growth of the market. The increasing adoption of renewable energy sources, such as solar and wind power, is expected to drive the growth of the MOSFET relay market as these relays are widely used in renewable energy applications. MOSFET relays are more used in industrial automation applications, such as power transmission and distribution, renewable energy, and transportation.
Report Segmentation
The market is primarily segmented based on voltage, application, and region.
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By Voltage |
By Application |
By Region |
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Above 1kV accounted for the largest market share in 2022
The growing adoption of renewable energy is expected to drive the growth of the 1kV voltage segment of the MOSFET relay market as they are used in various renewable energy applications, such as solar and wind energy. With the advancements in technology, the demand for high-performance high-voltage equipment is increasing. They offer high performance and high isolation voltage, which is expected to drive the growth of the 1kV voltage segment of the MOSFET relay market.
They are more used in high-voltage applications, such as power transmission and distribution, renewable energy, and industrial automation. This is expected to drive the growth of the 1kV voltage segment of the MOSFET relay market.
Test and Measurements are expected to hold a significant revenue share
The test and measurement segment is expected to have a positive impact on the growth of the MOSFET relay market. They are widely used in test and measurement equipment, such as oscilloscopes, signal generators, and power meters, due to their high switching speeds, low power consumption, and high isolation voltage. The growing demand for portable test and measurement equipment is expected to drive the growth of the test and measurement segment in the upcoming years. MOSFET relays are small and consume low power, making them ideal for portable test and measurement equipment.
With the advancements in technology, the demand for high-performance test and measurement equipment is increasing. MOSFET relays offer high performance, which is expected to drive the growth of the test and measurement segment of the market. The 1kV voltage segment is expected to have a significant impact on the growth of the market as the industrial automation industry increasingly uses them for high-voltage applications.
The demand in Asia Pacific is expected to witness significant growth
Asia Pacific is projected to experience a significant growth rate owing to the rapid expansion of the automotive, test & measurement, and medical industries in developing nations like Japan, India, New Zealand, and the Philippines. India plays a significant role in the expansion of the market in this region due to the development in manufacturing and industrial sectors. In Asia Pacific, India is also the fastest-growing market for MOSFET relays. Due to the existence of significant manufacturers like OMRON and Panasonic, the MOSFET relay industry in Japan is also expanding steadily.
Competitive Insight
Some of the major players operating in the global market include TE Connectivity, Standex Electronics, Panasonic Corporation, Schneider Electric, Omron Corporation, Wago, Relpol S.A, Broadcom, Vishay Intertechnology, Sensata Technology, Toward Relays, Littlefuse, Toshiba, Teledyne Defense, Celduc, Chordn Electric and Carlo Gavazzi.
Recent Developments
- In January 2023, Panasonic Holdings Corporation announced that it had applied compressed sensing technology, which has been used in space exploration and medical care, to create the hyperspectral imaging technology with the highest sensitivity in the world. This technology enhances the accuracy of image analysis and recognition while enabling the identification of minute color differences—small differences that are difficult to see with the unaided eye. It also maintains the usability of a conventional color camera.
- In December 2022, Panasonic Vietnam introduced its "Live Green and Wellness with Gen G" campaign to encourage young people and other members of the public to adopt an environmentally friendly and completely healthy lifestyle, actively promoting the well-being and sustainable growth of Vietnam. A range of online and offline initiatives are part of the campaign, which aims to increase Vietnamese youths' understanding of environmental issues and the effects of climate change as well as their empowerment and capacity building.
MOSFET Relay Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 256.09 million |
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Revenue Forecast in 2032 |
USD 557.12 million |
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CAGR |
9.0% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments Covered |
By Voltage, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
TE Connectivity, Standex Electronics, Panasonic Corporation, Schneider Electric, Omron Corporation, Wago, Relpol S.A, Broadcom, Vishay Intertechnology, Sensata Technology, Toward Relays, Littlefuse, Toshiba, Teledyne Defense, Celduc, Chordn Electric and Carlo Gavazzi. |
Gain profound insights into the 2024 MOSFET relay market with meticulously compiled statistics on market share, size, and revenue growth rate by Polaris Market Research Industry Reports. This thorough analysis not only provides a glimpse into historical trends but also unfolds a roadmap with a market forecast extending to 2032. Immerse yourself in the comprehensive nature of this industry analysis through a complimentary PDF download of the sample report.
FAQ's
The global MOSFET Relay market size is expected to reach USD 557.12 million by 2032.
Key players in the MOSFET relay market are TE Connectivity, Standex Electronics, Panasonic Corporation, Schneider Electric, Omron Corporation, Wago, Relpol S.A, Broadcom, Vishay Intertechnology.
Asia Pacific contribute notably towards the global MOSFET relay market.
The global MOSFET relay market expected to grow at a CAGR of 9.0% during the forecast period.
The MOSFET relay market report covering key segments are voltage, application and region.
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