According to the Research Report on China's Electromagnetic Relay Market Competition, due to the impact of trade friction and COVID-19, the global relay market size declined slightly in 2019 and 2020. However, with the recovery in 2021, the relay market is expected to return to growth, reaching 46.387 billion yuan by the end of the year and 52.358 billion yuan in 2024.

In terms of the status of the Chinese relay market, according to the data, in recent years, the domestic relay market experienced a slight decline in 2019 but picked up again in 2020, reaching 22.949 billion yuan, with a year-on-year growth of 7.0%. With the continuous development of new energy vehicles, the demand for HVDC relays is expected to increase substantially, driving the overall rapid growth of the relay market. As the main production base of relays in the world, China's market currently accounts for 54% of the global market, and this proportion continues to increase. In addition, the domestic epidemic ended earlier, and the economic recovery speed is much faster than that of foreign markets, so the market share is expected to continue to rise.

So, what are the main development trends for relays?

1.Increased demand for single relays

As consumers’ demand for automobile safety, comfort, and entertainment continues to improve, the automobile industry is promoting the development of electronics. Automatic seat adjustments, HUD, and other functions are increasingly common,  an increase in the demand for relays. In the past, about 30 relays were used on average for passenger cars, with a total value of around 120-150 yuan. Currently, high-end models require nearly 70 relays. The development of automobile electrification greatly enhances the market potential for automobile relays. At the same time, with the gradual development of high-voltage technology for new energy vehicles, the demand for relays is expected to increase significantly. High-voltage charging technology has higher requirements for high-voltage DC relays, which will increase the added value of the industry.

2.The market continues to consolidate

With the continuous development of the new energy industry, the demand for high-voltage DC relays continues to grow. The overall technology is more demanding than traditional relays, offering higher profits. As the relay downstream high industry booms, only a handful of advanced domestic enterprises (Hongfa, BYD, and Shanghai West Ai, etc.) have the production capacity. High-voltage charging technology is gradually permeating, and as future technical barriers increase, market concentration is expected to improve.

The ES SHOW is jointly organized by the Shenzhen Electronic Chamber of Commerce, ReisEX Expo Group, and the Shenzhen Huaqiangbei International Maker Center Co., Ltd., and organized by Weihuiyuan Exhibition (Shenzhen) Co., Ltd. ES SHOW is a professional commercial exhibition focused on the comprehensive display of various electronic components and materials required for the design and production of electronic products. It serves as a procurement platform for components and materials for professional purchasing personnel from all kinds of electronic products production and processing companies. ES SHOW will be held simultaneously with the NEPCON Asia Electronic Production Equipment & Microelectronics Industry Exhibition, the S-FACTORY EXPO Smart Factory & Automation Technology Exhibition, and the China Automotive Industry Technology Exhibition. Through the display of electronic components and materials, electronic manufacturing machinery and equipment, intelligent factory and automation equipment, automotive electronic technology, and other integrated solutions, the exhibition serves as a one-stop procurement platform for the entire electronic manufacturing industry chain, solving the "lack of core components and materials" issue. This year, the new "Shenzhen International Touch and Display Exhibition" will be joined, integrating five exhibitions and sharing 100,000 high-quality visitors, creating a super exhibition with 160,000 square meters of space in the electronic industry chain. The ES SHOW Electronic Material Purchasing Exhibition will be held at the Shenzhen International Convention and Exhibition Center (Bao’an New Hall) from October 12-14, 2022. We look forward to your participation!