It is one of the most important components in remote control and remote control. During the period of 2023 million, the investment rate of automation market will reach 1.033 billion, which will be promoted by the international research market.
According to the report, the increase in energy demand promotes the market's demand for power supply quality, thus promoting the stable growth of market demand for automatic relays.
From a regional perspective, North America will become the world's largest demand market for automatic relays, followed by the Asia Pacific region and Europe. From a single country perspective, due to intensive power infrastructure upgrading and large-scale deployment of distribution automation projects, the United States will become the largest single market country in the world, followed by China and India.
The report also reminds that insufficient government investment in improving power grid stability, high cost of relays and disorderly market competition will be constraints on the development of the market. At present, the global automatic relay market is too scattered and concentration is not high. Only a few enterprise giants have been exploring the international market through mergers and acquisitions, such as ABB Group in Switzerland, Eaton group in Ireland, Mitsubishi Electric in Japan, General Electric Company in the United States, simmenzi in Germany and Schneider Electric in France.