Reed Switch Device Market Size, Trends and Forecast to 2030

Q: Which region held the largest market share in the market in 2021?

Asia Pacific held the largest share in the market in 2021. Read more

A reed switch is made up of two ferromagnetic blades, which is hermetically sealed in the glass tube filled with inert gas such as nitrogen, to reduce blade corrosion. These blades are provided with some physical gap in between and can be closed using suitable magnetic force that is made from permanent magnet. In order to increase the shelf life of blades, it is coated with rhodium or ruthenium. Furthermore, reed switch provides benefits such as simple construction and longer life operations, reed switches are adopted in various industries including electronics & communications, automotive, security, robotics & automation, and others.

The global reed switch device market was valued at US$ 270.1 Mn in 2021 and is expected to exhibit a CAGR of 9.5% during the forecast period (2020-2027).

Recent Developments:

In February 2021 Littelfuse, Inc., a manufacturer of technologies in circuit protection, power control, and sensing, launched a reed relay product range that supports AC & DC loads up to 300 Vdc, also extends voltage capabilities to encompass AC ratings, and offers input/output isolation voltage of 2500 VRMS.

Reed Switch Device Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2021:	US$ 270.1 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	9.5%	2030 Value Projection:	US$ 600.2 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:	By Product Type: Normally Open (A-Type), Normally Closed (B-Type), Changeover (C-Type). By Application: Reed Relays, Magnetic Sensors. By Distribution Channel: Direct Sales, Distributor. By Industry Vertical: Electronics & Communications, Automotive, Security, Robotics & Automation, Marine & Weather, Internet of Things (IoT), Others.
Companies covered:	Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated
Growth Drivers:	The increasing demand for reed switch devices in electric vehicles is expected to drive growth of the global reed switch device market during the forecast period The increasing demand for solar devices is expected to drive growth of the global reed switch device market during the forecast period
Restraints & Challenges:	Operating imitations of reed switch devices is expected to restrain growth of the global reed switch device market during the forecast period Development of advanced technologies is expected to restrain growth of the global reed switch device market during the forecast period

Restraint:

Development of advanced technologies is expected to restrain growth of the global reed switch device market during the forecast period
Operating imitations of reed switch devices is expected to restrain growth of the global reed switch device market during the forecast period

Reed Switch Device Market - Impact of Coronavirus (Covid-19) Pandemic:

According to Coherent Market Insights’ analysis, the impact of the coronavirus (COVID-19) pandemic on the reed switch device market is moderate. But, Due to the lockdown in countries such as China and India, supply chain is mainly disturbed. As we know Reed switches are largely used in the automation and robotics industry which was completely shut down.Hence, the global reed switch device market witnessed slow growth during the pandemic.

Figure 1: Global Reed Switch Device Market Share (%), By Region, 2021

REED SWITCH DEVICE MARKET

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Asia Pacific held a dominant position in global reed switch device market in 2021

Statistics:

Asia Pacific held dominant position in the global reed switch device market in 2021, accounting for 37.2% share in terms of value, followed by North America, Europe, Latin America, and MEA, respectively

Figure 2: Global Reed Switch Device Market (US$ Mn) Analysis and Forecast, 2017 - 2030

REED SWITCH DEVICE MARKET

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The global reed switch device market was valued at US$ 270.1 Mn in 2021 and is expected to reach US$ 600.2 Mn by 2030, growing at a CAGR of 9.5% between 2022 and 2030.

Major players operating in the global reed switch device market include Littelfuse, Inc., RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Technology USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Technology Corp., Honeywell International Inc., Molex Incorporated

Frequently Asked Questions

The global reed switch device market is expected to reach US$ 600.2 million by 2030.

The market is expected to witness a CAGR of 9.5% during the forecast period (2022-2030).

The major factor driving growth of the market is the increasing demand for reed switch devices in electric vehicles.

The distributor segment of the market segment held the largest market share among the distribution channel in 2021.

Asia Pacific held the largest share in the market in 2021.

Key players operating in the market are Auto Parts Warehouse, RMCIP, Standex Electronics, Inc., Nippon Aleph, HSI Sensing, Inc., Coto Distribution Channel USA, PIT-RADWAR S.A., PIC GmbH, STG Germany GmbH, Harbin Electric Group, Zhejiang Xurui, Zippy Distribution Channel Corp., Honeywell International Inc., and Molex Incorporated.