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  • Published On : Dec 2022
  • Code : CMI4137
  • Industry : Semiconductors
  • Pages : 130
  • Formats :

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.
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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  | Coherent Market Insights

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  | Coherent Market Insights

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

A reed switch is made of two ferromagnetic blades, which are hermetically sealed in a glass tube filled with inert gas such as nitrogen to reduce blade corrosion. These blades are protected from corrosion and other environmental parameters using rhodium or ruthenium. Reed switch devices are mainly divided into three types, normally open (A-Type), normally closed (B-Type), and changeover (C-Type). As per its application, type of reed switch device changes.

The Global Reed Switch Device Market is estimated to account for US$ 600.2 Mn in terms of value by the end of 2030.

Market Dynamics

Reed switch device are mainly used to detect the opening of a door, when used as proximity sensor. Normally open reed switch device is used when the door is closed so that when the door opens, magnetic field changes and circuit becomes complete, which will trigger the alarm. Due to its simple construction and low cost operation, it remains as a good alternative for other proximity sensors. Increasing demand for security devices across the globe will drive growth of the global reed switch device market during the forecast period.

Due to government initiatives to reduce carbon footprints, governments across the globe are providing incentives for electric vehicles. For instance, the government of Norway provides various advantages to electric car owners and sellers such as no sales tax for electric car companies to sell vehicles in Norway, annual tax reduction to electric car owners, and others. Due to these factors, the electric vehicle market is expected to witness growth over the forecast period. Reed switch device is used in electric vehicles at charging points. Increasing demand for electric vehicle will, in turn, increase demand for reed switch devices.

Key features of the study:

  • This report provides an in-depth analysis of the global reed switch device market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
  • It profiles leading players in the global reed switch device market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered 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, and others
  • These key market players are focusing on collaborating with other market leaders to launch new products to meet the increasing consumer requirements
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global reed switch device market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global reed switch device market

Detailed Segmentation

  • Global Reed Switch Device Market, By Product Type:
    • Normally Open (A-Type)
    • Normally Closed (B-Type)
    • Changeover (C-Type)
  • Global Reed Switch Device Market, By Application:
    • Reed Relays
    • Magnetic Sensors
  • Global Reed Switch Device Market, By Distribution Channel:
    • Direct Sales
    • Distributor
  • Global Reed Switch Device Market, By Industry Vertical:
    • Electronics & Communications
    • Automotive
    • Security
    • Robotics & Automation
    • Marine & Weather
    • Internet of Things (IoT)
    • Others
  •  Global Reed Switch Device Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa
  • Company Profiles
    • Littelfuse, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • 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.

“*” marked represents similar segmentation in other categories in the respective section.

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.

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