Relay is a type of electrical circuit or switch that can open and close a circuit electronically or electromechanically. HVAC relay is a crucial component of the HVAC control system and is used in HVAC control systems to regulate and control the operation. An increase in demand for HVAC systems in the vehicles for climate control, as increasing demand for vehicles across the globe, is projected to boost the HVAC relay market growth. Moreover, with the rising need for better working and living spaces, the HVAC systems are expected to grow, which fueling the HVAC relay market growth in the forthcoming future.
The horticulture lighting market was valued at US$ 2,730.8 million in 2019 and is expected to reach US$ 11,383.5 million by 2027; it is estimated to grow at a CAGR of 20.2% during 2020–2027.