Global Automotive Relay Market, By Type (PCB Relay, Plug-in Relay, High Voltage Relay, Protective Relay, Signal Relay, Time Relay), Application (Door Lock, Power Windows, Sunroof, Powered & Heated Seats, Electronic Power Steering (EPS), Exterior Lighting, Fuel Injection, Air Conditioner, Anti-Brake System (ABS), Traction Control System, Colling Fan Control, Engine Management Modules), Ampere (5A–15A,16–35A, >35A), Vehicle Type (Passenger Car, Light commercial Vehicle), Relay Type (BEV, HEV, PHEV) Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Automotive Relay Market
Data Bridge Market Research analyses that the automotive relay market would exhibit a CAGR of 5.40% for the forecast period of 2022 to 2029 and is likely to reach USD 24.01 billion in 2029.
Automotive relay is an electronically operated switch. They use an electromagnet device to mechanically manoeuvre a switch to make or break an electrical circuit.
Developing requirements for electric power modules and automated components is the major factor accelerating the growth of the automotive relay market. Furthermore, growing requirement for security and convenience and progressing purchases of electrical and hybrid transports are also expected to drive the growth of the automotive relay market. However, absence of uniformity in relay configuration and the attached smart terminal box restrains the automotive relay market, whereas, intelligent fuse case for self-ruling cars will challenge market growth.
In addition, progressing application of DC device in automotive chassis automatics will create ample opportunities for the automotive relay market.
This automotive relay market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on automotive relay market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Automotive Relay Market Scope and Market Size
The automotive relay market is segmented on the basis of type, application, ampere, vehicle type, and relay type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of type, the automotive relay market is segmented into PCB relay, plug-in relay, high voltage relay, protective relay, signal relay, and time relay.
- On the basis of application, the automotive relay market is segmented into door lock, power windows, sunroof, powered and heated seats, electronic power steering (EPS), exterior lighting, fuel injection, air conditioner, anti-brake system (ABS), traction control system, cooling fan control, and engine management modules.
- On the basis of ampere, the automotive relay market is segmented into 5A–15A, 16–35A, and >35A.
- On the basis of vehicle type, the automotive relay market is segmented into passenger car, and light commercial vehicle.
- On the basis of relay type, the automotive relay market is segmented into BEV, HEV, and PHEV. The relay type is further sub-segmented into main relay, recharge relay, quick charge relay, normal charge relay, and high voltage accessories relay.
Automotive Relay Market Country Level Analysis
The automotive relay market is segmented on the basis of type, application, ampere, vehicle type, and relay type.
The countries covered in the automotive relay market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the automotive relay market and will continue to flourish its trend of dominance during the forecast period owing to the due to the high-level technologies and specialties in transports. North America region is set to witness unprecedented growth during the forecast period and will project the highest compound annual growth (CAGR) rate. This is due to increasing requirement for security and convenience in these regions.
The country section of the automotive relay market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Automotive Relay Market Share Analysis
The automotive relay market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive relay market.
Some of the major players operating in the automotive relay market report are TE Connectivity, OMRON Corporation, HELLA GmbH & Co. KGaA, Panasonic, FUJITSU, Xiamen Hongfa Electroacoustic Co.,Ltd., Robert Bosch Ltda., DENSO, LS Automotive India Pvt Ltd., Littelfuse, Inc., Circuit Interruption Technology, Inc., Picker Components, American Zettler, Inc. among other.