Global Automotive Relay Market, to grow at ~ 6.65% CAGR by 2023 :

Market Research Future published a half cooked research report on global automotive relay market. Global automotive relay market is expected to grow at the CAGR of around 6.65% during the period 2017 to 2023.

Market Highlights:

The automotive relay is the system that uses an electromagnet to mechanically operate the switch for the power supply to flow through the circuits in the vehicle. They are located across the electrically system in the vehicle for controlling the supply of the power. They are electrical remote control switches that are controlled by another switch to control the supply of higher power in the system. The automotive relay must include high performance and long lasting components to provide better efficiency. There are several factors that need to be considered while selecting automotive relay, which takes into account the kind of component required, hi amp switching, and others. Different types of automotive relay are being installed in the vehicles such as PCB, Plug-In, High Volt, Protective, and Time relay. PCB relay are most widely used due to its improved efficiency and better power handling capability. The automotive relay is being used since the development of electronic controls in the vehicles. The electronic control in the automotive includes various technologies and systems such as advance driver assistance system, and electric steering system, which use the relay to control the power from one circuit to another. Due to the increased use of automotive relay the market is expected to grow in future.

On the basis of region, the market is segmented as North America, Asia Pacific, Europe, and Rest of the World. In Asia Pacific region, there is an increase in the production of electric vehicles in countries such as India, China, and Japan. The major growth in Asia Pacific is due to the increase in the use of automotive relay because of its ability to provide safety related benefits in the electronic system. North America is expected to account for the second largest market in automotive relay market during the forecast period due to increased use of electronics components in vehicles. The region is expected to grow at a steady state during the forecast period. The advancement in technology, has led to an increase in demand for the electronic in automotive. The other factors that are responsible for the growth of this market are increase in purchasing power of the customer and change in the lifestyle. The increase in the purchasing power will lead to growth in the sale of vehicles with latest technology, which will drive the automotive relay market in future. Europe is expected to be the third largest market in the automotive relay market and is expected to grow during the forecast period. In Europe, Germany is expected to dominate the market due to highest production of passenger and commercial vehicles. The increase in the production of vehicles in Germany, will result in the growing use of automotive relay in the electrical system. This will result in the growth of the market during the forecast period.

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Scope of the Report

This study provides an overview of the global automotive relay market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive relays market by its type, load type, electric vehicle type, and region

By Type

PCB

Plug-In

High Volt

Protective

Time Relay

By Load Type

Small Load

Medium Load

Heavy Load

By Electric Vehicle Type

Hybrid Electric Vehicle

Plug-In Hybrid Electric Vehicle

Battery Electric Vehicle

By Region

North America

Europe

Asia Pacific

Rest of the World

Key Players

The key players in automotive relay market are TE Connectivity Corporation (Switzerland), Omron Corporation (Japan), Panasonic Corporation (Japan), Fujitsu (Japan), and Hella KGaA Hueck & Co. (Germany), Denso Corporation (Japan), American Zettler (U.S.), ABB Group (Switzerland), Eaton Corporation plc (Republic of Ireland), Sharp Corporation (Japan), NEC Corporation (Japan), Nippon-Aleph (Japan), Daesung Electric (India), Mouser Electronics, Inc.(U.S.).

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