Automotive Relay Market Size and Growth Rate:
According to our research report, the Automotive Relay Market size is poised to reach USD 5.09 Billion by the end of 2025 from USD 10.46 Billion in 2017 and this market witnessed a growth rate of 5.4% during the forecast period 2018-2025.
Automotive Relay Market Overview:
Automotive relays are widely used in electrical systems used in applications such as automobiles, trucks, industrial and heavy equipment. A high current circuit can be controlled by a lower current circuit using motor vehicle relays.
Automotive Relay Market - Growth Drivers and Opportunities:
With the increase in safety levels and the comfortable driving experience offered by the relays for automobiles; the demand has increased and is expected to grow even more during the forecast period. With the rapid development of PCBs, lighter relays are gradually replacing complex connection devices. This factor is likely to increase the global PCB retransmission market. Government regulations that include automotive safety components to reduce the number of victims will result in the market boom during the forecast period. These devices can be used in security systems such as headrests, display screens, steering systems, seat belts and airbags. With the increase in the use of technologies such as GPS, meteorological information, temperature and traffic, the demand for automotive relays is expected to grow at a high CAGR. As the demand for comfort levels has increased, concepts such as sunroof control, keyless entry systems, mirror control and information and entertainment systems have emerged. The growing demand of the hybrid electric vehicle segment (HEV) is also a key driver of growth in the global market.
Automotive Relay Market - Regional Analysis:
Europe's Automotive Relay market share in 2016 was 24% of total global revenues. The Asia-Pacific region is expected to publish a moderate CAGR on the growth of the automotive retransmission market during the forecast period. The Asia-Pacific region is progressively called the automobile manufacturing center due to the availability of raw materials and comparatively lower labor costs. Proximity applications and propulsion systems are largely responsible for regional sales in the Asia-Pacific region. Due to strong demand and significant vehicle production in China, it is estimated that China has significant growth trends in the motor vehicle relay market.
Prominent Companies in the Automotive Relay Market analyzed in the report are:
- TE Connectivity
- Panasonic Corporation
- Denso Corporation
- Omron Corporation
- American Zettler
This research report includes following segmentation for the Automotive Relay Market size and forecast until 2025:
Automotive Relay Market – By Product Type:
Automotive Relay Market – By Application:
- Powertrain Systems
- Body & Chassis
- Safety & Security
- Driver Information Systems
Automotive Relay Market – By Geography:
- United Kingdom
- South Korea
Middle-East & Africa
Key Takeaways from Automotive Relay Market Report:
- For different Devices types, and applications offers calculated growth rates (CAGR %), Volume (Units), and Value ($M) in each region to estimate the Automotive Relay Market potential.
- Identify various driving factors, constraints and untold opportunities that can impact the Automotive Relay Market place.
- Know the position of your competitor based on the market shares, financial performance, strategical approaches, SWOT, product benchmarking and so on.
- Increase overall revenue by understanding the geographical impact on sales and distribution channels.
- Evaluate the increase in values at each step of the industry supply chain to improve process efficacy and optimize the value.
- Understand the market dynamics of leading players like deals, partnerships, new products, mergers and acquisitions in the last four years.
- Estimate the gaps in supply-demand, statics involved in import-export, and regulatory framework of the worldwide Automotive Relay Market in over 20 top nations.