Automotive Relay Market (By Type: Plug-in Relay, PCB Relay; By Application: Powertrain Systems, Safety & Security, Convenience, Body & Chassis, Driver Information) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027
The global Automotive Relay Market size is projected to reach around US$ 18 Bn by 2027 and is anticipated to grow at a CAGR of around 4.9% in terms of revenue during the forecast period 2020 to 2027.
A relay is an electronic switch using an electromagnet to control the switch mechanically. It is normally used where a circuit is to be operated by a low power signal separation. Automobile relays are situated in the automobile in the electrical system where power must be regulated. They make a limited electrical flow through the circuit so that higher voltage circuits are regulated. Since automotive relays play a significant role in automobiles, the manufacturing of auto relays includes use of high performance and long-lasting components.
The report provides analysis of global Automotive Relay market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Market Dynamics
The improvement in safety and relaxed driving experience given by auto relays has raised the market for relays and predicted that the projected period will be much greater. Lighter Printed Circuit Board (PCB) relays are slowly replacing complicated plug-in systems with accelerated PCB design. The global PCB relay market is expected to grow with this aspect. PCB relays will still continue to be the leading segment of the global relay industry in the forecast timeframe. In order to boost the automobile relay industry over the timeframe foreseen, regulatory legislation that provide protective components to reduce the number of casualties to cars are required. These instruments can be added to protection measures, such as headrest, control mechanisms, seat belts and airbags. With growing use of technology such as GPS, weather, temperature and traffic information the market for automotive relays is expected to rise at a good CAGR amid the forecast period. Concepts such as sunroof access, mirror access, and infotainment systems have arisen with growing demand for convenience. Another important factor in the growth of the global automobile industry is the rise in the demand for the Hybrid Electric Vehicle (HEV) segment.
Regional Stance
Asia Pacific held principle market share in 2019 and projected to govern the market amid the projected time span. Asia Pacific is one of the main places to raise sales and in 2019. The development of the region is due to the penetration in emerging economies such as China of vehicles and the adoption of safety norms in different Asian countries, which are expected to boost the demand. Asia Pacific has a strong potential for expansion, which is due to high demand for automobiles in this area. The auto demand is projected to drive regional market growth during the forecast period in Asia-Pacific, particularly in China and Japan.
North America is projected to be the second largest region in the automotive relay industry during the forecast phase. The OEMs also made big investments in the production of electric motor vehicles in North America. More investment in electric car production would contribute to the increasing use in the automotive network of automobile relays. In the projected era, this would lead to a demand growth.
Report coverage
The market research study on “Automotive Relay Market (Automotive Relay Market By Type: Plug-in Relay, PCB Relay; Automotive Relay Market By Application: Powertrain Systems, Safety & Security, Convenience, Body & Chassis, Driver Information) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Automotive Relay market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Automotive Relay market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Automotive Relay market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Automotive Relay market is segmented as below:
Market Segmentation
Automotive Relay Market By Type
- Plug-in Relay
- PCB Relay
Automotive Relay Market By Application
- Powertrain Systems
- Safety & Security
- Convenience
- Body & Chassis
- Driver Information
Automotive Relay Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Key Players and Market Situation
Participants include major global players such Fujitsu, ABB Ltd., Denso, Eaton, Idec Corporation, TE Connectivity, Littelfuse Inc., and Omron Corporation. Other prominent players are NEC Corporation, Sharp Corporation, Others.
Frequently Asked Questions
What is relay?
A relay is an electronic switch using an electromagnet to control the switch mechanically.
How much is the automotive relay market size?
Acumen Research and Consulting predict that the global automotive relay market size is expected to reach around US$ 18 Bn by 2027.
How much is the CAGR of automotive relay market?
The global automotive relay market is anticipated to grow at a CAGR of around 4.9% in terms of revenue during the forecast period 2020 to 2027.
Which region held principle market share in 2019?
Asia Pacific held principle market share in 2019 and projected to govern the market amid the projected time span.
Which region is projected to be the second largest region in the automotive relay industry?
North America is projected to be the second largest region in the automotive relay industry during the forecast phase.
Which are the key players of automotive relay market?
Participants include major global players such Fujitsu, ABB Ltd., Denso, Eaton, Idec Corporation, TE Connectivity, Littelfuse Inc., and Omron Corporation. Other prominent players are NEC Corporation, Sharp Corporation, Others.
Which are the applications of automotive relay market?
Powertrain Systems, Safety & Security, Convenience, Body & Chassis, and Driver Information are the applications of automotive relay market.
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