Automotive Relay Market - Growth, Trends, and Forecast (2019 - 2027)

 The report “Automotive Relay Market by Type (PCB, Plug-In, High Voltage, Protective, Signal, Time), Ampere (5A-15A, 16A-35A, >35A), Application, Vehicle Type, EV Relay Type (Main, Precharge, Quick Charge, Normal, HV), 48V Relay, and Region – Global Forecast to 2027″ The automotive relay market is projected to grow to USD 21.8 billion by 2027 from USD 14.2 billion in 2019, at a CAGR of 5.5%. The increasing demand for safety, luxury, and comfort and increasing electric vehicle sales will drive the growth of the automotive relay market.

HEV is estimated to hold the largest share in the electric vehicle relay market

Increased tail pipe emissions have triggered stringent emission and fuel efficiency regulations. There would be an increased focus from OEMs on electric vehicles to curb these emissions.

The power supply circuit of electric vehicles must be equipped with high voltage DC relays with very strong arc extinguishing abilities of the safety interruption equipment. In BEVs, the combustion engine gets replaced with an electric motor. On the other hand, HEVs have a combustion engine in addition to the electric motor and battery. Hence, the number of relays in HEVs would increase more than BEVs and PHEVs. Therefore, the HEV segment is estimated to hold the largest share in the electric vehicle relay market in 2019.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=13970338

LCV is estimated to be the fastest growing vehicle segment in the automotive relay market

North America is set to witness high growth in LCV production. According to MarketsandMarkets analysis, in the US, LCV production is projected to grow at a CAGR of 3.6%. OEMs are focused on adding premium electronic features in LCVs such as sunroof, starter motor, and power seats, which influence the LCV relay market. Hence, the LCV relay market would grow at the fastest CAGR during the forecast period.

North America r is estimated to be the fastest growing automotive relay market

The North American automotive industry is considered as one of the fastest growing industries globally. It is dominated by domestic OEMs such as Chrysler, Ford, and General Motors along with some established European and Japanese OEMs. This region is one of the most technologically advanced automotive sectors. The demand for premium cars with extensive electronic components is more in North America. This is mainly because of the high standard of living and high per capita income of the population. Furthermore, government regulations pertaining to vehicle emissions and safety are very stringent. The demand for safe and secure vehicles would drive the growth of the relay market in North America.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=13970338

Key Market Players:

The automotive relay market is dominated by global players and comprises several regional players as well. The key players in the automotive relay market are TE Connectivity (Switzerland), Omron Corporation (Japan), Panasonic Corporation (Japan), HELLA KGAA HUECK & CO. (Germany), Fujitsu (Japan), and Hongfa (China

Key questions addressed by the report

  • What would be the regional demand for automotive relays during the forecast years?
  • What would be the ampere-wise demand for automotive relays in the coming years?
  • How will 48V architecture impact the automotive relay market?
  • How will vehicle electrification impact the automotive relay market?

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=13970338

Comments

Post a Comment

Popular posts from this blog

Automotive Camera Market by Application, View Type, Technology and Region – Global Forecast to 2025

The Automotive Camera Market is projected to grow at a CAGR of 10.62% during the forecast period. It is estimated to be USD 7.5 billion in 2018 and is projected to reach USD 15.1 billion by 2025. The market growth is primarily driven by factors such as regulatory changes and increasing demand for the active safety system. The emergence of newer safety technologies in the automotive industry and the growing demand for electric cars have driven the automotive camera market. Added safety and convenience for the driver has been a major objective of developing camera systems. Moreover, the increasing government mandates related to active safety system are driving the automotive camera market. For instance, in May 2018, the government of Canada and the US mandated that all vehicles under 10,000 pounds must be equipped with a backup camera. Also, the US government has a voluntary agreement with many manufacturers to fit autonomous emergency braking (AEB) by 2022. European governments...
Read more

Occupant Classification System Market Latest Trends and Forecast Growth Report to 2025

The global Occupant Classification System Market is projected to grow at a CAGR of 6.80% from 2018 to 2025, to reach USD 3.17 billion by 2025. The increasing awareness about safety in a vehicle has increased the demand for active and passive safety systems. As a result, the automotive industry has witnessed the increasing adoption of active and passive safety systems in a vehicle.  Passive safety systems inside the vehicle include airbags, seatbelts, whiplash protection system, and occupant classification system. Occupant protection system features such as airbags and seatbelts reduce the probability of death or severe injuries in a traffic mishap. Airbags in a vehicle have significantly improved the safety of occupants. Occupant classification system manufacturers utilize a good portion of their engineering resources to develop new products or improve existing passive safety systems for the automobile. All these developments are primarily focused on improving the overall sa...
Read more

Automotive Actuators Market to Surpass $29.3 Billion by 2030

The Automotive Actuators Market is projected to grow from an estimated USD 20.9 billion in 2023 to reach USD 29.3 billion by 2030 at a CAGR of 4.9% during the forecast period. Automakers are highly focused on developing new and improved components to increase the fuel efficiency of vehicles owing to growing concerns over environmental changes. Automotive actuators play a significant role in reducing emissions and enhancing vehicle efficiency. Electric actuators, also known as smart actuators, replace hydraulic and pneumatic actuators due to their several benefits, like compact and lightweight design, more energy efficient, and less expensive, making it ideal for various applications. Smart actuators can perform diagnostics and include learning capabilities and memory functions. Electric actuators are typically installed in engines that open and close different valves, which is also anticipated to fuel the overall market growth. “Electric Actuators will be the dominating actuation...
Read more