Automotive Relay Market Size Development Trends, Competitive Landscape And Key Regions 2030
Market Summary -
The global automotive relay market perceives a constant rise
in revenues. Automotive relays play an important role in the vehicle by
increasing the performance and life of components. They allow a controlled
electric current to flow through the circuit controlling the volatility in the
current flow. Resultantly, there are various types of automotive relay used in
vehicles, which drives the growth of the market.
Market Research Future (MRFR) confirms that the global automotive
relay market is estimated to reach a significant valuation,
growing at an impressive CAGR during the assessment period. The rise of the
automotive relay market also attributes to the increased safety and comfort
system. Safety systems used to increase the safety and comfort in a
vehicle require automotive relays.
The rising uses of electronic components in passenger and
commercial vehicles substantiate the market size. Besides,
increasing integrations of various automotive systems such as advanced driver
assistance systems (ADAS) and electric steering systems that require controlled
power flow from one circuit to another create vast market demand.
Improved vehicle safety norms and augmenting demand for
increased vehicle safety foster the demand for advanced automotive relays.
Additionally, the proliferating electronic component uses and adoption of
advanced technology, alongside growing electric vehicle sales, boost the automotive
relay market size. Increased use of automotive relays in safety systems would
result in further growth of the market during the forecast period.
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Major Players:
Players leading the automotive relay market
include Omron Corporation (Japan), TE Connectivity Corporation (Switzerland),
Panasonic Corporation (Japan), Hella KGaA Hueck & Co. (Germany), Fujitsu
(Japan), Denso Corporation (Japan), ABB Group (Switzerland), American Zettler
(U.S.), Eaton Corporation plc (Republic of Ireland), NEC Corporation (Japan),
Sharp Corporation (Japan), Nippon-Aleph (Japan), Mouser Electronics,
Inc.(U.S.), and Daesung Electric (India), among others.
Automotive Relay Market – Segmentation
The report is segmented into type, load type, electric
vehicle type, and region. The type segment is sub-segmented into PCB, Plug-In,
High Volt, Protective, and Time. Among these, the sub-segment PCB relay holds
the largest market share, witnessing the increasing use of these relays in
applications, such as cruise control, electric steering, power windows, and
sunroof.
The load type segment is sub-segmented into small
load, medium load, and heavy load. Among these, the sub-segment heavy load holds
the largest market share due to the ability to hold high power loads in the
electronic system. The electric vehicle type segment is sub-segmented into
hybrid electric vehicles, plug-in hybrid electric vehicles, and battery
electric vehicles. By regions, the market is sub-segmented into the Asia
Pacific, Americas, Europe, and rest-of-the-world.
Automotive Relay Market – Regional Analysis
Asia Pacific dominates the global automotive relay market
due to the growing demand for electric vehicles in the region. Emerging APAC
countries, such as India, Japan, and China, are automotive manufacturing hubs,
resulting in increased passenger and commercial vehicle production. Besides,
the increasing demand for electric vehicles boosts the market size, increasing
automotive relay uses.
North America seizes the second-largest share in the global
automotive relay market. The region is a promising market for automotive care
technologies, which alongside the increasing production of luxury vehicles,
fosters the demand for automotive relays. Moreover, significant investments by
OEMs to develop electric vehicles influence the region’s market share by
creating a significant demand for automotive relays.
Europe accounts for a sizable share in the global automotive
relay market. The region is the global hub for luxury and premium vehicles,
positively impacting the growth of the market. Additionally, the shift towards
electric mobility has led to EV manufacturers integrating novel relay
technologies compatible with the car. Constant growth in the automotive
industry and demand from the transportation sector substantiate market growth.
Automotive Relay Market – Competitive Analysis
Highly competitive, the automotive relay market appears
fragmented with the presence of several notable industry players. These players
adopt strategic approaches such as mergers & acquisitions, collaboration,
innovation, and brand reinforcement to gain a larger competitive share.
Industry/ Innovation/ Related News:
Nov.04, 2020 ---- Panasonic Corporation (Japan)
announced that it has miniaturized its TT series 60A automotive relays into
17.8 x 13 x 16mm housings. 60A relays for automotive support switching 60A at
14Vdc (NO contact) and are tailored to smart junction boxes throughout a
vehicle. Those state-of-the-art junction boxes are a downright leap
in terms of switching structure, significantly increasing the overall share of
PCB-mounted relays.
Continue.......
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