CAGR of 6.32%, Automotive Relay Market is expected to grow (2018-2023) According to Business Outlook, Top Companies, Key Regions, Product Demand, Analytical Research Report

Automotive Relay

The Automotive Relay Market Report 2018-2023 focuses on the global Automotive Relay status, future forecast, growth opportunity, key market, and key players. 

The Automotive Relay Market report studies the global market size of Automotive Relay in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Automotive Relay in these regions. This research report categorizes the global Automotive Relay market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porter’s Five Forces Analysis.

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The various contributors involved in the value chain of Automotive Relay include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Players covered in this study:-

  • American Mitsuba Michigan
  • ANDEN Co. Ltd
  • Robert Bosch GmbH
  • Denso Corporation
  • Hella KGaA Hueck & Co.
  • Hyundai Dymos
  • Miyamoto Electric Horn Co. Ltd
  • Omron Corp.
  • Panasonic Corp.
  • Shanghai Hongfa Electroacoustic Co. Ltd
  • TE Connectivity Ltd.
  • Fujitsu Ltd.
  • Nidec Corp.
  • Johnson Electric

Overview of Automotive Relay Market Research Report 2018-2023:-

The Global Automotive Relay Market is anticipated to register a CAGR of 6.32% during the forecast period, until 2023. Factors, such as, increasing trends toward vehicle electrification, safety, fuel efficiency standards, and stringent emission norms are driving the market.

The primary purpose of a relay is to act as a switch. In addition, they are used to switch between different circuits. Relays in automotive have been in existence since electronics were introduced, and their numbers are still on the rise, due to the increasing electrification of vehicles. Relays consist of an electromagnet, wherein the input current causes the coil to generate a magnetic field, which causes the contacts to meet, and thus, the circuit is established. If the input voltage is insufficient, the contacts will not meet due to the weak magnetic field.

Increasing Use of Electronic Components to Drive the Market

The number of semiconductors, which are used in cars, has increased at almost twice the rate of the vehicle production. Hence, ECUs are more complex currently, with the rise in the number of electronic components, and have a direct impact on the electromagnetic compatibility (EMC) targets. For instance, the shift of the automotive scenario toward X by wire systems (throttle, brake, and gear-shift) has caused the increased adoption of relays in vehicles. A passenger vehicle uses about 30 relays, on an average. Additionally, the increasing vehicle connectivity and sophistication of electronics in vehicles are the factors fueling the global automotive relay market.

Relays have been in use since a few decades. Not many developments have been observed in relays, during the recent past. Few changes or developments that have taken place are the introduction of Solid State Relays and Intelligent Power Distributors (IPDs). These are used as substitutes, due their characteristics, such as multi-purpose functionality, flexibility in component placement and assembly, and increased lifetime, among others.

PCB relays are the most used and are growing the fastest, due to their wide range of applications. Their small size and lightweight properties have increased their usage in vehicles. In the application segment, door lock has the largest share, since current has to distribute from one door to another.

Increasing Electric Vehicle Sales and Adoption of Hybrid Vehicles to Push the Market

Increasing stringent emission regulations have fueled the rise in sales of electric vehicle. The rise in hybridization of vehicles by automakers has created a need for relays in electric vehicles. Although, EVs are not as prominent as ICEs, many steps were taken by the governments of different countries for increasing electric vehicle sales, causing a prolific growth in electric vehicles. The vehicles operate on 48V battery packs, thus, relays for the battery packs are slightly different from the usual relays. However, the basic construction is almost the same, resulting in no excessive capital investment in machinery. Also, economies of scale can be achieved relatively easily.

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Reasons to Purchase this Report

  • A study on the adoption of newer technologies and their effects on the global automotive relay market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • The type of relays that is expected to dominate the market during the forecast period.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet (in Excel).

    Key questions answered in the Automotive Relay Market Report are.

    • What will the market size be in 2023 and what will the growth rate be?
    • What are the key market trends?
    • What is driving this market?
    • What are the challenges to market growth?
    • Who are the key vendors in this market space?
    • What are the market opportunities and threats faced by the key vendors?
    • What are the strengths and weaknesses of the key vendors? 

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    This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Automotive Relay market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

    Major Points from TOC of Automotive Relay Market Research Report 2018-2023:

    1. INTRODUCTION
      1 Study Deliverables
      1.2 Study Assumptions
      1.3 Scope of the Study
    1. RESEARCH METHODOLOGY
    1. EXECUTIVE SUMMARY
    1. MARKET DYNAMICS
      1 Drivers
      4.1.1 Rise in Defence Expenditure of Many Countries
      4.1.2 Increasing Demand of Lightweight Materials in the Industry
      4.2 Restraints
      4.2.1 Need for High Investments in R&D
      4.2.2 Other Restraints
      4.3 Industry Value-Chain Analysis
      4.4 Porters 5 Force Analysis
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Consumers
      4.4.3 Threat of New Entrants
      4.4.4 Threat of Substitute Products and Services
      4.4.5 Degree of Competition
      4.5 Price Analysis
    1. MARKET SEGMENTATION
      1 By Application
      5.2 End-user Sector
      5.2.1 Residential
      5.2.2 Commercial
      5.2.3 Institutional
      5.3 Geography
      5.3.1 Asia-Pacific
      5.3.2 North America
      5.3.3 Europe
      5.3.4 South America
      5.3.5 the Middle East & Africa

      Continued…

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