Global Automotive Relay Market is valued at USD 13.36 Billion in 2021 and expected to reach USD 19.38 Billion by 2028 with a CAGR of 5.45% over the forecast period”.
A relay is an electric device that employs electromagnet to manage the switch mechanically. It is normally employed when there is requirement to manage a circuit by dividing a low power signal. Automotive relay is situated in the complete electrical system in the automotive where there is requirement to manage the power. They permit a tiny electric current to pass through the circuit so as to manage higher current circuit. As automotive relay has an essential role in the vehicle, it is crucial to employ long lasting and high performance components in the making of automotive relay. There are different factors to be mulled over while selecting an automotive relay such the type of component needed and hi amp switching. There are different types of automotive relay employed in the vehicle, which comprises Plug-In, PCB, Protective, High Volt, and Time relay. The automotive relay is majorly employed for switching the power among circuits. They are employed since the acceptance of electronic elements in the commercial and passenger vehicles. There are different systems in automotive such as electric steering system and advance driver assistance system, which use relay to manage the power from one circuit to different.
The automotive relay market is divided by load type, type, region, and electric vehicle type. By type, the market is divided into Plug-In, PCB, Protective, High Volt, and Time. PCB relay is predicted to rule the automotive relay market during the coming period due to the rising employment of PCB relay in application such as electric steering, cruise control, sunroof, and power windows. The elevated requirement for PCB relay by the OEMs has led to the development of the market during the coming period, as it can endure heavy load. By load type, the market has been divided as medium load, small load, and heavy load. The heavy load is predicted to lead the automotive relay market owing to the capability of holding high power load in the electronic system. The ability to withstand higher power in the system has led to the elevated employment of heavy load relay in the vehicles.
The major players included in the global automotive relay market forecast are,
The automotive relay market is driven by elevated safety in the vehicle, growing sales of electric vehicles, increase in the number of electronic components, and adoption of advance tech. The different systems that are employed to elevate the safety and offer comfort to the users in the vehicle need automotive relay. Hence, the elevation of automotive relay market is also owing to the risen comfort and safety system. The rise in employment of automotive relay in these systems will lead to further development of the market during the coming period. The transformation of automotive sector to the electrification from traditional has led to the elevated employment of electronic elements in the cars. This will lead to increasing requirement for automotive relay in the commercial and passenger vehicles, which will power the development of the market during the coming period.
By region, the market has been divided into Europe, Asia Pacific, North America, and Rest of the World. Asia Pacific region is predicted to lead the automotive relay market during the coming period owing to the increasing demand of EVs in emerging nations such as China, India, and Japan. The emerging nations such as China and India are the manufacturing centers of the automotive sector, which have led to the elevated production of commercial and passenger vehicles.
Middle East and Africa
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 13.36 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 19.38 Billion
|Tables, Charts & Figures:
|Denso Corporation,Robert Bosch GmbH,Panasonic Corporation,TE Connectivity Ltd.
|By Type,By application,By ampere,By vehicle & relay type
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
By vehicle & relay type:
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