The latest report by IMARC Group, titled “Automotive Relay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global automotive relay market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive relay market reached a value of US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027. An automotive relay refers to an electromechanical switching device wherein coils generate magnetic force to control and operate a high current circuit in several vehicles, including cars, vans, trucks, trailers, etc. It is usually installed in infotainment systems, harnesses, and box modules, such as an auxiliary lamp, fan motor, rear and front area, engine, body control, etc. Automotive relays enhance passenger comfort, support advanced safety features, can operate in harsh environments, etc. They are commonly available in numerous forms, ranging from plug-ins and printed circuit boards (PCBs) to nominal coil voltage and high-voltage contactors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Market Trends and Drivers:
The elevating levels of urbanization and purchasing power of consumers, coupled with the rising demand for luxurious and smart vehicles, are primarily driving the automotive relay market. Furthermore, various stringent regulations implemented by government bodies across the globe are encouraging vehicle electrification, which is also propelling the market growth. In addition to this, the escalating number of fatal road accidents is further catalyzing the demand for automotive relays in switches for airbags, backup sensing systems, seat belts, head restraints, head up display (HUD), etc. Moreover, the increasing investments in infrastructural development and the growing utilization of off-road vehicles for construction purposes are also augmenting the global market. Apart from this, the emerging trend of connected and modern vehicles is fueling the product demand for power steering, navigation, cruise control, etc. This, in turn, is expected to stimulate the automotive relay market over the forecasted period.
Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd.
- BorgWarner Inc.
- DENSO Corporation
- Eaton Corporation plc
- Fujitsu Limited (Furukawa Co. Ltd.)
- HELLA GmbH & Co. KGaA
- Littelfuse Inc.
- LS Automotive India Pvt Ltd.
- OMRON Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Siemens AG
- TE Connectivity
Breakup by Product:
- PCB Relay
- Plug-in Relay
- High Voltage Relay
Breakup by Application:
- Powertrain Systems
- Body and Chassis
- Safety and Security
- Driver Information
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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