Automotive relay market is projected to grow at a CAGR of 6.20% during the forecast period, to reach a market size of USD 16.75 billion by 2022.
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Asia-Oceania is estimated to lead the automotive relay market, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. T he automobile industry is flourishing in this region, especially in South Asia. Additionally, Asia-Oceania has created hubs for automobile manufacturers and automotive component suppliers.
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PCB relays are projected to lead the automotive relay market, in terms of volume and value, during the forecast period. Automakers are seeing demand for smaller devices that are capable of carrying greater current loads. The main reason for using PCB relays is its miniaturized size, which saves considerable space in the automobile junction box. The major applications where PCB relays are employed are ABS, cruise control, doors, power steering, power windows, sunroof, and others. Asia-Oceania and Europe are estimated to be the fastest growing markets for PCB relay. Asia-Oceania has the highest market share in the automotive relay market.
The premium car segment holds the largest share of around 35%–40% in the automotive relay market. OEMs are focusing on additional features in the areas of infotainment, telematics, and safety. These features will add to the electronic content of a vehicle, and efficient designing and packaging of electronic content will give superior performance with reduced weight. This will also help to increase the fuel efficiency of the vehicle. In countries such as Germany and the U.S., the penetration of premium cars is higher as compared to other countries owing to the high disposable income levels of individuals and presence of major automotive OEMs such as Volkswagen AG, Audi, BMW, General Motors, Chrysler, and others.
Target Audience Include Automotive Relay Market Report:
- Suppliers of automotive relay
- Raw material manufacturers of automotive relay components (suppliers for Tier I)
- Traders, distributors, and suppliers of automotive relay components or raw materials
- Regional manufacturer associations
- Automotive OEMs
- Organized and unorganized aftermarket suppliers
- Government’s national and regional environmental regulatory agencies or organizations
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Top Companies Analyzed for Automotive Relay Market are – TE Connectivity Corporation (Switzerland), Omron Corporation(Japan), Panasonic Corporation (Japan), Fujitsu (Japan), Hella KgaA Hueck & Co.(Germany), Denso Corporation (Japan), Delphi Automotive LLP (U.K.), ABB (Switzerland), Eaton Corporation(Ireland), Robert Bosch GmbH (Germany), Siemens AG(Germany), Alstom (France), Mitsuba Corporation (Japan), NEC Corporation (Japan).
Key Secondary Sources
Key Data From Secondary Sources
Sampling Techniques & Data Collection Methods
PCB Material Selection for Mounting Automotive Relay
Supply Side Analysis
Rising Trend of Vehicle Electrification
Stringent Safety Regulation and Demand for Comfort & Luxury Influencing the Automotive Relay Market
Market Size Estimation
Market Breakdown and Data Triangulation
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