Automotive Relay Market size was valued at USD 15.70 Bn. in 2021 and the total revenue is expected to grow by 5.18% from 2022 to 2029, reaching nearly 23.52 Bn. Automotive Relays are regularly used in electrical systems for vehicles, trucks, industrial machinery, and heavy equipment. Using automotive relays, a lower current circuit can regulate a high current circuit. Automotive Relays allow multiple objects to be switched at once via a single output. There are automotive relays available in a variety of sizes and shapes for usage in land and sea vehicles. These automotive relays are most frequently utilized in applications like car flashlights, car alarm systems, anti-lock brake systems, car antennae, car stereos, horns, and intermittent wipers, among others. Over the past ten years, the types of electric automobile components have changed, which has increased the number of relays used as switching devices and changed the features that are required of each relay. As a result of developments in downsizing and high contact capability development to meet mounting space constraints in the Electric Control Unit (ECU) of automobiles, the sector is expected to experience stable growth during the projection period. In addition, the market is driven by growing end-user industries including construction & infrastructure, mining, wind & energy, and heavy engineering. To know about the Research Methodology :- Request Free Sample Report
Report Scope:The report covers market segmentation, application, development trend, technology, competitive environment, industry overview, national policy and planning analysis of the industry, and dynamic analysis. The report details the market size, competitive landscape, production numbers, import-export analysis, product demand by region, and additional factors that affect market demand throughout the forecast period. The important market participants for automotive relays are examined in the report. To grow their market penetration and solidify their position in the sector, these players have implemented a variety of measures, including alliances, new product launches, expansion, and others. The report is useful for assessing each market participant's business performance, operating segments, product portfolio, and innovations.
Automotive Relay Market Dynamics:The need for the automotive relay is expected to grow through the forecast period, thanks to the rise in the utilization of technology like GPS, weather, temperature, and traffic information. Concepts like sunroof control, keyless entry systems, mirror control, and entertainment systems have emerged in response to the rise in demand for comfort levels. The rise in demand for the Hybrid Electric Vehicle (HEV) sector is also boosting the growth of the automotive relay market across the globe. Road accidents are a leading cause of mortality across the globe, and in recent years, there has been a dramatic rise in the number of fatalities related to them. For instance, 1.3 million people each year died in traffic accidents, according to a report from the World Health Organization that was published in 2021. Teenagers are more likely than adults to die as a result of a driving accident. These elements are fueling a rise in demand for vehicle safety measures. To satisfy consumer demand, businesses in the automotive industry are creating and implementing safety measures. As a result, due to an increase in traffic accidents around the world, demand for safety equipment such as parking assistance, collision avoidance systems, lane departure warnings, traction control, electronic stability control, tyre pressure monitors, and airbags is on the rise. Several advanced driver assistance systems (ADAS) technologies rely heavily on automotive semiconductors and relays to function properly. ADAS systems may identify and classify items in the path of moving vehicles and then notify drivers of their surroundings and road conditions. Based on data calculated using semiconductors & related components, these systems can also autonomously slow down or stop vehicles based on road conditions. A digital or electromechanical controlled switch, an automotive relay is made for DC voltages in safety systems. Relays are also utilised when software wants to switch from a high to a low current (or vice versa) in the same circuit. Relays can also manage many systems simultaneously, for example, turning on the headlights when the wipers are on or extending the antenna when the radio is on. Automotive relays are therefore commonly employed in the safety elements of automobiles as a result of these advantages. The market for automotive relays is expected to increase significantly throughout the forecast period as a result of the rise in demand for safety features in automobiles. The rising connection demand and vehicle digitalization are expected to significantly affect market growth through the forecast period. Due to space limitations, the compact car market also offers additional, high-growth potential, which has significantly increased demand for auto wiring harnesses. Government rules that strictly enforce the usage of certain electronic safety systems, including the Electronic Stability Program (ESP) and Anti-Locking Braking System (ABS), to limit dangerous fuel emissions present opportunities for market growth. The market need for auto wiring harnesses has also been boosted by the growing popularity of electric automobiles. The demand for electronic systems in new cars has been rising quickly as the focus shifts to autonomous vehicles and smart cars (with the ability to connect, with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications) that can guarantee safety and convenience to consumers. In addition, Mid-range and entry-level automobile categories are seeing widespread adoption of newer generation automotive electronics that improve the driving experience, and they are readily accessible through the aftermarket. The demand for producing dependable and standardized components for effective, safe, and secure switching of electric loads is continually driven by the rapidly growing use of electric components in the existing and next automobiles. These elements are now fueling the market growth. Lack of uniformity in the automotive sector is expected to limit the market's growth for automotive relays. When elements like the capacity to endure voltage fluctuations, vibrations, and high temperatures, as well as resilience, are taken into account, automotive relays are weaker than normal plug-in relays. As a result, traditional plug-in Relays are still preferable in many applications, especially powertrain systems. During the forecast period, this aspect is expected to restrain the growth of the automotive relay market.
Automotive Relay Market Segment Analysis:By Type, the Automotive Relay Market is segmented into PCB relay and Plug-in relay. The PCB relay segment held the largest market share in 2021. Smaller devices capable of supporting higher current loads are required as the demand for electronic control modules and electronic components rises. The primary benefit of PCB relays is their miniature size, which significantly reduces the amount of junction box space required. As a result, it is expected that the PCB relay industry expected to dominate the automotive relay market. The plug-in relay segment is expected to grow at the fastest CAGR through the forecast period. These relays are used in applications, such as powertrain systems, where it is necessary to withstand high temperatures, voltage swings, and extreme vibrations. Due to their reliability across a range of temperatures and moisture, many relays are used in the engine compartment. By Application, the Automotive Relay Market is segmented into Passenger vehicles, Commercial vehicles, and Electric vehicles. The increasing volume of production necessitates the installation of several automotive components, including automotive relays, in each new vehicle, which supports the growth of the automotive relay market. For instance, the China Association of Automobile Manufacturers estimates that in 2021, there were around 21.408 million passenger vehicles produced, an increase of 7.1% over the previous year. As a result, the market for an automotive relay is growing due to the rising production of commercial and passenger vehicles. Many countries including China, Germany, and India are giving generous incentives to encourage the purchase and use of EVs. The increasing preference for electronic e-fuses over their electromagnetic alternatives is a result of vehicle modernization driving the segment's growth. Many European nations have motivation-based EV promotion campaigns. There are tax discounts and exemptions offered by nations like Germany and Austria. France and the UK provided EV owners with incentive money and insurance reductions.
Automotive Relay Market Regional Insights:In 2021, Asia Pacific dominated the market with the largest market share followed by Europe. The highest market share in terms of car production is responsible for the growth. Consumer preferences have altered as a result of rising disposable income. Modern features and technologies are in high demand among consumers for automobiles. Relays will be used as a result of all these causes, making the Asia Pacific region's market the largest. The business is expected to grow as more market participants enter emerging nations like China and India. Additionally, the OEMs' increasing expenditures in these nations and the favorable regulatory environment will stimulate regional demand. For instance, the Chinese government's Made in China 2025 plan emphasizes the use of items made at home. As a result, the nation's numerous automakers concentrate on constructing new production facilities to boost domestic output and drive up the industry's size. The development of telematics, communication, and entertainment applications will also contribute to regional growth. North America is expected to grow at a rapid rate through the forecast period. In the United States, Canada, and Mexico, rising connection demand and vehicle digitalization are expected to boost product demand during the forecast period. In addition, the need for vehicle wiring harnesses has been greatly fueled by the compact car segment's strong development potential as a result of space limitations. Government mandates that certain electronic safety systems, such as the Electronic Stability Program (ESP) and Anti-lock Braking System (ABS), be used in vehicles to prevent hazardous fuel emissions presenting opportunities for market growth.
Competitive LandscapeDenso, Eaton, Fujitsu, ABB Ltd., Idec Corporation, Littelfuse Inc., TE Connectivity, and Omron Corporation are significant players in the Automotive Relay market. Participants in the market concentrate on strategic partnerships and alliances to boost their position. They are working to enhance operations, motivated by measures to cut costs and seize synergies from mergers and acquisitions. For instance, Phoenix Contact sold its narrow safety relay (NSR) technology to TE Connectivity in December 2021. Following the acquisition of this technology, TE Connectivity will produce and sell NSR relays. The market for automotive relays has seen a rise in product advancements as a major trend. Major market participants in the automotive relay industry are creating cutting-edge goods to bolster their positions. For instance, a new CIT relay and the RoHS-compliant A6 Series of automobile relays were created by New Yorker Electronics, a US-based supplier of electronic components, in January 2021. This compact and lightweight relay series offer to switch current up to 30A, 1A, and 1C contact configurations, solderability at +260°C for 5 seconds, and low coil power consumption. A 60% share in Hella was acquired by the French automaker Faurecia in August 2021 for an unknown sum. By integrating the product portfolios and market reach of the two companies, Faurecia hopes to accelerate profitable growth while strengthening its strategic position through the development of new electrical and software content.
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Automotive Relay Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 15.70 Bn. Forecast Period 2022 to 2029 CAGR: 5.18% Market Size in 2029: US $ 23.52 Bn. Segments Covered: by Type • PCB relay • Plug-in relay by Application • Passenger vehicles • Commercial vehicles • Electric vehicles
Automotive Relay Market Key Players:• Denso • Eaton • Fujitsu • ABB Ltd. • Idec Corporation • Littelfuse Inc. • TE Connectivity • Omron Corporation • Sharp Corporation • NEC Corporation • Nippon-Aleph • Daesung Electric FAQs: 1. What is the study period of the market? Ans. The Global Automotive Relay Market is studied from 2017-2029. 2. What is the growth rate of the Automotive Relay Market? Ans. The Automotive Relay Market is growing at a CAGR of 5.18% over forecast the period. 3. What is the market size of the Automotive Relay Market by 2029? Ans. The market size of the Information Technology Market by 2029 is expected to reach 23.52 Bn. 4. What is the forecast period for the Automotive Relay Market? Ans. The forecast period for the Automotive Relay Market is 2022-2029. 5. What was the market size of the Automotive Relay Market in 2021? Ans. The market size of the Automotive Relay Market in 2021 was valued at US$ 15.70 Bn.
1. Global Automotive Relay Market: Research Methodology 2. Global Automotive Relay Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Automotive Relay Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Automotive Relay Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Automotive Relay Market Segmentation 4.1 Global Automotive Relay Market, by Type (2021-2029) • PCB relay • Plug-in relay 4.2 Global Automotive Relay Market, by Application (2021-2029) • Passenger vehicles • Commercial vehicles • Electric vehicles 5. North America Automotive Relay Market(2021-2029) 5.1 North America Automotive Relay Market, by Type (2021-2029) • PCB relay • Plug-in relay 5.2 North America Automotive Relay Market, by Application (2021-2029) • Passenger vehicles • Commercial vehicles • Electric vehicles 5.3 North America Automotive Relay Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Automotive Relay Market (2021-2029) 6.1. Europe Automotive Relay Market, by Type (2021-2029) 6.2. Europe Automotive Relay Market, by Application (2021-2029) 6.3. Europe Automotive Relay Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Automotive Relay Market (2021-2029) 7.1. Asia Pacific Automotive Relay Market, by Type (2021-2029) 7.2. Asia Pacific Automotive Relay Market, by Application (2021-2029) 7.3. Asia Pacific Automotive Relay Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Automotive Relay Market (2021-2029) 8.1 the Middle East and Africa Automotive Relay Market, by Type (2021-2029) 8.2. the Middle East and Africa Automotive Relay Market, by Application (2021-2029) 8.3. the Middle East and Africa Automotive Relay Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Automotive Relay Market (2021-2029) 9.1. South America Automotive Relay Market, by Type (2021-2029) 9.2. South America Automotive Relay Market, by Application (2021-2029) 9.3. South America Automotive Relay Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Denso 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Business Portfolio 10.1.4. Business Strategy 10.1.5. Recent Developments 10.2 Eaton 10.3 Fujitsu 10.4 ABB Ltd. 10.5 Idec Corporation 10.6 Littelfuse Inc. 10.7 TE Connectivity 10.8 Omron Corporation 10.9 Sharp Corporation 10.10 NEC Corporation 10.11 Nippon-Aleph 10.12 Daesung Electric