Automotive Relay Market with Emerging Trends and Growth Factors by 2026 - Delphi Automotive PLC, Denso Corporation, Fujitsu Limited, ABB Group, Eaton Corporation, Hella KGaA Hueck & Co.
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Automotive Relay is an electromechanical or electronic device that enables a heavy load to be controlled with a nominal input of current & voltage. Automotive relay is an electromagnetic switch capable of turning on or off a much larger electric current while being operated by a relatively small electric current. Automotive relay also assists in conserving energy, increasing the life of a device, and improving the overall efficiency of a device.
Automotive Relay Market generated USD 10.00 billion in 2017 and is anticipated to grow at a CAGR of 7.2% during the forecast period according to a new research published by Polaris Market Research.
The Asia-Pacific Automotive Relay Market generated the highest revenue in 2017 owing to increasing automotive demand due to increasing disposable income and improving living standards in the region. The established automotive industry, and strict government regulations have resulted in increasing adoption of automotive relay in the region. The high penetration of electric vehicles in the region further influences the market growth. The increasing demand for automotive relays from countries such as Japan, India, and South Korea, along with economic growth in this region is expected to provide growth opportunities during the forecast period.
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Growth Factors: -
The demand for Automotive Relay has increased owing to increasing need for vehicular safety, and growing demand for luxury vehicles. The growth in global automotive industry and increasing modernization of vehicles has resulted in Automotive Relay Market growth. The growing adoption of electric vehicles, and introduction of stringent government regulations regarding vehicular safety further increase the demand for automotive relays. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities for market during the forecast period.
Key Vendors and Competitive Landscape: -
The leading companies profiled in the Automotive Relay Market report include: -
• Delphi Automotive PLC
• Denso Corporation
• Fujitsu Limited
• ABB Group
• Eaton Corporation
• Hella KGaA Hueck & Co.
• Robert Bosch GmbH
• NEC Corporation
• Siemens AG
• TE Connectivity Ltd.
Automotive Relay Market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
Table of Content of Automotive Relay Market:
Chapter 1. Overview and Scope
Chapter 2. Market Summary
Chapter 3 Automotive Relay Market Size and Forecast
Chapter 4. Dynamics and Segmentation
Chapter 5. Detailed Insight on Key Company
Chapter 6. Research Methodology and Reference
Chapter 7. Competitive Landscape
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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