Automotive Relay Market 2024 | Top Key Participants are Panasonic, ABB, Denso, Eaton, Fujitsu Global, Microsemi Corporation, Littelfuse, NEC Corporation, Sharp Electronics Corporation
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Asia Pacific automotive relay market is anticipated to dominate the industry revenue share over the forecast timeframe. This growth is attributed to increased vehicle manufacturing across the region, especially in emerging economies including India, China, and Indonesia. China is a substantial contributor in the regional industry revenue generation. Increasing automobile production coupled with rising domestic demand will propel the country’s share over the projected time span.
Powertrain systems are anticipated to account for approximately 23.5% automotive relay market revenue share over the forecast timeline owing to high usage of plug-in relays in these systems. Plug-in relays are preferred in powertrain systems due to its features such as ability to sustain in elevated temperatures, fluctuations, and vibrations. The powertrain systems are susceptible to frequent voltage fluctuations along with high surge loads, thus require high switching capacity, and escalating the industry demand over the next eight years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Beta Electric Industry Co. Ltd.
3. Coto Technology, Inc.
4. Crydom Inc.
5. Daesung Electric
6. Deltrol Controls
7. Denso Corporation
8. Eaton Corporation
10. Guardian Electric Manufacturing Company
11. Idec Corporation
12. International Rectifier Corporation
13. Megatone Electronics Corp.
14. Microsemi Corp.
15. Naidian Group
16. Nippon Aleph Corporation
17. Panasonic Corporation
18. Salzer Electronics
19. Weidmuller Interface
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Electronic power steering is one of the convenience system that witnesses high product adoption rate owing to its specifications such as large switching capacity, space saving, compact size, and high level of compatibility. Due to these notable features, the product acceptance is also high in other convenience applications including infotainment, interior lights, and keyless entry systems, supporting the automotive relay market dominance over the forecast time line.
Convenience systems holds the highest industry revenue share and will continue its dominance over the forecast timeframe. The modern HVAC systems in vehicles are equipped with numerous switches for the ease of driver. In 2016, convenience systems accounted for over 34% of the automotive relay market share in terms of unit shipments.
Continuously rising demand for innovative products along with growing automobile production is boosting the automotive relay market growth over the forecast timespan. Industry gains are credited to advancements in miniaturization and high contact capability development to address limitations during its employment in the vehicles’ ECU. Ongoing developments in printed circuit boards (PCBs) have led to replacement of complex and traditional relays. Technological advancements also support in weight reduction and ease of installation.
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ABB, TE Connectivity, Cynergy3 Components Corporation, Denso Corporation, Fujitsu, Eaton Corporation, Omron Corporation, Littelfuse, and NEC Corporation are among the prominent players in the automotive relay market share. Other notable players include Idec Corporation, Panasonic Corporation, Relpol, Sharp Corporation, Salzer Electronics, Microsemi Corporation, and Rectifier Corporation.
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