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Automotive Relay Market 2019: How it is Going to Impact on Global Industry to Grow in Coming Years
The Automotive Relay Market is estimated to grow at a moderate CAGR during the forecast period.
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Automotive Relay Market: Drivers & Restraints
With the increase in levels of safety and comfortable driving experience, offered by automotive relays; the demand for automotive relays has increased and expected to grow even more in the forecast period. With the fast pace development of PCBs (Printed Circuit Boards), lighter PCB relays are gradually replacing complicated plug-in devices. This factor is likely to increase the global PCB relay market. Also, PCB relays are expected to remain the dominant segment of the global relay market in the forecast period. Government regulations to include safety components in automobiles to lessen the number of casualties is forecasted to drive the automotive relay market during the forecast period. These devices can be used in safety systems like head restraints, heads-up displays, steering systems, seatbelts, and airbags. With the increase in the use of technologies like GPS, weather, temperature and traffic information, demand for automotive relays is expected to grow at a high CAGR. With the increase in demand for comfort levels, concepts like sunroof control, keyless entry systems, mirror control and infotainment systems have emerged. The increase in the demand for the Hybrid Electric Vehicle (HEV) segment is also a key factor that is likely to drive the growth of global Automotive Market.
In the automotive industry, lack of standardization is a factor that can restrain the growth of Automotive Relay Market. Automotive relays are weaker compared to the conventional plug-in relays when factors like the ability to withstand voltage fluctuations, vibrations, and high temperature, and robustness are considered. Hence, in many applications, especially powertrain systems, conventional plug-in relays are still preferred. This factor may also restrain the growth of Automotive Relay Market in the forecast period.
Automotive Relay Market: Market Segmentation
Automotive Relay Market can be segmented based on product type, application type and regions.
Based on the application type, Automotive Relay Market is segmented into:
Powertrain Systems
Body & Chassis
Convenience
Safety & Security
Driver Information Systems
Based on product type, Automotive Relay Market is segmented into:
PCB relay
Plug-in relay
Based on regions, Automotive Relay Market is segmented into:
North America
Europe
Asia Pacific
RoW
Automotive Relay Market: Regional Outlook
Automotive Relay Market share of Europe was 24% from the total global revenue in 2016. Convenience applications and powertrain systems are largely responsible for the regional sales in the Asia Pacific region. The Asia-Pacific region is expected to show a moderate CAGR in the growth of Automotive Relay Market during the forecast period. The Asia-Pacific region is gradually being called the automobile manufacturing hub because of the ease of availability of raw materials and comparatively lower labor costs. Owing to high demand and significant vehicle production in China, China is estimated to show significant growth trends in the Automotive Relay Market. LCV (Light Commercial Vehicle) relay segment is also estimated to grow at a high CAGR in the forecast period. Specifically, the North America region is one of the regions where this growth is expected to be witnessed.
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Automotive Relay Market: Key Players
Some of the major players of the Automotive Relay Market are:-
Salzer Electronics Ltd.
ABB Ltd.
Panasonic Corporation
Deltrol Controls
Omron Corporation
American Zettler Inc.
TE Connectivity
Fujitsu
Nippon-Aleph
Daesung
NEC Corporation
Denso Corporation
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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