Automotive Relay Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2028 | ABB Group, Denso Corporation, Eaton Corporation.

Increasing numbers of advanced electrical components in a vehicle are expected to drive the automotive relay market growth over the forecast period. This has resulted in some of the key advances that companies operating on the market have in consolidating their market positions and searching for further opportunities for niches.

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A relay is a system used to separate or alter the state of an electrical circuit from one state to the next. Over the past decade, electric automotive parts have diversified, leading to an increase in the number of relays used as switching devices, as well as differences in the characteristics needed for each relay. The industry is expected to see steady growth over the forecast period due to advances in miniaturization and development of high contact capabilities to overcome increasing space constraints in the Electric Control Unit (ECU) of vehicles.

Segmentation for better understanding of this market and its growth prospects:

Automotive Relay Market has been segmented by type and by components. By type, it is further segmented as PCB relay, plug-in relay, high voltage relay. Based on the component it is segmented as a powertrain system, convenience, safety & security, and driver's information.

It is estimated that PCB relay has the largest share in the automotive relay industry. Its use in most electronic applications including ABS, cruise control, doors, power steering, power windows, and sunroof.

Stringent rules by various governments on car safety should help the relay market grow significantly. As there are many electrical and hybrid components used in electric and hybrid vehicles, the increasing production of electric & hybrid vehicles is also boosting the market for high voltage relays.

Some of the key Impact Factors:

o The growing number of advanced electrical components in a vehicle

o High demand for electric & hybrid vehicles to boost the relay market

Regional segmentation and analysis to understand growth patterns:?

By region, North America is estimated to dominate the automotive relay market in terms of market demand. The North American automotive industry is recognized internationally as one of the fastest-growing sectors. Domestic OEMs such as Chrysler, Ford, and General Motors, along with some existing European and Japanese OEMs dominate this. This field is one of the automotive industries with the most technological advances.

With many multinational manufacturers based in that country, North America and Western Europe were traditional markets for the automotive sector. In these regions, the automotive sector has been competitive in terms of technological advances and product shifts. Some of the main influencing factors in this area have been the need for lightweight materials, cleaner pollution, and renewable fuels. The sector has also undergone a gradual recovery from recent decades of slowdowns. Some of these factors are expected to affect the dynamics of the vehicle relay market during the forecast period in North America and Western Europe. The US, Germany, France, Italy, UK, and Spain have been some of the major economies for the automotive relay market in the region.

During the forecast period, Asia Pacific is expected to be the fastest-growing region in the automotive relay market. With major investments by global companies in the region, this country has been one of the lucrative markets for the automotive sector in the last few decades. China, Japan, India and South Korea were some of the major car relay markets in the Asia Pacific region.

With the development of the region's automotive sector, the Middle East offers a strong market opportunity. Countries including the UAE, Saudi Arabia, Qatar, and Iran have, over the past few decades, diversified the industrial sector to boost the economy. During the forecast period, other regions like Eastern Europe, South America, and Africa are projected at emerging markets with increasing demand.

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The report provides insights about the activities of top companies: ABB Group, Denso Corporation, Eaton Corporation, Fujitsu Limited, Omron Corporation, Mitsubishi Electric, Siemens AG, Panasonic Corporation.

Market Segmentation:

By Type
PCB Relay
Plug-In Relay
High Voltage Relay

By Components
Powertrain System
Convenience
Safety & Security
Driver's Information

By Region:

North America
By Country (US, Canada, Mexico)
By Type
By Components

Western Europe
By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
By Type
By Components

Eastern Europe
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Components

Asia Pacific
By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
By Type
By Components

Middle East
By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
By Type
By Components

Rest of the World
By Region (South America, Africa)
By Type
By Components

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This release was published on openPR.