Press release
Automotive Relay Market Report 2024| ABB, American Zettler Inc, Beta Electric Industry Co. Ltd., Coto Technology, Inc., Crydom Inc., Cynergy, Components Corporation, Daesung Electric, Deltrol Controls, Denso Corporation, Eaton Corporation, Fujitsu, Intern
Automotive Relay Market
The extensive demand for highly customized, tech-driven relays in passenger & commercial cars is certain to propel automotive relay market to greater heights. In recent times, subject to the massive growth in the domains of power electronics, consumer electronics, telecom, defense & aerospace, and medical electronics, the deployment of general purpose relays has nevertheless, been observing an exponential rise. Furthermore, the advent of IoT has commendably impacted the penetration of automotive relay industry in particular, given the rapid next-gen advancements in the automotive sector, such as vehicle electrification, connected cars, and autonomous driving. As per reliable sources, over 250 million vehicles are projected to be connected globally by 2020, with the rate of installed connectivity units in automobiles expected to rise by nearly 67%.
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Merely a month ago, Japan's automotive behemoths, Toyota, Mazda, and Denso joined hands to develop battery-powered cars for reducing GHG emissions and improving the overall vehicle performance. Pursuing the path set by these giants, other automobile manufacturers have also been incorporating connected technologies in passenger vehicles, light trucks, minivehicles, and SUVs. The automotive sector, with the proliferation of smart tech, has been emerging as a transformative new domain, as automobile manufacturers have been keenly bringing about innovation in lightweight materials, power trains, active safety & assisted driving, and connectivity, which would ultimately create lucrative avenues for automotive relay market.
It is prudent to mention that relays are essentially deployed in safety & security systems, convenience systems, power trains, and body & chassis systems to enhance their efficiency. Convenience systems in fact, are specifically expected to make a mark in automotive relay market over the next few years. Driven by the robust demand for relays in seat control, electronic power steering, communication, sunroof control, and infotainment, it has been forecast that automotive relay industry share from convenience systems will record a CAGR of 5% over 2017-2024.
The presence of prominent automobile manufacturers in the North America is expected to substantially increase the product demand in the region. Research in fact, claims North America automotive relay market to grow at a rate 5% over the coming seven years, having amassed a revenue of more than USD 2 billion in 2016. The rapidly growing demand for relays, especially in the automotive aftermarket in countries such as Mexico is expected to massively augment the regional business expansion.
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Some Point from Table of Contents:
Chapter 4 Automotive Relay Market, By Product
4.1 Global automotive relay industry share by product, 2016 & 2024
4.2 PCB relay
4.2.1 Market estimates and forecast from PCB relay, 2012 - 2024, (Million Units) (USD Million)
4.2.2 Market estimates and forecast from PCB relay by region, 2012 - 2024, (Million Units) (USD Million)
4.3 Plug-in relay
4.3.1 Market estimates and forecast from plug-in relay, 2012 - 2024, (Million Units) (USD Million)
4.3.2 Market estimates and forecast from plug-in relay by region, 2012 - 2024, (Million Units) (USD Million)
Chapter 5 Automotive Relay Market, By Application
5.1 Global automotive relay industry share by application, 2016 & 2024
5.2 Powertrain systems
5.2.1 Market estimates and forecast for powertrain systems, 2012 - 2024, (Million Units) (USD Million)
5.2.2 Market estimates and forecast for powertrain systems by region, 2012 - 2024, (Million Units) (USD Million)
5.3 Body & chassis
5.3.1 Market estimates and forecast for body & chassis, 2012 - 2024, (Million Units) (USD Million)
5.3.2 Market estimates and forecast for body & chassis by region, 2012 - 2024, (Million Units) (USD Million)
5.4 Convenience
5.4.1 Market estimates and forecast for convenience, 2012 - 2024, (Million Units) (USD Million)
5.4.2 Market estimates and forecast for convenience by region, 2012 - 2024, (Million Units) (USD Million)
5.5 Safety & security
5.5.1 Market estimates and forecast for safety & security, 2012 - 2024, (Million Units) (USD Million)
5.5.2 Market estimates and forecast for safety & security by region, 2012 - 2024, (Million Units) (USD Million)
5.6 Driver information
5.6.1 Market estimates and forecast for driver information, 2012 - 2024, (Million Units) (USD Million)
5.6.2 Market estimates and forecast for driver information by region, 2012 - 2024, (Million Units) (USD Million)
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