Europe Automotive Relay Market 2021 SWOT Analysis and Key Business Strategies by Leading Players – Robert Bosch GmbH, Denso Corporation, Fujitsu, Panasonic

Latest research on Europe Automotive Relay Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Europe Automotive Relay market. This report included a special section on the Impact of COVID19. Also, Europe Automotive Relay Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Europe Automotive Relay industry.

Europe Automotive Relay market is growing at a CAGR of 7% during the forecast period (2021-2026).

The Europe Automotive Relay market is highly competitive and consists of a number of major players. Top Companies like Robert Bosch GmbH, Denso Corporation, Fujitsu, Panasonic, TE Connectivity, Omron Corporation, Hella KGaA HUECK and CO., Nidec Corporation, Johnson Electric

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Industry News And Developments:

June 2019, TE Connectivity has announced acquisition of the Kissling group of companies. Kissling Group is a provider of high-power and high-voltage relays and switches for the commercial transportation, industrial, military, aviation industries, and other applications.

Scope of the Report

- Owing to the factors such as the Brexit, which is a huge step for the European union economy, the impact of ongoing trade war between two major economies of the world, there is a slowdown in the automobiles sector all around the world. But the European region has still outperformed the global market during the year 2019.

- The demand for electric vehicles in the region is increasing with a very high rate. In 2019, 564,206 plug-in electric cars were sold in Europe, which is higher by 45% numbers in 2018.

- However, there are many small local players present in the market which are providing relays for vehicles is a concern for the major players and the industry.

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Key Market Trends

Electronic Vehicles and Advancement of Technology Demand Driving Growth

With the introduction of new technologies like ADAS, Digital Cockpit systems and advancement in infotainment systems, the demand for automotive relays is expected to boom. Several major players are spending heavily on inclusion of these technologies to attract more demand in the region. For instance, in January 2020, AU Optronics announced its latest display technologies and applications that are transforming smart and connected vehicles. The company offers industry’s first and largest 12.1-inch full color TFT driven micro LED display, with micro LEDs less than 30um in size to light each pixel independently, reaching a pixel density of 169 PPI with high dynamic range to enable crucial driving data to be presented in a crisp and clear way.

Germany Remains the Largest Market

With the change in tax regime proposed by the European Union, the passenger cars sales in the country were up by 5% and reached to 3,607,258 cars which is the largest growth in the country during the last decade.

The German government and car industry have agreed to increase joint subsidies for electric car buyers and extend the program to 2025. Under the agreement, consumer subsidies for electric cars costing less than Euro 40,000 (USD 44,500) will increase to Euro 6,000 (about UDS 6,700) from Euro 4,000. Purchasers of plug-in hybrids in this price range would be given a subsidy of Euro 4,500, up from Euro 3,000. These initiatives have resulted in increase in demand for electric vehicles in the region. During the year 2019, new electric passenger vehicle registrations in Germany in 2019 increased by 75.5% to 63,281 battery-electric cars. This increased electric cars' share of the German new car market from 1.05% in 2018 to 1.75% in 2019.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Europe Automotive Relay Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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