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Global Automotive Relays Market Top Leading Players with Strategies and Forecast 2028

05-24-2022 01:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

The automotive relays market is anticipated to grow at a significant CAGR of 5.2% during the forecast period (2022-2028). A relay is a type of switch that is used to connect circuits. Relays are made up of an electromagnet in which the input current drives the coil to produce a magnetic field, which forces the contacts to meet, completing the circuit. The contacts may not come together due to a weak magnetic field if the input voltage is inadequate. The rising need for fuel-efficient vehicles, as well as technical improvements in in-vehicle electronics, are important drivers driving the demand for relays in automobiles. The demand for sophisticated relays with lightweight and high-performance qualities is influencing manufacturers to invest in solid-state relay production, as opposed to traditional heavy electromechanical relays, which is a new opportunity for development in the market.
 
The global automotive relays market is segmented based on type and application. Based on the type, the market is sub-segmented into PCB relay and plug-in relay. Among these types, the plug-in relay segment is expected to propel the growth of the market. Solid-state plug-in relays are in great demand as they can handle large-rated currents (50A-80A) and low operating voltages (less than 400V), just like electromechanical relays. Plug-in relays, in addition to having a longer service life, have a simple design structure and are lightweight, making them a good substitute for heavy electromechanical relays. Automobiles use solid-state plug-in relays for a variety of applications, including electrically heated catalytic converters, fuel pumps, radiator fans, headlights (low and high versions), and defoggers, among others. Based on the application, the market is sub-segmented into locking systems, engine management modules, lamps/lights, power windows, sunroofs, abs control, and others.
 
The market players are also contributing significantly to the market growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in December 2021, TE Connectivity announced that the company acquired narrow safety relay (NSR) technology from Phoenix Contact Ltd. With this technology acquisition, TE Connectivity will now be involved in manufacturing and marketing NSR relays.

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Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Robert Bosch GmbH, Denso Corp., Fujitsu Ltd., Panasonic Corp., MITSUBA Corp., TE Connectivity, Omron Corp., Hella KGaA Hueck & Co., and Nidec Corp.,among others.

A full report is available at: https://orionmarketreports.com/global-automotive-relays-market/109282/
 
Global Automotive Relays Market Report by Segment
By Type
PCB Relay
Plug-in Relay
By Application
Locking System
Engine Management Module
Lamps/Lights
Power Window
Sunroof
ABS Control
Others

Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404

About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

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