Press release
Thailand Automotive Relay Market Size Analysis 2022 with Growth Rate, Top Regions, Key Players and Forecast to 2028
The Thailand automotive relay market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028).The rise in government incentives while supporting the electric vehicle (EV) adoption is anticipated to drive the growth of the Thailand automotive relay market. For instance, in February 2022, Thailand released the latest government incentives for its electric vehicle (EV) industry. This incentive is a part of its ambitious plan to transform 50.0% of its auto production into EVs by 2030 to become a production base for cleaner vehicles in Southeast Asia. The incentive plan includes a 40.0% reduction in import duty for completely build-up (CBU) of battery EVs priced up to $61,805 and a 20.0% reduction for those priced between $61,805 and $211,278 from 2022 to 2023. Moreover, excise tax cut from 8.0% to 2.0% for imported EVs, which is predicted to add 7000 EVs in the first year. In addition, the subsidy programs are funded by $90.4 million from the 2022 central budget and longer-term ($1.2 billion) investments in the EV industry between 2023 and 2025. This subsidy program also allows exemption of import duties on important electrical components such as batteries, traction motors, compressors for EVs, drive control units, battery management systems, and others.
(Get 15% Discount on Buying this Report)
Get Sample Copy of Thailand Automotive Relay Market at: https://orionmarketreports.com/request-sample/?id=110818&submit=Request+Sample%0D%0A
Also, the EV incentive package reflects ASEAN's investment into environmentally friendly transportation to align with a global shift to EVs by major players. For instance, as per the 2021 EV report, the total stock of EV vehicles accounted 3.4 million in 2019 and is projected to grow amid concerns for the environment and improving economic development. Within Southeast Asia, Thailand has ranked first in terms of auto production output and 11th in 2019. Furthermore, Thailand plans to attract $12.08 billion in investments over the fourth coming years and support 1.2 million EVs and 690 charging stations by 2036. Therefore, such incentives coupled with subsidy programs are anticipated to fuel the demand for Thailand's automotive relay market.
A full report of Global Thailand Automotive Relay Market is available at: https://orionmarketreports.com/thailand-automotive-relay-market/110818/
Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Product
o By Relay Type
• Competitive Landscape- Panasonic Holdings Corp., Mitsuba Corp., Denso Corp., Robert Bosch GmbH, and Fujistu Ltd., among 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?
o Deviation from the pre-COVID-19 forecast
o 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?
Thailand Automotive Relay Market Report by Segment
By Product
• PCB Relays
• Plug-in-Relays
By Relay Type
• Solid state Relays(SSR)
• Hybrid
• Electromechanical
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 an 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 the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Thailand Automotive Relay Market Size Analysis 2022 with Growth Rate, Top Regions, Key Players and Forecast to 2028 here
News-ID: 2641826 • Views: …
More Releases from Orion Market Reports
Sodium Cromoglicate API Market to Expand With Strong Development by 2031
The Sodium Cromoglicate API Market size is expected to grow at an annual average of CAGR 2% during the forecast period (2024-2031). Sodium Cromoglicate API (active pharmaceutical ingredient) is a type of medication used to treat allergic conditions such as hay fever, allergic conjunctivitis, and asthma. It works by stabilizing mast cells and preventing the release of allergic substances that cause symptoms like itching, redness, and swelling.
Sodium Cromoglicate API Market…
Soda Ash and Aluminium Trihydrate (ATH) Market Will Generate Record Revenue by 2 …
The Soda Ash and Aluminium Trihydrate (ATH) Market size is expected to grow at an annual average of CAGR 4% during the forecast period (2024-2031). Soda Ash, also known as sodium carbonate, is a white, odorless powder used in manufacturing glass, detergents, chemicals, and other industrial applications. Aluminium Trihydrate (ATH) is a white, non-toxic powder primarily used as a flame retardant in plastics, rubber, and textiles.
Soda Ash and Aluminium Trihydrate…
Single Crystal Silicon Wafers Market Provides Information on Historical Growth, …
The Single Crystal Silicon Wafers Market size is expected to grow at an annual average of CAGR 4% during the forecast period (2024-2031). Single crystal silicon wafers are thin, disc-shaped substrates made from a single crystal of silicon. They are a fundamental component in the semiconductor industry and serve as the foundation for manufacturing integrated circuits (ICs) and other microelectronic devices.
Single Crystal Silicon Wafers Market research analyzes the entire market,…
Silicone For Personal Care Market Growth Drivers, Developments, Technology And F …
The Silicone For Personal Care Market size is expected to grow at an annual average of CAGR 2% during the forecast period (2024-2031). Silicone for personal care refers to the use of silicone-based ingredients and formulations in various cosmetic and personal care products. Silicone compounds are valued in the personal care industry for their unique properties, including their smooth texture, excellent spreadability, water resistance, film-forming ability, and compatibility with skin…
More Releases for Thailand
Medical Education Market In Thailand, Medical Education Industry In Thailand, Th …
Growth of Medical Education System in Thailand: Siriraj Hospital was first modern medical hospital of Thailand founded in 1888 and thus became the first medical school of country. By 2006, there were twelve medical schools across the country and now there are twenty three medical schools. The medical education system has seen incremental growth over the years. Most of educational institutions are publically funded. The initial phase of medical training…
Thailand Medical Education Market, Thailand Medical Education Industry, Covid-19 …
The report titled “Landscape of Thailand Medical Education Market-Increasing Number of Top Rated Universities coupled with Undertaking Cutting Edge Research Driving the Industry” provides a comprehensive analysis of the Medical Education system in Thailand along with its merits and drawbacks. It includes detailed analysis on Physician Education as well as specialized courses such as Internal Medicine and Ophthalmology in Thailand. The report also covers overview of the medical education industry…
Used Car Market in Thailand, Used Car Industry in Thailand, Covid-19 Impact Thai …
Key Findings
One negative for used cars is the 7% VAT that’s added to the bill if the customer buys from a showroom or used car dealer, or use a loan to finance the purchase.
Consumers are shifting away from traditional methods & increasing using online platforms for their used car buying/selling journey. Many start-ups and auto portals present in Southeast Asia are entering the Thailand market or expanding their presence through…
Thailand Used Car Market, Thailand Used Car Industry, Thailand Used Car Market R …
Increasing Internet Penetration: There were 52 million internet users in Thailand in January 2020 Internet penetration in Thailand was 75% during the same period. As the smart phone and internet penetration in Thailand is increasing, the used car dealers have been able to increase their footfall. They are using digitalization to make market offerings attractive. Digital platform provide online services such as photos and videos and instant finance which are…
Ophthalmology Market in Thailand, Ophthalmology Industry in Thailand, Covid-19 I …
The COVID-19 virus has been understood to cause eye-related complications including the formation of nodules in the macular region, cranial nerve palsy, retinal vein occlusion and AMD (Age-related Macular Degeneration)
Thailand completed the period for completing WHO launched Vision 2020 program. The program had 3 key targets including control of diseases that affect eye health, development of human resources and provision of appropriate technology and infrastructure
The King and Queen of…
Thailand Ophthalmology Market, Thailand Ophthalmology Industry, Thailand Ophthal …
The report titled “Thailand Ophthalmology Market Outlook to 2025 By Type of Consultation (Eye Strain/Aesthenopia, General Check-Up, Decreased/Reduced Vision, Allergic Reaction, Deformities of Eye/Eyelids), By Type of Surgery (Cataract, Refractive Error, Glaucoma, Retina Related Diseases and Others), By Region (Bangkok, Central, South, North-East and North) and By Type of Hospital (Single-Specialty and Multi-Specialty)”provides a comprehensive analysis on the status quo of the ophthalmic healthcare in Thailand. The report covers various…
