Press release
Automotive Relay Market 2022 | Market Worth US$ 21.2 Billion by 2027 | Growth Rate (CAGR) of 5.6% | IMARC Group
Automotive Relay Market Report 2022-2027
The global automotive relay market reached a value of US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027.
An automotive relay represents an electromechanical switching device wherein coils generate magnetic force to control and operate a high current circuit in vehicles, such as vans, cars, trucks, trailers, etc. It is usually installed in harnesses, infotainment systems, and box modules, including auxiliary lamp, fan motor, horn, headlight, blower motor, rear and front area, engine, body control, powertrain, roof, seat, door, etc. Automotive relay enhances passenger comfort, supports advanced safety features, can operate in a harsh environment, etc. Presently, it is commonly available in several forms, ranging from plug-ins and printed circuit boards (PCBs) to high-voltage and nominal coil voltage contactors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
• Detailed analysis of the global market share
• Market Segmentation
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape
• Strategies of major players and product offerings
Market Trends and Drivers:
The increasing utilization of off-road vehicles for construction purposes, owing to the growing investments in infrastructural development, is primarily driving the automotive relay market. Additionally, the rising number of fatal road accidents is augmenting the product adoption in switches for airbags, backup sensing systems, energy-absorbing steering, seat belts, head-up display (HUD), head restraints, etc., which is further catalyzing the market growth.
Apart from this, the inflating need for vehicle electrification, on account of the implementation of various stringent regulations by government bodies across countries on fuel efficiency, is acting as another significant growth-inducing factor. Moreover, the emerging trend of connected and modern vehicles is also stimulating the use of compact relays in power windows, power steering, sunroof, cruise control, navigation services, etc. Besides this, the escalating demand for the latest infotainment systems in automobiles is projected to fuel the automotive relay market in the coming years.
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/automotive-relay-market
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
• ABB Ltd.
• BorgWarner Inc.
• DENSO Corporation
• Eaton Corporation plc
• Fujitsu Limited (Furukawa Co. Ltd.)
• HELLA GmbH & Co. KGaA
• Littelfuse Inc.
• LS Automotive India Pvt Ltd.
• OMRON Corporation
• Panasonic Corporation
• Robert Bosch GmbH
• Siemens AG
• TE Connectivity
Breakup by Product:
• PCB Relay
• Plug-in Relay
• High Voltage Relay
• Others
Breakup by Application:
• Powertrain Systems
• Body and Chassis
• Convenience
• Safety and Security
• Driver Information
Breakup by Vehicle Type:
• Passenger Vehicles
• Commercial Vehicles
• Electric Vehicles
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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