Press release
Automotive Relay Market Size 2024: Global Share, Industry And Report Analysis By 2031 | Cobham Aerospace Communications Diehl Aerospace GmbH Luminator Technology Group
Automotive relay market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2023-2030). The growing automotive industry is a key factor driving the demand for the global automotive relay market. An automotive relay is a type of electrical switch that works as a control device within a vehicle. It manages the flow of electrical energy within various systems and helps in controlling and automating electrical functions in a vehicle. Mainly, automotive relays are used to regulate high-current applications such as lighting, motors, and ignition systems, as well as other electronic components. Relays are designed to protect sensitive electronic components, improve safety, and improve overall efficiency in vehicle electrical systems.Get Free Sample link @ https://www.omrglobal.com/request-sample/automotive-relay-market
Among vehicle types, the demand for the automotive relay is expected to significantly in electric vehicles (EV). The primary factor of growth is the growing adoption of EVs globally. According to the International Energy Agency (IEA), electric car markets are growing significantly as sales exceed 10 million in 2022. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Apart from these growing technological advancements and the complexity of their electrical systems in the EVs. In EVs, automotive relays are used to manage various electrical functions, from battery management systems and power distribution to the control of electric motors and charging mechanisms. Additionally, the increase in advanced features in electric vehicles, like regenerative braking systems, thermal management, and advanced sensor networks, demands accurate and dependable control, which is made possible through the application of automotive relays.
full report of Automotive Relay Market available @ https://www.omrglobal.com/industry-reports/automotive-relay-market
• Market Coverage
• Market number available for - 2024-2031
• Base year- 2024
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others
Global Automotive Relay Market Report Segment
By Relay type
• PCB Relay
• Plug-in Relay
• High Voltage Relay
• Others (Signal relay, time relay, protective relay)
By Vehicle Type
• Passenger
• Commercial
• Electric
By Application
• Safety and security
• Lights system
• Engine Management Module
• Other (Power Window, Sunroof, ABS Control)
Global Automotive Relay Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
The Report Covers
• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the automotive relay market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/automotive-relay-market
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
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