Press release
Automotive Relay Industry Expected to Reach $24.75 Billion by 2029 at 7.5% CAGR
Automotive Relay
Automotive Relay Market Value Projection: How Much Will the Market Size by 2025?
In the past few years, there has been a significant expansion in the automotive relay market. This market is projected to escalate from $17.56 billion in 2024 to $18.53 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. The expansion during the historic period can be accredited to factors such as shifting consumer preferences, government regulations, rising utilization of electric vehicles, burgeoning demand for luxury vehicles, and the increasing complexity of vehicle electrical circuits.
What Will Be the Market Growth Forecat for Automotive Relay in 2029?
In the coming years, substantial growth is anticipated in the automotive relay market, which is projected to reach $24.75 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.5%. This growth trajectory can be attributed to factors such as the rising demand for connected car technologies, the integration of advanced driver assistance systems (ADAS), an emphasis on energy efficiency in auto electronics, the creation of smart and self-diagnosing relays and a renewed focus on safety and performance improvements. Key trends for the forecast period are the miniaturization of relay components, the adoption of solid-state relay technologies, the heightened use of intelligent and programmable relays, the integration of cybersecurity protocols into relay systems and technological advancements.
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What Are the Core Competitive Drivers in the Automotive Relay Industry?
The escalating manufacturing output of both commercial and passenger vehicles is predicted to drive the expansion of the automotive relay market. Passenger vehicles serve the purpose of moving individuals, whereas commercial vehicles carry higher capacities for commercial applications. The steep manufacturing requirements necessitate the inclusion of numerous automotive components, such as automotive relays, in newly made vehicles, thereby spurring the growth of the automotive relay market. For instance, the European Automobile Manufacturers' Association, based in Belgium, reported that new car registrations in August 2024 saw a 3.9% increase, exceeding 6.5 million units only seven months into the year. The most significant markets in the union experienced modest yet positive growth, with upticks reported in Spain (+5.6%), Italy (+5.2%), Germany (+4.3%), and France (+2.2%). As such, the skyrocketing vehicle production levels are fueling the expansion of the automotive heat exchanger market.
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Which Automotive Relay Market Segment Is Projected to See the Fastest Growth?
The automotive relay market covered in this report is segmented -
1) By Product: PCB Relays, Plug-In Relays, Other Products
2) By Relay Type: Solid State Relays (SSR), Hybrid, Electromechanical
3) By Vehicle Type: Passenger Vehicles, Commercial Vehicles, Electric Vehicles
4) By Application: Powertrain Systems, Body And Chassis, Convenience, Safety And Security, Driver Information
Subsegments:
1) By PCB Relays: Surface Mount PCB Relays, Through-Hole PCB Relays
2) By Plug-In Relays: Miniature Plug-In Relays, Standard Plug-In Relays, Power Plug-In Relays
3) By Other Products: Solid State Relays (SSRs), Automotive Relay Modules, Electromechanical Relays
Which Trends Are Opening New Opportunities in the Automotive Relay Market?
In the automotive relay market, a primary trend is the emergence of product innovations. Key players in the sector are creating revolutionary products to bolster their market position. Take, for example, the Japan-based technology firm Fujitsu, which in April 2023 introduced the 30A Automotive Relay, the world's smallest of its type in the 30A category. This compact relay, the FTR-G3, can switch 30A of current and is encased in a miniaturized plastic-sealed package with dimensions of just 6.6 mm x 13.7 mm x 14 mm. Due to its 30A fuse rating, the FTR-G3's compact design offers an optimal solution for driving power windows, defoggers, seat heaters, lamps, and wipers. Offering high contact capacity, this component guarantees a minimum of 100,000 operations at 14VDC and 30A and effectively works within a broad temperature range from -40°C to 125°C. Furthermore, at 20°C, the energy consumption stands at about 640mW.
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Who Are the Leaders in the Automotive Relay Market?
Major companies operating in the automotive relay market include Fujitsu Ltd., Denso Corporation, Panasonic Corporation, Tyco Electronics Connectivity Ltd., Omron Corporation, HELLA GmbH & Co KGaA, Littelfuse Inc., Microchip Technology Inc., Robert Bosch GmbH, Eaton Corporation plc, Asea Brown Boveri Ltd., Sharp Corporation, Nippon Electric Company Ltd., Daesung Electric Co. Ltd., Mouser Electronics Inc., Delphi Technologies plc, Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, Picker Components, Song Chuan Precision Co. Ltd., Nidec Corporation, American Zettler Inc., Kyosan Electric Manufacturing Co. Ltd., Ningbo Forward Relay Corporation Ltd., Jideco Co. Ltd., Sanyou Corporation, Guizhou Space Appliance Co. Ltd., Yoto Electric Co. Ltd.
Which Regional Automotive Relay Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the automotive relay market in 2024.Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive relay market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
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