Automotive Relay Market 2018: Global Segments, Industry Growth, Top Key Players, Size and Recent Trends by Forecast to 2023

Automotive Relay Market 2018

Automotive Relay Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2023. Automotive Relay Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023

Automotive Relay Market Information Report by Type (PCB, Plug-In, High Volt, Protective, Time Relay), Load Type (Small Load, Medium Load, and Heavy Load), Electric Vehicle Type (Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle, and Battery Electric Vehicle), and region.

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Market Scenario:

A relay is an electric switch that uses electromagnet to mechanically operate the switch. It is generally used when there is need to control a circuit by separating a low power signal. Automotive relay is located in the entire electrical system in the automotive where there is need to control the power. They allow a small electric current to flow through the circuit in order to control higher current circuit. Since automotive relay play an important role in the vehicle, it is essential to use high performance and long lasting components in the manufacture of automotive relay. There are several factors to be considered while choosing an automotive relay such the kind of component required, and hi amp switching. There are various types of automotive relay used in the vehicle, which includes PCB, Plug-In, High Volt, Protective, and Time relay. The automotive relay is primarily used for switching the power between circuits. They are being used since the adoption of electronic components in the passenger and commercial vehicles. There are various systems in automotive such as advance driver assistance system, and electric steering system, which use relay to control the power from one circuit to another.

The Key Players In Automotive Relay Market Are:

TE Connectivity Corporation (Switzerland), Omron Corporation (Japan), Panasonic Corporation (Japan), Fujitsu (Japan), and Hella KGaA Hueck & Co. (Germany), Denso Corporation (Japan), American Zettler (U.S.), ABB Group (Switzerland), Eaton Corporation plc (Republic of Ireland), Sharp Corporation (Japan), NEC Corporation (Japan), Nippon-Aleph (Japan), Daesung Electric (India), Mouser Electronics, Inc.(U.S.).

The automotive relay market is powered by increased safety in the vehicle, increase in the number of electronic components, growing sales of electric vehicles, and adoption of advance technology. The various systems that are used to increase the safety and provide comfort to the passengers in the vehicle, require the use of automotive relay. Thus, the rise of automotive relay market is also due to the increased safety and comfort system. The increase in use of automotive relay in this systems will result in further growth of the market during the forecast period. The transformation of automotive industry from traditional to the electrification, has resulted in the increased use of electronic components in the vehicles. This will result in rising demand for automotive relay in the passenger and commercial vehicles, which will drive the growth of the market during the forecast period.

Segmentation:

The automotive relay market is segmented based on type, load type, electric vehicle type, and region. On the basis of type, the market is segmented based on PCB, Plug-In, High Volt, Protective, Time. PCB relay is expected to dominate the automotive relay market during the forecast period because of the increasing use of PCB relay in application such as cruise control, electric steering, power windows, and sunroof. The increased demand for PCB relay by the OEMs, has resulted in the growth of the market during the forecast period, as it can withstand heavy load. On the basis of load type, the market has been segmented as small load, medium load, and heavy load. The heavy load is expected to dominate the automotive relay market due to the ability to hold high power load in the electronic system. The capability to withstand higher power in the system have resulted in the increased use of heavy load relay in the vehicles.

Regional Analysis:

On the basis of region, the market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific region is expected to dominate the automotive relay market during the forecast period due to the growing demand of electric vehicle in emerging countries such as India, China, and Japan. The emerging countries such as India, and China are the manufacturing hubs of the automotive industry, which have resulted in the increased production of passenger and commercial vehicles. Also the increasing demand of electric vehicles in China and Japan have resulted in the increase use of automotive relay in vehicles, which will drive the growth of automotive relay market in future. North America is expected to be the second largest region in the automotive relay market during the forecast period. In North America, there has been significant investment made by the OEMs to develop electric vehicles. The increased investment for the development of electric vehicle, will result in the growing use of automotive relay in the vehicle system. This will result in the growth of the market during the forecast period.

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