The promising advent of innovative products coupled with booming automobile production is fostering the growth of automotive relay market. The gains of automotive relay market can be attributed to surging demand from a myriad of applications such as automotive, industrial, trucks, and heavy equipment. Moreover, on-going diversifications in printed circuit boards (PCBs) have paved ways for replacement of complex and traditional relays, which bodes well for the automotive relay market. With increasing demand for technologies like GPS, temperature, weather, and traffic information, the installation rates of automotive relays are expected to rev up, thereby pushing growth of automotive relay market. As per the report published by Fact.MR, the automotive relay market was valued at US$ 12,030.9 Mn in 2017 and is envisioned to value around US$ 15,692.5 Mn by 2022 end.
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Market Definition
Automotive relays are employed in electrical systems meant for applications like industrial, automotive, trucks, and heavy equipment. Automotive relays enable the controlling of a high current circuit using a lower current circuit.
Automotive relays are available in different sizes and shapes, which are used for land and sea-based commute. Some of the common applications employing automotive relays include car stereos, horn systems, intermittent wipers, car flashlights, and car antennas.
Additional Questions Answered
- Have automotive relays partially overpowered conventional manual switches or still there is a long way to go?
- What efforts are the manufacturers in the automotive relay market making to leverage on increasing demand for EVs and hybrid Electric vehicles?
- Which segment will lead in the automotive relay market in terms of share, PCB relay, and plug-in relay?
- How will increasing vogue for premium and mid-priced passenger cars impact the automotive relay market?
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Following highlights from Fact.MR’s forecast on the global automotive relays market will project the market’s future prospects.
- In 2017, over US$ 9 Bn worth of automotive relays sold in the world were PCB relays. Demand for PCB relays over their plug-in counterparts is expected to remain higher.
- Passenger car manufacturers from around the world are actively adopting automotive relays, as opposed to the makers of commercial vehicles. By 2022, passenger vehicles will contribute more than US$ 10 Bn in revenues to the global automotive relays market.
- Application of automotive relays in powertrain systems is gaining traction. The report expects that global revenues amassed from sales of automotive relays in powertrain application will register a healthy CAGR over the forecast period.
- Region-wise, the largest market for automotive relays is the Asia-Pacific excluding Japan (APEJ) region. APEJ countries such as China and India are leading contributors to global automobile production. Through 2022, the APEJ automotive relays market will soar vigorously at a soaring CAGR.
- North America’s automotive relays market is also expected to witness substantial growth during the forecast period. Rising sales of EVs equipped with advanced automotive relays is expected to drive the region’s global market presence. In 2017, more than US$ 2.4 Bn worth of revenues were netted through sales of automotive relays across the US and Canada.
- Europe will also be observed as a lucrative region for automotive relay manufacturers. Greater inclination of European customers towards electronically-equipped vehicles is slated to drive the adoption of automotive relays. Going forward, revenues accounted by Europe in the global automotive relays market will incur a speedy yet steady growth at stable CAGR.
- The report indicates that largest sales channel for automotive relays will be aftermarkets. Through aftermarket sales, the global automotive relays market is expected to witness an influx of nearly US$ 8 Bn revenues by the end of 2017.
- Infineon Technologies AG, Denso Corporation, Panasonic Corporation, Fujitsu Limited, Delphi Automotive Plc., HELLA KGaA Hueck & Co., TE Connectivity Ltd., and Eaton Corporation are leading manufacturers of automotive relays profiled in the report.
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Competitive Dynamics
The current ecosystem of automotive relay market is witnessing an exceptional competition among the key industry participants for attaining domination in automotive relay market.
This has led to surging consolidation through initiatives such as alliances and acquisitions in the automotive relay market. Some of the major players operating in automotive relay market and included in this report are
- Delphi Automotive
- HELLA KGaA Hueck & Co..
- Eaton Corporation PLC.
- TE Connectivity Ltd.
- Panasonic Corporation
- Denso Corporation
- Fujitsu Limited
- Infineon Technologies AG.
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