The Automotive Relay Market is estimated to grow at a moderate CAGR during the forecast period.
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Automotive Relay Market: Drivers & Restraints
With the increase in levels of safety and comfortable driving experience, offered by automotive relays; the demand for automotive relays has increased and expected to grow even more in the forecast period. With the fast pace development of PCBs (Printed Circuit Boards), lighter PCB relays are gradually replacing complicated plug-in devices. This factor is likely to increase the global PCB relay market. Also, PCB relays are expected to remain the dominant segment of the global relay market in the forecast period. Government regulations to include safety components in automobiles to lessen the number of casualties is forecasted to drive the automotive relay market during the forecast period. These devices can be used in safety systems like head restraints, heads-up displays, steering systems, seatbelts, and airbags. With the increase in the use of technologies like GPS, weather, temperature and traffic information, demand for automotive relays is expected to grow at a high CAGR. With the increase in demand for comfort levels, concepts like sunroof control, keyless entry systems, mirror control and infotainment systems have emerged. The increase in the demand for the Hybrid Electric Vehicle (HEV) segment is also a key factor that is likely to drive the growth of global Automotive Market.
In the automotive industry, lack of standardization is a factor that can restrain the growth of Automotive Relay Market. Automotive relays are weaker compared to the conventional plug-in relays when factors like the ability to withstand voltage fluctuations, vibrations, and high temperature, and robustness are considered. Hence, in many applications, especially powertrain systems, conventional plug-in relays are still preferred. This factor may also restrain the growth of Automotive Relay Market in the forecast period.
Automotive Relay Market: Regional Outlook
Automotive Relay Market share of Europe was 24% from the total global revenue in 2016. Convenience applications and powertrain systems are largely responsible for the regional sales in the Asia Pacific region. The Asia-Pacific region is expected to show a moderate CAGR in the growth of Automotive Relay Market during the forecast period. The Asia-Pacific region is gradually being called the automobile manufacturing hub because of the ease of availability of raw materials and comparatively lower labor costs. Owing to high demand and significant vehicle production in China, China is estimated to show significant growth trends in the Automotive Relay Market. LCV (Light Commercial Vehicle) relay segment is also estimated to grow at a high CAGR in the forecast period. Specifically, the North America region is one of the regions where this growth is expected to be witnessed.
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Automotive Relay Market: Key Players
Some of the major players of the Automotive Relay Market are:-
- Salzer Electronics Ltd.
- ABB Ltd.
- Panasonic Corporation
- Deltrol Controls
- Omron Corporation
- American Zettler Inc.
- TE Connectivity
- Fujitsu
- Nippon-Aleph
- Daesung
- NEC Corporation
- Denso Corporation
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
Automotive Relay Market can be segmented based on product type, application type and regions.
Based on the application type, Automotive Relay Market is segmented into:
- Powertrain Systems
- Body & Chassis
- Convenience
- Safety & Security
- Driver Information Systems
Based on product type, Automotive Relay Market is segmented into:
- PCB relay
- Plug-in relay
Based on regions, Automotive Relay Market is segmented into:
- North America
- Europe
- Asia Pacific
- RoW
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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