Product Overview
Automotive relays are used to enable the flow of small current in automobiles. It also helps to switch on multiple things at the same time. Automotive relays are available in different shape and sizes. It is primarily used for switching headlight. The automotive relay increases the efficiency of the vehicle. The major application of automotive relays is car alarm systems, anti-locking brake systems and car antennas.
Market Size and Forecast
The global automotive relay market is anticipated to expand at a CAGR around 7.0% during 2018-2027. It is expected to reach around USD 20.0 Billion by 2027. The automotive relay enables the driver to perform many operations and also enables the safe and smooth driving experience of the driver . This factor is anticipated to boost the market growth of the global automotive relay market over the forecast period.
The global automotive relay market can be segmented on the basis of product type, vehicle and application. On the basis of product type, it is sub-segmented into plug-in relay, PCB relay and high voltage relay. PCB relay sub- segment is the leading sub-segment on the account of the capability of the PCB relay to control high loads. The size of PCB relay helps in saving the space of the automobile. On the basis of vehicle, it is sub-segmented into commercial vehicles, passenger vehicles and electric vehicles. The electric sub-segment is anticipated to register significant market growth during the forecast period on the increasing application of the relays in the electric vehicles. The increasing demand for the electric vehicles is anticipated to fuel the demand for the automotive relay during the forecast period. On the basis of application type, it is sub-segmented into capacitive loads, resistive loads and inductive loads. Capacitive loads sub-segment is anticipated to lead the application segment on the account of increasing use of semiconductor devices for the multiple purposes in the car. The various electronics equipment used in the automobile enhances the safety and security of the driver. It reduces the chances of any fatal injuries and toad accident while driving.
By region, global automotive relay market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia- Pacific region is anticipated to be the fastest developing region for the global automotive relay market on the account of rapid expansion of the automobile sector in the countries such as India and China. The growing demand for car digitalization coupled with enhanced connectivity measure is also anticipated to drive the market growth of the Asia Pacific region during the forecast period. Europe is anticipated to showcase robust growth during the forecast period. The increasing number of the key players operating in the automotive relay market coupled with stringent government regulations to use electronic safety system is anticipated to fuel the demand for the automotive relay during the forecast period.
Market Segmentation
Our in-depth analysis segmented the global automotive relay market in the following segments:
By Product
- Plug-in Relay
- PCB Relay
- High Voltage Relay
By Vehicle
- Commercial vehicles
- Passenger vehicles
- Electric vehicles
By Application
- Capacitive loads
- Resistive loads
- Inductive loads
By Region
Global automotive relay market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers and Challenges
The increasing demand for the electronic relay is anticipated to boost the global automotive relay market during the forecast period. The modernization of vehicles by adding certain feature to the vehicle is anticipated fuel the demand for the automotive relays. The increasing safety concern coupled with the emission control regulations is anticipated to fuel the global automotive relay market. The electrification of vehicles and continuous addition of electronic equipment in the vehicle is also a growth driver for the global automotive relay market. The increasing use of technologies such as temperature system, GPS in the automobile is also driving the global automotive relay market during the forecast period.
However, the unavailability of regular design of relay is anticipated to be major restrain for the global automotive relay market.
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