Global Automotive Relay Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

"Global Automotive Relay Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global automotive relay market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive relay market report has been segmented on the basis of product type, vehicle type, application, and region.

Introduction: 

Automotive relays are used to control the high current circuit with a lower current circuit. These relays are used in electrical systems used in applications like automotive, industrial and heavy equipment, and trucks. Some of the common applications of automotive relays are doors, power windows, anti-locking brake systems, car antennas, car flashlights, car alarm systems, horns, wipers, etc.

Market Dynamics:

Growing demand for modernization of automobiles in developing and developed economies is a major factor expected to drive revenue growth of global automotive relay market over the forecast period. Moreover, rising demand for electric cars across the globe owing to increasing fuel prices is expected to drive revenue growth of target market.

However, lack of standardization is a major factor expected to restrain revenue growth of automotive relay market. Moreover, automotive relays are weaker as compared to conventional relays, which is expected to restrain revenue growth of target market.

Product Type Insights:

On the basis of product type, the PCB relay segment is expected to account for major revenue share in the global automotive relay market. PCB relay is used in most of the electronic applications such as doors, power windows, sunroof, power steering, cruise control, and ABS in the automobile. Growing demand for passenger cars across the globe is expected to drive revenue growth of this segment.

Application Insights:

Among applications, the capacitive load segment is expected to account major revenue share in the global market and is expected to maintain its dominance over the forecast period. Growing demand for automotive electronics such as air conditioner, fuel injection, wiper, door lock system, and power window is expected to support revenue growth of this segment over the forecast period.

Regional Insights:

Asia Pacific market is expected to account for significant revenue share in the global automotive relay market and is expected to maintain its dominance over the forecast period. Growing penetrations of automobiles in the countries in the region is expected drive revenue growth of Asia Pacific automotive relay market over the forecast period. Moreover, growing adoption of safety standards in the countries such as India and China is expected to support revenue growth of automotive relay market in the region. The Asia Pacific accounts for the major revenue share contribution of the global automotive relay market, followed by markets in North America, Europe, Latin America, and the Middle East & Africa respectively. The automotive relay market in Europe is expected to grow at a higher growth rate over the forecast period owing to the presence of a large number of automotive manufacturers in the region.

Market Segmentation and Key Players Operating in the Automotive Relay Market:

By Product Type:

• PCB Relay
• Plug-in Relay
• High Voltage Relay
• Others (Protective Relay, Signal Relay, and Signal Relay)

By Vehicle Type:

• Passenger Vehicles
• Commercial Vehicles
• Electric Vehicles

By Application:

• Resistive Loads
• Capacitive Loads
• Inductive Loads

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa