Global Automotive Relay Market Report 2019: Market Value is Expected to Reach USD 19,424 Million in 2026
Relays are switches that open and close circuits electromechanically or electronically. They control one electrical circuit by opening and closing contacts in another circuit. Relays are generally used to switch smaller currents in a control circuit and do not usually control power consuming devices except for small motors and Solenoids that draw low amps. Automotive Relay is a relay used in the automobile.
Market Snapshot
This report categorizes the market with various types, applications, companies, and regions. It focuses on the present scenario and the future growth of the global Automotive Relay market, especially in regions like North America, Asia-Pacific, Europe, South America, Middle East and Africa.
The global Automotive Relay market is expected to increase from USD 13,282 million in 2019 to USD 19,424 million by 2026, registering a CAGR of 5.58% from 2019 to 2026.
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Competitive Landscape
Major manufacturers profiled in the analysis report include ABB Group, Denso Corporation, Eaton Corporation plc, Fujitsu Limited, Hella KGaA Hueck & Co, TE Connectivity, Panasonic Corporation, Omron Corporation, American Zettler, and others.
The increasing demand for vehicle electrification and the increasing sales of electric and hybrid vehicles are propelling the growth of the Automotive Relay market. Moreover, increasing vehicular safety regulations in various regions across the globe is also projected to stimulate this market’s growth.
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Regional Overview
In 2018, the global Automotive Relay market was mainly concentrated in the three regions of Asia-Pacific, North America and Europe. Asia-Pacific is the largest producer with a proportion of 32.25% due to high vehicle demand in this region. North America is currently leading Europe with a share of 31.69% and 28.11%. Europe is also expected to achieve substantial growth due to the strong growth of the entire automotive industry.
Type Overview
By product type, the Automotive Relay market is segmented into PCB Relay, Plug-in Relay, High Voltage Relay, Protective Relay, Signal Relay, and Time Relay.
Application Overview
Based on application, this market is divided into Passenger Vehicles, Commercial Vehicles, and Electric Vehicles.
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Target Audience:
l Automotive Relay manufacturers
l Raw material suppliers of Automotive Relay
l Distributors and resellers of Automotive Relay
l Automotive Relay industry associations
l Product managers, Automotive Relay industry administrator, C-level executives of the industries
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