Global Automotive Relay Market 2021-2025
Technavio has been monitoring the automotive relay market and it is poised to grow by $ 3.66 bn during 2021-2025, progressing at a CAGR of 6% during the forecast period. Our report on automotive relay market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increase in use of automotive relays in vehicles that operate on alternative fuels, adoption of PCB relays to enhance fuel efficiency, and government regulations to improve safety in automobiles. In addition, increase in use of automotive relays in vehicles that operate on alternative fuels is anticipated to boost the growth of the market as well.
The automotive relay market analysis includes product segment and geographical landscapes.
Technavio's automotive relay market is segmented as below:
- PCB relays
- Plug-in relays
By Geographical Landscapes
- North America
- South America
This study identifies the electric vehicle relays for high voltage applications as one of the prime reasons driving the automotive relay market growth during the next few years. Also, technological innovation in the global automotive relays market and development of intelligent/smart relays will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on automotive relay market covers the following areas:
- Automotive relay market sizing
- Automotive relay market forecast
- Automotive relay market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive relay market vendors that include DENSO Corp., Fujitsu Ltd., HELLA GmbH & Co. KGaA, Littelfuse Inc., Microchip Technology Inc., OMRON Corp., Panasonic Corp., TE Connectivity Ltd., Xiamen Hongfa Electroacoustic Co. Ltd., and American Zettler Inc. Also, the automotive relay market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.