Automotive Relay Market by Type (PCB, Plug-In, High Volt, Protective, Time), Load & Application (Door Lock, Power Window, Sunroof, Power Seat, EPS, Lighting, Fuel Injection, AC, Starter, Horn, Wiper), ICE & EV, and 48V Relay Market - Global Forecast to 2022
“Increasing modernization of vehicles and stringent government norms regarding safety and comfort will drive the automotive relay market”
The automotive relay market is projected to grow at a CAGR of 6.20% during the forecast period, to reach a market size of USD 16.75 billion by 2022. Automotive electronics play an important role in maintaining fuel efficiency, safety standards, comfort, and connectivity. Hence, OEMs are focused towards the modernization of vehicle. As a result, the mechanical operations of a vehicle are getting replaced by electronic systems. These include airbags, anti-lock brake controls, wiper controls, and others. The demand for electronics systems is driving the automotive relay market. On the other hand, the unavailability of a standard relay design is a restraint for the automotive relay market as relays can be categorized by terminal arrangements and different functions. Due to this flexibility, a relay can be designed according to its usability. Hence, OEMs develop automotive relays by adhering to their standards of relay specification.
“The market for PCB relays is estimated to witness the fastest growth in the automotive relay market”
PCB relays are projected to lead the automotive relay market, in terms of volume and value, during the forecast period. Automakers are seeing demand for smaller devices that are capable of carrying greater current loads. The main reason for using PCB relays is its miniaturized size, which saves considerable space in the automobile junction box. The major applications where PCB relays are employed are ABS, cruise control, doors, power steering, power windows, sunroof, and others. Asia-Oceania and Europe are estimated to be the fastest growing markets for PCB relay. Asia-Oceania has the highest market share in the automotive relay market.
“Premium car segment constitutes the largest market in the automotive relay market globally”
The premium car segment holds the largest share of around 35%–40% in the automotive relay market. OEMs are focusing on additional features in the areas of infotainment, telematics, and safety. These features will add to the electronic content of a vehicle, and efficient designing and packaging of electronic content will give superior performance with reduced weight. This will also help to increase the fuel efficiency of the vehicle. In countries such as Germany and the U.S., the penetration of premium cars is higher as compared to other countries owing to the high disposable income levels of individuals and presence of major automotive OEMs such as Volkswagen AG, Audi, BMW, General Motors, Chrysler, and others. A premium car, on an average, employs 100–150 relays, and mid-priced car employs 50–70 relays, which help in performing the electronic applications. Hence, the premium car relay market is the largest among all the vehicle segments.
“Asia-Oceania region constitutes the largest market size in automotive relay market”
Asia-Oceania is estimated to lead the automotive relay market, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. The automobile industry is flourishing in this region, especially in South Asia. Additionally, Asia-Oceania has created hubs for automobile manufacturers and automotive component suppliers. Changing consumer preferences, increasing disposable income of the middle-class population, and cost advantages for OEMs are driving the automotive production in this region. This is a positive development for the automotive relay market. The presence of major relay manufacturers such as Panasonic Corporation (Japan), Omron Corporation (Japan), Fujitsu (Japan) and NEC Corporation (Japan) also boosts the automotive relay market in this region.
BREAKDOWN OF PRIMARIES
The study contains insights provided by various industry experts, ranging from automotive OEMs to automotive relay suppliers. The break-up of the primaries is as follows:
By Company Type: Tier-I - 60%, Tier-2 - 30%, and Others*-10%
By Designation: D level - 45%, C-level - 35%, and Others** - 20%
By Region: Europe - 45%, Asia-Pacific - 25%,North America-20%, and RoW - 10%
Note: Others** include sales managers, product managers, and associations.
Company tiers are based on the value chain; revenue of the company has not been considered.
Tier I are relay suppliers, while Tier II are relay component suppliers and others* are raw material suppliers
The report provides detailed profiles of the following companies:
TE Connectivity Corporation (Switzerland)
Omron Corporation (Japan)
Panasonic Corporation (Japan)
Hella KgaA Hueck & Co. (Germany)
Denso Corporation (Japan)
Delphi Automotive LLP (U.K.)
Eaton Corporation (Ireland)
Robert Bosch GmbH (Germany)
Siemens AG (Germany)
Mitsuba Corporation (Japan)
NEC Corporation (Japan)
The report provides a picture of the automotive relay market across different verticals and regions. It aims at estimating the market size and future growth potential of the automotive relay market, by relay type, by load type & application, by vehicle type, by region, by EV relay market and 48V relay market. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, Vendor DIVE matrix, recent developments, and key market strategies.
Reasons to buy the Report:
The report will help the market leaders and new entrants in this market by providing them the closest approximations of the revenue numbers for the overall automotive relay market and the sub-segments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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