Global Automotive Relay Market was Valued at USD 15.0 billion in 2019 and is Expected to Reach USD 20.3 billion by 2025, Observing a CAGR of 5.0% during 2020–2025: VynZ Research
Industry Insights by Product (Plug-In Relay, PCB Relay, High Voltage Relay, Others), by Vehicle Type (Commercial Vehicles, Passenger Vehicles, Electric Vehicles), by Application (Capacitive Loads, Resistive Loads, Inductive Loads)
NEW YORK, May 15, 2020 (GLOBE NEWSWIRE) -- The global automotive relay market was valued at USD 15.0 billion in 2019 and is expected to reach USD 20.3 billion by 2025, growing at a CAGR of 5.0% during 2020-2025. excessive transformation of automotive industry from traditional to electrification has led to extensive use of electronic components in a vehicle that is further contributing towards accentuating the demand of automotive relay in the commercial as well as passenger vehicles that will further bolster the growth of global automotive relay market.
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The capacitive load segment is expected to generate largest revenue by 2025 in the global automotive relay market
Based on application, the global automotive relay market is categorized into capacitive loads, resistive loads, and inductive loads. Among all, capacitive load segment is expected to generate largest revenue by 2025. Modern cars in the present scenario require relay for their efficient operation this includes power window, wiper, air conditioner, door lock system and fuel injection.
Geography Insight
Geographically, Asia-Pacific was the largest automotive relay market in 2019. This is owing to the high penetration of automobiles in emerging countries such as China along with implementation of safety principles. On the other hand, North America is expected to witness highest CAGR during the forecast period due to increasing investments attributed towards OEMs in order to create electric vehicles.
Competitive Insight
Some of the key players operating in the global automotive relay market are Mouser Electronics, Inc., Fujitsu, Omron Corporation, Eaton Corporation plc, Hella KGaA Hueck & Co., ABB Group, TE Connectivity Corporation, Denso Corporation, Panasonic Corporation, American Zettler, Nippon-Aleph, NEC Corporation, Daesung Electric, and Sharp Corporation.
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Global Automotive Relay Market Coverage
Product Insight and Forecast 2015 – 2025
- Plug-In Relay
- PCB Relay
- High Voltage Relay
- Others
Vehicle Type Insight and Forecast 2015 – 2025
- Commercial Vehicles
- Passenger Vehicles
- Electric Vehicles
Application Insight and Forecast 2015 – 2025
- Capacitive Loads
- Resistive Loads
- Inductive Loads
Geographical Segmentation
Automotive Relay Market by Region
North America
- By Product
- By Vehicle Type
- By Application
- By Country – U.S., Canada, and Mexico
Europe
- By Product
- By Vehicle Type
- By Application
- By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe
Asia-Pacific (APAC)
- By Product
- By Vehicle Type
- By Application
- By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Product
- By Vehicle Type
- By Application
- By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
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