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Asia-Pacific dominates the Automotive Relay market owing to increasing demand for electric vehicles owing to the wide range of in the electric vehicles.

HYDERABAD, TELANGANA, INDIA, January 11, 2023 /EINPresswire.com/ -- Automotive Relay Market is forecast to reach $20.1billion by 2025, after growing at a CAGR of 5.15% during 2020-2025. The significant rise in the demand for the electric vehicles and the employment of the relays in the vehicles in analyzed impact on the growth of the Automotive relay market. PCB relays, Plug-in Relay, and high voltage relays are employed in the applications including central locking systems, power window, sunroof, interior lights, lamps (front, rear, fog), ABS control, blower and cooling fans, engine control and fuel pump in automotive.

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Key Takeaways

1. Asia-Pacific dominates the Automotive Relay market owing to increasing demand for electric vehicles owing to the wide range of in the electric vehicles.

2. PCB relay is analyzed to hold the highest market share as they can be employed in the handling of switching currents up to 200A for high system voltages.

3. The significant rise in the demand for safety and comfort alongside the increasing electric vehicle sales are analyzed to be the key driving factors of the automotive relay market.

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Segmental Analysis:

1. By Product - Segment Analysis : PCB relays are analyzed to hold the highest market share over plug-in and high voltage relays. The PCB relays can be employed in high switching range, provide low noise operation and are available in smaller size which makes them efficient to be employed in the automotive. Moreover they are employed in typical applications including central locking systems, power window, sunroof, interior lights and others, thereby contributing the increasing demand for the PCB relays.

2. By Vehicle Type - Segment Analysis : Passenger cars hold the highest market share in the year 2018. However the electric vehicles is analyzed to grow at highest rate during the forecast period 2020-2025. The rise in the demand for electric vehicles owing to the environmental impacts caused by vehicular emissions of the conventional vehicles is analyzed to boost the market. In 2019, Volkswagen has announced to invest $66bn in the development of electric vehicles and it has also stated to set up eight electric vehicle manufacturing sites in APAC, North America and Europe. Therefore the increasing investments will certainly drive the electric vehicle market thereby impacting on the significant rise in the demand for the automotive relay market.

3. Geography - Segment Analysis: APAC dominated the Automotive Relay market with a share -of more than, followed by North America and Europe. It is mainly contributed to the large vehicle production base in this region. Moreover the increasing investments for setting up the electric vehicle production owing to the increasing demand for the electric vehicles in China, Japan, India and so on are analyzed to impact on the growth of the market. As per industryARC analysis, China is analyzed to grow at a highest rate in the electric vehicle market. This is mainly due to the significant rise in the investments in the electric vehicles in this region. In 2019, NIO has received $1.5bn investment and WM motors, investments of $2.27bn as of 2019. These investments are analyzed to boost the growth of the electric vehicle manufacturing locations thereby elevating the growth of the automotive relay market during the forecast period.

Competitive Landscape:

The top 5 players in the Automotive Relay industry are -

1. TE Connectivity
2. Omron Corporation
3. Panasonic
4. HELLA KGAA HUECK & CO.
5. Fujitsu

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