Jersey City, New Jersey, Nov. 23, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Automotive Relay Market” By Product (PCB Relays, Plug-in Relays), By Relay Type (Solid State Relays (SSR), Hybrid, and Electromechanical), and By Geography. According to Verified Market Research, the Global Automotive Relay Market size was valued at USD 13.52 Billion in 2020 and is projected to reach USD 19.89 Billion by 2028, growing at a CAGR of 4.81% from 2021 to 2028.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=202051
Browse in-depth TOC on “Automotive Relay Market”
202 - Pages
126 – Tables
37 – Figures
Global Automotive Relay Market Overview
Urbanization, pollution regulation, the growing prevalence of charging stations, government incentives, improvements in battery technology are some of the key factors that have boosted the sales of electric vehicles worldwide. The spike in the demand for electric cars in Europe was mainly attributed to a supportive regulatory framework. Many countries strengthened key policies such as CO2 emission standards. In addition, many European governments increased subsidy schemes for EVs. Thus, generous subsidies, punitive legislation, and shorter commutes have all led to increased EV sales in Europe. Thus, with the rise in the sale of electric vehicles at a global level, demand for automotive relays is also expected to increase. Several countries offer incentives for switching to electric mobility. This has been one of the key drivers for the rise in the adoption of electric vehicles in the European region.
However, numerous factors associated with the design of different types of relays can be hindering the market growth over the forecast period. Electromagnetic relays have negative factors affecting the segment growth that are Noise while switching, Arc formation, Voltage surges while switching, and the Limited shelf life that will hamper the growth of the market.
Key Players
The major players in the market are Fujitsu Ltd., DENSO Corp., Panasonic Corp., TE Connectivity Ltd., OMRON Corp., HELLA GmbH & Co. KGaA, Littelfuse Inc., Microchip Technology Inc., Xiamen Hongfa Electroacoustic Co. Ltd., American Zettler Inc., and others.
Verified Market Research has segmented the Global Automotive Relay Market On the basis of Product, Relay Type, and Geography.
- Automotive Relay Market, By Product
- PCB Relays
- Plug-in Relays
- Others (High Voltage, Protective, Signal, Time Relay)
- Automotive Relay Market, By Relay Type
- Solid State Relays (SSR)
- Hybrid
- Electromechanical
- Automotive Relay Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
Browse Related Reports:
Solid State Relay Market By Mounting Type (Panel Mount, PCB Mount, and DIN Rail Mount), By Application (Building Equipment, Energy and Infrastructure, Industrial Automation, Automotive & Transportation and Others), By Geography, Forecast, 2021-2028
Railway Relays Market By Type (Signalling Relays, Rolling Stock Relays, Auxiliary Relays), By Application (Ordinary Train, Bullet Train, Metro), By Geography, Forecast, 2021-2028
Automotive PCB Relays Market By Product (SPDT and SPDT×2), By Application (Power Windows, Power Door Lock, Seat Adjustment, Sunroof, and Wiper Controls), By Geography, Forecast, 2021-2028
EV Relay Market By Product (Plug-in Relay and PCB Relay), By Application (Heating, Lamps & Filter capacitors, Solenoids, Motors & Pumps and others), By Geography, Forecast, 2021-2028
Top 5 Car Engine Manufacturers revving global market to boost performance
Visualize Automotive Relay Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
About Us
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals, and critical revenue decisions.
Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.
