Dublin, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Relay Market Size, Share & Trends Analysis Report by Product (PCB Relay, Plug-in Relay, High Voltage Relay, Others), Vehicle Type, Application (Resistive Loads, Capacitive Loads, Inductive Loads), Region, and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive relay market size is expected to reach USD 24.97 billion by 2030, registering a CAGR of 8.1%
Increasing vehicular safety regulations in various regions across the globe is driving the automotive relay market. Further, increasing adoption of electric vehicles amongst passenger car segment end users has made automotive electronics including the automotive relay industry to gain significant market share. 
Systems such as advanced driver assistance systems (ADAS), electronic stability control, electronic steering systems, brake-by-wire systems, and airbags are gaining momentum across the globe, owing to their safety and comfort benefits. Strict safety guidelines employ substantial pressure on Tier-1 suppliers and the OEMs to design improved safety systems for automobiles. Furthermore, there is a growing demand for enhanced comfort and convenience in automobiles.
Many governments provide lucrative offers to promote the selling and usage of Electric Vehicles EVs. Tax benefits are provided at the time of purchase. However, the extent of the exemption depends on the size of the batteries used in the vehicle. In the United States, insurance companies provide discounts on insurance policies to customers, and utility companies are offering low electricity rates.
Also, few states offer credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment. Many European countries follow incentive-based programs for promoting EVs. Countries, like Germany and Austria, offer tax exemptions and reductions.
Automotive Relay Market Report Highlights
- The increasing vehicular safety norms across the globe and the growing adoption of electric passenger car vehicles amongst end-users are expected to drive the market.
- Electric automotive parts have diversified over the past decade, leading to an increase in the number of relays used as switching devices as well as variation in the required features of each relay
- Asia Pacific is a key revenue-generating region and captured a significant market share in 2022. The region exhibits a high growth potential, which may be attributed to high vehicle demand in this region.
Company Profiles
- ABB
- American Zettler, Inc. (Zettler Components, Inc.)
- BETA ELECTRIC INDUSTRY CO., LTD
- COTO TECHNOLOGY
- Sensata Technologies Holdings N.V.
- Deltrol Controls (Deltrol Corporation)
- DENSO CORPORATION
- Eaton
- Fujitsu Limited
- GOOD SKY ELECTRIC CO., LTD.
- IDEC Corporation
- Hella KGaA Hueck & Co. (HELLA)
- Littelfuse Inc.
- LS Automotive Technologies
- Megatone Electronics Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $13.53 Billion |
| Forecasted Market Value (USD) by 2030 | $24.97 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Automotive Relay Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Application Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.3.3. Market opportunity analysis
3.4. Automotive Relay Market Analysis Tools
3.4.1. Application analysis - Porter's
3.4.2. PESTEL analysis
Chapter 4. Automotive Relay Market: Product Estimates & Trend Analysis
4.1. Automotive Relay Market: Key Takeaways
4.2. Automotive Relay Market: Movement & Market Share Analysis, 2022 & 2030
4.3. PCB Relay
4.4. Plug-in Relay
4.5. High Voltage Relay
4.6. Others
Chapter 5. Automotive Relay Market: Vehicle Type Estimates & Trend Analysis
5.1. Automotive Relay Market: Key Takeaways
5.2. Automotive Relay Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Passenger Vehicles
5.4. Commercial Vehicles
5.5. Electric Vehicles
Chapter 6. Automotive Relay Market: Application Estimates & Trend Analysis
6.1. Automotive Relay Market: Key Takeaways
6.2. Automotive Relay Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Resistive Loads
6.3.1. Resistive loads market estimates and forecasts, 2017 to 2030 (USD Million)
6.3.2. HVAC
6.4. Capacitive Loads
6.4.1. Capacitive loads market estimates and forecasts, 2017 to 2030 (USD Million)
6.4.2. Engine management module
6.4.3. Fog lights
6.4.4. ABS module
6.4.5. Front and rear beam
6.5. Inductive Loads
6.5.1. Inductive loads market estimates and forecasts, 2017 to 2030 (USD Million)
6.5.2. Power Window
6.5.3. Central Lock
6.5.4. Cooling Fan
6.5.5. Clutches
Chapter 7. Automotive Relay Market: Regional Estimates & Trend Analysis
7.1. Regional Outlook
7.2. Automotive Relay Market by Region: Key Takeaway
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis, By Key Market Participants
8.2. Market Participant Categorization
For more information about this report visit https://www.researchandmarkets.com/r/1fs4e8
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