Dublin, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The "Automotive Relay Market by Relay Type, Application, Ampere, Vehicle Type, Electric Vehicle Relay Market by Ampere, Electric Vehicle Relay Market by Relay Type, Electric Vehicle Relay Market by Vehicle Type, Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The automotive relay market is projected to grow from USD 12.2 billion in 2022 to USD 15.5 billion by 2027, at a CAGR of 5.0% for the same period.
Companies Mentioned
- ABB Group
- American Electronic Components
- American Zettler
- Cit Relay and Switch
- Coto Technologies
- Denso
- Fujitsu Component Limited
- Good Sky Electric Co. Ltd.
- Hella GmbH & Co KGaA
- Hongfa Technologies Co.
- Mitsuba Corporation
- Omron Industrial Automation
- Panasonic Corporation
- Picker
- Robert Bosch LLC
- Sanyou Corporation Limited
- Siemens
- Song Chuan Group Companies
- Te Connectivity
- Xiamen Level King Keep Electronics (Lkk)
PCB relays are speculated to drive the automotive relay market under the review period.
Printed circuit board (PCB) relays to lead the relay types in ICE vehicles globally. The benefits of PCB relays are compact, lower weight, and high power rating capacity, which aligns with the OEM requirement. PCB relays can switch current up to 200A; hence, these relays find applications for most automotive features where the relay needs to be small enough to fit in limited space.
Some applications of PCB relays in vehicles are door locks, power windows, sunroofs, headlamps, and tail lights, among others. Hence, compact size, higher rating, and smaller package than plug-in relays make them preferable among all other types of relays, and with growing demand for applications mentioned above in the vehicles would further drive the demand for PCB relays in coming years.
Intelligent Park Assist is expected to be the rapidly growing automotive relay application during the forecast period.
The Intelligent Park Assist (IPA) is one of the premium comfort features aiding parking in modern vehicles. This technology has been introduced as vehicles on the road are constantly growing, limiting the availability of convenient parking spaces in congested urban areas.
Hence, premium automakers are incorporating IPA to automatically and conveniently park their vehicles. Several manufacturers, such as Toyota, BMW, Lexus, Volkswagen, and Tesla, offer this system in their passenger car models. The relays are used for intelligent park assist, frequent switching operations, and signal communications.
Hence, offering IPA technologies is currently limited to select premium models. With rising demand for mid- and premium vehicles, especially in Europe and North America, the adoption of intelligent park assist is expected to grow as simultaneously demand automotive relays in the future.
North America is anticipated to be the second-largest automotive relay market by 2027.
According to the publisher's analysis, North America is projected to be the second-largest market for automotive relays by 2027. The region has a higher demand for passenger vehicles, particularly for mid-range & premium SUVs and pickup trucks, due to strong buying power, high per capita income, improved standard of living, and consumers' interest in off-roading purposes.
According to the publisher's analysis, production share of mid-range and premium passenger vehicles in North America, stood at more than 80% in 2021. These vehicles are installed with more electronic components for advanced safety and comfort features such as automatic air conditioning, start-stop, EPS, heated steering and seats, traction control, adaptive cruise control, and so on. With increasing premium car sales, the region's demand for automotive relays for various applications would also grow.
Further, increasing industrialization, growing logistic business, and e-commerce industry have created a significant demand for heavy truck production and sales in the US. This would subsequently create the demand for automotive relays for basic functions such as fuel pumps, headlights and tail lamps, steering, wiper, indicators, etc. In addition, electric and hybrid vehicles have also recently seen a considerable adoption rate in North America. All these factors are expected to drive the market of automotive relays in the North American region
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 276 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $12.2 Billion |
| Forecasted Market Value (USD) by 2027 | $15.5 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Market Dynamics
5.3.1 Drivers
5.3.2 Restraints
5.3.3 Opportunities
5.3.4 Challenges
5.4 Porter's Five Force Analysis
5.5 Scenarios - Automotive Relay Market
5.5.1 Most Likely/Realistic Scenario
5.5.2 Pessimistic Scenario
5.5.3 Optimistic Scenario
5.6 Trends/Disruption Impacting Automotive Relay Manufacturers
5.7 Pricing Analysis
5.8 Technology Analysis
5.9 Case Study
5.10 Ecosystem
5.11 Supply Chain
5.13 Patent Analysis
5.14 Regulatory Framework
5.14.1 Regulatory Bodies, Government Agencies and Other Organizations
5.16 Key Conferences and Events in 2022-2023
5.16 Key Stakeholders & Buying Criteria
6 Automotive Relay Market, by Relay Type
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions/Limitations
6.1.3 Industry Insights
6.2 Pcb Relay
6.3 Plug in Relay
6.4 High Voltage Relay
6.5 Protective Relay
6.6 Signal Relay
6.7 Time Relay
7 Automotive Relay Market, by Application
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
7.2 Door Lock
7.3 Power Windows
7.4 Sunroof
7.5 Power Seat
7.6 Electronic Power Steering (Eps)
7.7 Lighting
7.8 Fuel Injection
7.9 Air Conditioner
7.10 Starter
7.11 Anti-Brake System (ABS)
7.12 Traction Control System
7.13 Cooling Fan
7.14 Engine Management Module
7.16 Cooling Fan
7.16 Adaptive Cruise Control
7.17 Intelligent Park Assist
8 Automotive Relay Market, by Ampere
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions/Limitations
8.1.3 Industry Insights
8.2 5A-16A Relay
8.3 16A-35A Relay
8.4 >35 Relay
9 Automotive Relay Market, by Vehicle Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions/Limitations
9.1.3 Industry Insights
9.2 Light Duty Vehicles
9.3 Heavy Duty Vehicles
10 Electric Vehicle Market, by Vehicle Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
10.2 Battery Electric Vehicle(BEV)
10.3 Fuel Cell Electric Vehicle (Fcev)
10.4 Plug in Hybrid Electric Vehicle(PHEV)
10.5 48V Mild Hybrid Electric Vehicle
11 Electric Vehicle Relay Market, by Relay Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions/Limitations
11.1.3 Industry Insights
11.2 Pcb Relay
11.3 Plug in Relay
11.4 High Voltage Relay
11.5 Protective Relay
11.6 Signal Relay
12 Electric Vehicle Relay Market, by Ampere
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
12.2 5A - 15A Relays
12.3 16A - 35A Relays
12.4 >35A Relays
13 Automotive Relay Market, by Region
14 Recommendations
15 Competitive Landscape
15.1 Key Player Strategies/Right to Win
15.2 Revenue Analysis of Key Players
15.3 Market Share Analysis
15.4 Company Evaluation Quadrant - Automotive Relay Manufacturers
16 Company Profiles
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/fups3l-relay?w=12
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