Global Automotive Relay Market 2018 Research Methodology, Industry statistics, Growth Factors 2025

Global Automotive Relay Market 2018 report covering worldwide market scenario in terms of Type, Application, Region, and provides Global Forecast for the 2018-2025 period.

In 2017, the global automotive relay market registered USD 13.24 Billion and now it is anticipated to reach USD 18.2 Billion by 2025 at a CAGR of 7.19% during the forecast period from 2018-2025. The global automotive relay market is driven by drivers including improving modernization of vehicle to impact the relay market, preference for electronic relays over electromagnetic relays, and government regulations to include safety components in automobiles.

The relays are the switches that are made of various shapes and sizes. They are used to allow transmission of small current to control a higher current circuit in the automobiles. Their size and shapes depend on the automotive in which they are applied. They can be used to turn on the headlights of automotive, anti-locking brake systems, car stereos, and car alarm systems. As the use of technologies like GPS, temperature, and advanced driver assistance systems have grown rapidly, the demand for automotive relays has therefore increased. The automotive relays support both electrical and mechanical control.

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The key driving factors for the automotive relay market include rising modernization of vehicles to affect the relay market and preference for electronic relays over electromagnetic relays. Further, factors such as government regulations regarding safety components for automobiles industry is estimated to lead to the growth of automotive relay market in a couple of years. But, the lack of standard relay design might become the limiting factor for the market growth. The boosting factor for the automotive relay market would be the growing need for electric relays in modern vehicles.

The global automotive relay market is segmented on the basis of type, vehicle type, application, and regions.

Type segment is divided into PCB relay, plug-in relay, high voltage relay, protective relay, time relay, signal relay. PCB relay segment, which held the largest share of 31.68% in 2017, could reach the highest CAGR over the forecast period. The lightweight of PCB relays can be used instead of plug-in devices which is the major contributing factor.

Vehicle type segment covers passenger vehicles, electric vehicles, and commercial vehicles. Electric vehicles support no pollutant emission regulations and help to maintain the environment, so it has increased. The adoption of vehicles operating on electric batteries has led to an increase in the use of the automotive relay in recent years. Electric vehicles segment is expected to achieve the highest CAGR of 10.19% over the forecast period.

Application segment includes powertrain systems, body & chassis, convenience, safety & security, and driver information. Safety & security segment is projected to grow with the highest CAGR. The chief demand that people expect from the automotive manufacturers is safety & security to the drivers and passengers. For this, many of the companies offer automotive with built-in security features such as electronic stability control, electronic steering systems, and advanced driver assistance systems (ADAS). According to examination, safety & security segment registered the largest market share of 26.97% in 2017.

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