In the process to enhance electronic components in the passenger and commercial vehicles, the implementation of the advance relay is essential. Market Research Future (MRFR) published a report about the global automotive relay market that it will rise over the years with a good amount of share over the forecast period by 2023.
Automotive relays are an electric switch that uses electromagnetic to operate the switch mechanically. The applications such as automotive, trucks, industrial and heavy equipment have usage of automotive relays, with a high current circuit that can be controlled by a lower current circuit. Increasing vehicular safety regulations in various regions across the globe is driving the automotive relay market.
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Automotive relays Market: Drivers & Restraints
Recently, increasing adoption of electric vehicles amongst passengers and car users has made automotive electronics including automotive relay industry to gain significant market share. Recognizing the rising prevalence of automotive relays market, the automotive relays are considered to be essential which are highly used in land and sea vehicles, due to its vulnerability to function in multiple ways at the same time. The most common applications where these automotive relays are used are listed as car flashlights, car alarm systems, anti-locking brake systems, car antennas, car stereos, horns, intermittent wipes and more.
Since automotive relays allow a small electric current to flow through the circuit to control higher current circuit, these play an essential role in the vehicle resulting in high performance. This is where the role of automotive relays comes forefront helping to control the circuit and power. There are various types of automotive relay used in the vehicle; the list includes PCB, Plug-In, High-Volt, Protective, and Time Relay.
In addition, increasing vehicle safety and emission control norms couple with the introduction of new vehicle electrification are key factors which are driving the growth of automotive relay market. Even according to today’s scenario, it has been observed that there is a continuous increase in the implementation of electronic content in vehicles which is hugely supporting the growth of the automotive relay market.
On the flip side, the automotive industry there is a lack of standardization, which might restrain the growth of automotive relay market as these are comparatively weaker than the conventional plug-in relays. Hence, in many applications, especially in power strain systems, conventional plug-in relays are still preferred. This factor may also act as a restraint in the automotive relay market in the forecast period.
The global automotive relay market is segmented based on type, load type, electric type, and region.
Based on the type, the market is further segmented as PCB, Plug-In, High Volt, Protective, Time. Of these, PCB relay is expected to rise the market during the forecast period. The reason behind is the increasing use of PCB relay in cruise control, electric steering, power windows, and sunroof. With this, the increased demands for PCB relay by the OEM’s have also pushed the market of automotive relays to a higher CAGR in the forecast period.
Based on the load type, the market has been segmented as small load, medium load, and heavy load. Of these, the heavy load has a significant market share due to having the ability to hold high power load in the electronic system. The capability to withstand higher power in the system has resulted in the increased usage of heavy load relay in the vehicles.
Geographically, Asia Pacific has landed the leadership position in the market during the forecast period witnessing the growing demand for an electric vehicle in emerging countries such as India, China, and Japan. These countries are the manufacturing hubs of the automotive industry, resulting in increased production of passenger and commercial vehicle. On the same time, the increasing demand for electric vehicles in China and Japan specifically have occurred in the increased use of an automotive relay in vehicles. This is majorly taking the automotive relay market to rise in the forecast period significantly.
Whereas, in North America, there has been witnessed that significant investments in the process by OEM’s to develop electric vehicles. Such expenditures for the development of electric vehicle is positively igniting the automotive relay market.
The key players in automotive relay market are TE Connectivity Corporation (Switzerland), Omron Corporation (Japan), Panasonic Corporation (Japan), Fujitsu (Japan), and Hella KGaA Hueck & Co. (Germany), Denso Corporation (Japan), American Zettler (U.S.), ABB Group (Switzerland), Eaton Corporation plc (Republic of Ireland), Sharp Corporation (Japan), NEC Corporation (Japan), Nippon-Aleph (Japan), Daesung Electric (India), Mouser Electronics, Inc.(U.S.).
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