Market Scenario
The automotive relay market ispowered by increased automobile safety, increased electronic part count,increased electric vehicle sales and the adoption of advanced technology. Thedifferent devices used to improve protection and give passengers in the vehiclecomfort include the use of automotive relay. Therefore the rise in the demandfor automotive relays is also attributed to the improved safety and comfortprogram. The increased use of automotive relay in these systems wouldcontribute to more market growth over the forecast period. Transforming the carindustry from traditional to electrification, has resulted in the augmented useof electronic components in the vehicles. This will result in increased demandfor car relay in passenger and commercial vehicles, which will drive marketgrowth over the forecast period. The increased use of automotive relay in thesesystems would contribute to more market growth over the forecast period.Automotive industry 's transformation from traditional to electrification hasresulted in increased use of electronic components in vehicles. This will leadto increased demand for car relays in passenger and commercial vehicles, whichwill drive AutomotiveRelay Market growth over the forecast period.
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Market Segmentation
The market for automobile relaysis segmented by type, type of load, type of electric vehicle, and region. Themarket is segmented based on type, based on PCB, Plug-In, High Volt, Protectiveand Time. Due to the growing use of PCB relays in applications such as cruise control,electric steering, power windows, and sunroof, PCB relay is expected todominate the automotive relay market during the forecast period. The increaseddemand by the OEMs for PCB relays has led to market growth during the forecastera, as it can withstand heavy loads. The market was segmented as small load,medium load, and heavy load, based on the load size. Because of the ability tocarry high power load in the electronic network, the heavy load is expected todominate the automotive relay market. The capacity of the system to withstandhigher power has resulted in increased use of heavy load relay in the vehicles.
Regional Outlook
The market was segmented acrossNorth America , Asia Pacific, Europe, and the rest of the world on the basis ofthe region. During the forecast period, Asia Pacific region is expected todominate the automotive relay market due to growing demand for electricvehicles in emerging countries such as India, China and Japan. Emergingcountries like India and China are the automotive industry 's manufacturinghubs which have led to increased passenger and commercial vehicle production.Increasing demand for electric vehicles in China and Japan has also led toincreased use of auto relays in vehicles, which will drive the growth ofautomotive relay market in future. Over the review period, North America isprojected to be the second largest region on the automotive relay market. Therehas been significant investment by the OEMs in developing electric vehicles inNorth America. Increased investment in electric vehicle technology would resultin increased use of automotive relay in the vehicle network. That will lead tomarket growth over the forecast period.
Competitive Dynamics
The major players in automotiverelay market are Omron Corporation (Japan), Panasonic Corporation (Japan), andHella KGaAHueck& Co. (Germany), Fujitsu (Japan), Daesung Electric (India),Denso Corporation (Japan), TE Connectivity Corporation (Switzerland), AmericanZettler (U.S.), Eaton Corporation plc (Republic of Ireland), Sharp Corporation(Japan), ABB Group (Switzerland), NEC Corporation (Japan), Nippon-Aleph(Japan), Mouser Electronics, Inc.(U.S.).
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