The latest report by IMARC Group, titled “Automotive Relay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global automotive relay market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive relay market reached a value of US$ 15.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.2 Billion by 2027, exhibiting a CAGR of 5.6% during 2022-2027. An automotive relay is an electromechanical switching device that uses a coil to generate magnetic force to control and operate high current circuits in vehicles. It is installed in infotainment systems, harnesses, and box modules like the horn, headlight, auxiliary lamp, blower motor, fan motor, rear and front area, body control, engine, powertrain, roof, seat, and door. Presently, it is available in various types, including power, mini, micro and solid-state relays, which support advanced safety features and increase passenger comfort.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape
- Strategies of major players and product offerings
Market Trends and Drivers:
The increasing demand for luxurious and smart vehicles due to rapid urbanization and inflating income levels is influencing the adoption of the latest infotainment systems in automobiles, which is one of the key factors driving the market growth. In addition, stringent regulations imposed by governments of numerous countries regarding fuel efficiency have increased the need for vehicle electrification, representing another major growth-inducing factor. Besides this, the rising incidences of fatal road accidents are escalating the demand for automotive relays in switches for airbags, backup sensing systems, seat belts, head-up display (HUD), energy-absorbing steering, and head restraints. Moreover, the market is favored by the increasing adoption of off-road vehicles for construction purposes due to the rising investments in infrastructural development.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd.
- BorgWarner Inc.
- DENSO Corporation
- Eaton Corporation plc
- Fujitsu Limited (Furukawa Co. Ltd.)
- HELLA GmbH & Co. KGaA
- Littelfuse Inc.
- LS Automotive India Pvt Ltd.
- OMRON Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Siemens AG
- TE Connectivity
Breakup by Product:
- PCB Relay
- Plug-in Relay
- High Voltage Relay
Breakup by Application:
- Powertrain Systems
- Body and Chassis
- Safety and Security
- Driver Information
Breakup by Vehicle Type:
- Passenger Vehicles
- Commercial Vehicles
- Electric Vehicles
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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