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Automotive Relay Market 2020 – COVID-19 Analysis, Global Size, Opportunities, Business Growth, Revenue, Emerging Technologies, Share, Trends, Key Players and Forecast to 2023

Jul 16, 2020 11:32 PM ET

iCrowd Newswire – Jul 16, 2020

Summary

The Automotive Relay Market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Automotive Relay Market highlights the future prediction and the growth alternatives that can be created.

Market Scenario

The automotive relay market is powered by increased automobile safety, increased electronic part count, increased electric vehicle sales and the adoption of advanced technology. The different devices used to improve protection and give passengers in the vehicle comfort include the use of automotive relay. Therefore the rise in the demand for automotive relays is also attributed to the improved safety and comfort program. The increased use of automotive relay in these systems would contribute to more market growth over the forecast period. Transforming the car industry from traditional to electrification, has resulted in the augmented use of electronic components in the vehicles. This will result in increased demand for car relay in passenger and commercial vehicles, which will drive market growth over the forecast period. The increased use of automotive relay in these systems would contribute to more market growth over the forecast period. Automotive industry ‘s transformation from traditional to electrification has resulted in increased use of electronic components in vehicles. This will lead to increased demand for car relays in passenger and commercial vehicles, which will drive market growth over the forecast period.

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Competitive Dynamics

The major players in automotive relay market are Omron Corporation (Japan), Panasonic Corporation (Japan), and Hella KGaA Hueck & Co. (Germany), Fujitsu (Japan), Daesung Electric (India), Denso Corporation (Japan), TE Connectivity Corporation (Switzerland), American Zettler (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.).

Market Segmentation

The automotive relay market is segmented by type, type of load, type of electric vehicle, and region. The market is segmented based on type, based on PCB, Plug-In, High Volt, Protective and 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 to dominate the automotive relay market during the forecast period. The increased demand by the OEMs for PCB relays has led to market growth during the forecast era, 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 to carry high power load in the electronic network, the heavy load is expected to dominate the automotive relay market. The capacity of the system to withstand higher power has resulted in increased use of heavy load relay in the vehicles.

Regional Outlook

The market was segmented across North America , Asia Pacific, Europe, and the rest of the world on the basis of the region. During the forecast period, Asia Pacific region is expected to dominate the automotive relay market due to growing demand for electric vehicles in emerging countries such as India, China and Japan. Emerging countries like India and China are the automotive industry ‘s manufacturing hubs which have led to increased passenger and commercial vehicle production. Increasing demand for electric vehicles in China and Japan has also led to increased use of auto relays in vehicles, which will drive the growth of automotive relay market in future. Over the review period, North America is projected to be the second largest region on the automotive relay market. There has been significant investment by the OEMs in developing electric vehicles in North America. Increased investment in electric vehicle technology would result in increased use of automotive relay in the vehicle network. That will lead to market growth over the forecast period.

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Keywords:    Automotive Relay Market, COVID-19 Analysis, Automotive Relay Market Size