Automotive Relay Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Automotive Relay Market by application(capacitive loads, inductive loads and resistive loads); vehicle type(commercial vehicles, passenger vehicles and electric vehicles) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Automotive Relay Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Automotive Relay Market are Omron Corporation, Panasonic Corporation, ABB Group, Denso Corporation, Delphi Automotive LLP, Robert Bosch GmbH, Eaton Corporation plc, American Zettler Inc., Beta Electric Industry Co. Ltd., and Fujitsu Limited. According to report the global automotive relay market is expected to grow at a CAGR of 6.1% over the forecast period of 2017 – 2023.
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Europe to emerge as most lucrative market over the next 6 years
Stringent regulations regarding the driver safety has made Europe to account for the largest share in the automotive relay market. Moreover, the developing economies such as India and china are are strengthening their business due to the presence of various industry participants. Many European countries follow incentive-based programs for promoting the usage of electricvehicles. However, rising investments of the OEM’S and favorable regulatory landscape is expected to fuel the demand in Asia Pacific regions.PCB relays are used in a majority applications such as ABS, cruise control, doors, power steering, power windows, and sunroof are used majorly in the countries Europe and North America.Moreover, increasing automobile demand in Asia Pacific, particularly China, and Japan is expected to drive regional market growth over the forecast period.
Automotive relay to expand at a CAGR of 6.1%
Increasing vehicular safety regulation is the factor driving the growth of the automotive relay market. Owing to the safety and benefits the systems such as advanced driver assistance systems (ADAS), electronic stability control, and electronic steering systems are gaining momentum worldwide. Furthermore, high power requirement for heavy equipment’s that operates in harsh environment is expected to accelerate the product penetration. Moreover, rising interest in clean energy and the need to meet energy efficient standards is expected to induce immense potential to automotive replay market said Mr. Mahesh Chaudhary a research analyst at Infinium global research. However, vehicles operate on 48V battery nevertheless the relays used for the batteries are slightly different thus, resulting into no capital investments and the economic scale can be achieved very easily. Therefore,unavailability of standard relay design is anticipated to hinder the growth of the automotive relay market. Furthermore, development in PCB relays has been done to reduce the vehicle weight and increase the fuel efficiency of the vehicle .This factor is witnessing huge growth opportunities for the key players in the automotive relay market. Furthermore,Smartphone production coupled with increasing communication speed is expected to further strengthen the adoption of these systems, which in turn is expected to increase automotive relay installation.
Current market environment is witnessing an intense competition between the key players
The leading companies identified in the market are ABB Group, Denso Corporation, Eaton Corporation plc, and Fujitsu Limited. Moreover, little fuse acquired TE connectivity for the circuit protectionbusiness. By expanding its business in auto electronics little fuse,acquisitions increased its presence in the japan and increased the product portfolio.New product developments will build strong product portfolio for a company and build competitive advantage with diverse customer base and established relationships with OEMs and its channel partners.According to General Safety Regulation (EC) No 661/2009 of Europe, several new features have been made compulsory for the lightweight vehicles, commercial cars, and new passenger cars.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015 – 2023. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017 – 2023.
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Major Key Players Mentioned in this Premium Report
The report provides profiles of the companies in the global automotive relay market such as, Omron Corporation, Panasonic Corporation, ABB Group, Denso Corporation, Delphi Automotive LLP, Robert Bosch GmbH, Eaton Corporation plc, American Zettler Inc., Beta Electric Industry Co. Ltd., and Fujitsu Limited.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global automotive relay market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of automotive relay market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the automotive relay market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the automotive relay market to understand the present and future trends in this market and formulate their strategies accordingly.