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Increasing Demand for Vehicle Electrification to boost Automotive relay Market

The LCV relay segment is projected to grow at the fastest growth rate during the forecast period from 2017 to 2022. The North America region is estimated to witness a high growth in LCV production. In the U.S., the LCV production is projected to increase from 3.3 million units in 2017 to 4.4 million units by 2022. OEMs are focused on adding premium electronic features in LCVs, which influences the relay market for LCV segment.

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Increasing Demand for Vehicle Electrification to boost Automotive relay Market

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  1. Automotive Relay Market by Type (PCB, Plug-In, High Volt, Protective, Time), Load & Application (Door Lock, Power Window, Sunroof, Power Seat, EPS, Lighting, Fuel Injection, AC, Starter, Horn, Wiper), ICE & EV, and 48V Relay Market - Global Forecast to 2022 www.MarketsandMarkets.com

  2. Hybrid Electric Vehicle (HEV) segment is estimated to hold the largest market in the Electric Vehicle relay market The HEV segment is estimated to hold the largest market size in the electric vehicle relay market in 2017. HEVs have a combustion engine in addition to the electric motor and battery. On the other hand, in a BEV, the combustion engine gets replaced with an electric motor. Hence, in HEVs, the normal electronic applications will continue to exist along with a few additional electronic applications. Hence, the number of relays will increase in HEVs as compared to BEVs and PHEVs. The relays employed in electric vehicles have different voltage levels, with the power rating ranging from 1kW to 5kW depending on the application. For instance, in ICE passenger car, alternator was used to supply 12V power supply. On the other hand, in EVs and HEVs, this is performed by DC-DC converter with the help of high voltage batteries. Thus, the technical specifications will have a major influence in HEVs and EVs. PDF Brochure : https://www.marketsandmarkets.com/pdfdownload.asp?id=13970338

  3. LCV is estimated to be the fastest growing vehicle segment in the automotive relay market The LCV relay segment is projected to grow at the fastest growth rate during the forecast period from 2017 to 2022. The North America region is estimated to witness a high growth in LCV production.  In the U.S., the LCV production is projected to increase from 3.3 million units in 2017 to 4.4 million units by 2022. OEMs are focused on adding premium electronic features in LCVs, which influences the relay market for LCV segment. The adoption of applications such as HVAC, sunroof, starter motor, power seats, door lock, and others is also increasing at high growth rates. Hence, the relay market for this vehicle segment is estimated to grow at the fastest CAGR during the forecast period. Request for Customization : https://www.marketsandmarkets.com/requestCustomization.asp?id=13970338

  4. The automotive relay market is projected to grow at a CAGR of 6.20% from 2017 to 2022, to reach a market size of USD 16.75 Billion by 2022. Increase in the production of luxury segment vehicles, increasing electrification owing to demand for luxury and comfort, and changing government norms regarding the safety of vehicles are the key factors influencing the demand for the automotive relay market during the forecast period. PCB relay is estimated to be the fastest growing segment in this market. OEMs are using PCB relays in the major applications of a vehicle such as ABS, cruise control, doors, power steering, power windows, sunroof, and others. Increasing demand for electronic control modules coupled with electronic components has generated the demand for smaller devices that can be used for carrying greater current loads. Several Tier-1 suppliers and OEMs prefer using PCB relays owing to its miniaturized size, which saves significant space in the vehicle junction box. Request Sample @ https://www.marketsandmarkets.com/requestsample.asp?id=13970338

  5. Asia-Oceania region is estimated to be the leading market for automotive relay Asia-Oceania is estimated to dominate the automotive relay market, as the region represents countries such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to the Organisation Internationale des ConstructeursdAutomobiles (OICA) publication, these countries together contributed ~53% to the global vehicle production in 2016. Additionally,countrieslike China and India have become manufacturing hubs for automobiles. China’s initiative to reduce sales tax for passenger vehicles is expected to expand the overall volume of vehicle production by 15%–16% in 2016. India is also expected to be the fastest growing market due to increasing disposable income of people. The light vehicle sales in India showed a positive development in the second quarter of 2016, and new models and compact SUVs are driving the demand for vehicles. Increased sales would influence the automotive relay market. Speak to analyst @ https://www.marketsandmarkets.com/speaktoanalyst.asp?id=13970338

  6. Market Ecosystem: The market is led by the key automotive relay manufacturers such as TE Connectivity (Switzerland), Panasonic Corporation (Japan), Denso Corporation (Japan), Omron Corporation (Japan), and American Zettler (U.S.). The automotive relay components are supplied to major OEMs in the automotive industry such as Volkswagen (Germany), Nissan (Japan), Toyota Motor Corporation (Japan), Honda Motor Co. Ltd (Japan), and others. Buy Now: https://www.marketsandmarkets.com/Purchase/purchase_report1.asp?id=13970338

  7. Browse >> 108market data tables 57figures 197 pagesand in-depth TOC "Automotive Relay Market by Type (PCB, Plug-In, High Volt, Protective, Time), Load & Application (Door Lock, Power Window, Sunroof, Power Seat, EPS, Lighting, Fuel Injection, AC, Starter, Horn, Wiper), ICE & EV, and 48V Relay Market - Global Forecast to 2022“ Early buyers will receive 10% customization on this report. This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years to prioritize efforts and investments.

  8. Contact:Mr. Shelly SinghMarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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