The global automotive relay market is anticipated to reach USD 19.5 billion by 2025, according to a new report by Grand View Research, Inc. Increasing vehicular safety regulations in various regions across the globe is driving the automotive relay market. Further, increasing adoption of electric vehicles amongst passenger car segment end users has made automotive electronics including the automotive relay industry to gain significant market share.
Systems such as advanced driver assistance systems (ADAS), electronic stability control, electronic steering systems, brake-by-wire systems, and airbags are gaining momentum across the globe, owing to their safety and comfort benefits. Strict safety guidelines employ substantial pressure on Tier-1 suppliers and the OEMs to design improved safety systems for automobiles. According to General Safety Regulation (EC) No 661/2009 of Europe, from 1 November 2014, several new safety features have been made obligatory for light trucks, heavy commercial vehicles and new passenger cars. Furthermore, there is a growing demand for enhanced comfort and convenience in automobiles.
Many governments provide lucrative offers to promote the selling and usage of Electric Vehicles EVs. Tax benefits are provided at the time of purchase. However, the extent of exemption depends on the size of batteries used in the vehicle. In the United States, insurance companies provide discounts on insurance policies to customers and utility companies are offering low electricity rates. Also, few states offer credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment. Many European countries follow incentive-based programs for promoting EVs. Countries, like Germany and Austria, offer tax exemptions and reductions.
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Key Takeaways from the report:
The increasing vehicular safety norms across the globe and growing adoption of electric passenger car vehicles amongst end users are expected to drive the market.
Electric automotive parts have diversified over the past decade, leading to an increase in the number of relays used as switching devices as well as variation in the required features of each relay
Asia Pacific is a key revenue generating region and captured a significant market share in 2016. The region exhibits a high growth potential, which may be attributed to high vehicle demand in this region.
The key players in the market include ABB Group, Denso Corporation, Eaton Corporation plc, Fujitsu Limited, Hella KGaA Hueck & Co. (HELLA).
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Research process
1.1.1 Information procurement
1.1.2 Purchased database
1.1.3 GVR’s internal database
1.2 Research methodology
1.3 Geographic scope
1.4 Research scope & assumptions
1.5 List of data sources
Chapter 2 Executive Summary
2.1 Automotive Relay regional market place: Key takeaways
Chapter 3 Automotive Relay Market Variables, Trends & Scope
3.1 Automotive Relay – Market segmentation & scope
3.1.1 Market definitions
3.2 Automotive Relay – Penetration & growth prospect mapping
3.3 Automotive Relay – Market Dynamics
3.3.1 Automotive Relay – Market dynamics
3.3.2 Market driver analysis
188.8.131.52 Stringent Safety Regulation And Demand For Comfort & Luxury
184.108.40.206 Increasing adoption of electric vehicles
220.127.116.11 Growing adoption of the vehicular safety technology
3.4 Automotive Relay – Porter’s analysis
3.5 Automotive Wiring Harness – Industry Trend Analysis
3.7 Automotive Relay – Key Company Analysis
Chapter 4 Automotive Relay Market: Product Estimates & Trend Analysis
4.1 Automotive Relay Market: Product Movement Analysis
4.2 PCB Relay
4.2.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
4.3 Plug-in Relay
4.3.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
4.4 High Voltage Relay
4.4.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
4.5.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
Chapter 5 Automotive Relay Market: Vehicle Type Estimates & Trend Analysis
5.1 Automotive Relay Market: Vehicle Type Movement Analysis
5.2 Passenger Vehicles
5.2.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
5.3 Commercial Vehicles
5.3.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
5.4 Electric Vehicles
5.4.1. Global market estimates and forecasts, 2014 – 2025 (USD Billion)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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