Global Automotive Relay Market - Analysis of Growth, Trends, and Forecast (2022 - 2030)
The Global Automotive Relay Market is anticipated to register a CAGR of 6.32% during the forecast period, until 2023. Factors, such as, increasing trends toward vehicle electrification, safety, fuel efficiency standards, and stringent emission norms are driving the market.
The primary purpose of a relay is to act as a switch. In addition, they are used to switch between different circuits. Relays in automotive have been in existence since electronics were introduced, and their numbers are still on the rise, due to the increasing electrification of vehicles. Relays consist of an electromagnet, wherein the input current causes the coil to generate a magnetic field, which causes the contacts to meet, and thus, the circuit is established. If the input voltage is insufficient, the contacts will not meet due to the weak magnetic field.
Increasing Use of Electronic Components to Drive the Market
The number of semiconductors, which are used in cars, has increased at almost twice the rate of the vehicle production. Hence, ECUs are more complex currently, with the rise in the number of electronic components, and have a direct impact on the electromagnetic compatibility (EMC) targets. For instance, the shift of the automotive scenario toward X by wire systems (throttle, brake, and gear-shift) has caused the increased adoption of relays in vehicles. A passenger vehicle uses about 30 relays, on an average. Additionally, the increasing vehicle connectivity and sophistication of electronics in vehicles are the factors fueling the global automotive relay market.
Relays have been in use since a few decades. Not many developments have been observed in relays, during the recent past. Few changes or developments that have taken place are the introduction of Solid State Relays and Intelligent Power Distributors (IPDs). These are used as substitutes, due their characteristics, such as multi-purpose functionality, flexibility in component placement and assembly, and increased lifetime, among others.
PCB relays are the most used and are growing the fastest, due to their wide range of applications. Their small size and lightweight properties have increased their usage in vehicles. In the application segment, door lock has the largest share, since current has to distribute from one door to another.
Increasing Electric Vehicle Sales and Adoption of Hybrid Vehicles to Push the Market
Increasing stringent emission regulations have fueled the rise in sales of electric vehicle. The rise in hybridization of vehicles by automakers has created a need for relays in electric vehicles. Although, EVs are not as prominent as ICEs, many steps were taken by the governments of different countries for increasing electric vehicle sales, causing a prolific growth in electric vehicles. The vehicles operate on 48V battery packs, thus, relays for the battery packs are slightly different from the usual relays. However, the basic construction is almost the same, resulting in no excessive capital investment in machinery. Also, economies of scale can be achieved relatively easily.
Key Developments in the Market:
• February 2018: Denso Corporation showcased its new range of relays for electric vehicles.
• January 2018: Toshiba Electronic Devices and Storage Corporation released small dual MOSFET for relays.
Major Players: AMERICAN MITSUBA MICHIGAN, ANDEN CO. LTD, ROBERT BOSCH GMBH, DELPHI AUTOMOTIVE PLC, DENSO CORPORATION, HELLA KGAA HUECK & CO., amongst others.
Reasons to Purchase this Report
• A study on the adoption of newer technologies and their effects on the global automotive relay market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• The type of relays that is expected to dominate the market during the forecast period.
• The regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in Excel).
Customization of the Report
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
The primary purpose of a relay is to act as a switch. In addition, they are used to switch between different circuits. Relays in automotive have been in existence since electronics were introduced, and their numbers are still on the rise, due to the increasing electrification of vehicles. Relays consist of an electromagnet, wherein the input current causes the coil to generate a magnetic field, which causes the contacts to meet, and thus, the circuit is established. If the input voltage is insufficient, the contacts will not meet due to the weak magnetic field.
Increasing Use of Electronic Components to Drive the Market
The number of semiconductors, which are used in cars, has increased at almost twice the rate of the vehicle production. Hence, ECUs are more complex currently, with the rise in the number of electronic components, and have a direct impact on the electromagnetic compatibility (EMC) targets. For instance, the shift of the automotive scenario toward X by wire systems (throttle, brake, and gear-shift) has caused the increased adoption of relays in vehicles. A passenger vehicle uses about 30 relays, on an average. Additionally, the increasing vehicle connectivity and sophistication of electronics in vehicles are the factors fueling the global automotive relay market.
Relays have been in use since a few decades. Not many developments have been observed in relays, during the recent past. Few changes or developments that have taken place are the introduction of Solid State Relays and Intelligent Power Distributors (IPDs). These are used as substitutes, due their characteristics, such as multi-purpose functionality, flexibility in component placement and assembly, and increased lifetime, among others.
PCB relays are the most used and are growing the fastest, due to their wide range of applications. Their small size and lightweight properties have increased their usage in vehicles. In the application segment, door lock has the largest share, since current has to distribute from one door to another.
Increasing Electric Vehicle Sales and Adoption of Hybrid Vehicles to Push the Market
Increasing stringent emission regulations have fueled the rise in sales of electric vehicle. The rise in hybridization of vehicles by automakers has created a need for relays in electric vehicles. Although, EVs are not as prominent as ICEs, many steps were taken by the governments of different countries for increasing electric vehicle sales, causing a prolific growth in electric vehicles. The vehicles operate on 48V battery packs, thus, relays for the battery packs are slightly different from the usual relays. However, the basic construction is almost the same, resulting in no excessive capital investment in machinery. Also, economies of scale can be achieved relatively easily.
Key Developments in the Market:
• February 2018: Denso Corporation showcased its new range of relays for electric vehicles.
• January 2018: Toshiba Electronic Devices and Storage Corporation released small dual MOSFET for relays.
Major Players: AMERICAN MITSUBA MICHIGAN, ANDEN CO. LTD, ROBERT BOSCH GMBH, DELPHI AUTOMOTIVE PLC, DENSO CORPORATION, HELLA KGAA HUECK & CO., amongst others.
Reasons to Purchase this Report
• A study on the adoption of newer technologies and their effects on the global automotive relay market.
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
• The type of relays that is expected to dominate the market during the forecast period.
• The regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments, market shares, and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in Excel).
Customization of the Report
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
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