Automotive Relay Market worth 16.75 Billion USD by 2022

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MarketsandMarkets Presents
Automotive Relay Market worth 16.75 Billion USD
by 2022
http//www.marketsandmarkets.com/Market-Reports/au
tomotive-relay-switche-market-13970338.html
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The report "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", The automotive
relay market is projected to grow at a CAGR of
6.20 during the forecast period, to reach a
market size of USD 16.75 Billion by 2022. The key
factors driving the market are increasing demand
for vehicle electrification and increasing sales
of electric and hybrid vehicles, leading to
increased demand for high voltage
relays. Browse 108 market data tables and 57
figures spread through 197 pages and in-depth TOC
on "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" http//www.mark
etsandmarkets.com/Market-Reports/automotive-relay-
switche-market-13970338.html Early buyers will
receive 10 customization on reports.
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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. 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.
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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
worlds highest vehicle production. According to
the Organisation Internationale des Constructeurs
d'Automobiles (OICA) publication, these countries
together contributed 53 to the global vehicle
production in 2016. Additionally, countries
like China and India have become manufacturing
hubs for automobiles. Chinas initiative to
reduce sales tax for passenger vehicles is
expected to expand the overall volume of vehicle
production by 1516 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. The key
automotive relay manufacturers profiled in the
report include TE Connectivity (Switzerland),
Panasonic Corporation (Japan), Denso Corporation
(Japan), Omron Corporation (U.S.), 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.
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tomotive-relay-switche-market-13970338.html
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