Automotive Relay Market worth over $18bn by 2024

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Automotive Relay Market Price, Trends, Industry
Outlook Forecast 2017-2024
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Key Insights from Automotive Relay Market

• Continuously rising demand for innovative
  products along with growing automobile production
  is boosting the industry growth over the forecast
  timespan. Industry gains are credited to
  advancements in miniaturization and high contact
  capability development to address limitations
  during its employment in the vehicles ECU.
  Ongoing developments in printed circuit boards
  (PCBs) have led to replacement of complex and
  traditional relays. Technological advancements
  also support in weight reduction and ease of
  installation.
• Advent of nascence technology in the automobile
  industry may introduce advanced electronic device
  in the next eight years. This product improves
  the intelligent transportation systems,
  automobile safety, and space consumption.
  Innovations will aid in improving quality,
  flexibility, production time tables,
  functionality, and efficiency.
• Convenience systems holds the highest industry
  revenue share and will continue its dominance
  over the forecast timeframe. The modern HVAC
  systems in vehicles are equipped with numerous
  switches for the ease of driver. In 2016,
  convenience systems accounted for over 34 of the
  automotive relay market share in terms of unit
  shipments.

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Continued...

• Electronic power steering is one of the
  convenience system that witnesses high product
  adoption rate owing to its specifications such as
  large switching capacity, space saving, compact
  size, and high level of compatibility. Due to
  these notable features, the product acceptance is
  also high in other convenience applications
  including infotainment, interior lights, and
  keyless entry systems, supporting the automotive
  relay market dominance over the forecast time
  line.
• Powertrain systems are anticipated to account for
  approximately 23.5 industry revenue share over
  the forecast timeline owing to high usage of
  plug-in relays in these systems. Plug-in relays
  are preferred in powertrain systems due to its
  features such as ability to sustain in elevated
  temperatures, fluctuations, and vibrations. The
  powertrain systems are susceptible to frequent
  voltage fluctuations along with high surge loads,
  thus require high switching capacity, and
  escalating the industry demand over the next
  eight years.

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U.S. Automotive Relay Market Size, By
Application, 2016 2024 (USD Million)

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Major Companies in Automotive Relay Market

• ABB
• TE Connectivity
• Cynergy3 Components Corporation
• Denso Corporation
• Fujitsu
• Eaton Corporation
• Omron Corporation
• Littelfuse

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Industry Coverage

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Regional Insights in Automotive Relay Market

• Asia Pacific is anticipated to dominate the
  industry revenue share over the forecast
  timeframe. This growth is attributed to increased
  vehicle manufacturing across the region,
  especially in emerging economies including India,
  China, and Indonesia. China is a substantial
  contributor in the regional industry revenue
  generation. Increasing automobile production
  coupled with rising domestic demand will propel
  the countrys share over the projected time span.
• North America industry was valued at over USD 2
  billion in 2016 and is expected to exhibit 5
  CAGR in the projected time line owing to the
  matured automobile industry in the region.
  Moreover, the presence of well-established
  players will strengthen the regional business
  position over the next eight years. Rising
  product aftermarket demand from countries like
  Mexico will further induce immense potential to
  the automotive relay market growth rate till 2024.

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