According to a new market report published by Lucintel, the future of the global automotive relay market looks promising with opportunities in the passenger car and light commercial vehicle segments. The global automotive relay market is expected to grow with a CAGR of 6% from 2021 to 2026. The major drivers for this market are considerable automotive safety regulations, growing electronic content in vehicles, and excellent flexibility of relay systems.
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In this market, PCB relay and plug-in relay product type are used in automotive relay. On the basis of comprehensive research, Lucintel forecasts that PCB relay will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to the rising investments for continuous development, innovation of products with the capability to carry higher current loads, and increasing demand for electronic control modules and electronic components. This factor has generated the need for smaller devices that are competent of carrying greater current loads.
Within the global automotive relay market, the driver information segment is expected to witness the highest growth over the forecast period due to the emergence of advanced technologies, including weather & traffic information, GPS, location, and navigation services in vehicles.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing disposable income, consumers’ demand for advanced technologies and featured vehicles, and growing demand for connectivity and digitalization.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of smart/intelligent relays, development of miniaturization and high contact capability, and implementation of electronic content. TE Connectivity, Omron Corporation, Denso Corporation, ABB Ltd, Eaton Corporation, Lear Corporation, Delphi Automotive, Siemens AG, Panasonic Corporation, and NEC Corporation are among the major suppliers of the automotive relay market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive relay market by product type, application, vehicle type, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Relay Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global automotive relay market by product type, application, vehicle type, and region, as follows:
By Product Type [Value ($ Million) from 2015 to 2026]:
By Application [Value ($ Million) from 2015 to 2026]:
Powertrain Systems
Body & Chassis
Convenience
Safety & Security
Driver Information
By Vehicle Type [Value ($ Million) from 2015 to 2026]:
Passenger Cars
Light Commercial Vehicles
By Region [Value ($ Million) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
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