Marketing administration took a systematic and management approach when creating the Automotive Relay market research study, paying close attention to the target markets’ thoughts, feelings, preferences, attitudes, convictions, and value systems. This global market research is the ideal option for the success of the business at the local, regional, and worldwide levels. The research investigations completed for the extensive Automotive Relay market report aid in making educated guesses about a number of critical elements, including but not limited to investments in developing markets, the success of new products, and the growth of market share.
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The comprehensive Automotive Relay market survey report provides an ideal window into the industry which explains what market definition, classifications, applications, engagements, and market trends are. The report also recognizes and analyses the emerging trends along with major drivers, challenges, and opportunities in the Market. The report highlights CAGR value fluctuations during the forecast period of 2022-2032 for the market. The base year for calculation in the report is considered as 2021 while the historic year is 2022 which will tell how the Automotive Relay market is going to act upon in the forecast years by giving information about several market insights.
Additional Questions Answered
Have automotive relays partially overpowered conventional manual switches or still there is a long way to go?
What efforts are the manufacturers in the automotive relay market making to leverage on increasing demand for EVs and hybrid Electric vehicles?
Which segment will lead in the automotive relay market in terms of share, PCB relay, and plug-in relay?
How will increasing vogue for premium and mid-priced passenger cars impact the automotive relay market?
Automotive relays are small components and do not cost a lot on the manufacturing side. Automakers can switch to different types of automotive relays without flexing their spending. In 2017, the global automotive relays market is expected to reach a value of US$ 12 Bn. Increasing dependency of other on-board electronic features in vehicles on automotive relays is also driving their demand. By the end of 2022, the global automotive relays market will reflect a steady growth at steady CAGR and bring in US$ 15.6 Bn in revenues.
Following highlights from Fact.MR’s forecast on the global automotive relays market will project the market’s future prospects.
In 2017, over US$ 9 Bn worth of automotive relays sold in the world were PCB relays. Demand for PCB relays over their plug-in counterparts is expected to remain higher.
Passenger car manufacturers from around the world are actively adopting automotive relays, as opposed to the makers of commercial vehicles. By 2022, passenger vehicles will contribute more than US$ 10 Bn in revenues to the global automotive relays market.
Application of automotive relays in powertrain systems is gaining traction. The report expects that global revenues amassed from sales of automotive relays in powertrain application will register a healthy CAGR over the forecast period.
Region-wise, the largest market for automotive relays is the Asia-Pacific excluding Japan (APEJ) region. APEJ countries such as China and India are leading contributors to global automobile production. Through 2022, the APEJ automotive relays market will soar vigorously at a soaring CAGR.
North America’s automotive relays market is also expected to witness substantial growth during the forecast period. Rising sales of EVs equipped with advanced automotive relays is expected to drive the region’s global market presence. In 2017, more than US$ 2.4 Bn worth of revenues were netted through sales of automotive relays across the US and Canada.
Europe will also be observed as a lucrative region for automotive relay manufacturers. Greater inclination of European customers towards electronically-equipped vehicles is slated to drive the adoption of automotive relays. Going forward, revenues accounted by Europe in the global automotive relays market will incur a speedy yet steady growth at stable CAGR.
The report indicates that largest sales channel for automotive relays will be aftermarkets. Through aftermarket sales, the global automotive relays market is expected to witness an influx of nearly US$ 8 Bn revenues by the end of 2017.
Infineon Technologies AG, Denso Corporation, Panasonic Corporation, Fujitsu Limited, Delphi Automotive Plc., HELLA KGaA Hueck & Co., TE Connectivity Ltd., and Eaton Corporation are leading manufacturers of automotive relays profiled in the report.
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Competitive Dynamics
The current ecosystem of automotive relay market is witnessing an exceptional competition among the key industry participants for attaining domination in automotive relay market.
This has led to surging consolidation through initiatives such as alliances and acquisitions in the automotive relay market. Some of the major players operating in automotive relay market and included in this report are
Delphi Automotive
HELLA KGaA Hueck & Co..
Eaton Corporation PLC.
TE Connectivity Ltd.
Panasonic Corporation
Denso Corporation
Fujitsu Limited
Infineon Technologies AG.
Report Benefits & Key Questions Answered
Automotive Relay Company & brand share analysis: The report offers in-depth Automotive Relay brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
Automotive Relay Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Relay and projected sales performance for 2021-2031
Automotive Relay Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
Automotive Relay Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
Post COVID consumer spending on Automotive Relay: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power
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More Valuable Insights on Automotive Relay Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Relay, Sales and Demand of Automotive Relay, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.