The increase in electronics and safety requirements in electric vehicles is one of the key factors expected to trigger the electric vehicle relays market growth during the forecast period. The rising demand for relays is being further supported by the increasing requirement for safety components including anti-locking systems (ABS), electronic brakeforce distribution (EBD), and airbags among others. As a result, the growing number of applications in electric vehicles will result the global electric vehicle relays market growth in the forthcoming years. The analysts have predicted that the electric vehicle relays market will register a CAGR of over 33% by 2023.
Increasing adoption of battery electric vehicles and plug-in hybrid electric vehicles
Advances in charging systems have enhanced the adoption rate of battery electric vehicles and plug-in hybrid electric vehicles and will drive the global electric vehicle relays market during the forecast period.
Supply-demand imbalance amid demand uncertainties across the supply chain
Supply-demand imbalances caused amid demand uncertainties in electric vehicle and small electric and electromechanical part supplies, including resistors, inductors, sensors, and relays, are expected to challenge the global electric vehicle relays market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the electric vehicle relays market during 2019-2023, view the full report.
The market appears to be fragmented with the presence of several market players. Electric vehicle manufacturers have started adopting bidirectional chargers in their electric vehicle models. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2018
- Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: CUSTOMER LANDSCAPE
PART 07: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2018-2023
- North America - Market size and forecast 2018-2023
- Europe - Market size and forecast 2018-2023
- South America - Market size and forecast 2018-2023
- MEA - Market size and forecast 2018-2023
- Key leading countries
- Market opportunity
PART 08: MARKET SEGMENTATION BY RELAY TERMINAL
- Market segmentation by relay terminal
- Comparison by relay terminal
- PCB - Market size and forecast 2018-2023
- Plug-in - Market size and forecast 2018-2023
- Market opportunity by relay terminal
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Consolidation of relay market
- Rising adoption of advanced electric vehicle charging systems
- Advancements in relay design
PART 12: VENDOR LANDSCAPE
- Landscape disruption
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- DENSO Corp.
- Fujitsu Ltd.
- Panasonic Corp.
- Sensata Technologies Inc.
- TE Connectivity Corp.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
The author of the report recognizes the following companies as the key players in the global electric vehicle relays market: DENSO Corp., Fujitsu Ltd., Panasonic Corp., Sensata Technologies Inc., and TE Connectivity Corp.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the rising adoption of advanced electric vehicle charging systems.”
According to the report, one of the major drivers for this market is the increasing adoption of battery electric vehicles and plug-in hybrid electric vehicles.
Further, the report states that one of the major factors hindering the growth of this market is the availability of alternatives for relays.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.