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Automotive Relay Market by Relay Type, Application, Ampere, Vehicle Type, Electric Vehicle Relay Market by Ampere, Electric Vehicle Relay Market by Relay Type, Electric Vehicle Relay Market by Vehicle Type, Region - Global Forecast to 2027

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  • 276 Pages
  • December 2022
  • Region: Global
  • Markets and Markets
  • ID: 4871696

North America is Anticipated to be the Second-Largest Automotive Relay Market by 2027.

The automotive relay market is projected to grow from USD 12.2 billion in 2022 to USD 15.5 billion by 2027, at a CAGR of 5.0% for the same period. The key growth factor that drives the automotive relay demand is improving per capita income, especially in developing countries such as China, and India, which has shifted consumer preference from economy cars to mid-range cars. The mid-range vehicles are installed with more electronic components for advanced safety and comfort applications. Additionally, the demand for premium vehicles in European and North American countries contributes to the demand for automotive relays. On the other hand, an increase in electric and hybrid vehicle sales has spurred the demand for electric components such as electric compressors, batteries, tractor motors, electric motors, power electronics, and more. Also, the demand for a higher driving range and fast charging has made batteries and powerful motors an important aspect of electric vehicles. Many leading manufacturers offer high-voltage DC relays for electric vehicle applications. For instance, the Panasonic Corporation offers EV relays with a current range of 10A to 300A, available in various shapes with a switching capacity of around 2500A and 300V DC. Hongfa offers EV relays with a current range from 10A to 500A. Other key manufacturers invest heavily in research and development to develop EV relays for high-switching applications. Thus, the requirement of efficient relays with high power ratings and safety standards would become a critical element which is like to fuel the relay market from the electric and hybrid vehicles segment 

PCB relays are speculated to drive the automotive relay market under the review period.

Printed circuit board (PCB) relays to lead the relay types in ICE vehicles globally. The benefits of PCB relays are compact, lower weight, and high power rating capacity, which aligns with the OEM requirement. PCB relays can switch current up to 200A; hence, these relays find applications for most automotive features where the relay needs to be small enough to fit in limited space. Some applications of PCB relays in vehicles are door locks, power windows, sunroofs, headlamps, and tail lights, among others. Hence, compact size, higher rating, and smaller package than plug-in relays make them preferable among all other types of relays, and with growing demand for applications mentioned above in the vehicles would further drive the demand for PCB relays in coming years. 

Intelligent Park Assist is expected to be the rapidly growing automotive relay application during the forecast period.

The Intelligent Park Assist (IPA) is one of the premium comfort features aiding parking in modern vehicles. This technology has been introduced as vehicles on the road are constantly growing, limiting the availability of convenient parking spaces in congested urban areas. Hence, premium automakers are incorporating IPA to automatically and conveniently park their vehicles. Several manufacturers, such as Toyota, BMW, Lexus, Volkswagen, and Tesla, offer this system in their passenger car models. The relays are used for intelligent park assist, frequent switching operations, and signal communications. Hence, offering IPA technologies is currently limited to select premium models. With rising demand for mid- and premium vehicles, especially in Europe and North America, the adoption of intelligent park assist is expected to grow as simultaneously demand automotive relays in the future. 

North America is anticipated to be the second-largest automotive relay market by 2027.

According to the publisher's analysis, North America is projected to be the second-largest market for automotive relays by 2027. The region has a higher demand for passenger vehicles, particularly for mid-range & premium SUVs and pickup trucks, due to strong buying power, high per capita income, improved standard of living, and consumers' interest in off-roading purposes. According to the publisher's analysis, production share of mid-range and premium passenger vehicles in North America, stood at more than 80% in 2021. These vehicles are installed with more electronic components for advanced safety and comfort features such as automatic air conditioning, start-stop, EPS, heated steering and seats, traction control, adaptive cruise control, and so on. With increasing premium car sales, the region's demand for automotive relays for various applications would also grow.

Further, increasing industrialization, growing logistic business, and e-commerce industry have created a significant demand for heavy truck production and sales in the US. This would subsequently create the demand for automotive relays for basic functions such as fuel pumps, headlights and tail lamps, steering, wiper, indicators, etc. In addition, electric and hybrid vehicles have also recently seen a considerable adoption rate in North America. All these factors are expected to drive the market of automotive relays in the North American region

In-depth interviews were conducted with CXOs, VPs, directors from business development, marketing, product development/innovation teams, independent consultants, and executives from various key organizations operating in this market.

  • By Company Type: Tier 1 companies - 90%, Others - 10%
  • By Designation: Director Level - 30%, C Level - 60%, and Others - 10%
  • By Region: Asia Pacific - 45, North America - 30%, %, Europe - 20%, and Rest of the World - 5%

The automotive relay market is led by globally established players such as TE Connectivity (Switzerland), Omron Corporation (Japan), Panasonic Corporation (Japan), Hongfa Technologies Co. (China), Denso Corporation (and Fujitsu Component Limited (Japan). 

Research Coverage:

The study segments the automotive relay market and forecasts the market size based on Relay Type (PCB Relays, Plug In Relays, High Voltage Relays, Protective Relays, Signal Relays, Time Relays), By Application (Door Lock, Power Windows, Sunroof, Power Seat, Electronic Power Steering (EPS), Lighting, Fuel Injection, Air Conditioner, Starter, Anti-Lock Braking System (ABS), Traction Control System (TCS), Cooling Fan, Engine Management Module, Adaptive Cruise Control, Intelligent Park Assist), By Ampere (5A-15A, 16A-35A, >35A), By Vehicle Type (Economy cars, Mid-range cars, Premium cars, Light Commercial Vehicle, Heavy Duty Vehicles), Electric Vehicle Relay Market, By Ampere (5A-15A, 16A-35A, >35A), Electric Vehicle Relay Market, By Relay Type (Main Relay, Precharge Relay, Quick Charge Relay, Normal Charge Relay, High Voltage Accessories Relay), Electric Vehicle Relay Market, By Vehicle Type (Battery Electric Vehicle, Fuel Cell Electric Vehicle, Plug In Hybrid Electric Vehicle) and Region (Asia Pacific, Europe, North America, And Rest of The World).

The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. 

Key Benefits of Buying the Report:

The report will help the key market players operating in the automotive relay market with information on the closest approximations of the revenue numbers for the overall automotive relay market and the sub-segments. This report would also help stakeholders to understand fastest growing and largest market for automotive relay market at regional and global level for various sub-segments that are covered in the study. The report helps stakeholders to understand the competitive landscape, market share analysis and key growth opportunities, and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.4 Stakeholders
1.5 Summary of Changes

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data Key Secondary Sources for Relay Sales Key Data from Secondary Sources
2.1.2 Primary Data Sampling Techniques & Data Collection Methods Primary Participants
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Other Assumptions
2.6 Limitations

3 Executive Summary
3.1 Report Summary

4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Years Considered for the Study
5.3 Market Dynamics
5.3.1 Drivers
5.3.2 Restraints
5.3.3 Opportunities
5.3.4 Challenges
5.4 Porter's Five Force Analysis
5.5 Scenarios - Automotive Relay Market
5.5.1 Most Likely/Realistic Scenario
5.5.2 Pessimistic Scenario
5.5.3 Optimistic Scenario
5.6 Trends/Disruption Impacting Automotive Relay Manufacturers
5.7 Pricing Analysis
5.8 Technology Analysis
5.9 Case Study
5.10 Ecosystem
5.11 Supply Chain
5.13 Patent Analysis
5.14 Regulatory Framework
5.14.1 Regulatory Bodies, Government Agencies and Other Organizations
5.16 Key Conferences and Events in 2022-2023
5.16 Key Stakeholders & Buying Criteria

6 Automotive Relay Market, by Relay Type
6.1 Introduction
6.1.1 Research Methodology
6.1.2 Assumptions/Limitations
6.1.3 Industry Insights
6.2 Pcb Relay
6.3 Plug in Relay
6.4 High Voltage Relay
6.5 Protective Relay
6.6 Signal Relay
6.7 Time Relay

7 Automotive Relay Market, by Application
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions/Limitations
7.1.3 Industry Insights
7.2 Door Lock
7.3 Power Windows
7.4 Sunroof
7.5 Power Seat
7.6 Electronic Power Steering (Eps)
7.7 Lighting
7.8 Fuel Injection
7.9 Air Conditioner
7.10 Starter
7.11 Anti-Brake System (ABS)
7.12 Traction Control System
7.13 Cooling Fan
7.14 Engine Management Module
7.16 Cooling Fan
7.16 Adaptive Cruise Control
7.17 Intelligent Park Assist

8 Automotive Relay Market, by Ampere
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions/Limitations
8.1.3 Industry Insights
8.2 5A-16A Relay
8.3 16A-35A Relay
8.4 >35 Relay

9 Automotive Relay Market, by Vehicle Type
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions/Limitations
9.1.3 Industry Insights
9.2 Light Duty Vehicles
9.3 Heavy Duty Vehicles

10 Electric Vehicle Market, by Vehicle Type
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions/Limitations
10.1.3 Industry Insights
10.2 Battery Electric Vehicle(BEV)
10.3 Fuel Cell Electric Vehicle (Fcev)
10.4 Plug in Hybrid Electric Vehicle(PHEV)
10.5 48V Mild Hybrid Electric Vehicle

11 Electric Vehicle Relay Market, by Relay Type
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions/Limitations
11.1.3 Industry Insights
11.2 Pcb Relay
11.3 Plug in Relay
11.4 High Voltage Relay
11.5 Protective Relay
11.6 Signal Relay

12 Electric Vehicle Relay Market, by Ampere
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions/Limitations
12.1.3 Industry Insights
12.2 5A - 15A Relays
12.3 16A - 35A Relays
12.4 >35A Relays

13 Automotive Relay Market, by Region
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions
13.1.3 Industry Insights
13.2 Asia-Pacific
13.2.1 China
13.2.2 India
13.2.3 Japan
13.2.4 South Korea
13.2.5 Thailand
13.2.6 Indonesia
13.3 North America
13.3.1 US
13.3.2 Canada
13.3.3 Mexico
13.4 Europe
13.4.1 Germany
13.4.2 France
13.4.3 UK
13.4.4 Spain
13.4.5 Russia
13.4.6 Italy
13.5 Rest of the World (RoW)
13.6.1 Brazil
13.6.2 Iran
13.6.3 South Africa

14 Recommendations
15 Competitive Landscape
15.1 Key Player Strategies/Right to Win
15.2 Revenue Analysis of Key Players
15.3 Market Share Analysis
15.4 Company Evaluation Quadrant - Automotive Relay Manufacturers
15.4.1 Stars
15.4.2 Emerging Leaders
15.4.3 Pervasive Players
15.4.4 Participants
15.5 Company Evaluation Quadrant - EV Relay Manufacturer
15.4.1 Stars
15.4.2 Emerging Leaders
15.4.3 Pervasive Players
15.4.4 Participants
15.6 Competitive Scenario
15.4.1 New Product Launches
15.4.2 Deals
15.4.3 Expansions

16 Company Profiles
16.1 Key Players
16.1.1 Te Connectivity Business Overview Products Offered Recent Developments Analyst's View
16.1.2 Omron Industrial Automation
16.1.3 Panasonic Corporation
16.1.4 Hongfa Technologies Co.
16.1.5 Fujitsu Component Limited
16.1.6 Denso
16.1.7 Robert Bosch LLC
16.1.8 Mitsuba Corporation
16.1.9 Song Chuan Group Companies
16.1.10 Good Sky Electric Co. Ltd.
16.2 Other Players
16.2.1 Xiamen Level King Keep Electronics (Lkk)
16.2.2 Cit Relay and Switch
16.2.3 Picker
16.2.4 American Zettler
16.2.5 American Electronic Components
16.2.6 Hella GmbH & Co KGaA
16.2.7 Siemens
16.2.8 ABB Group
16.2.9 Coto Technologies
16.2.10 Sanyou Corporation Limited

17 Appendix
17.1 Currency & Pricing
17.2 Key Insights of Industry Experts
17.3 Discussion Guide
17.4 Knowledge Store: The Subscription Portal
17.5 Available Customizations

Executive Summary

Companies Mentioned

  • ABB Group
  • American Electronic Components
  • American Zettler
  • Cit Relay and Switch
  • Coto Technologies
  • Denso
  • Fujitsu Component Limited
  • Good Sky Electric Co. Ltd.
  • Hella GmbH & Co KGaA
  • Hongfa Technologies Co.
  • Mitsuba Corporation
  • Omron Industrial Automation
  • Panasonic Corporation
  • Picker
  • Robert Bosch LLC
  • Sanyou Corporation Limited
  • Siemens
  • Song Chuan Group Companies
  • Te Connectivity
  • Xiamen Level King Keep Electronics (Lkk)

Table Information