North America automotive relay market to grow at a rate 5% over the coming seven years, having amassed a revenue of more than USD 2 billion in 2016. The rapidly growing demand for relays, especially in the automotive aftermarket in countries such as Mexico is expected to massively augment the regional business expansion.
The industry players focus on the technological advancements in their products which have resulted in high replacement frequency of plug-in relays with PCBs, supporting the industry growth till 2024. Increasing speed of communication along with proliferating acceptance of smartphones across the globe will further propel the automotive relay market size.
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Some of the prominent biggies involved in automotive relay industry include American Zettler Inc, Denso Corporation, ABB Ltd., Panasonic, NEC Corporation, Nippon Aleph corporation, and Eaton Corporation. Leading companies are focusing on honing their distribution channel to ensure a stronger presence in the strategic landscape.
For instance, Microsemi Corporation has introduced a new distribution sales channel, Microsemi Direct, to provide highest level of sales support to North American customers. Moreover, M&A, strategic partnership, and product portfolio expansion will continue to be the focus areas of automotive relay market investors over the forthcoming years.
PCBs are projected to acquire over 75% of the total automotive relay market till 2024. The high revenue generation is attributed to the rising demand for compact devices across the automobile industry. Moreover, benefits such as their high current carrying capacity and significant space saving due to the miniaturized will escalate the industry over the forecast timespan. Manufacturers of PCB relays focus on penetration into potential business and continuous innovations in their products to diversify their product line.
Littelfuse’s yesteryear acquisition of TE Connectivity’s circuit protection business is an apt instance of automotive relay marketplace depicting signs of consolidation in the competitive landscape. Elaborating further on the aforementioned deal, the Chicago based automotive electronics manufacturer has reportedly closed a deal with TE Connectivity in an all cash transaction of USD 350 million in 2016, in a bid to strengthen its position in the automotive relay business space.
Browse key industry insights spread across 365 pages with 360 market data tables & 9 figures & charts from the report, “Automotive Relay Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/automotive-relay-market
Glimpse of Table of Content (ToC): –
Chapter 5. Automotive Relay Market, By Application
5.1. Global automotive relay market share by application, 2016 & 2024
5.2. Powertrain systems
5.2.1. Market estimates and forecast for powertrain systems, 2012-2024, (Million Units) (USD Million)
5.2.2. Market estimates and forecast for powertrain systems by region, 2012-2024, (Million Units) (USD Million)
5.3. Body & chassis
5.3.1. Market estimates and forecast for body & chassis, 2012-2024, (Million Units) (USD Million)
5.3.2. Market estimates and forecast for body & chassis by region, 2012-2024, (Million Units) (USD Million)
5.4.1. Market estimates and forecast for convenience, 2012-2024, (Million Units) (USD Million)
5.4.2. Market estimates and forecast for convenience by region, 2012-2024, (Million Units) (USD Million)
5.5. Safety & security
5.5.1. Market estimates and forecast for safety & security, 2012-2024, (Million Units) (USD Million)
5.5.2. Market estimates and forecast for safety & security by region, 2012-2024, (Million Units) (USD Million)
5.6. Driver information
5.6.1. Market estimates and forecast for driver information, 2012-2024, (Million Units) (USD Million)
5.6.2. Market estimates and forecast for driver information by region, 2012-2024, (Million Units) (USD Million)
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-relay-market
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