As per estimates, in 2016, convenience systems procured almost 34% of the overall automotive relay market in terms of shipments. The profitability quotient of automotive relay market is claimed to be heavily influenced by the changing trend of automotive electronics business space, the former being an integral vertical of the latter. Statistics affirming the declaration- global automotive electronics industry in the year 2016, was valued more than USD 206 billion, and is slated to exceed a commercialization of USD 395 billion by 2024. The humongous figure, itself, is proof enough to document that the growth prospect of automotive relay market in the coming years is positively high.
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The superfluity of prominent automotive market giants in APAC belt is expected to position the region as one of the most lucrative growth avenues for automotive relay market. This is on account of the fact, that these automakers have been increasingly focusing on bringing tailor made features in the vehicle designs that has substantially led to increased product demand. In addition, favorable initiatives undertaken by the regional government with regards to emission control and product improvement would also complement the business proliferation. Estimates claim, with China at the growth front, APAC automotive relay marketis slated to witness a CAGR 4.5% over 2017-2024.
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.
Speaking of the application portfolio, powertrain system is profoundly one of the prominent business spheres where automotive relay industry penetration has been incredible. Today, these systems have been increasingly deploying plug-in-relays, subject to some of its excellent beneficiary features such as susceptibility to voltage fluctuations, elevated temperatures, and to extreme vibratory conditions. Estimates claim that powertrain systems application would procure more than 23% of the overall automotive relay market by 2024.
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 marketinclude 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.
Major Table of Content: –
Chapter 4 By Product
4.1 Global market share by product, 2016 & 2024
4.2 PCB relay
4.2.1 Market estimates and forecast from PCB relay, 2012 – 2024, (Million Units) (USD Million)
4.2.2 Market estimates and forecast from PCB relay by region, 2012 – 2024, (Million Units) (USD Million)
4.3 Plug-in relay
4.3.1 Market estimates and forecast from plug-in relay, 2012 – 2024, (Million Units) (USD Million)
4.3.2 Market estimates and forecast from plug-in relay by region, 2012 – 2024, (Million Units) (USD Million)
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)
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