Automotive relay market from PCBs product to acquire over 75% industry share by 2024. he 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.
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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.
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.
As per estimates, APAC automotive relay market is slated to witness a CAGR 4.5% over 2017-2024.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.
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Some of the prominent biggies involved in automotive relay market 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.
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)
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