Global Automotive Relay Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Automotive Relay Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Product (PCB Relay, Plug-in Relay, High Voltage Relay, Optical Attenuators, and Others), Vehicle Type (Passenger Vehicles, Commercial Vehicles, and Electric Vehicles), Application (Resistive Loads (HVAC), Capacitive Loads (Engine Management Module, Fog Lights, ABS Module, and Front and Rear Beam), and Inductive Loads (Power Window, Central Lock, Cooling Fan, and Clutches)), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)a
Market Overview
The Global Automotive Relay Market was valued at USD 14,635.8 million in 2023 and is expected to reach USD 27,291.1 million by 2031 while growing at a CAGR of 8.1% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global automotive relay market growth. An automotive relay, a vital component in a vehicle's electrical system, acts as an electrical switch overseeing high-current circuits. Facilitating the flow of electricity to various components, its primary function is to allow a low-power circuit to control a high-power circuit, ensuring efficient and safe operation of electrical devices in a vehicle.
Increasing vehicle electrification and growing demand for advanced safety features propel the growth of the automotive relay market. However, obstacles like the integration of smart systems and price sensitivity, coupled with cost pressures, may impede market expansion.
Furthermore, the global automotive relay industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Product Analysis
The Global Automotive Relay Market is segmented among PCB Relay, Plug-in Relay, High Voltage Relay, Optical Attenuators, and Others, based on Product. In 2023, PCB Relay accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Vehicle Type Analysis
The Global Automotive Relay Market is segmented among Passenger Vehicles, Commercial Vehicles, and Electric Vehicles, based on Type. In 2023, Passenger Vehicles accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Automotive Relay Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Latin America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are ABB, American Zettler, Inc. (Zettler Components, Inc.), BETA ELECTRIC INDUSTRY CO., LTD, COTO TECHNOLOGY, Sensata Technologies Holdings N.V., Deltrol Controls (Deltrol Corporation), DENSO CORPORATION, Eaton, Fujitsu Limited, GOOD SKY ELECTRIC CO., LTD., IDEC Corporation, Hella KGaA Hueck & Co. (HELLA), Littelfuse Inc., LS Automotive Technologies, and Megatone Electronics Corp.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Automotive Relay Market Dynamics
Drivers
Restraints
Opportunity
4. Global Automotive Relay Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Automotive Relay Market Segmentation, By Product
Global Automotive Relay Market Share Analysis, By Product
Global Automotive Relay Market Growth Analysis, By Product
Global Automotive Relay Market Trends, By Product
o PCB Relay
o Plug-in Relay
o High Voltage Relay
o Optical Attenuators
o Others
6. Global Automotive Relay Market Segmentation, By Type
Global Automotive Relay Market Share Analysis, By Type
Global Automotive Relay Market Growth Analysis, By Type
Global Automotive Relay Market Trends, By Type
o Passenger Vehicles
o Commercial Vehicles
o Electric Vehicles
7. Global Automotive Relay Market Segmentation, By Application
Global Automotive Relay Market Share Analysis, By Application
Global Automotive Relay Market Growth Analysis, By Application
Global Automotive Relay Market Trends, By Application
o Resistive Loads
Ø HVAC
o Capacitive Loads
Ø Engine Management Module
Ø Fog Lights
Ø ABS Module
Ø Front And Rear Beam
o Inductive Loads
Ø Power Window
Ø Central Lock
Ø Cooling Fan
Ø Clutches
8. Global Automotive Relay Market Segmentation, By Region
Global Automotive Relay Market Share Analysis, By Region
Global Automotive Relay Market Growth Analysis, By Region
Global Automotive Relay Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
9. Competitive Landscape
ABB*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
American Zettler, Inc. (Zettler Components, Inc.)
BETA ELECTRIC INDUSTRY CO., LTD
COTO TECHNOLOGY
Sensata Technologies Holdings N.V.
Deltrol Controls (Deltrol Corporation)
DENSO CORPORATION
Eaton
Fujitsu Limited
GOOD SKY ELECTRIC CO., LTD.
IDEC Corporation
Hella KGaA Hueck & Co. (HELLA)
Littelfuse Inc.
LS Automotive Technologies
Megatone Electronics Corp.
*Similar analysis will be provided for each company listed above.