Automotive Relay Market size to rise at a whopping 4% CAGR to 2024

Developments in Internet of Things and semiconductors will further drive the automotive relay market demand over the study period.

Selbyville, United States – June 28, 2019 /MarketersMedia/ —

The Automotive Relay Market is set to grow from its current market value of more than $13 billion to over $18 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Increasing usage of electronic equipment in the vehicles will majorly drive the automotive relay market over the next eight years. Rising demand for enhanced driving experience coupled with favorable regulatory framework regarding the vehicle safety across the globe has induced immense potential to the industry size. 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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Automotive relay provides the drivers with enhanced experience and greater safety. High acceptance of sophisticated electronic equipment has resulted in increased number of relays per vehicle.

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.

High demand of automotive PCB relays in Asia Pacific and Europe has induced an immense potential to the industry size. Stringent government regulations in Europe regarding incorporation of safety features into vehicles, replacement of obsolete technologies, and fuel efficiency standards will further gain an advantage in the automotive relay industry over the forecast time frame.

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Automotive relay manufacturers include Denso Corporation, Eaton Corporation, ABB, Microsemi Corporation, Fujitsu, and Omron Electronics. Major strategies adopted by the players are collaborations and partnerships with the automakers to uphold and increase the product sales. The supply chain includes raw material suppliers, manufacturers, and product suppliers, e-commerce, and end-users.

Relay manufacturers focus on improving the product specifications to satisfy the ever-increasing need for enhanced car electronics and versatility in numerous relays for space saving and high voltage cut-off.

Browse key industry insights spread across 365 pages with 360 market data tables & 9 figures & charts from the report, “Automotive Relay Market Size By Product (PCB Relay, Plug-in Relay), By Application (Powertrain Systems, Body & Chassis, Convenience, Safety & Security, Driver Information) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, China, India, Japan, South Korea, Vietnam, Australia, Thailand, Brazil, Argentina, Egypt, Iran, South Africa, Turkey), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-relay-market

Glimpse of Table of Content (ToC)

Chapter 3 Automotive Relay Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2012 – 2024
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Profit margin analysis
3.3.4 Distribution channel analysis
3.3.4.1 B2B
3.3.4.2 Aftermarket
3.3.5 End-users
3.3.6 Vendor matrix
3.4 Technology landscape
3.4.1 Insert Molding Technology
3.4.2 Bistable (Latching) Technology
3.5 Regulatory landscape
3.5.1 U.S.
3.5.1.1 Underwriter’s Laboratories, Inc.
3.5.1.2 National Electrical Code
3.5.1.1 SAE J1772
3.5.2 EU
3.5.2.1 VDE (Verband Deutschen Elektrotechniker envy.)
3.5.2.2 International Electrotechnical Commission (IEC)
3.5.2.3 RoHS and ELV
3.5.3 China
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Considerable automobile safety regulations
3.6.1.2 Growing electronic content in vehicles
3.6.2 Industry pitfalls & challenges
3.6.2.1 Standardization concerns
3.7 Innovation & sustainability
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Competitive landscape
3.10.1 Market share analysis, 2016
3.10.2 Strategy dashboard
3.11 PESTEL analysis

Browse Full TOC @ https://www.gminsights.com/toc/detail/automotive-relay-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Website: https://www.gminsights.com/pressrelease/automotive-relay-market

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