Automotive Relay Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The automotive relay market is expected to register a CAGR of 6.1% during 2023–2031. The evolution of advanced technologies and the introduction of high-end vehicles is likely to remain a key trend in the market.

Automotive Relay Market Analysis

• The market is anticipated to grow as a result of the increasing application of automation in the automotive industry.
•  The growing demand for electric and hybrid vehicles is also one of the prime factors boosting the demand for relays.
• Additionally, new market opportunities are anticipated as a result of the development of advanced relays that can manage high currents and voltages.
• The growing demand for advanced safety features in cars, along with the growing acceptance of automation in the automotive industry, is anticipated to have a significant positive influence in the coming years.

Automotive Relay Market Overview

• The rising consumer focus on advanced safety features, along with the mounting sales of electric and hybrid vehicles, are acting as major driving factors for the market.
• The increasing application of automation in the automotive sector is also contributing to the significant growth of the global automotive relay market over the forecast period.
• The market for automotive relays exists to provide electrical solutions for application in automobiles. Plug-in relays, PCB relays, and high-voltage relays are just a few of the types of relays available on the market to meet the diverse needs of the automotive industry.
• The market is anticipated to grow significantly due to vehicles' electric systems requiring a large number of relays for control.

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Automotive Relay Market: Strategic Insights

Automotive Relay Market

• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Market Dynamics

GROWTH DRIVERS

• Growing Electrification in Automotive Sector

FUTURE TRENDS

• Growing Development in the Automotive Industry

OPPORTUNITIES

• Technological Advancement in Automotive Sector

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• PCB Relay
• Protective Relay
• High Voltage Relay
• Plug-in Relay

Application

• Locking System
• Engine Management Module
• Lamps/Lights

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Automotive Relay Market Drivers and Opportunities

Growing Electrification in the Automotive Sector to Favor the Market

• The prevailing trend of vehicle electrification is a major factor driving the global automotive relay market.
• In both conventional and electric vehicles (EVs), this transformation entails a greater integration of electronic parts and electric systems.
•  Automotive relays are becoming more and more essential as vehicles' electrical systems become more sophisticated. Relays are required in the conversion of internal combustion engines (ICE) to electric powertrains in plug-in vehicles (EVs) in order to regulate a variety of systems, including charging circuits, battery management systems, and motor drives. Relays guarantee these parts operate safely and effectively.
• Relays are used by advanced driver assistance and safety (ADAS) technologies such as automated braking systems, adaptive cruise control, and lane-keeping assistance to switch and control sensors and actuators.
• Relays are used in hybrid vehicles, which combine conventional internal combustion engines with electric powertrains to manage energy flows, increase efficiency, and coordinate the operation of both systems.

Technological Advancement in the Automotive Sector

• Higher switching capacity relays are required for autonomous, hybrid, and electric vehicles.
• Relays are used for DC charging interfaces, as well as main and pre-charging, in electric vehicles. With its patent-protected EV relay line, Panasonic offers relays that can withstand harsh short-circuit conditions and adjust to higher system voltages.
• Relays are becoming more essential as a result of the tremendous growth in sales of hybrid and electric vehicles. Higher battery and motor capacities are also being developed for electric vehicles in order to improve their efficiency and performance in the quickly expanding market for these vehicles.

Automotive Relay Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automotive relay market analysis are vehicle type.

• Based on type, the automotive relay market is divided into PCB relays, protective relays, high voltage relays, and plug-in relays.
• Based on application, the automotive relay market is divided into locking systems, engine management modules, lamps/lights, and others.

Automotive Relay Market Share Analysis by Geography

• The automotive relay market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering automotive relay market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the automotive relay market in these regions.

Automotive Relay Market Market Report Scope

Automotive Relay Market News and Recent Developments

The automotive relay market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive relay market are listed below:

• Pickering Interfaces, the leading supplier of modular signal switching & simulation solutions for use in electronic test & verification, today announced its new 40/42-890 family of modular, flexible PXI/PXIe microwave switches, bringing highly configurable RF switching solutions up to 110GHz to the PXI platform. Debuting at AUTOTESTCON, this new range will support the latest and most demanding RF and communications test requirements as operating frequencies continue to evolve to ever higher levels. (Source: Pickering Interfaces, Company Website, August 2023)
• Toshiba Electronics Europe GmbH (“Toshiba”) has released a new photovoltaic output photocoupler with an enhanced open-circuit voltage. The new device is primarily intended for use within solid-state relay (SSR) applications in automotive. However, it can equally be used in industrial applications, such as renewable energy. (Source: Toshiba Electronics Europe GmbH, Company Website, December 2023)

Automotive Relay Market Report Coverage and Deliverables

The “Automotive Relay Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Automotive relay market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Automotive relay market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Automotive relay market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the automotive relay market
• Detailed company profiles