Automotive relays are common types of electromechanical relay which are utilized relays in all kinds of trucks, car, vans, and trailers. Automotive relays are used to permit a low ampere circuit to switch on or off a higher ampere circuit such as turning on the headlights in vehicle. The high demand for electronic power steering (EPS), car interior lighting, seat control, sunroof control, communications, infotainment systems, and automatic lock systems will also boost the demand of automotive relay in the market
The "Global Automotive Relay Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a focus on the global market trend. The report aims to provide an overview of global automotive relay market with detailed market segmentation by system, services and geography. The global automotive relay market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
- Based on type, the market is segmented as PCB relay, protective relay, high voltage relay and plug-in relay.
- On basis of application the automotive relay market is segmented as locking system, engine management module, lamps/lights, and others.
- Encouragement of government initiatives related to vehicle safety will lead to increase the demand of automotive relay in forecast period.
- The growing production of EVs.
- The deficiency of standardization in the automotive industry, mostly in developing countries is expected to hamper the automotive relay market..
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive relays market based on various segments. It also provides market size and forecast estimates from year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive relays market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting automotive relays market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the automotive relays market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE RELAYS MARKET
The outbreak of COVID-19 has significantly impacted various industries including the automotive industry. Containment measures were imposed by governments across the globe such as trade restriction and factor shutdown followed by limited personnel at workplaces in order to adhere to the norms of social distancing. Thus, the imposition of such measures has disrupted the supply chain of manufacturers in 2020. However, the construction industry started to stabilize from Q4 of 2020 as economies started to reopen and containment measures were relaxed.
The reports cover key developments in the automotive relays market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from automotive relays market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive relays in the global market. Below mentioned is the list of few companies engaged in the automotive relays market.
The report also includes the profiles of key automotive relays companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Beta Electric
- ABB Ltd
- Honda Motor Co. Ltd
- American Zettler Inc.
- Panasonic Corporation
- Denso Corporation
- Omron Corporation
- NEC Corporation
- Salzer Electronics Ltd.
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