SELBYVILLE, Del., Oct. 23, 2018 /PRNewswire-PRWeb/
-- Powertrain systems are anticipated to account for 23%+
automotive relay market revenue share over the forecast timeline
owing to high usage of plug-in relays in these systems. Plug-in
relays are preferred in powertrain systems due to its features such
as ability to sustain in elevated temperatures, fluctuations, and
vibrations. The powertrain systems are susceptible to frequent
voltage fluctuations along with high surge loads, thus require high
switching capacity, and escalating the industry demand over the
next eight years.
Convenience systems holds the highest industry revenue share and
will continue its dominance over the forecast timeframe. The modern
HVAC systems in vehicles are equipped with numerous switches for
the ease of driver. In 2016, convenience systems accounted for over
34% of the automotive relay market share in terms of unit
shipments.
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Convenience system, such as keyless entry system, electronic
power steering, and sunroof control, require relays on a
large-scale for providing efficient control. They are increasingly
used in the safety and security systems, such as car security alarm
and anti-lock braking systems (ABS), owing to the rising road
safety concerns.
PCBs are projected to acquire over 75% of the worldwide 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
automotive relay market 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.
Driver information demand from automotive relay crossed 200
million units in 2016. Increasing need of driver information
systems (DIS) in vehicles for weather & traffic information,
location services, etc., has favored the segment growth over the
past few years and is anticipated to continue the same over the
forecast time frame. Rising smartphone penetration will further
foster the installation rate of these systems.
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North America automotive relay
market was valued at over USD 2
billion in 2016 and is expected to exhibit 5% CAGR in the
projected time line owing to the matured automobile industry in the
region. Moreover, the presence of well-established players will
strengthen the regional business position over the next eight
years. Rising product aftermarket demand from countries like
Mexico will further induce immense
potential to the automotive relay market growth rate till 2024.
Automotive relay market 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. Automotive relay manufacturers procure raw materials
from different suppliers to minimize the risk of delay in
manufacturing of the vehicles. Many automakers are dependent on a
single supplier for procuring the standardized relays, primarily
having long-term agreements signed with the suppliers. Th industry
paticipants are mostly forward integrated involving manufacturing
and distribution of the product.
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 (North
America, Europe,
Asia Pacific, Latin America, Middle East & Africa), 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
Table of Contents (ToC) of the report:
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 Convenience
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)
Browse Full Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/automotive-relay-market
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