The Automotive Relay Market is projected to grow to USD 21.8 billion by 2027 from USD 14.2 billion in 2019, at a CAGR of 5.5%. The automotive relay market is driven by growing end-user industries such as construction & infrastructure, mining, wind & energy, and heavy engineering.
48V mild hybrid architecture is expected to have significant impact on the relay market
Efforts toward overall weight reduction and improving fuel effeiceny of vehicles have led to the introduction of 48V architecture. 48V architecture increases electrification, which, in turn, will increase the number of relays used in a vehicle. The progress of the 48V system is responsible for changes throughout the electrical system, which is ultimately responsible for a change in applications and design of relays. According to industry experts, 48V architecture requires relays ranging between ~100–200A. Europe is estimated to be the largest market for the high voltage relays, accounting for ~47% of the market share.
Frequently Asked Questions (FAQ):
Q. What is the market size of the automotive relay market?
A. The automotive relay market is projected to grow to USD 21.8 billion by 2027 from USD 14.2 billion in 2019, at a CAGR of 5.5%.
Q. Who are the top players in the automotive relay market? What are their organic & inorganic strategies?
A. Some of the key players in the automotive relay market are TE Connectivity (Switzerland), Omron Corporation (Japan), Panasonic (Japan), HELLA KGAA HUECK & CO. (Germany), and Fujitsu (Japan). These companies have adopted strategies such as new product developments and collaborations to sustain their market position.
Q. How will 48V architecture impact the automotive relay market?
A. With the introduction of 48V mild-hybrid architecture, the demand for relays specific to 48V applications is set to rise..
Q. What is the impact of vehicle electrification on automotive relay suppliers?
A. With increased vehicle electrification towards high voltage architecture (as in BEVs), the demand for high voltage relays is projected to grow in the future.
Q. What are the futuristic automotive applications of relays?
A. Powered seats, adaptive lighting, and other safety & comfort features are some of the new relay applications.
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