The Automotive Relay Market is projected to grow at a CAGR of 6.20% from 2017 to 2022 and is projected to reach USD 16.75 billion by 2022. The electronic and electrical applications in vehicles will continue to increase with increasing focus on safety, security, and emissions, thereby fueling the demand for the automotive relay market.
With the increase in electronic applications, there is an increased electrical loading, which needs more power for functioning. This has led to the introduction of 48V architecture. The introduction of 48V architecture will bring changes in the relay voltage and power rating. The 48V architecture would increase the voltage, which would require smaller cross-sectioned wires. This would eventually reduce the contribution of the weight of wiring harness to the overall vehicle weight. A few of the relay manufacturers are now offering a mature product line of 48V electromechanical relays to fulfill the need for basic on/off-load switching, integration of electronic modules, and enabling of power feed circuits. These relays include design considerations explicitly for 48V automotive systems. Owing to increased electrification trends in the U.S. and Europe, the market for 48V mild hybrid systems is projected to grow in these regions. Alternatively, owing to the increased focus on electric vehicles in Asian countries, the market for 48V mild hybrid systems is projected to grow at the highest CAGR in this region from 2017 to 2025. Thus, significant growth of 48V mild hybrid systems is projected to drive the 48V passenger car relay market.
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The report provides detailed profiles of the following companies:
- TE Connectivity Corporation (Switzerland)
- Omron Corporation (Japan)
- Panasonic Corporation (Japan)
- Fujitsu (Japan)
- Hella KgaA Hueck & Co. (Germany)
- Denso Corporation (Japan)
- Delphi Automotive LLP (U.K.)
- ABB (Switzerland)
- Eaton Corporation (Ireland)
- Robert Bosch GmbH (Germany)
- Siemens AG (Germany)
- Alstom (France)
- Mitsuba Corporation (Japan)
- NEC Corporation (Japan)
The plug-in hybrid electric vehicle (PHEV) is estimated to be the fastest growing segment of the electric vehicle relay market. As per MarketsandMarkets analysis, the PHEV sales are projected to grow from 0.3 million units in 2016 to 1.3 million units by 2022, which would have a major impact on the global relay market. The PHEV segment includes models such as Mitsubishi Outlander, Volvo XC90, Volkswagen Passat GTE, Mercedes-Benz C350e, BMW X5 40e, and others. The premium features in PHEVs would increase the demand for relays. Premium features include Anti-lock Braking System (ABS) with Electric Brake-force Distribution (EBD), Adaptive Cruise Control (ACC) system, defogger, sunroof, Electric Power Steering (EPS), electric tailgate, and others. Hence, increasing premium features in PHEVs are leading to an increased demand for high voltage relays.
The PCB relay is estimated to be the fastest growing segment of the automotive relay market. This is due to its miniaturized size, which saves considerable space in the automobile junction box. However, in the Asia-Oceania region, plug-in relays are still preferred owing to their comparatively lower price, easy availability, and properties such as resistance to extreme vibrations, temperatures, and voltage fluctuations. On the other hand, PCB relays are easy to attach and detach and hence save time during replacement. They are majorly used in engine systems, HVAC systems, and switching fuel pumps. Hence, the manufacturers should focus on employing PCB relays, which will help in the reduction of weight of the junction box and impact the fuel efficiency of a vehicle.
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Asia-Oceania is estimated to be the largest market for automotive relays during the forecast period. The automotive relay market in this region is driven by automotive hubs such as China and India. The growing demand for vehicles, rising disposable income, and low production costs are driving the Asia-Oceania market. North America is estimated to be the fastest growing market for electric vehicle relays. The growth in this region is driven by increasingly changing infrastructure and significant investment by OEMs in the development of electric vehicles.
