Automotive Relay Market Projected to reach $15.5 billion by 2027
The automotive relay market is projected to grow from USD 12.2 billion in 2022 to USD 15.5 billion by 2027, at a CAGR of 5.0% for the same period. The rapid growth of the electric vehicles and the need for advanced electronic systems for various features is expected to drive the global automotive relay market.
The automotive relays, based on the type of relays are broadly segmented into PCB relay,...
Automotive Relay Market Projected to Reach $15.5 Billion by 2027
The automotive relay market is projected to grow from USD 12.2 billion in 2022 to USD 15.5 billion by 2027, at a CAGR of 5.0% for the same period.
The market is expected to witness growth mainly due to growing electrification in the automobiles. This includes the BEV, PHEV, 48V mild hybrid systems, and FCEVs. All these electric systems demand the incorporation of a greater number of electronic...
Automotive Relay Market Projected to reach $21.8 billion by 2027
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 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...
Who are the top players in the Automotive Relay Market? What are their organic & inorganic strategies?
The report “Automotive Relay Market by Type (PCB, Plug-In, High Voltage, Protective, Signal, Time), Ampere (5A-15A, 16A-35A, >35A), Application, Vehicle Type, EV Relay Type (Main, Precharge, Quick Charge, Normal, HV), 48V Relay, and Region – Global Forecast to 2027″ The automotive relay market is projected to grow to USD 21.8 billion by 2027 from USD 14.2 billion in 2019,...
Increasing Electrical & Electronic Applications to Drive the Global Automotive Relay Market
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...