Industry Background:
The auto relay allows the small current flow circuit to control the higher current circuit in automobiles. Power relays, micro relays, mini relays, ISO 2.8mm mini relays, ISO 2.8mm micro relays, solid state relays, and relay connectors, are some of the various types of automotive relay available in the market. A surge in the preference for an electronic relay/e-fuse over electromagnetic relays is expected to boost the overall market. Further, an increase in the modernization of the vehicles is anticipated to fuel the market during the forecast period. However, unavailability of the standard relay design is expected to hamper the overall growth. Moreover, the demand for higher switching capacity relays for the electric/hybrid powertrain is expected to fuel the market in the upcoming yearsThis growth is primarily driven by Increasing modernization of vehicles to impact the relay market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Auto Parts & Equipment sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Fujitsu (Japan), Hella KGaA Hueck & Co. (Germany), TE Connectivity (Switzerland), Siemens AG (Germany), Panasonic Corporation (Japan), Infineon Technologies (Germany), Denso Corporation (Japan), American Zettler (United States), Eaton Corporation (Ireland) and ABB (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2019, Siemens acquired Edge technology from Pixeom, an American company. With these actions, Siemens is strengthening its Industrial Edge portfolio by adding software components for Edge runtime and device management. Siemens Industrial Edge provides an ecosystem for flexible provisioning and consumption of apps. This means, for example, that an appropriate app can analyze data locally on a machine and send the relevant data to a higher-level industrial edge management system for global analysis. With this acquisition, Siemens is driving the expansion of its digital enterprise portfolio and the integration of advanced technologies for the digital transformation of industries.
ZETTLER introduces a number of new relays at 2018 Munich electronica. The new AZEV116 and AZEV132 series are next-generation IEC mode 2 Electric Vehicle (EV) charging relays in development for release in 2019. These relays are designed to survive high momentary currents that may occur on short circuits, thus ensuring outstanding reliability without contact weldingThe market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies
Influencing Trend:
Preference for electronic relay/e-fuse over electromagnetic relays
Market Growth Drivers:
Increasing modernization of vehicles to impact the relay market
Challenges:
Involvement of local players (independent aftermarket) in the relay market and Connected smart junction boxes and smart fuse box for autonomous cars
Restraints:
Unavailability of standard relay design
Opportunities:
Demand for higher switching capacity relays for electric/hybrid powertrains and Impact of 48v architecture on this market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Auto Relay Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Auto Relay Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Auto Relay players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Auto Relay Study Sheds Light on
The Auto Relay Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Auto Relay industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Auto Relay industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.