Global Automotive Relays Market, 2018-2026 - Market was Valued US$ 13.43 Bn in 2017 and Estimated to Grow With a CAGR of 5.8% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 24, 2018--The “Global Automotive Relays Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026” report has been added to ResearchAndMarkets.com’s offering.
The automotive relays market was valued US$ 13.43 Bn in 2017 and estimated to grow with a CAGR of 5.8% during the forecast period from 2018 to 2026.
Advancement in electric cars along with automotive industry achieved significant growth after attaining stability from 2008 and 2011 economic crisis. In 2017, approximately 79 Mn passenger cars were sold and the number is projected to cross 81 Mn mark in 2018 out which 2 Mn cars are expected to be electric.
With the automotive sector crossing new milestones, industries associated with the sector such as OEM and the aftermarket parts market are also witnessing momentous growth and evidencing further growth in coming years. Automotive relay market is one such market greatly benefited by the surge in demand for automobiles across the globe. The component was not a part of standard automobiles earlier, however, modern-day automobiles are sophisticated & complex machines and automotive relays have become an indispensable part of an automobile.
Several automobile relays are used in a single vehicle catering different electric circuits for powertrain, body & chassis, lighting & security and infotainment systems among others. Consequently, the flourishing automotive industry acts as a catalyst for bolstering the growth of the automotive relays market.
Trends such as intelligent cars, electric cars, and driver assistance require a completely new breed of automotive relays. Perpetual development in manufacturing processes and advanced sensor technology expedited the performance of automotive relays making them suitable for ultra-modern automobiles.
Asia Pacific is home to several automotive giants including Toyota, Honda, Hyundai, Suzuki, and Mitsubishi among others. The flourishing Asia Pacific automotive industry propose unmatched growth opportunities to automotive OEMs and other adjacent industries. Companies from all over the world are keen to participate and grab the business opportunities offered by this region. Thus, Asia Pacific emerged as a leader in global automotive relays market and projected to dominate the market throughout the forecast period from 2018 to 2026.
Automotive relay market is one of the most fragmented markets in overall OEM industry. Several international, as well as local automotive relay manufacturers, compete with each other to claim their market share in this highly competitive market. These companies often adopt strategies such as technological innovations and long-term partnership with major automotive manufacturers to provide automotive relays in order to maintain their market positions.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Automotive Relays Market Analysis, by Product Type
Chapter 5 Global Automotive Relays Market Analysis, by Applications
Chapter 6 Global Automotive Relays Market Analysis, by Vehicle Type
Chapter 7 North America Automotive Relays Market Analysis
Chapter 8 Europe Automotive Relays Market Analysis
Chapter 9 Asia Pacific Automotive Relays Market Analysis
Chapter 10 Rest of the World Automotive Relays Market Analysis
Chapter 11 Company ProfilesABB Group American Zettler, Inc. Denso Corporation Delphi Automotive LLP Eaton Corporation plc Fujitsu Limited Good Sky Electric Co., Ltd. Hella KGaA Hueck & Co. (HELLA) IDEC Corporation NEC Corporation Omron Corporation Panasonic Corporation Robert Bosch GmbH Siemens AG TE Connectivity Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/g62bqk/global_automotive?w=4.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180924005656/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Electrical Engineering
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/24/2018 10:56 AM/DISC: 09/24/2018 10:56 AM