Rising Adoption of Automotive Relay Market To Fuel Revenue Growth Through 2022 – 2031 : Fact.MR

Latest industry analysis by Fact MR, predicts sales of Automotive Relay to swell at propelled CAGR through 2031, as automotive sales gradually recover across the world. The report is intended at presenting insights into hidden growth opportunities and challenges. It also offers recommendations to help businesses to prep for unforeseen challenges.

The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.

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Additional Questions Answered

• Have automotive relays partially overpowered conventional manual switches or still there is a long way to go?
• What efforts are the manufacturers in the automotive relay market making to leverage on increasing demand for EVs and hybrid Electric vehicles?
• Which segment will lead in the automotive relay market in terms of share, PCB relay, and plug-in relay?
• How will increasing vogue for premium and mid-priced passenger cars impact the automotive relay market?

Automotive relays are small components and do not cost a lot on the manufacturing side. Automakers can switch to different types of automotive relays without flexing their spending. In 2017, the global automotive relays market is expected to reach a value of US$ 12 Bn. Increasing dependency of other on-board electronic features in vehicles on automotive relays is also driving their demand. By the end of 2022, the global automotive relays market will reflect a steady growth at steady CAGR and bring in US$ 15.6 Bn in revenues.

Following highlights from Fact.MR’s forecast on the global automotive relays market will project the market’s future prospects.

• In 2017, over US$ 9 Bn worth of automotive relays sold in the world were PCB relays. Demand for PCB relays over their plug-in counterparts is expected to remain higher.
• Passenger car manufacturers from around the world are actively adopting automotive relays, as opposed to the makers of commercial vehicles. By 2022, passenger vehicles will contribute more than US$ 10 Bn in revenues to the global automotive relays market.
• Application of automotive relays in powertrain systems is gaining traction. The report expects that global revenues amassed from sales of automotive relays in powertrain application will register a healthy CAGR over the forecast period.
• Region-wise, the largest market for automotive relays is the Asia-Pacific excluding Japan (APEJ) region. APEJ countries such as China and India are leading contributors to global automobile production. Through 2022, the APEJ automotive relays market will soar vigorously at a soaring CAGR.
• North America’s automotive relays market is also expected to witness substantial growth during the forecast period. Rising sales of EVs equipped with advanced automotive relays is expected to drive the region’s global market presence. In 2017, more than US$ 2.4 Bn worth of revenues were netted through sales of automotive relays across the US and Canada.
• Europe will also be observed as a lucrative region for automotive relay manufacturers. Greater inclination of European customers towards electronically-equipped vehicles is slated to drive the adoption of automotive relays. Going forward, revenues accounted by Europe in the global automotive relays market will incur a speedy yet steady growth at stable CAGR.
• The report indicates that largest sales channel for automotive relays will be aftermarkets. Through aftermarket sales, the global automotive relays market is expected to witness an influx of nearly US$ 8 Bn revenues by the end of 2017.
• Infineon Technologies AG, Denso Corporation, Panasonic Corporation, Fujitsu Limited, Delphi Automotive Plc., HELLA KGaA Hueck & Co., TE Connectivity Ltd., and Eaton Corporation are leading manufacturers of automotive relays profiled in the report.

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Competitive Dynamics

The current ecosystem of automotive relay market is witnessing an exceptional competition among the key industry participants for attaining domination in automotive relay market.

This has led to surging consolidation through initiatives such as alliances and acquisitions in the automotive relay market. Some of the major players operating in automotive relay market and included in this report are

• Delphi Automotive
• HELLA KGaA Hueck & Co..
• Eaton Corporation PLC.
• TE Connectivity Ltd.
• Panasonic Corporation
• Denso Corporation
• Fujitsu Limited
• Infineon Technologies AG.

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Report Benefits & Key Questions Answered

• Automotive Relay Company & brand share analysis: The report offers in-depth Automotive Relay brand share analysis to estimate percentage of the market covered by Tier 1, Tier 2, and Tier 3 companies
• Automotive Relay Historical volume analysis: The report offers a comparative analysis between historic sales of Automotive Relay and projected sales performance for 2021-2031
• Automotive Relay Category & segment level analysis: Fact MR presents a comprehensive analysis of factors enabling sales growth across key segments. It underscores chief growth drivers and offers valuable information to identify sales prospects a local and regional levels
• Automotive Relay Consumption by demographics: To offer informed recommendation, the report studies behavior and consumption pattern of consumers. The demographics analysis is intended at helping business better understand consumer preference and design their product and market strategies around it
• Post COVID consumer spending on Automotive Relay: The Fact MR market survey carefully studies consumer spending behavior post COVID-19. It gauges how prevailing trends have influenced their behavior, subsequently impacting their spending power

More Valuable Insights on Automotive Relay Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Automotive Relay, Sales and Demand of Automotive Relay, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

For More Insight https://www.entrepreneur.com/article/431147

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