The
global automotive relay market is anticipated to reach
USD 19.5 billion by 2025, according to a new report by Grand View Research,
Inc. Increasing vehicular safety regulations in various regions across the
globe is driving the automotive relay market. Further, increasing adoption of
electric vehicles amongst passenger car segment end users has made automotive
electronics including the automotive relay industry to gain significant market
share.
Systems such
as advanced driver assistance systems (ADAS), electronic stability control,
electronic steering systems, brake-by-wire systems, and airbags are gaining
momentum across the globe, owing to their safety and comfort benefits. Strict
safety guidelines employ substantial pressure on Tier-1 suppliers and the OEMs
to design improved safety systems for automobiles. According to General Safety
Regulation (EC) No 661/2009 of Europe, from 1 November 2014, several new safety
features have been made obligatory for light trucks, heavy commercial vehicles
and new passenger cars. Furthermore, there is a growing demand for enhanced
comfort and convenience in automobiles.
China automotive relay market, by product, 2014 - 2025 (USD Million) |
Many
governments provide lucrative offers to promote the selling and usage of
Electric Vehicles EVs. Tax benefits are provided at the time of purchase.
However, the extent of exemption depends on the size of batteries used in the
vehicle. In the United States, insurance companies provide discounts on
insurance policies to customers and utility companies are offering low
electricity rates. Also, few states offer credits to electric vehicle
manufacturers and buyers for their costs and purchase of charging equipment.
Many European countries follow incentive-based programs for promoting EVs.
Countries, like Germany and Austria, offer tax exemptions and reductions.
Full
Research Report On Global Automotive Relay Market Analysis:
http://www.grandviewresearch.com/industry-analysis/automotive-relay-market
http://www.grandviewresearch.com/industry-analysis/automotive-relay-market
Further
key findings from the report suggest:
- The increasing vehicular
safety norms across the globe and growing adoption of electric passenger
car vehicles amongst end users are expected to drive the market.
- Electric automotive parts
have diversified over the past decade, leading to an increase in the
number of relays used as switching devices as well as variation in the
required features of each relay
- Asia Pacific is a key
revenue generating region and captured a significant market share in 2016.
The region exhibits a high growth potential, which may be attributed to
high vehicle demand in this region.
- The key players in the
market include ABB Group, Denso Corporation, Eaton Corporation plc,
Fujitsu Limited, Hella KGaA Hueck & Co. (HELLA).
View more
reports of this category by Grand View Research at:
http://www.grandviewresearch.com/industry/automotive-and-transportation
http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented the automotive relay market based on
product, application, vehicle type and regions:
Product
Outlook (Revenue, USD Million; 2014 - 2025)
- PCB
Relay
- Plug-in
Relay
- High
Voltage Relay
- Others
Vehicle
Type Outlook (Revenue, USD Million; 2014 - 2025)
- Passenger
vehicles
- Commercial
vehicles
- Electric
vehicles
Application
Outlook (Revenue, USD Million; 2014 - 2025)
- Resistive
loads
- Capacitive
loads
- Inductive
loads
Regional
Outlook (Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Japan
- South
America
- Brazil
- Middle
East and Africa (MEA)
View press
release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-automotive-relay-market
http://www.grandviewresearch.com/press-release/global-automotive-relay-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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