Automotive Relay Market in North America to surge at 5% CAGR to 2024
PCBs are projected to acquire over 75% of the total automotive relay market till 2024. The high revenue generation is attributed to the rising demand for compact devices across the automobile industry. Moreover, benefits such as their high current carrying capacity and significant space saving due to the miniaturized will escalate the industry over the forecast timespan. Manufacturers of PCB relays focus on penetration into potential business and continuous innovations in their products to diversify their product line.
Driver information demand from automotive relay crossed 200 million units in 2016. Increasing need of driver information systems (DIS) in vehicles for weather & traffic information, location services, etc., has favored the segment growth over the past few years and is anticipated to continue the same over the forecast time frame. Rising smartphone penetration will further foster the installation rate of these systems.
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Convenience system, such as keyless entry system, electronic power steering, and sunroof control, require relays on a large-scale for providing efficient control. They are increasingly used in the safety and security systems, such as car security alarm and anti-lock braking systems (ABS), owing to the rising road safety concerns.
Asia Pacific is anticipated to dominate the industry revenue share over the forecast timeframe. This growth is attributed to increased vehicle manufacturing across the region, especially in emerging economies including India, China, and Indonesia. China is a substantial contributor in the regional industry revenue generation. Increasing automobile production coupled with rising domestic demand will propel the country’s share over the projected time span.
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North America industry was valued at over USD 2 billion in 2016 and is expected to exhibit 5% CAGR in the projected time line owing to the matured automobile industry in the region. Moreover, the presence of well-established players will strengthen the regional business position over the next eight years. Rising product aftermarket demand from countries like Mexico will further induce immense potential to the automotive relay market growth rate till 2024.
ABB, TE Connectivity, Cynergy3 Components Corporation, Denso Corporation, Fujitsu, Eaton Corporation, Omron Corporation, Littelfuse, and NEC Corporation are among the prominent players in the automotive relay market share. Other notable players include Idec Corporation, Panasonic Corporation, Relpol, Sharp Corporation, Salzer Electronics, Microsemi Corporation, and Rectifier Corporation.
Industry players witness intense competition owing to design expertise, innovation, and strong distribution channels. Players focus on product enhancement that will lead to efficient automobile functioning and improves driver experience. Many automakers have substantially improved fuel efficiency and reduced carbon footprint as a corporate priority. Numerous manufacturers are accredited with standards such as ISO/TS16949, that covers total quality management system and addresses cost performance, along with ongoing improvements.
Browse key industry insights spread across 365 pages with 360 market data tables & 9 figures & charts from the report, “Automotive Relay Market Size By Product (PCB Relay, Plug-in Relay), By Application (Powertrain Systems, Body & Chassis, Convenience, Safety & Security, Driver Information) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, China, India, Japan, South Korea, Vietnam, Australia, Thailand, Brazil, Argentina, Egypt, Iran, South Africa, Turkey), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-relay-market
Table of Contents (ToC) of the report:
Chapter 3 Automotive Relay Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2012 – 2024
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Manufacturers
3.3.3 Profit margin analysis
3.3.4 Distribution channel analysis
3.3.4.1 B2B
3.3.4.2 Aftermarket
3.3.5 End-users
3.3.6 Vendor matrix
3.4 Technology landscape
3.4.1 Insert Molding Technology
3.4.2 Bistable (Latching) Technology
3.5 Regulatory landscape
3.5.1 U.S.
3.5.1.1 Underwriter’s Laboratories, Inc.
3.5.1.2 National Electrical Code
3.5.1.1 SAE J1772
3.5.2 EU
3.5.2.1 VDE (Verband Deutschen Elektrotechniker envy.)
3.5.2.2 International Electrotechnical Commission (IEC)
3.5.2.3 RoHS and ELV
3.5.3 China
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Considerable automobile safety regulations
3.6.1.2 Growing electronic content in vehicles
3.6.2 Industry pitfalls & challenges
3.6.2.1 Standardization concerns
3.7 Innovation & sustainability
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 Competitive landscape
3.10.1 Market share analysis, 2016
3.10.2 Strategy dashboard
3.11 PESTEL analysis
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