Press release
Automotive Relay Market is Expected to Surpass US$ 15.6 Bn by 2022
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.
Request For Sample Report @ www.factmr.com/connectus/sample?flag=S&rep_id=18
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.
Check Discount @ www.factmr.com/connectus/sample?flag=D&rep_id=18
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.
Click to View Complete Report @ www.factmr.com/report/18/automotive-relay-market
About Us
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
Contact Us
Fact.MR
Office: Dublin 2
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Tel: +353-1-6111-593
( Dublin 2 )
Email: sales@factmr.com
Web: https://www.factmr.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Relay Market is Expected to Surpass US$ 15.6 Bn by 2022 here
News-ID: 691644 • Views: …
More Releases from Factmr
Baby Wipes Market to Hit USD 7.55 Billion by 2033 | Procter & Gamble, Kimberly-C …
The global baby wipes market size stands at US$ 5.1 billion in 2023 and is expected to reach US$ 7.55 billion by the end of 2033. Global demand for baby wipes has been predicted by Fact.MR to increase at a CAGR of 4% during the next 10 years.This steady growth is driven by increasing parental awareness of infant hygiene, rising disposable incomes, and a surge in demand for eco-friendly and…
Household Air Care Products Market to Hit USD 16.3 Billion by 2033 | Godrej AER, …
In 2023, global demand for household air care products is estimated at US$ 12.13 billion and is forecasted to reach US$ 16.3 billion by the end of 2033. The global household air care products market is projected to exhibit expansion at 3% CAGR over the forecast period (2023 to 2033).This steady growth is driven by rising air pollution concerns, increasing awareness of indoor hygiene, and a surge in demand for…
Baby Training Diaper Market Valued at US$ 54.57 billion by the end of 2033| Domt …
Global demand for baby training diapers currently stands at US$ 25.04 billion and is forecasted to reach a market size of US$ 54.57 billion by the end of 2033. The global baby training diaper market is pegged for expansion at a high-value 8.1% CAGR from 2023 to 2033.This strong growth is fueled by rising awareness of toddler health, increasing global population, and evolving consumer preferences for convenient childcare products. The…
Baby Cloth Diaper Market to Hit USD 9.83 Billion by 2033 | Procter & Gamble, Kim …
The global baby cloth diaper market is estimated at US$ 5.98 billion in 2023. Worldwide demand for baby cloth diapers is forecasted to rise at 5.1% CAGR and reach a market value of US$ 9.83 billion by the end of 2033.This growth is fueled by rising environmental awareness, increasing preference for reusable and cost-effective diapering solutions, and government initiatives promoting sustainable baby care products. The shift from disposable diapers to…
More Releases for Automotive
Automotive Grommet Market set for explosive growth: Cooper Standard Automotive, …
According to HTF MI, "Global Automotive Grommet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030". The Global Automotive Grommet Market is anticipated to grow at a compound annual growth rate (CAGR) of 5.96% from 2024 to 2030, reaching USD 100 Billion in 2024 and USD 150 Billion by 2030.
Automotive grommets are protective rings or eyelets made from rubber or plastic, used to protect or cover holes in metal…
KSA Automotive Market | KSA Automotive Industry | KSA Automotive Industry Resear …
Saudi Arabia’s automotive market faced a decline in new car sales due to tripling of value-added tax (VAT) rates. Effective in July 1, 2020, Saudi Arabia hiked its VAT from 5% to 15%.
Vision 2030 trying to attract foreign investment to kick start Dammam manufacturing city to aid re-exports & fulfill domestic demand
Surge in Domestic Manufacturing to gain independence of Imports: With Vision 2030, KSA is trying to gain impendence of…
Automotive Fuel Injectors Market: Growing Automotive Sales Fueling Automotive Fu …
Automotive fuel injectors market is likely to grow at a steady pace in the long run, according to a new report by Fact.MR. The demand for automotive fuel injectors continues to remain influenced with a multitude of industry-specific and macroeconomic factors. Significant growth in the automotive sector, coupled with increasing vehicle fleet remain instrumental in driving the demand for automotive fuel injectors worldwide. Fact.MR estimates that the sales of automotive fuel injectors are expected…
Global Automotive Safety Market 2019 Worldwide Outlook By Autoliv, Delphi Automo …
Automotive safety systems are designed to comply with the standards and regulations prescribed by government agencies and transport authorities worldwide. Passive safety systems are designed to protect passengers, drivers, and pedestrians during an accident.
In terms of region, the global Automotive Passive Safety Systems market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global…
Global Oil Pump for Automotive Market 2018 Analysis -Bosch,Denso,Aisin Seiki,Del …
According to this study, over the next five years the Oil Pump for Automotive market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2023, from US$ xx million in 2017. In particular, this report presents the global market share (sales and revenue) of key companies in Oil Pump for Automotive business.
Get Sample Copy of this Report for more Information…
Global Automotive Body Welded Assembly Market 2018 - Daesan, Baylis Automotive, …
Accord Market, recently published a detailed market research study focused on the “Automotive Body Welded Assembly Market” across the global, regional and country level. The report provides 360° analysis of “Automotive Body Welded Assembly Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of…
