According to the new market research report "Automotive Relay Market by Type (PCB, Plug-In, High Volt, Protective, Time), Load & Application (Door Lock, Power Window, Sunroof, Power Seat, EPS, Lighting, Fuel Injection, AC, Starter, Horn, Wiper), ICE & EV, and 48V Relay Market - Global Forecast to 2022", published by MarketsandMarkets™, The Automotive Relay Market is estimated to be USD 12.39 Billion in 2017 and is projected to grow at a CAGR of 6.20% during the forecast period. Factors such as increasing trend of vehicle electrification, stringent emission norms, and fuel efficiency standards are driving the automotive relay market across the globe. Also, increasing demand for premium and mid-priced passenger cars has increased the comfort and luxury applications in the car, which has, in turn, boosted the global market.

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PCB relay is estimated to be the fastest growing segment in this market. OEMs are using PCB relays in the major applications of a vehicle such as ABS, cruise control, doors, power steering, power windows, sunroof, and others. Increasing demand for electronic control modules coupled with electronic components has generated the demand for smaller devices that can be used for carrying greater current loads. Several Tier-1 suppliers and OEMs prefer using PCB relays owing to its miniaturized size, which saves significant space in the vehicle junction box.

The passenger car door lock application is estimated to hold the largest market size in the automotive relay market. With increasing demand for comfort, the electronic door lock feature is present in 95%–98% of the passenger cars globally. The power door lock helps the driver to lock or unlock all the vehicle doors with a single switch. The door lock relay helps in sending power to the actuators located in the door lock, which help to lock and unlock the door of the vehicle. In a passenger car, each door has a relay employed for switching purpose. Along with the passenger car segment, the demand for power door locks in increasing in the LCV segment, which will influence the door lock application market in the LCV segment.

The Hybrid Electric Vehicle (HEV) segment constitutes the largest market size in the electric vehicle relay market. The trend of vehicle electrification is growing as a result of rising cost of conventional fuels and growing environmental concerns, which have resulted in regulations with decreased limits in tail-pipe emissions and increased fuel efficiency limits. Hence, OEMs are focusing on the development of alternative powertrain vehicles and their premium electronic features. Hence, the demand for high voltage relays is increasing with the increasing sales of HEVs globally.

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Asia-Oceania is estimated to be the largest market for automotive relays during the forecast period. The automotive relay market in this region is driven by automotive hubs such as China and India. The growing demand for vehicles, rising disposable income, and low production costs are driving the Asia-Oceania market. North America is estimated to be the fastest growing market for electric vehicle relays. The growth in this region is driven by increasingly changing infrastructure and significant investment by OEMs in the development of electric vehicles.

The market is led by the key automotive relay manufacturers such as TE Connectivity (Switzerland), Panasonic Corporation (Japan), Denso Corporation (Japan), Omron Corporation (Japan), and American Zettler (U.S.). The automotive relay components are supplied to major OEMs in the automotive industry such as Volkswagen (Germany), Nissan (Japan), Toyota Motor Corporation (Japan), Honda Motor Co. Ltd (Japan), and others.

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