The Europe Automotive Relay Market provide deep growth analysis of the Europe Automotive Relay industry for identifying the growth opportunities, development trends and factors limiting the growth of the market. This report offers market information based on past and present industry situations and growth aspects. Initially, the report presents the market overview covering product description, market analysis, market dynamics, opportunities and market share.
Secondly, global Europe Automotive Relay Market report conducts a qualitative analysis to present the key manufacturer’s profile, market share, market size, sales volume, gross margin analysis. All the key regions covered in report are North America, Europe, Asia-Pacific, South America, Middle East and Africa. The Europe Automotive Relay market share and market outlook of each region from 2019-2024 are presented in this report.
Europe automotive relay market is expected to grow at a CAGR of 7.4% during the forecast period, 2018-2023, owing to increasing penetration of electronic systems in vehicles.
With growing technology in semiconductors, heavy electromagnetic relays have been gradually replaced by the solid state relays, as solid state relays showed high potential in handling or switching power from low to high or vice-verse modes efficiently in the automotive electric circuits. Though solid state relays are expensive than electromagnetic relays, the former relays are anticipated to gradually gain more demand from automakers. Also, increasing incorporation of vehicle features like heated seats/power seats, power windows, windshield wiper/washer systems, sunroof etc., have resulted in more demand for automotive relays.
Increase in Electric Vehicle SalesThe incentives offered by the EU government for purchasing electric vehicles (EV) has significantly boosted the EV sales in the region during 2015-2017. The growing electric vehicle sales have been significantly driving the need for electric contact components like relays and switches, especially in battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV). In addition, with the enactment of stringent emission norms in the EU region automakers are gradually shifting their production from internal combustion engine vehicles to electric vehicles. As a result, the region is anticipated to experience more demand for and usage in relays, owing to the growing EV demand and sales during the forecast period.
Growing Competition among ManufacturersThe major automotive relay manufacturers in the region include Panasonic Corporation, Omron, Fujitsu, TE connectivity etc., are consistently working to improve relay design and functionality. Currently, solid state relay has become the major focus for most of the manufacturers due to its higher operating benefits compared to the present technology (miniature of the electromagnetic relay). Thus, the manufacturers are looking forward to producing more solid state relays by adopting cost-effective production methods to reduce the high cost of solid state relay in the coming years. The local manufacturers such as Eberspacher also started manufacturing solid state relay for automotive applications to capture the growing demand for electric vehicles. Thus, the region is expected to experience high competition among international and local manufacturers, with their improved and reduced price of solid state relay product offerings.
Key Developments in the Europe Automotive Relay Market:March 2018: Eberspacher, a Germany based company and an international supplier of automotive parts and components, has launched new solid-state plug-in power mini relay (12V/100 A). The construction of relay is robust and meets high electrical and mechanical demands of automotive applications. Some of the diverse applications of the relay in automotive include onboard systems, electrically heated catalytic converters, vacuum pumps and fan motors.
Reasons to Purchase Europe Automotive Relay Market Report:OEMs adoption rate of relays in the vehicles during the forecast periodAnalyzing various perspectives of the market with the help of Porters five forces analysis.Study on the growing electric vehicle trend in the region and its impact on the market.Identify the latest developments, market shares and strategies employed by the major market players.3 months analyst support, along with the Market Estimate Sheet (in excel).
Europe Automotive Relay Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Europe Automotive Relay Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
Europe Automotive Relay Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Europe Automotive Relay Market 2019 report presents the descriptive analysis of the Europe Automotive Relay Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Europe Automotive Relay Market competitors.