The electric vehicle relays market will register a CAGR of over 33% by 2023
NEW YORK, May 14, 2019 /PRNewswire/ --
About this market
The increase in electronics and safety requirements in electric vehicles is one of the key factors expected to trigger the electric vehicle relays market growth during the forecast period. The rising demand for relays is being further supported by the increasing requirement for safety components including anti-locking systems (ABS), electronic brakeforce distribution (EBD), and airbags among others. As a result, the growing number of applications in electric vehicles will result the global electric vehicle relays market growth in the forthcoming years. Analysts have predicted that the electric vehicle relays market will register a CAGR of over 33% by 2023.
Read the full report: https://www.reportlinker.com/p05112218/?utm_source=PRN
Market Overview
Increasing adoption of battery electric vehicles and plug-in hybrid electric vehicles
Advances in charging systems have enhanced the adoption rate of battery electric vehicles and plug-in hybrid electric vehicles and will drive the global electric vehicle relays market during the forecast period.
Supply-demand imbalance amid demand uncertainties across the supply chain
Supply-demand imbalances caused amid demand uncertainties in electric vehicle and small electric and electromechanical part supplies, including resistors, inductors, sensors, and relays, are expected to challenge the global electric vehicle relays market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the electric vehicle relays market during 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented with the presence of several market players. Electric vehicle manufacturers have started adopting bidirectional chargers in their electric vehicle models. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Read the full report: https://www.reportlinker.com/p05112218/?utm_source=PRN
About Reportlinker
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