The electric vehicle relays market covers the following areas:
Vendor Insights
The electric vehicle relays market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- DENSO Corp.
- Fujitsu Ltd.
- HELLA GmbH and Co. KGaA
- Littelfuse Inc.
- OMRON Corp.
- Panasonic Corp.
- Robert Bosch GmbH
- SENSATA TECHNOLOGIES HOLDING PLC
- Siemens AG
- TE Connectivity Ltd.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Read Free Sample Report.
Geographical Market Analysis
APAC will provide maximum growth opportunities in the electric vehicle relays market during the forecast period. According to our report, the region will contribute to 44% of the global market growth and is expected to dominate the market through 2025. China and Japan are the key countries for the electric vehicle relays market in APAC. Market growth in this region will be slower than the growth of the market in regions such as North America and Europe. OEMs include buyers of electric vehicle relays. Hence, electric vehicle relays depend on electric vehicle production volumes. This will drive the electric vehicle relays market growth in APAC during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. View Our Report Snapshot
Key Segment Analysis
The electric vehicle relays market share growth by the PCB segment will be significant during the forecast period. The structure of PCB relays is compact, and their switching capacity is up to 200A for a system voltage that can range up to 24V. These factors will drive the PCB segment growth.
View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years.
Key Market Drivers & Challenges:
Solid-state relays are expected to become low-cost in the long run, which is driving the electric vehicle relays market. Relays enable small current flow circuits to control and operate a higher circuit in automotive applications. Solid-state relays use an electrically powered signal to generate an optical semiconductor signal. They can be used as alternatives for electromechanical relays.
Recall of electric vehicles over defective relays and related components is challenging the growth of the market. Electric vehicle recalls from defective relays add to the costs of relay manufacturers and eat into their profit margins.
Download free sample for highlights on market Drivers & Challenges impacting the electric vehicle relays market.
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Electric Vehicle Relays Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 31% |
Market growth 2021-2025 |
USD 21.42 billion |
Market structure |
Fragmented |
YoY growth (%) |
30.64 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 44% |
Key consumer countries |
China, US, Japan, Norway, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
DENSO Corp., Fujitsu Ltd., HELLA GmbH and Co. KGaA, Littelfuse Inc., OMRON Corp., Panasonic Corp., Robert Bosch GmbH, SENSATA TECHNOLOGIES HOLDING PLC, Siemens AG, and TE Connectivity Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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