Automotive Relay Market Size

Automotive Relay Market Size

Automotive Relay Market size surpassed USD 13 billion in 2016 and is projected to grow at over 4% CAGR between 2017 and 2024. High-power requirement for heavy equipment that operates in harsh environment will escalate the penetration of automotive relays.

Desire to possess lighter, faster, less energy consuming, smaller, and devices with enhanced functionality makes the users more productive in designing the vehicles. Rising interest in clean energy, electrification of auxiliary loads, and need to meet energy efficiency standards will induce immense potential to the automotive relay market growth.

Highly customized, technology driven, and integrated nature of these devices has forced the manufacturers to invest heavily in certification and ensure proper functioning of the system they are embedded in. Industry penetration is further strengthening owing to advancements in vehicles such as connected car, autonomous driving, and vehicle electrification. Advancements in premium cars involves development of highly customized tools and specialized expertise.

Various government bodies have taken favorable steps to curb the number of road fatalities by incorporating safety products in the vehicles. For instance, Federal safety standards are written in terms of minimum safety performance requirements for motor vehicles and products. Government funding across world will further fuel the industry growth.

Products used to ensure passenger safety includes air bags, backup sensing system, energy absorbing steering system, seat belts, heads up display, head restraints, and passenger sensing system. Relays are used to turn these devices on or off.