Automotive Market Revenue, Trends, Growth, Technologies, CAGR Automotive Relay Market

“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” MarketsandMarkets: The automotive relay market is projected to grow at a CAGR of 6.20% during the forecast period, to reach a market size of USD 16.75 billion by 2022. The key factors driving the market are increasing demand for vehicle electrification and increasing sales of electric and hybrid vehicles, leading to increased demand for high voltage relays. Browse through 108 market data tables and 57 figures spread across 200 pages, and an in-depth TOC of “Automotive Relay Market- Global Forecast to 2022” Early buyers will receive 10% customization on reports. https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=13970338 Hybrid Electric Vehicle (HEV) segment is estimated to hold the largest market in the Electric Vehicle relay market The HEV segment is estimated to hold the largest market size in the electric vehicle relay market in 2017. HEVs have a combustion engine in addition to the electric motor and battery. On the other hand, in a BEV, the combustion engine gets replaced with an electric motor. Hence, in HEVs, the normal electronic applications will continue to exist along with a few additional electronic applications. Hence, the number of relays will increase in HEVs as compared to BEVs and PHEVs. The relays employed in electric vehicles have different voltage levels, with the power rating ranging from 1kW to 5kW depending on the application. For instance, in ICE passenger car, alternator was used to supply 12V power supply. On the other hand, in EVs and HEVs, this is performed by DC-DC converter with the help of high voltage batteries. Thus, the technical specifications will have a major influence in HEVs and EVs.