LCV is estimated to be the fastest growing vehicle segment in the automotive relay market
The LCV relay segment is projected to grow at the fastest growth rate during the forecast period from
2017 to 2022. The North America region is estimated to witness a high growth in LCV production. In the
U.S., the LCV production is projected to increase from 3.3 million units in 2017 to 4.4 million units by
2022. OEMs are focused on adding premium electronic features in LCVs, which influences the relay
market for LCV segment. The adoption of applications such as HVAC, sunroof, starter motor, power
seats, door lock, and others is also increasing at high growth rates. Hence, the relay market for this
vehicle segment is estimated to grow at the fastest CAGR during the forecast period.
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Asia-Oceania region is estimated to be the leading market for automotive relay
Asia-Oceania is estimated to dominate the automotive relay market, as the region represents countries
such as China, Japan, South Korea, and India with the world’s highest vehicle production. According to
the Organisation Internationale des Constructeurs d'Automobiles (OICA) publication, these countries
together contributed ~53% to the global vehicle production in 2016. Additionally,
countries like China and India have become manufacturing hubs for automobiles. China’s initiative to
reduce sales tax for passenger vehicles is expected to expand the overall volume of vehicle production
by 15%–16% in 2016. India is also expected to be the fastest growing market due to increasing
disposable income of people. The light vehicle sales in India showed a positive development in the
second quarter of 2016, and new models and compact SUVs are driving the demand for vehicles.
Increased sales would influence the automotive relay market.
The key automotive relay manufacturers profiled in the report include TE Connectivity (Switzerland),
Panasonic Corporation (Japan), Denso Corporation (Japan), Omron Corporation (U.S.), and American
Zettler (U.S.). The automotive relay components are supplied to major OEMs in the automotive industry
such as Volkswagen (Germany), Nissan (Japan), Toyota Motor Corporation (Japan), Honda Motor Co. Ltd
(Japan), and others.
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Study Coverage:
The report covers the automotive relay market, in terms of volume (‘000 units) and value (USD million).
It explains the qualitative and quantitative aspects of the automotive relay market by relay type (PCB,
plug-in, high voltage, protective, signal, and time), by load type and application (small load-door lock,
power window, sunroof, power seat, EPS, horn, wiper; medium load-lighting, fuel injection, defogger;
heavy load- air conditioner, starter), by vehicle type (passenger car, LCV, and HCV), by region (Asia-
Oceania, Europe, North America, and RoW), electric vehicle relay market by vehicle type (plug-in hybrid
electric vehicle, hybrid electric vehicle, and battery electric vehicle), and relay market for 48V
architecture. This report contains various levels of analysis, including industry analysis (industry trends
and Porter’s Five Forces) and company profiles, which highlight emerging and high-growth segments of