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Automotive Relay Market Share, Size,Growth, Key Players,
Outlook and Forecasts to 2020 | Hexa Research
“ Global automotive relay market is anticipated to reach USD 12 billion by
2020.”
30 November 2018
Global automotive relay market is anticipated to reach USD 12 billion by 2020, as per a new research report
by Hexa research. Rising need for high-frequency signals in automotive industry is expected to drive demand.
These relays enhance driving experience and provide greater safety for consumers. Escalating adoption rate
of sophisticated electronic equipment coupled straight government initiatives regarding safety is likely to
favor automotive relay market growth prospects. However, lack of standardization in components is likely to
challenge industry participants.
PCB replay was the leading product segment and was valued USD 5,500 million in 2013. It is expected to gain
significant market share and reach USD 8,500 million at a CAGR of 6% from 2014 to 2020. Miniaturization of
electromechanical relays is likely to promote its demand. Plug-in relays were the second largest product
segment and accounted for over 32% share of the overall revenue in 2013. Increasing usage of ele ctronic
control modules along with electronic components are factors responsible for demand growth.
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-relay-market
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