Electric Vehicle Relays Market Size to Grow by USD 21.42 Billion | Market Research Insights Highlight Solid-state Relays to Become Low-cost in the Long Run as Key Driver

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.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify existing opportunities in and potential markets and assess their competitive positions within changing market scenarios.

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