Product Code: CMI7345
The global electric vehicle relay market is estimated to be valued at USD 12.09 Bn in 2024 and is expected to reach USD 30.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 12.09 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
14.10% |
2031 Value Projection: |
US$ 30.45 Bn |
Figure. Electric Vehicle Relay Market Share (%), By Region, 2024
The global electric vehicle relay market has been witnessing significant growth over the past few years owing to the rising demand for electric vehicles across the globe. Electric vehicles offer several advantages over conventional internal combustion engine vehicles such as lower operating cost, no tailpipe emissions, and less dependency on fossil fuels. With growing concerns regarding environmental pollution and depletion of non-renewable energy sources, many countries are promoting the adoption of electric vehicles through incentives and subsidies. This has prompted leading automotive OEMs to invest aggressively in the development of electric vehicles. As electric vehicles have more electronic components compared to conventional vehicles, the demand for associated electronic components such as relays is also increasing steadily. The growing sales of plug-in hybrid electric vehicles and battery electric vehicles are expected to drive the demand for electric vehicle relays during the forecast period.
Market Dynamics:
There are several drivers, restraints and opportunities that are likely to influence the market dynamics during the forecast period. Major growth drivers include growing sales of electric vehicles worldwide on the back of supportive government policies and incentives, increasing consumer preference for green vehicles to reduce carbon footprint, and development of affordable and high-performance electric vehicles by OEMs. However, high manufacturing cost of electric vehicles compared to petrol/diesel vehicles and underdeveloped charging infrastructure in developing regions are likely to restrain the market growth. Key opportunities include advancement in battery technologies to improve vehicle range per charge, development of semiconductor relays to enhance vehicle efficiency and reliability, and increasing collaboration between automakers and charging operators.
Key Features of the Study:
This report provides in-depth analysis of the global electric vehicle relay market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global electric vehicle relay market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include AEC (American Electronic Components, Inc.), Continental AG, Denso Corporation, Eaton Corporation, Fujitsu Limited, Hella GmbH & Co. KGaA, Hyundai Mobis, Infineon Technologies AG, Littelfuse Inc., Mitsubishi Electric Corporation, Panasonic Corporation, Robert Bosch GmbH, Schneider Electric SE, TE Connectivity Ltd., and Valeo SA
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global electric vehicle relay market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric vehicle relay market
Detailed Segmentation-
- By Type Insights (Revenue, USD Bn, 2019 - 2031)
- Automotive Relays
- Power Relays
- Signal Relays
- Time Delay Relays
- Others (Thermal Relays, Contactors, etc.)
- By Vehicle Type Insights (Revenue, USD Bn, 2019 - 2031)
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
- By Application Insights (Revenue, USD Bn, 2019 - 2031)
- Powertrain
- Charging
- Infotainment
- HVAC
- Others (Lighting, Body Control, etc.)
- By Regional Insights (Revenue, USD Bn 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- AEC (American Electronic Components, Inc.)
- Continental AG
- Denso Corporation
- Eaton Corporation
- Fujitsu Limited
- Hella GmbH & Co. KGaA
- Hyundai Mobis
- Infineon Technologies AG
- Littelfuse Inc.
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Robert Bosch GmbH
- Schneider Electric SE
- TE Connectivity Ltd.
- Valeo SA
Table of Contents
1. RESEARCH OBJECTIVES AND ASSUMPTIONS
- Research Objectives
- Assumptions
- Abbreviations
2. MARKET PURVIEW
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Electric Vehicle Relay Market, By Type
- Global Electric Vehicle Relay Market, By Vehicle Type
- Global Electric Vehicle Relay Market, By Application
- Global Electric Vehicle Relay Market, By Region
3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Electric Vehicle Relay Market, By Type, 2019 -2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Automotive Relays
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Power Relays
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Signal Relays
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Time Delay Relays
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others (Thermal Relays, Contactors, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Global Electric Vehicle Relay Market, By Vehicle Type, 2019 -2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Passenger Cars
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Commercial Vehicles
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Two-Wheelers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Electric Vehicle Relay Market, By Application, 2019 -2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Powertrain
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Charging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Infotainment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- HVAC
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others (Lighting, Body Control, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Electric Vehicle Relay Market, By Region, 2019 - 2031, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2020 - 2031, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country, 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
8. COMPETITIVE LANDSCAPE
- AEC (American Electronic Components, Inc.)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Continental AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Denso Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Eaton Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fujitsu Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hella GmbH & Co. KGaA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hyundai Mobis
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Infineon Technologies AG
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Littelfuse Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Mitsubishi Electric Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Panasonic Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Robert Bosch GmbH
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Schneider Electric SE
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- TE Connectivity Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Valeo SA
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us