Automotive Relay Market 2030: Trends Shaping the Future of Automotive Electronics

The global automotive relay market was valued at USD 13.53 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030. Over the past decade, the diversification of electric automotive components has led to a rise in the number of relays employed as switching devices, each necessitating different features tailored to specific applications. The industry is anticipated to experience steady growth during the forecast period, driven by advancements in miniaturization and the development of high contact capabilities to meet the mounting space constraints found within the Electric Control Unit (ECU) of vehicles.

As electric automotive parts continue to diversify, the number of relays utilized for switching has increased, each with unique feature requirements. Miniaturization and the enhancement of contact capabilities are particularly important within the ECU, where limited mounting space is a challenge due to the clustering of relays. Reliability is critical for these components, especially from a safety perspective. Features such as latching, low noise operation, and ultra-miniaturization are becoming increasingly important to support the latest electronic functions in vehicles.

Gather more insights about the market drivers, restrains and growth of the Automotive Relay Market

Product Segmentation Insights

The market is categorized by product type into PCB relays, plug-in relays, high voltage relays, and other types. The PCB relay segment dominated the market in 2022, accounting for over 64.7% of total revenue, and is anticipated to grow at the fastest CAGR of 8.4% throughout the forecast period. These relays are commonly used in various electronic applications, including ABS, cruise control, power doors, power steering, power windows, and sunroofs, with significant usage in regions like Europe and North America. In contrast, Tier-1 manufacturers and OEMs in the Asia-Oceania region and other parts of the world still favor plug-in relay versions.

Moreover, the increasing demand for electric and hybrid vehicles is significantly propelling the growth of PCB relays in the market. These environmentally friendly vehicles depend heavily on electronic systems for effective power management and control. PCB relays play a crucial role in various electric vehicle applications, including charging systems, battery management systems, and motor control units, ensuring safe and reliable operation.

The high voltage relay segment is also expected to see considerable growth, with a projected CAGR of 8.2% during the forecast period. High voltage relays are gaining traction due to their numerous applications in electric and hybrid electric vehicles. Automotive manufacturers and OEMs typically incorporate these relays into the vehicle's circuit based on specific needs, often establishing partnerships with service centers to guarantee the proper maintenance and replacement of these vital components.

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