Global Electric Vehicle Relays Market 2024-2028
Technavio has been monitoring the electric vehicle relays market and is forecast to grow by USD 377323.1 mn during 2023-2028, accelerating at a CAGR of 63.49% during the forecast period. Our report on the electric vehicle relays market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by solid-state relays to become low-cost in the long run, increase in electronics and safety requirements in electric vehicles, and increasing adoption of battery electric vehicles and plug-in hybrid electric vehicles.
Technavio's electric vehicle relays market is segmented as below:
By Type
By Vehicle Type
- PLDVs
- LCVs
- Buses and trucks
By Geography
- APAC
- Europe
- North America
- South America
- Middle East and Africa
This study identifies the consolidation of relay market as one of the prime reasons driving the electric vehicle relays market growth during the next few years. Also, rising adoption of advanced electric vehicle charging systems and advancements in relay design will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the electric vehicle relays market covers the following areas:
- Electric vehicle relays market sizing
- Electric vehicle relays market forecast
- Electric vehicle relays market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric vehicle relays market vendors that include ABB Ltd., American Zettler Inc., Aptiv Plc, BorgWarner Inc., DENSO Corp., Fujitsu Ltd., Good Sky Electric Co. Ltd., HELLA GmbH and Co. KGaA, IDEC Corp., Littelfuse Inc., OMRON Corp., Panasonic Holdings Corp., Robert Bosch GmbH, Schneider Electric SE, Sensata Technologies Inc., Shanghai Hu Gong Auto electric, Siemens AG, TE Connectivity Ltd., HONGFA, and YM Tech Co. Ltd.. Also, the electric vehicle relays market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.