Electric Vehicle Relay Market Report: Trends, Forecast and Competitive Analysis to 2030

Electric Vehicle Relay Market Report: Trends, Forecast and Competitive Analysis to 2030

Electric Vehicle Relay Trends and Forecast

The future of the global electric vehicle relay market looks promising with opportunities in the heating, lamp & filter capacitor, and motor & pump markets. The global electric vehicle relay market is expected to reach an estimated $7.8 billion by 2030 with a CAGR of 15.8% from 2024 to 2030. The major drivers for this market are growing demand for electric vehicles worldwide, increasing emphasis on energy efficiency and sustainability in vehicles, and government incentives and regulations promoting EV adoption.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Electric Vehicle Relay by Segment

The study includes a forecast for the global electric vehicle relay by type, vehicle type, application, and region.

Electric Vehicle Relay Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Plug-In-Relay
• PCB Relay

Electric Vehicle Relay Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:

• Passenger
• Commercial

Electric Vehicle Relay Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Heating
• Lamps & Filter Capacitors
• Motor & Pumps
• Others

Electric Vehicle Relay Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Electric Vehicle Relay Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric vehicle relay companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric vehicle relay companies profiled in this report include-

• Panasonic Holdings
• TE Connectivity
• OMRON
• ABB
• Xiamen Hongfa Electroacoustic
• Willow
• Zettler
• Tara Relays
• Denso
• BorgWarner

Electric Vehicle Relay Market Insights

Lucintel forecasts that PCB relay will remain the larger segment over the forecast period due to its various advantages, such as improved contact material, increased switching capacities, lower power consumption, and improved features like overload protection, arc suppression, and surge protection.

Within this market, motor & pump is expected to witness the highest growth.

APAC is expected to witness highest growth over the forecast period due to rising production of electric vehicle relays and associated components in the region.

Features of the Global Electric Vehicle Relay Market

Market Size Estimates: Electric vehicle relay market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Electric vehicle relay market size by type, vehicle type, application, and region in terms of value ($B).

Regional Analysis: Electric vehicle relay market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, vehicle types, applications, and regions for the electric vehicle relay market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric vehicle relay market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the electric vehicle relay market size?

Answer: The global electric vehicle relay market is expected to reach an estimated $7.8 billion by 2030.

Q2. What is the growth forecast for electric vehicle relay market?

Answer: The global electric vehicle relay market is expected to grow with a CAGR of 15.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the electric vehicle relay market?

Answer: The major drivers for this market are growing demand for electric vehicles worldwide, increasing emphasis on energy efficiency and sustainability in vehicles, and government incentives and regulations promoting EV adoption.

Q4. What are the major segments for electric vehicle relay market?

Answer: The future of the electric vehicle relay market looks promising with opportunities in the heating, lamp & filter capacitor, and motor & pump markets.

Q5. Who are the key electric vehicle relay market companies?

Answer: Some of the key electric vehicle relay companies are as follows:

• Panasonic Holdings
• TE Connectivity
• OMRON
• ABB
• Xiamen Hongfa Electroacoustic
• Willow
• Zettler
• Tara Relays
• Denso
• BorgWarner

Q6. Which electric vehicle relay market segment will be the largest in future?

Answer: Lucintel forecasts that PCB relay will remain the larger segment over the forecast period due to its various advantages, such as improved contact material, increased switching capacities, lower power consumption, and improved features like overload protection, arc suppression, and surge protection.

Q7. In electric vehicle relay market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rising production of electric vehicle relays and associated components in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the electric vehicle relay market by type (plug-in-relay and PCB relay), vehicle type (passenger and commercial), application (heating, lamps & filter capacitors, motor & pumps, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?