Automotive relay market analysis: Global sales will reach US$4.8 billion in 2023 - QYResearch

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Published: 2023-09-18

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According to QYResearch's Automotive Relay Market Analysis, this report provides a basic overview of its market, including definition, classification, application and industry chain structure, while also discussing development policies and plans as well as manufacturing processes and cost structures, analyzing the development status and future of its market Market trends, and analyze the main production areas, main consumption areas and main manufacturers of its market from the perspectives of production and consumption.

An automotive relay is an electrical switching device used to control the switching operation of high-current circuits in a vehicle's electrical system. It functions to control one or more higher current circuits through the magnetic field generated by an electromagnetic coil under the action of a low current control signal. Relays play an important role in automotive electrical systems and are used to control functions such as starting the engine, controlling lights, fans, speakers, air conditioners, etc. Common automotive relay types on the market mainly include single-pole single-throw relays, double-pole double-throw relays, general-purpose relays, timing relays, fuse relays, high-current relays, etc. Each type has a specific purpose and scope of application.
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The upstream of the automotive relay industry is the manufacturing industry of various metal raw materials (mainly copper, silver and iron), plastic materials, finished hardware parts, injection molded parts and other related raw materials and spare parts; the downstream is oriented to the automotive industry.

Automotive relays are the most important automotive electronic components used in cars after sensors. Their main functions are to protect control switches and realize automatic control. They are widely used in automotive lights, wipers, starters, air conditioners, electric seats, and electric doors and windows. , anti-lock braking devices, suspension controls, audio, etc. The global automobile market has developed rapidly in recent years. Global automobile production will reach 85.02 million units in 2022, a year-on-year increase of 6%. In addition, the degree of automobile electronics continues to increase, coupled with the penetration of new energy vehicles With the growth rate, global automotive relay usage continues to grow and the market scale continues to expand. In 2019, the global automotive relay industry market size reached US$4.729 billion. In 2020, due to the new coronavirus epidemic, the global automotive relay industry market size declined and began to recover in 2021. growth and is expected to reach $4.825 billion in 2023.

With the deep integration of economic globalization, the concentration of global manufacturing has gradually shifted from developed regions such as Europe and the United States to less developed regions such as Asia-Pacific, South America, and Africa. Among them, the globalization of production in the automobile industry has been particularly prominent in recent years. China's economic growth rate and economic volume have increased significantly. The continuous improvement of infrastructure has provided a high-quality production environment for the automobile manufacturing industry, making China the world's largest automobile production and sales market. As one of the important supporting components of the automobile industry, automobile relays have also welcomed the A golden development period has come. In 2022, China's automotive relay output and demand will reach 1,968.27 million and 1,493.15 million respectively, with a market size of 8.073 billion yuan. Among them, automotive aftermarket relays account for approximately 14.96%, and new energy automotive relays account for approximately 14.96%. 46.58%, traditional automotive relays account for about 38.46%. In the future, as the degree of automotive electronics continues to increase, and the penetration rate of new energy vehicles and automotive intelligence continues to grow, China’s automotive relay market will continue to maintain a growth trend. It is expected that China’s automotive relay market will continue to grow in 2023. The market size of the relay industry will reach 9.220 billion yuan.

China is one of the largest automobile markets in the world, and automobile production has maintained steady growth. As the number of vehicles increases, the demand for automobile relays will also increase, especially with the development of new energy vehicles and smart car technology in recent years, 2022 In 2017, China's new energy vehicle production and sales reached 7.058 million and 6.887 million respectively; smart car sales reached 2.36 million, and the smart car penetration rate reached 10.72%. The electronic systems inside new energy vehicles and smart cars have become more complex, leading to The demand for more and higher performance relays is met to meet the control needs of new electrical equipment. In addition, the rapid and large-scale construction of supporting infrastructure, including charging and swapping stations and charging piles, has opened up a broad market space for the growth of the automotive relay industry.

What are the future industry market development prospects and investment opportunities? For specific details, you can click to view the automotive relay industry survey. The QYResearch report conducts specific investigations, research, and analysis of various factors related to the industry, provides insights into the future development direction of the industry, the evolution of the industry's competition landscape, as well as technical standards, market size, potential problems, and the crux of industry development, and evaluates the investment value of the industry. The degree of effect and benefit, constructive opinions and suggestions are put forward, and a reference basis is provided for industry investment decision-makers and business operators.

A comprehensive and in-depth analysis of current industry data on markets, competitors and suppliers.

In-depth research on key industry players and analysis of production and sales operations.

Objective forecasts of future trends in the industry.

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