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Automotive relay plays an important role in managing the wiring requisites in modern cars. Growing demand for vehicles in emerging economies such as China and India has reflected favourably on the global Automotive Relay Market Share. Over the year, a wide variety of automotive relay has come up.
Segmental Analysis
Segmental analysis of the market has been conducted based on electric vehicle type, load type, type and region.
On the basis of electric vehicle type, the Automotive Relay Market Share has been segmented into battery electric vehicle, plug-in hybrid electric vehicle and hybrid electric vehicle. On the basis of load type, protective, time, high volt, PCB and plug-in. The PCB segment is expected to exhibit a strong growth in the projected future. PCB relays have a broad application range which covers electric steering, cruise control, sunroof and power windows. Preference for PCB relay is also on the rise owing to its heavy-duty performance capacity.
Regional Analysis
The market has been covered across Asia Pacific (APAC), North America, the Middle East & Africa (MEA), South America and Europe. Of these, the market is expected to remain most attractive in APAC. During the forecast period, the APAC Automotive Relay Market Share is set to exhibit an impressive. Growth of the automotive manufacturing sector in China coupled with the rising sales of vehicles is supporting the market in Asia Pacific. Rising standard of living, increased per-capita income and rapid urbanization are factored in as well. In recent years, domestic production of commercial and passenger vehicles has increased significantly in Asia.
Competition Analysis
Some of the top-notch companies functioning in the market include Omron Corporation (Japan), Fujitsu (Japan), Denso Corporation (Japan), ABB Group (Switzerland), Sharp
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