The global automotive relay market revenue is expected to expand at a lucrative CAGR over the forecast period. Growing automotive industry in developing economies is expected to drive revenue growth of global automotive relay market.

The global automotive relay market report has been segmented on the basis of product type, vehicle type, application, and region.

On the basis of product type, the global market has been segmented into PCB relay, plug-in relay, high voltage relay, and others (protective relay, signal relay, and signal relay). The high voltage relays segment is projected to grow at a higher rate in the global automotive relay market over the forecast period. Growing demand for electric and hybrid electric vehicles is expected to drive revenue growth of the segment over the forecast.

On the basis of vehicle type, the global target market has been segmented into passenger vehicles, commercial vehicles, and electric vehicles. The passenger vehicles segment is expected to hold a significant share in the global target market. Growing demand for passenger cars in developing economies owing to increasing purchase power and changing living standards of consumers is expected to support revenue growth of this segment.

On the basis of application, the global automotive relay market has been segmented into resistive loads, capacitive loads, and inductive loads. The inductive loads segment is expected to grow at a steady rate over the forecast period. Growing demand for vehicle safety and security systems in developing economies is expected to support revenue growth of this segment.

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On the basis of region, the global automotive relay market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The automotive relay market in North America is expected to grow at a steady rate over the forecast period. Growing production of commercial vehicles in the region is expected to support revenue growth of the market in North America.

Key players operating in the global automotive relay market include Panasonic Corporation, ABB Inc., TE Connectivity Ltd., American Zettler Inc., Denso Corporation, Beta Electric Industry Co. Ltd., Omron Corporation, Coto Technology, Inc., Eaton Corporation plc, and Fujitsu Limited.

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