How big is the Electric Vehicle Relay Market?

The Electric Vehicle Relay Market size is expected to reach USD 11.78 billion in 2024 and grow at a CAGR of 14.10% to reach USD 27.23 billion by 2028. Read More

What is the current Electric Vehicle Relay Market size?

In 2024, the Electric Vehicle Relay Market size is expected to reach USD 11.78 billion. Read More

Who are the key players in Electric Vehicle Relay Market?

TE Connectivity Ltd, Fujitsu Limited, Omran Corporation, Panasonic Holding Corporation and Texas Instruments Incorporated are the major companies operating in the Electric Vehicle Relay Market. Read More

Which is the fastest growing region in Electric Vehicle Relay Market?

North America is estimated to grow at the highest CAGR over the forecast period (2023-2028). Read More

Which region has the biggest share in Electric Vehicle Relay Market?

In 2023, the Asia Pacific accounts for the largest market share in Electric Vehicle Relay Market. Read More

What years does this Electric Vehicle Relay Market cover, and what was the market size in 2023?

In 2023, the Electric Vehicle Relay Market size was estimated at USD 10.12 billion. The report covers the Electric Vehicle Relay Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Electric Vehicle Relay Market size for years: 2024, 2025, 2026, 2027 and 2028. Read More

Electric Vehicle Relay Market Size & Share Analysis - Industry Research Report

Electric Vehicle Relay Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Electric Vehicle Relay Market Report is Segmented by Propulsion Type (battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV)), Product Type (PCB Relay and Plug-In Relay), Vehicle Type (passenger Car and Commercial Vehicle), Application (electric Power Steering, Anti-Lock Braking System, Door Lock, Power Window, Air Conditioner, and Other Applications), and Geography. The Market is Segmented Into North America, Europe, Asia-Pacific, and the Rest of the World. The Report Offers A Forecast and Market Size for Value (USD) and Volume (units).

Electric Vehicle Relay Industry Overview

The electric vehicle relay market is consolidated and led by globally and regionally established players. The companies adopt strategies such as new product launches and collaborations to sustain market positions. For instance

In August 2023, LS e-Mobility Solutions, a subsidiary focused on electric vehicle (EV) components under LS Electric Co., secured a supply contract valued at 250 billion won (USD187 million) to provide relays for electric vehicles manufactured by Hyundai Motor Co. and Kia Corp. The agreement was officially announced by LS Electric, highlighting that LS Mobility Solutions, a branch of LS e-Mobility Solutions, has entered into a contract with Hyundai-Kia Motors. The agreement entails the supply of EV relays for electric vehicles. The components are scheduled for delivery in the first half of 2025.

Some of the major players in the market include Panasonic Corporation, Texas Instruments, Omron Corporation, and Fujitsu Limited.