Europe Automotive Relay Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Automotive Relay Market Analysis
The European automotive Relay Market was valued at USD 2,789.53 million in the current year and is projected to grow to USD 3,846.32 million by the next five years, registering a CAGR of 5.5% in terms of revenue during the forecast period.
Over the medium term, As customers are becoming more aware of new safety systems and technology, they are increasingly selecting vehicles with improved safety features. Automotive manufacturers have been forced to equip their vehicles with more electrical products, which in turn is likely to witness major growth for the market during the forecast period.
The electric vehicle market has been witnessing healthy growth rates in recent years. This spike in sales is the result of an increase in regulatory norms by various organizations and governments to control emission levels and to propagate zero-emissions vehicles. These norms have propelled the automakers to increase their expenditure on the R&D of electric vehicles. Electric vehicles have reached par (sometimes surpassed) with IC engine vehicles in terms of performance, maintenance, and the initial cost of purchase. For instance, Tesla has manufactured electric cars, which were claimed to have greater acceleration, power, and top speed than an average IC engine/hybrid car.
The demand for advanced relays with lightweight and high-performance characteristics is compelling manufacturers to invest in producing more solid-state relays, compared to traditional heavy electromechanical relays, owing to the growing demand for hybrid and electric vehicles in the region.
The consistent rise in the demand for fuel-efficient vehicles and technological advancements in vehicle electronics are some of the major driving factors for the growing demand for relays in automobiles.
Europe Automotive Relay Market Trends
Electronic Vehicles and Advancement of Technology Demand Driving Growth
With the introduction of new technologies like ADAS, Digital Cockpit systems, and advancement in infotainment systems, the demand for automotive relays is expected to boom. Several major players are spending heavily on the inclusion of these technologies to attract more demand in the region.
Owing to the increasing pollution levels all around the world and decreased air quality, governments all around the world are encouraging sales of electric vehicles by giving attractive financial benefits to the end users and enhancing the infrastructure for electric vehicles, like charging stations in their country. With the rise in sales of electric vehicles in the region, the automotive relay market is also expected to rise.
Both government involvement and consumers' demand for greater automatic control of systems have resulted in the increased usage of electronics in vehicles. Electronics are giving new opportunities to improve energy efficiency and emission reduction as several functions can be consolidated into fewer and smaller electronic control super units, thereby reducing the weight. The high penetration rate of automobile electronics across all different vehicle classes is being influenced by three major aspects, namely productivity, quality, and innovation.
With the increasing focus on autonomous vehicles and smart cars (with the ability to connect with vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communications) that can ensure safety and convenience the consumers, the demand for electronic systems in new cars has been increasing rapidly.
As the development in the electric and hybrid automotive market is fast-paced and innovative, the parts and components used must also be able to cope with the demands of design and use. Thus, the advent of a broad suite of microcontrollers, power semiconductors, switches, and sensors for pure electric vehicles is expected to augment the adoption of a newer generation of automotive relays that are designed specifically for electric vehicles, which in turn is likely to witness major growth for the market during the forecast period. For instance,
- In July 2022, Ford announced a series of initiatives for sourcing battery capacity and raw materials that help reach its targeted annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.
The development mentioned above across the region is likely to witness major growth for the market during the forecast period.
Germany Remains the Largest Market
With the change in tax regime proposed by the European Union, passenger car sales in the country were up by 1.1%. They reached 2.65 Million passenger cars, which in turn is anticipated to enhance the demand for automotive relays in coming years.
The German government and the car industry have agreed to increase joint subsidies for electric car buyers and extend the program to 2025. Under the agreement, consumer subsidies for electric cars costing less than Euro 40,000 (USD 44,500) are expected to increase to Euro 6,000 (about UDS 6,700) from Euro 4,000. Purchasers of plug-in hybrids in this price range would be given a subsidy of Euro 4,500, up from Euro 3,000. These initiatives have increased demand for electric vehicles in the region.
Increasing technological innovations and growing expenditure on innovation in the car industry are anticipated to boost demand for automotive connectors during the forecast period. For instance,
- The expenditure on innovation in the car industry in Germany is from USD 53.24 billion (EUR 49.85 billion) in 2019 to USD 54.36 (EUR 50.9 billion) in 2021.
With the presence of several automotive OEMs in the country, they are including the latest technologies like a digital cockpit, advanced infotainment systems, and others to attract demand for their vehicles. For instance,
- In September 2022, Mercedes-Benz AG and Qualcomm Technologies, Inc. announced the utilization of Snapdragon Digital Chassis solutions to bring the latest and most digitally advanced capabilities to upcoming Mercedes-Benz vehicles. Mercedes-Benz is integrating Snapdragon Cockpit Platforms to power digital cockpits, as well as Snapdragon Automotive Connectivity Platforms for telematics systems, in upcoming vehicles.
Nevertheless, with the rise in the demand for electric vehicles, the market is expected to grow during the forecast period.
Europe Automotive Relay Industry Overview
The European Automotive Relay Market is dominated by several key players such as Robert Bosch GmbH, Denso Corporation, Fujitsu Ltd., Panasonic Corporation, and others. The major players in the region are spending heavily on the research and development of new products, which in turn is likely to witness significant growth for the market during the forecast period. For instance,
In October 2022, Omron Electronic Components Europe introduced DC power relays of the G9EC-X1, a compact relay offering to switch up to 1000V, 150A DC loads.
In May 2022, Citroen updated its new ë-Relay Electric van range with a larger 75kWh battery across both 3.5 and 4-ton models.
In January 2022, Toshiba Electronics Europe GmbH established a new high-voltage laboratory in Germany. Through this expansion, the company focused on high-voltage power sources, loads, and measuring equipment.
Europe Automotive Relay Market Leaders
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Robert Bosch GmbH
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Denso Corporation
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TE Connectivity
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Fujitsu Ltd.
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
Europe Automotive Relay Market News
- April 2023: Fujitsu Ltd introduced the FTR-G3 relay, the smallest 30A relay in its class, measuring just 6.6 x 13.7 x 14.0mm and weighing approximately 4.0gr. The FTR-G3 relay is an excellent choice for power windows, power seats, tilt steering, door locks, windshield wipers, and sunroof control applications.
- February 2023: OMRON GmbH introduced the G8NB automotive PCB relay. The G8NB relay can be purchased with single (G8NB-1) or twin contact poles (G8NB-2).
Europe Automotive Relay Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
-
4.3 Porter's Five Forces Analysis
- 4.3.1 Bargaining Power of Suppliers
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Threat of New Entrants
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size in Value - USD)
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5.1 By Type
- 5.1.1 PCB Relay
- 5.1.2 Plug-in Relay
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5.2 By Application
- 5.2.1 Locking System
- 5.2.2 Engine Management Module
- 5.2.3 Motors & Pumps
- 5.2.4 Other Applications
-
5.3 By Vehicle Type
- 5.3.1 Passenger Cars
- 5.3.2 Commercial Vehicle
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5.4 By Country
- 5.4.1 Germany
- 5.4.2 United Kingdom
- 5.4.3 France
- 5.4.4 Italy
- 5.4.5 Spain
- 5.4.6 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
-
6.2 Company Profiles*
- 6.2.1 Robert Bosch GmbH
- 6.2.2 Denso Corporation
- 6.2.3 Fujitsu Ltd
- 6.2.4 Panasonic Corporation
- 6.2.5 TE Connectivity
- 6.2.6 Omron Corporation
- 6.2.7 Hella KGaA HUECK & CO.
- 6.2.8 Nidec Corporation
- 6.2.9 Johnson Electric Holdings Limited.
- 6.2.10 MTA S.p.A.
- 6.2.11 LS e-Mobility Solutions.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityEurope Automotive Relay Industry Segmentation
A relay acts as a switch, and it is used to switch connections between different circuits. Relays consist of an electromagnet, wherein the input current causes the coil to generate a magnetic field, which causes the contacts to meet, and thus, the circuit is established. If the input voltage is insufficient, then the contacts may not come together due to the weak magnetic field.
The Europe Automotive Relay Market is segmented into type, application, vehicle type, and country. Based on the Type, the market is segmented into PCB Relay and Plug-in Relay. Based on the Application, the market is segmented into Locking Systems, Engine Management modules, Motors and Pumps, and Others (power window, sunroof, ABS control, etc.)). Based on the Vehicle Type, the market is segmented into Passenger Cars and Commercial Vehicles. Based on the Country, the market is segmented into Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe.
For each segment, the market sizing and forecast have been done based on the value (USD).
| By Type | PCB Relay |
| Plug-in Relay | |
| By Application | Locking System |
| Engine Management Module | |
| Motors & Pumps | |
| Other Applications | |
| By Vehicle Type | Passenger Cars |
| Commercial Vehicle | |
| By Country | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe |
Europe Automotive Relay Market Research FAQs
What is the current Europe Automotive Relay Market size?
The Europe Automotive Relay Market is projected to register a CAGR of 5.5% during the forecast period (2024-2029)
Who are the key players in Europe Automotive Relay Market?
Robert Bosch GmbH, Denso Corporation, TE Connectivity, Fujitsu Ltd. and Panasonic Corporation are the major companies operating in the Europe Automotive Relay Market.
Which is the fastest growing region in Europe Automotive Relay Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Europe Automotive Relay Market?
In 2024, the Europe accounts for the largest market share in Europe Automotive Relay Market.
What years does this Europe Automotive Relay Market cover?
The report covers the Europe Automotive Relay Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Automotive Relay Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Automotive Relay Industry Report
Statistics for the 2024 Europe Automotive Relay market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Automotive Relay analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
