How big is the Automotive Relay Market?

The Automotive Relay Market size is expected to reach USD 13.52 billion in 2024 and grow at a CAGR of 5.58% to reach USD 17.74 billion by 2029. Read More

What is the current Automotive Relay Market size?

In 2024, the Automotive Relay Market size is expected to reach USD 13.52 billion. Read More

Who are the key players in Automotive Relay Market?

DENSO Corporation, Fujitsu Ltd, Panasonic Corporation, Nidec Corporation and TE Connectivity are the major companies operating in the Automotive Relay Market. Read More

Which is the fastest growing region in Automotive Relay Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Automotive Relay Market?

In 2024, the Asia-Pacific accounts for the largest market share in Automotive Relay Market. Read More

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

In 2023, the Automotive Relay Market size was estimated at USD 12.77 billion. The report covers the Automotive Relay Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Relay Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Automotive Relay Market Share

Statistics for the 2023 & 2024 Automotive Relay market share, created by Mordor Intelligence™ Industry Reports. Automotive Relay share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Automotive Relay Industry

The automotive relay market is dominated by companies such as DENSO Corporation (ANDEN Co. Ltd), Panasonic Corporation, TE Connectivity, and Nidec Corporation.

The market for automotive relays is highly competitive due to the presence of international and domestic relay suppliers in the region. The companies are investing heavily in R&D projects and launching new products. For instance:

In May 2023, Texas Instruments (TXN) released a new portfolio of isolated solid-state relays designed for electric vehicles. These automotive-qualified relays feature isolated drivers and switches that improve reliability by connecting and disconnecting loads rapidly. They aim to reduce costs and size in powertrain and 800-V battery management systems. Mass production is set to take place in Malaysia, with initial monthly production capacity planned to increase from 400,000-500,000 units to 1 million units. These relays are expected to expand TXN's reach among engineers and enhance its market presence in the EV industry.
In April 2022, LG Magna e-Powertrain announced its latest manufacturing facility in Ramos Arizpe, Mexico. This newly established plant is dedicated to producing inverters, motors, and onboard chargers with the primary objective of bolstering General Motors Electric Vehicle (EV) manufacturing operations.