Market Share of Electric Vehicle Relay Industry
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.
Electric Vehicle Relay Market Leaders
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TE Connectivity Ltd
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Fujitsu Limited
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Omran Corporation
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Panasonic Holding Corporation
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Texas Instruments Incorporated
*Disclaimer: Major Players sorted in no particular order
