Automotive Relay Market Size

Automotive Relay Market size is evaluated at USD 14.2 billion in 2024 and is likely to cross USD 32.2 billion by the end of 2037, registering more than 6.5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of automotive relay is assessed at USD 15.1 billion.

The growing popularity of electric and hybrid vehicles is driving a substantial expansion in the automotive relay market. Automotive relays act as switches for power supply and control signals and are essential to the functioning of electrical systems in automobiles. Furthermore, the market for automotive relays is expanding due to the increased complexity of electrical systems in automobiles. According to a report by International Energy Agency (IEA) around 14 million new electric vehicles were registered globally in 2023, bringing the total number of vehicles on the road to 40 million.

Throughout the projected period, it is expected that the average number of relays fitted per automobile will climb due to the rising utilization of complex electronic equipment and the increased attention on safety and security. The switching of auxiliary devices for safety, security, communications, and entertainment requires additional relays along with the conventional ones used in powertrain systems. Increased developments in PCB relays to lower overall vehicle weight for better fuel economy are predicted to spur market expansion throughout the projected period.