EV Relay Market Size

EV Relay Market size is estimated at USD 24.5 billion in 2024 and is set to reach USD 1089.7 billion by the end of 2037, witnessing around 33.9% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of EV relay is assessed at USD 32.8 billion.

The increasing popularity of electric vehicles is anticipated to propel the EV relay market. For example, the International Energy Agency (IEA) projected that global sales of electric cars were 10 million in 2022 and increased by an additional 35% to reach 14 million in 2023. The automobile industry is predicted to experience certain structural changes in the near future due to the rapid development of new technology. Precision, robotic effectiveness, and consistency in the manufacturing process will all be significantly increased by artificial intelligence (AI) and machine learning (ML). Manufacturers can offer attractive features and boost revenue in the EV relay market owing to level 2 automation, which includes driver assistance and active safety systems.