Lewes, DE -- (SBWIRE) -- 10/20/2017 -- Report forecast the global electric vehicle relays market to grow at a CAGR of 15.48% during the period 2017-2021.

A relay is an electrically operated switch, which is used to control circuits individually or multiple circuits together using a single signal. It typically works as an on/off switch connecting or disconnecting a particular circuit from the power supply to start or stop its function, respectively. In older times, relays were extensively used in telephone exchanges and computers to perform logical operations, where switching on/off, functioned the algorithm. They have two stable states: being energized and latched or being in the de-energized and unlatched state.

The report covers the present scenario and the growth prospects of the global electric vehicle relays market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:
- APAC
- Europe
- North America

According to the report, one driver in the market is increasing product portfolio and adoption of EVs. The development and adoption of alternative fuel vehicles are considered as major solutions to reduce the emissions of greenhouse gases. Alternative fuel vehicles run on alternative sources of energy, such as electricity, hybrid energy, solar energy, wind energy, or biofuels. APAC, North America, and Europe implement stringent regulations on fuel emissions and consumption, and tax incentives for the increased adoption of EVs.

Further, the report states that one challenge in the market is powered switches, a substitute for relays, gaining market penetration. Relays connect various components in the automotive vehicles and regulate the power flow between various components to ensure that no product is damaged due to excess current supply or overheating. EVs are equipped with nearly 40 relays performing different functions. With the advancements in technology, the powered switch is being used as a replacement for relays as it is an integrated system, which performs the task of all the relays combined.

Global Electric Vehicle Relays Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global electric vehicle relays market: DENSO CORPORATION, Panasonic, and TE connectivity.

Other Prominent Vendors in the market are: American Zettler, Delphi Automotive, Fujitsu, Mouser Electronics, OMRON Corporation, and YMtech.

Market driver
- Increasing product portfolio and adoption of EVs
- For a full, detailed list, view our report

Market challenge
- Powered switches, a substitute for relays, gaining market penetration
- For a full, detailed list, view our report

Market trend
- Development of intelligent relays
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?

Spanning over 65 pages "Global Electric Vehicle Relays Market 2017 - 2021" report covers Executive summary, Introduction, Scope of the report, Research Methodology, Market landscape, Market segmentation by relay type, Geographical segmentation, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

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