The global automotive relay market is anticipated to grow at a 6.0% CAGR during the forecast period 2021-2027. The rising penetration of ADAS and novel energy devices will propel the growth of the market. Furthermore, the mounting demand for electric vehicles due to technological development in the automobile industry, initiatives by the government in the form of incentives, awareness among consumers about a sustainable living will lead to the growth of the automotive relay market.

The need for high-power requirement for heavy equipment to operate in an extreme environment will propel the growth of the automotive relays. Nonetheless, rising demand for renewable energy, electrification of auxiliary loads, and the capacity to satisfy energy efficiency criteria will propel the automotive relay industry forward.

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The global automotive relay market is divided into the plug-in relay, PCB relay, high voltage relay, and others based on product. PCB relay contributes to the largest share in the market owing to the need for electronic control modules and electronic components are growing, necessitating the development of smaller devices capable of carrying higher current loads. PCB relays' main advantage is their miniature size, which saves a lot of space in the automotive junction box. Power steering, sunroofs, power windows, ABS, cruise control, and doors are some of the most common applications for these products. Government attempts to encourage the adoption of electric vehicles are expected to boost revenue in the automotive relay market.

The Asia Pacific holds the largest share in the automotive relay market owing to the increased penetration of automobiles in emerging regions like China and the rising adoption of safety standards that will drive the growth in the region. The rising demand for connectivity, car digitalization, increased investment of the OEMs, and favorable regulatory landscape will further bolster the growth in the region.

In November 2021, OMRON Electronic Components Europe has introduced a low-profile DC power relay that saves PCB space without sacrificing performance. The G5PZ-X is a good choice for inrush protection circuits or for managing equipment such as solar energy storage systems (ESS) or vehicle to home (V2H) charging points for EVs.
In August 2021, Fujitsu has introduced two new strong relays: the FBR53-HC (Ultracompact 50A PCB/THR Relay) and the FTR-K5 Series (for 6.6kW EV/PHV On-Board Chargers) for automotive applications that require compact size and great efficiency.

The prominent players in the automotive relay industry include Mouser Electronics, Inc., Daesung Electric, Fujitsu, Omron Corporation, Eaton Corporation plc, Hella KGaA Hueck & Co., ABB Group, Nippon-Aleph, NEC Corporation, TE Connectivity Corporation, Denso Corporation, Panasonic Corporation, American Zettler, and Sharp Corporation.