Electric Vehicle Relay Market Introduction
Electric vehicle relay is an electrically operated switch in the electric vehicle used to permit to switch on or off a low amperage circuit to a higher amperage circuit, which include turning on headlights. Electric vehicle relays are located frequently within the engine, lighting, battery, steering, screen wiping, and electric mirror modules. Electric vehicle relays are either generally open or generally closed and are also used to switch numerous things at the same time by using one output. Majority of electric vehicle relays can also be utilized within non electric automobiles.
Electric Vehicle Relay Market - Competitive Landscape
- Recently, Willow Technologies introduced its new Durakool electric vehicle relays and contactor. Durakool electric vehicle relay DEVR20, are also applicable for non-electric vehicle relay. Relays are used throughout in electric vehicles and are available in assorted ratings for several and diverse applications for remote control switching.
Willow Technologies Limited.
Established in 1989, Willow Technologies Limited., with headquartered in West Sussex, United Kingdom. The company delivers solutions to its customers by supplying systems and components to the electronic and electrical marketplace around the world. The company is specialists in switching, resistive, sensing, and hermetic seal solutions, and has over 100 years of application experience with extensive portfolio of technologies.
Founded in 2007, J C Bamford Vehicle Relays Ltd. with headquartered in the Schaffhausen, Switzerland. The company designs, develops, and manufactures connectivity and sensor products for industries, such as automotive, industrial equipment, aerospace, data communication systems, defense, oil and gas, medical, consumer electronics and energy.
Established in 1919, Panasonic Corporation with headquartered in Osaka, Japan. The company offers various electronic and non-electronic products. Panasonic Corporation has around 582 consolidated subsidiaries across the world.
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Electric Vehicle Relay Market Dynamics
Increase in Government Incentives along with Growing Awareness about Transportation Emission are Driving Demand for Electric Vehicle Relay
Governments around the world are enacting numerous norms and regulations, over carbon dioxide emission, and supporting and facilitating the rapid commercialization of Zero Emission Vehicles (ZEVs). Proliferation of electric vehicle would fuel the demand for zero-emission vehicles, which in turn is anticipated to boost the demand for global electric vehicle relay as they are used to switch several things at the same time by using single output.
Moreover, surging emission coupled with incentives and tax credits are the prime factor projected to accentuate the growth of the electric vehicle relay market.
Depletion of Fossil Fuels and Rising Demand for Alternatives Vehicle Solution
Fossil fuels are finite and soon, there would be no more fossil fuel left. Going by the current rate of consumption, an estimated 46.7 years of fuel resources remain across the globe, and 49.6 years of natural gas resources remain, worldwide. An alternative for fossil fuel vehicles is mandatory in order to increase the lifespan of the natural resource. Alternatives to fossil fuels are available in the market, such as electric vehicle, LPG, CNG, air powered vehicle, and LNG. However, mass adoption of electric vehicle is likely to act as a solution for the finite availability of natural resources.
Lack of Charging Infrastructure coupled with Higher Cost of EVs to Hamper the Electric Vehicle Relay Market
Electric vehicle uses a battery as a power source; consequently, once the battery is drastically low, it requires recharging. Urban and metropolitan cities have witnessed the penetration of electric vehicle; however, these areas still limits the availability of charging stations.
Additionally, electric vehicles are still expensive vis-à-vis to the price of other alternative engine vehicle, despite government support for EVs via incentives and subsidies offering. These factors are anticipated to hamper the growth of the electric vehicle relay market as electric vehicle directly employs several relays for application.
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Electric Vehicle Relay Market Segmentation
Based on vehicle type, the electric vehicle relay market can be segmented into
- Passenger Vehicle
- Commercial Vehicle
Based on type, the electric vehicle relay market can be classified into
- Electric Vehicle
- Plug-in Hybrid Vehicle
- Hybrid Vehicle
Based on sales channel, the electric vehicle relay market can be classified into
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