Sep 27, 2017   SOURCE: BusinessWire

Electric Vehicle Relays Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global electric vehicle relays market to grow at a CAGR of over 15% during the forecast period, according to their latest report.

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Technavio has published a new report on the global electric vehicle relays market from 2017-2021. (G ...

Technavio has published a new report on the global electric vehicle relays market from 2017-2021. (Graphic: Business Wire)

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

In EVs, relays are largely used in powertrain, battery, charger system, and interior and exterior system, which include safety features, security, and comfort features. EV relays are either in normally open (NO) or in normally closed (NC) state. Most of these relays are used in conventional ICE vehicles also, except battery, power electronics, and charger system relays.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global electric vehicle relays market:

  • Low cost SSR relays
  • Technological advancements
  • Increasing product portfolio and adoption of EVs

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Low cost SSR relays

In the last decade, SSRs have attained much penetration and replaced the conventional electromechanical relays. Owing to the nano and micro materials and very large-scale integration (VLSI) techniques, the design of the SSRs have become more reliable, safe, and durable. Also, SSRs allow fast switching and high switching currents, making it suitable for high-power rated applications, such as in EVs.

Amey Vikram, a lead automotive electronics research analyst at Technavio, says, “As the technology becomes more advanced, the cost to develop and manufacture the relay also increases. Hence, it is essential that cost reduction and quality of relays go together. As relays extensively use raw materials, such as copper, silver, and other precious metals, which are expensive, a balance must be struck between the quality of the relay and the overall manufacturing cost of the relays.”

Technological advancements

Various advancements are taking place at the component and material level in relays. For instance, the contact resistance of relays is being reduced by adopting new materials and coatings for the contacts. This is done by R&D into complex metallic alloys and surface coats, which plays a significant role in the low-power relays where room for contact losses is not present.

“Another area of development is the consumption reduction of coil power. This is done by improving the magnetic characteristics and polarization of fluxes. It helps in the reduction of coil power consumption and undue heating. Also, continuous research is happening to develop complex alloys, which has the capacity to withstand repeated arcing with minimum deterioration,” adds Amey.

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.

The upcoming expansion of the product portfolio for hybrid EVs by top OEMs is another reason for the increased vehicle sales in the market. Currently, the global market has about 50 best-selling hybrid models and 20 pure EV models. OEMs are also planning to launch the next generation of vehicle models. Nissan Rogue and Kia Niro are the new product offerings.

Top vendors:

  • DENSO CORPORATION
  • Panasonic
  • TE connectivity

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