Automotive Relay Market Projected to Reach $15.5 Billion by 2027
The automotive relay market is projected to grow from USD 12.2 billion in 2022 to USD 15.5 billion by 2027, at a CAGR of 5.0% for the same period. The base year for the report is 2021, and the forecast period is from 2022 to 2027. The market would witness growth owing to driving factors such as the increasing need for safer and more comfortable vehicles and increasing sales of electric and hybrid vehicles, raising the demand for high-voltage relays.
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