The Surge Continues: Exploring the Impressive CAGR of the MOSFET Relay Market - 0 views
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Almira Coyne on 10 Apr 23The MOSFET relay market is driven by the growth of the increasing adoption of EVs. MOSFET relay relays are used in the batteries of EVs. According to International Energy Agency's Tracking Clean Energy Progress report, EV sales doubled and made up 9% of the car market by the end of 2021 with more cars being sold in the European and Chinese markets. The share of EV car sales is expected to grow by 6% annually until 2031 to reach net zero by 2050. The IEA's scenario for reaching net zero by 2050 sets out a milestone of EVs making up 60% of new car sales by 2030, with more than 300 million EVs on the road by that point. Due to such reasons, the growing EV market is likely to drive the demand of MOSFET relay relays.