Automotive Solenoid Market Size, Share & Industry Analysis, By Vehicle Type (Passenger Cars, Commercial Vehicles), By Valve Type (2- Way, 3- Way, 4- Way, 5- Way, Others), By Application Type (Body Control & Interiors, Fuel & Emission Control, Engine Control & Cooling System, Safety & Security, HVAC, Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI103635 | Status : Ongoing

KEY MARKET INSIGHTS

A solenoid is mainly a coiled wire that is wounded around a metal core, which produces a magnetic field when the current is passed on through the solenoid. The automotive solenoids are embedded for various purposes such as starter for car ignition, automatic transmission, etc. Globally, owing to the enduring growth of urbanization, development in infrastructures, rising inclination of people towards buying vehicles, also a surge in demand for advanced automotive systems have positively impacted the automotive solenoid market to a great extent. Furthermore, the rise in the disposable income of people, various government initiatives for promoting the sale of automotive is also propelling the growth of the automotive solenoid market.

Key Market Driver -

Increasing sales of fuel-efficient vehicles, rise in disposable income are driving the growth of the automotive solenoid market

Key Market Restraint -

Fluctuations in the automobile industry, high investment may restrain the growth of the market.

Market Segmentation:

The global automotive solenoid market has been segmented into vehicle type, valve type, application type, and geography. By vehicle type, the market has been further divided into passenger cars and commercial vehicles. Passenger cars hold the largest market share in the global automotive solenoid market. Owing to the rise in the disposable income of people, the need for personal cars, cabs, and also the trend of electric vehicles have increased to a large extent in the emerging economies. Furthermore, developing countries like India, China, and Japan are the leading manufacturers of passenger cars that are fuelling the growth of the automotive solenoid market. By valve type, various types of valves are used in the vehicles, such as 2-way, 3-way, 4-way, and 5-way valves. The use of these valves depends on the fuel supply and engine design of the vehicles. By application type, the market is further segmented into body control & interiors, fuel & emission control, engine control & cooling system, safety & security, and HVAC. The body control & interior application is projected to dominate the global automotive solenoid market owing to its use in all passenger cars, electric vehicles as well as in commercial vehicles.

Key Players Covered in the Automotive Solenoid Market:

Top players operating in the global automotive solenoid market include Robert Bosch GmbH. Continental AG, BorgWarner Inc., Hitachi Ltd., Johnson Electric Holding Ltd., Mitsubishi Electric Corporation, Delphi Automotive PLC, Global Point Magnetics Asia Co. Ltd, and Padmini VNA Mechatronics Pvt Ltd among others.

Key Insights

New Advancements in automotive solenoid

Number of Products, Key Countries, 2018

New Product Launches, Key Players

Regional Analysis:

Geographically, the automotive solenoid market is segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific holds the largest market share in the global automotive solenoid market and is expected to dominate in the forecast period. Developing countries such as India, Japan, and China are the major producers of automobiles, and also the significant OEMs are situated in this region. This has triggered the growth of the automotive solenoid market in recent years. Europe, on the contrary, shows a significant increase in the automotive solenoid market owing to the rise in the automotive industry. Moreover, the critical automobile players such as Audi and Volkswagon have their presence in this region.

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Segmentation

ATTRIBUTE	DETAILS
By Vehicle Type	Passenger Cars Commercial Vehicles
By Valve Type	2- Way 3- Way 4- Way 5- Way Others
By Application Type	Body Control & Interiors Fuel & Emission Control Engine Control & Cooling System Safety & Security HVAC Others
By Geography	North America (USA, Canada, and Mexico) Europe (Germany, France, U.K., and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific) Rest of the World

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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