Automotive Solenoid Market Size, Share & Trends Analysis Report
By Product, By Distribution Channel, By Region, And Segment Forecasts, 2022 – 2028
Global Automotive Solenoid Market was valued at USD 5.06 billion in 2021 and is expected to reach USD 8.45 billion by the year 2028, at a CAGR of 7.6%.
A Solenoid is a coil of wire wound over a metal core. In a world where Automation is reaching significance in our day-to-day lives at a fast pace, Solenoid's support achieves 'Automation' in various applications. When we give electric current at one end of the solenoid, it creates a magnetic field and this magnetic field can control things such as air pressure, locks, or water pressure. Automotive Solenoids find usage in various sectors such as the Automobile industry, Medical Systems, or Lock mechanisms, to name a few. The most popular utilization of Automotive Solenoids is on the devices like Joystick used for games. A solenoid in automobiles is a pivotal piece of the starter and it functions as a sort of contact for power to reach the starter from the respective battery. As the generation of vehicles is growing at an enduring rate, so is the interest of manufacturers' solenoids. Another factor that is likely to go to pick up force is the application of solenoid in the programmed transmission of automobiles. Contemporary programmed transmission autos apply a waterdriven liquid under pressure with a specific end goal to change gears.
The research presents a full analysis of the pandemic's influence on the whole industry, as well as an outline of market scenarios before and after COVID-19. All of our reports will be modified before distribution to account for the impact of COVID-19 in order to offer a more accurate market prediction. The research study looks at numerous market segments based on type, application, and geographies. The research also includes a competitive analysis of the top Automotive Solenoid product providers, as well as their most recent advances. This study is divided into three sections: type, application, and region, with market size and forecasts for each area. For the predicted period, yearly compound growth rates for all segments have also been presented.
• Robert Bosch GmbH
• Johnson Electric Holdings Ltd.
• Parker Hannifin Corporation
• Schaeffler AG
• Kendrion NV
• Magnet - Schultz GmbH & Co. Kg
• Rotex Automation Limited
• Padmini Vna Mechatronics Pvt Ltd
• Pneumadyne Inc.
• TLX Technologies LLC.
• WABCO Holdings Inc. and other major players.
The automotive solenoid market, by EV type, is projected to grow at a very fast rate due to the increase in the demand for EVs as countries around the world aim at emission reductions from automobiles. The BEV accounts for the largest market share as it does not require a gasoline engine which requires fuel and routine maintenance. The prices of batteries for EVs are decreasing due to the advancements in technology which are expected to result in the reduced overall prices of BEVs.
By Region:
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)
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Reasons to Purchase this Market Report:
• Market forecast analysis through recent trends and SWOT analysis
• Automotive Solenoid Market Dynamics Scenarios with Market Growth Opportunities over the Next Year
• Market segmentation analysis, including qualitative and quantitative studies that include economic and non-economic impacts
• Automotive Solenoid Market Regional and country-level analysis that integrates demand and supply forces that impact the growth of the market.
• Competitive environment related to the Automotive Solenoid market share for key players, along with new projects and strategies that players have adopted over the past five years.
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.
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Automotive solenoids are electromechanically controlled valves. They control the rate of flow of fluids (gas or liquid) in various automotive systems. They work with electric current. Whenever electricity flows through the solenoid coil, it will generate electromagnetic suction valve core (or overcome spring since the gravity). Automotive solenoids are commonly used to divert the oil, water, gas and other material circulation.
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