The Automotive Solenoid Market is valued at USD 4.31 Billion in 2021 and is expected to reach USD 7.33 Billion by 2028 with a CAGR of 7.9% over the forecast period.
The increasing demand for electricity conservation has been used in a way that doesn’t impact fuel efficiency; this makes the solenoids a lot more important in the automobile industry. This results in the growth of the global automotive solenoids market. The automotive solenoids are employed for a broad range of applications like automatic transmission and for the starting of a car. The solenoid in automobiles has been a major piece of the starter and its functions which is a sort of the contact for the power of reaching the starter from this respective battery. With the generation of the vehicles seeing an expansion at the rate of endurance, it is in the favor of the manufacturers’ solenoids. One more factor which is going to probably pick the force up is the utilization of the solenoid in the programmed transmission of automobiles. The solenoid refers to mainly a coil that is enfolded around the helix which is resolutely packed. When this is explained in the physical science terms, it’s again a coil, the length of which is more than the diameter as well as the coil which is enveloped around the core which is metallic and it produces a magnetic field which is smooth at a time when this electric current is moving through this solenoid.
The global automotive solenoid market has been segmented on the basis of vehicle type, function, geography, and application. In terms of function, this market has been segregated into gas control, fluid control as well as motion control. The segment of motion control is the segment of the global automotive solenoid market because of the growing prevalence of the automation of the applications of body control in the vehicle.
In terms of the vehicle type, the global automotive solenoid market may be divided into commercial vehicles, passenger vehicles, and electric vehicles. The segment of passenger vehicles has been accounting for the biggest share in the market and this was because of the number of passenger vehicles and also in the other vehicles, the automotive solenoids have been used. The segment of electric vehicles has most likely been used for the cars of the electric vehicles has been gaining momentum because of the higher number of the solenoids for being used in a car.
On the basis of the application, the global automotive solenoid market has been classified into the cooling system and engine control, emission control, interiors, and body control as well as security and safety.
The major players which have been operating in the global automotive solenoid market are,
The rise in the demand for automation systems is providing higher fuel efficiency and is downsizing the engine without affecting the overall effectiveness of the engine and also driving the market toward the rapid amount of development. The increasing demand for the conserving of electricity has been used in a manner that does not affect the efficiency of fuel makes the solenoids a lot more important in the automobile industry which is leading the exponential market growth. Although, the larger setups required for the maintenance and production are restraining the growth of the market. The global automotive solenoid market has been growing in the world for the last few years and has been growing in the next few years as well.
As far as the region is concerned, this global automotive solenoid market has been the segment of Latin America, Asia Pacific, Europe, North America, and the Middle East & Africa. The regions of the Asia Pacific have been expected to dominate the global automotive solenoid market in the period of forecast. The region has consisted of a few of the developing countries including South Korea, India, and China. All the growth is owing to the rise in the demand for automation systems.
The Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 4.31 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||7.9%|
|Market Size Expected in 2028:||USD 7.33 Billion|
|Tables, Charts & Figures:||175|
|Automotive Solenoid Manufacturers||BorgWarner Inc, Mahle Gmbh, Nidec Corporation, Johnson Electric Holdings Limited, Schaeffler Ag, Rheinmetall Automotive, Hitachi Astemo, Continental Ag, Denso Corporation, Zf Friedrichshafen Ag, Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric Holding And More|
|Segments Covered||By Vehicle Type, By Electric Vehicle Type, By Application, By Function, By Valve Design|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|