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PUBLISHER: SkyQuest | PRODUCT CODE: 1603478

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PUBLISHER: SkyQuest | PRODUCT CODE: 1603478

Automotive Solenoid Market Size, Share, Growth Analysis, By Function (Fluid Control, Gas Control), By Valve Design, By Vehicle Type, By Application, By Sales Channel, By Region - Industry Forecast 2024-2031

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Global Automotive Solenoid Market size was valved at USD 4.6 billion in 2022 and is poised to grow from USD 4.93 billion in 2023 to USD 8.53 billion by 2031, growing at a CAGR of 7.1% during the forecast period (2024-2031).

The automotive solenoid market is poised for substantial growth, driven by several key factors including the robust expansion of the automotive sector, the rising popularity of electric vehicles, and an increasing demand for automated systems. These electromechanical valves play a vital role in regulating the flow of gases and liquids in various automotive applications, such as automatic gearboxes and powertrain systems, thereby enhancing driving comfort, fuel efficiency, and overall vehicle performance. As electric current powers these solenoids, their electromagnetic nature allows for precise control, enabling timely responses that are crucial for applications like fuel injection and emissions control. Furthermore, supportive initiatives from governments and prominent automakers are expected to create positive market dynamics. As manufacturers continue to innovate and introduce new features, the variety of solenoid applications is expanding, thus fueling demand. The automotive industry's focus on improving system accuracy and operational effectiveness is making solenoid actuation an indispensable component in modern vehicles. With the ongoing advancements in technology, solenoids are set to remain fundamental to optimizing automotive performance while also contributing to environmental objectives. Overall, the future of the automotive solenoid market appears promising, as it aligns with the industry's shift towards more efficient and automated vehicle systems.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Solenoid market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Automotive Solenoid Market Segmental Analysis

Global Automotive Solenoid Market is segmented by function, valve design, protocol, vehicle type, application, sales channel and region. Based on function, the market is segmented into fluid control, gas control and motion control. Based on valve design, the market is segmented into 2-way valve, 3-way valve, 4-way valve, 5-way valve. Based on protocol, the market is segmented into direct acting, manual reset and pilot operated. Based on vehicle type, the market is segmented into passenger vehicle, commercial vehicle and electric vehicle. Based on application, the market is segmented into engine control and cooling systems, fuel and emission control, safety and security, body control and interiors, HVAC (Heating, Ventilation and Air Conditioning) and other applications. Based on sales channel, the market is segmented original equipment manufacturers (OEMs) and aftermarket sales. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Automotive Solenoid Market

The Global Automotive Solenoid market is significantly driven by the rising demand for advanced automation systems within the automotive industry. As the sector embraces increased automation and digitalization, the traditional reliance on mechanical actuators for simple functions-such as seat adjustments and window operations-has evolved. The shift towards sophisticated automated applications, coupled with a focus on enhancing fuel efficiency, is propelling the growth of solenoids, also known as electromechanical actuators. These components are integral in various automated functions within trucks and heavy-duty vehicles, facilitating activities such as lifting, tilting, adjusting, and controlling, thereby transforming the way vehicles operate.

Restraints in the Global Automotive Solenoid Market

The Global Automotive Solenoid market is currently facing significant challenges due to a marked decline in car production over recent years. The automotive industry has been grappling with a downturn, with a reported 16% drop in global vehicle manufacturing in 2020 compared to the sales levels of 2010, according to the International Organisation of Motor Car Manufacturers (OICA). Europe experienced an average reduction exceeding 21%, with major producing countries seeing decreases ranging from 11% to over 40%. In the same year, Europe accounted for more than 22% of global production and North America contributed 15.7 million units, representing 20% of worldwide output.

Market Trends of the Global Automotive Solenoid Market

The global automotive solenoid market is witnessing significant growth, driven by the surge in vehicle electrification and the increasing demand for advanced automotive technologies. As manufacturers strive to enhance safety, efficiency, and performance, solenoids are becoming integral components in critical systems such as braking, transmission, and engine management. The automotive industry's shift toward electric and hybrid vehicles is further boosting the need for innovative solenoid applications, leading to greater automation and control. Additionally, the rising consumer preference for comfort and convenience features, including automatic door locks and power windows, is anticipated to propel the market, presenting lucrative opportunities for industry stakeholders.

Product Code: SQMIG25A2327

Table of Contents

Introduction

  • Objectives of the Study
  • Scope of the Report
  • Definitions

Research Methodology

  • Information Procurement
  • Secondary & Primary Data Methods
  • Market Size Estimation
  • Market Assumptions & Limitations

Executive Summary

  • Global Market Outlook
  • Supply & Demand Trend Analysis
  • Segmental Opportunity Analysis

Market Dynamics & Outlook

  • Market Overview
  • Market Size
  • Market Dynamics
    • Driver & Opportunities
    • Restraints & Challenges
  • Porters Analysis & Impact
    • Competitive rivalry
    • Threat of substitute
    • Bargaining power of buyers
    • Threat of new entrants
    • Bargaining power of suppliers

Key Market Insights

  • Key Success Factors
  • Degree of Competition
  • Top Investment Pockets
  • Market Ecosystem
  • Technological Advancement
  • Regulatory Landscape
  • Patent Analysis
  • Value Chain Analysis
  • Case Study Analysis
  • Customer & Buying Criteria Analysis
  • PESTEL Analysis
  • Macro-Economic Indicators
  • Market Attractiveness Index
  • Pricing Analysis

Global Automotive Solenoid Market Size by Function & CAGR (2024-2031)

  • Market Overview
  • Fluid Control
  • Gas Control
  • Motion Control

Global Automotive Solenoid Market Size by Valve Design & CAGR (2024-2031)

  • Market Overview
  • 2-way valve
  • 3-way valve
  • 4-way valve
  • 5-way valve

Global Automotive Solenoid Market Size by Protocol & CAGR (2024-2031)

  • Market Overview
  • Direct Acting
  • Manual Reset
  • Pilot Operated

Global Automotive Solenoid Market Size by Vehicle Type & CAGR (2024-2031)

  • Market Overview
  • Passenger Vehicle
    • Compact
    • Mid-size
    • Luxury SUVs
  • Commercial Vehicle
    • Light Commercial Vehicles (LCV)
    • Heavy Commercial Vehicles (HCV)
  • Electric Vehicle
    • Battery Electric Vehicle (BEV)
    • Plug-in Hybrid Electric Vehicles (PHEV)
    • Fuel Cell Electric Vehicles (FCEV)

Global Automotive Solenoid Market Size by Application & CAGR (2024-2031)

  • Market Overview
  • Engine Control and Cooling System
  • Fuel and Emission Control
  • Safety and Security
  • Body Control and Interiors
  • HVAC (Heating, Ventilation, and Air Conditioning)
  • Other Applications

Global Automotive Solenoid Market Size by Sales Channel & CAGR (2024-2031)

  • Market Overview
  • Original Equipment Manufacturers (OEMs)
  • Aftermarket Sales

Global Automotive Solenoid Market Size & CAGR (2024-2031)

  • North America, (Function, Valve Design, Protocol, Vehicle Type, Application, Sales Channel)
    • US
    • Canada
  • Europe, (Function, Valve Design, Protocol, Vehicle Type, Application, Sales Channel)
    • UK
    • Germany
    • Spain
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific, (Function, Valve Design, Protocol, Vehicle Type, Application, Sales Channel)
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America, (Function, Valve Design, Protocol, Vehicle Type, Application, Sales Channel)
    • Brazil
    • Rest of Latin America
  • Middle East & Africa, (Function, Valve Design, Protocol, Vehicle Type, Application, Sales Channel)
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Competitive Intelligence

  • Top 5 Player Comparison
  • Market Positioning of Key Players, 2023
  • Strategies Adopted by Key Market Players
  • Recent Developments in the Market
  • Company Market Share Analysis, 2023
  • Company Profiles of All Key Players
    • Company Details
    • Product Portfolio Analysis
    • Company's Segmental Share Analysis
    • Revenue Y-O-Y Comparison (2021-2023)

Key Company Profiles

  • Robert Bosch GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Continental AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • BorgWarner Inc. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Hitachi Ltd. (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Johnson Electric Holding Ltd. (Hong Kong)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Mitsubishi Electric Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Global Point Magnetics Asia Co. Ltd (China)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Padmini VNA Mechatronics Pvt Ltd (India)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Infineon Technologies AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Eaton Corporation (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • DENSO Corporation (Japan)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Emerson Electric Co. (USA)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • GKN Automotive Limited (UK)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Kendrion N.V. (Netherlands)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • MAHLE GmbH (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Rheinmetall Automotive (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Schaffler AG (Germany)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Valeo (France)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Schneider Electric (France)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments
  • Bitron Industrie SpA (Italy)
    • Company Overview
    • Business Segment Overview
    • Financial Updates
    • Key Developments

Conclusion & Recommendation

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