Global Automotive Solenoid Market Size By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles), By, By Application (Body Control And Interiors, HVAC), By Valve Design (2 Way Valve, 3 Way Valve), By Geographic Scope And Forecast

Automotive Solenoid Market Size And Forecast

Automotive Solenoid Market size was valued at USD 4.0 Billion in 2021 and is projected to reach USD 6.5 Billion by 2030, growing at a CAGR of 6.3% from 2022 to 2030.

Solenoids? Yeah, they're pretty key for keeping things running smoothly. Take the one in your steering wheel – it kicks in when your car goes into self-driving mode. And features like that? They're probably going to help the Global Automotive Solenoid Market get even bigger in the next few years. All this automation and digitalization is really shaking things up in the car world. It used to be all about simple actuators that just did things like roll windows up and down or adjust seats. But if you really want to dig into what's going on, the Global Automotive Solenoid Market report's got you covered. It gives you the full picture, breaking down all the important parts, trends, what's helping and hurting the market, who's competing, and all the other stuff that really matters.

Global Automotive Solenoid Market Definition

Okay, so in your car, the solenoid acts like the starter solenoid. Usually, you'll find it right on top of the starter motor. It's a bit of a power broker, really. It grabs a whole lot of juice straight from the car battery, and just a tiny bit from the ignition switch. That small current acts like a signal, telling the solenoid to unleash all that battery power to the starting engine, which then gets everything moving! Now, the Global Automotive Solenoid Market offers a bunch of different solenoids. They all have their own special properties, materials, and jobs, but they all rely on the same basic electrical system to work.

Major application of the solenoid is that it is used to control the valve electrically, for example, the solenoid core is used to apply mechanical power to the valve. Increased demand for high fuel efficiency and advanced automation applications will improve the market for solenoids, also known as electromechanical actuators. Solenoids are widely used in trucks and heavy vehicles, lifting, tilting, adjusting, placing, undoing, pulling, controlling, opening, and closing all automated applications.

Global Automotive Solenoid Market Overview

Increasing demand for advanced flexible systems, which provide higher fuel efficiency and lower engine efficiency without affecting engine efficiency further drives the market to faster development. Increased demand for energy efficiency and fuel efficiency make these solenoids even more important in the global automotive industry, leading to significant market growth. The Major Restraints are Fluctuations in Global Automobile Industry, High Investment, and a decrease in vehicle Production in the last few years.

The Global automotive industry is seeing a decline worldwide. Opportunities in this Market is the friction loss. It is caused by changing gears decreases, and they quickly accommodate the required torque in the new gear, which in turn increases the time it takes for the torque to stabilize with the new gear. This has also improved the efficiency of car fuel and eliminated any human error as much of the work while shifting gears is controlled by sensors, solenoids, and computers.

Global Automotive Solenoid MarketSegmentation Analysis

The Global Automotive Solenoid Market is Segmented on the basis of Vehicle Type, Application, Valve Design, and Geography.

Automotive Solenoid Market, By Vehicle Type

• Passenger Vehicles• Light Commercial Vehicles• Heavy Commercial Vehicles

Based on Vehicle Type, the market is segmented into Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles. Heavy Commercial Vehicle is more dominating as heavy relay drivers are used in this also there is high demand for Supplying for goods.

Automotive Solenoid Market, By Application

• Engine Control & Cooling System• Fuel & Emission Control• Safety and Security• Body Control & Interiors• HVAC• Others

Based on Application, the market is segmented into Engine Control & Cooling System, Fuel & Emission Control, Safety and Security, Body Control & Interiors, HVAC, and Others. HVAC is more dominating because of Increasing consumer preferences in new advanced transmission systems, such as AMT, DCT, and CVT which comes under HVAC, it provides advanced driving information with better control and acceleration of the vehicle. This is because in electric systems they enable real-time torque control with each gearshift.

Automotive Solenoid Market, By Valve Design

• 2 Way Valve• 3 Way Valve• 4 Way Valve• 5 Way Valve

Based on Valve Design, the market is segmented into 2 Way Valve, 3 Way Valve, 4 Way Valve, and 5 Way Valve. Most dominating is 5 Way Solenoid Valves are usually supplied with two coils. They remain a type of spool valve and have 5 holes and 3 locations. The two positions perform the same function as those found in the 2-Way solenoid valve type.

Automotive Solenoid Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Okay, so when we look at the Global Automotive Solenoid Market by region, we're talking about North America, Europe, Asia Pacific, and, well, everywhere else. Asia Pacific is really making bank by growing its business within the global automotive world. All that investment going into America is seriously helping the market there too. Right now, companies are putting their energy into making their offerings even better, showing how much they're involved globally. But Asia-Pacific? They're expected to be a huge driver for the Global Automotive Solenoid Markets, mostly because there's just such high demand there, leading to some pretty cool, rapid, technological advances.

Key Players

The “Global Automotive Solenoid Market” study report will provide valuable insight with an emphasis on the global market. The Major players in this Market are Mitsubishi Electric Corporation, Continental AG, Johnson Electric Holding Ltd., BorgWarner Inc., Delphi Automotive PLC, Padmini VNA, Mechatronics Pvt Ltd, Global Point Magnetics Asia Co. Ltd, Nidec Corporation, Hitachi Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In October 2020, ZF Friedrichshafen AG completely acquired ZF Sachs Micro Mobility GmbH, which has become a fully owned company and part of the Industrial Technology Division. Former shareholders, BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG, have transferred their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH manufactures traction motors and related slow-moving products (e-bikes and bicycles).

• In July 2020, BluE Nexus Corporation (a joint venture between Aisin Seiki Co., Ltd., and DENSO Corporation) and Toyota Motor Corporation announced a partnership where both companies used their key capabilities to increase their competitiveness in products related to Global automotive electrical installation. . The partnership will utilize Toyota’s proportional control technology on engines, batteries, and other major border components as well as the advanced BluE Nexus system for power steering modules. Toyota has announced that it will provide investment in new and improved products by taking a 10% stake in BluE Nexus.

• In January 2019, Robert Bosch GmbH (Bosch) announced the full acquisition of EM-motive GmbH which was established as a joint venture of the Fifty-Five in 2011 between Bosch and Daimler. At the time of acquisition, EM-motive GmbH had produced approximately 450,000 electric motors installed in the electric vehicles of companies such as Daimler, Porsche, Fiat, Volvo, Peugeot, etc.

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