Automotive Solenoid Market
PUBLISHED: 2024 ID: SMRC24960
SHARE
SHARE

Automotive Solenoid Market

Automotive Solenoid Market Forecasts to 2030 - Global Analysis By Vehicle Type (Passenger Vehicle, Light Commercial Vehicles, Heavy Commercial Vehicles, Truck, Bus and Other Vehicle Types), Electric Vehicle Type (Battery Electric Vehicles, Plug-In Hybrid Electric Vehicles, Fuel Cell Electric Vehicles and Other Electric Vehicle Types), Function (Fluid Control, Gas Control, Motion Control and Other Functions), Valve Design, Application and by Geography

4.9 (72 reviews)
4.9 (72 reviews)
Published: 2024 ID: SMRC24960

This report covers the impact of COVID-19 on this global market
Loading...

Years Covered

2021-2030

Estimated Year Value (2023)

US $5.14 BN

Projected Year Value (2030)

US $9.57 BN

CAGR (2023 - 2030)

9.3%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Europe


According to Stratistics MRC, the Global Automotive Solenoid Market is accounted for $5.14 billion in 2023 and is expected to reach $9.57 billion by 2030 growing at a CAGR of 9.3% during the forecast period. Automotive solenoids are essential parts of contemporary car systems; they do everything from start the engine to regulate fuel injection, transmission shifts, and emissions systems. These electromagnetic gadgets function as switches, transforming electrical energy into mechanical motion. Moreover, solenoid functions are crucial in the automotive industry because they automate tasks, improve efficiency, and guarantee accurate control over important mechanisms.

According to the International Federation of Automotive Engineering Societies (FISITA), automotive solenoids play a pivotal role in modern vehicle technologies, providing essential functions such as ignition control, transmission shifting, and emissions management.

Market Dynamics: 

Driver: 

Growing hybrid and electric vehicle integration

The demand for automotive solenoids is largely being driven by the growing number of people buying electric and hybrid cars. Solenoids play a crucial role in electric propulsion systems, helping with things like thermal control, battery management, and electric power steering. Additionally, solenoid demand is directly correlated with the growth of the electric vehicle market, highlighting the significance of solenoids in the continuous advancement of automotive propulsion technologies.

Restraint:

The automotive industry's cost sensitivity

The cost-sensitive nature of the automotive industry places restrictions on the automotive solenoid market. Solenoid manufacturers are under pressure to offer cost-effective solutions as manufacturers constantly look for ways to reduce production costs and improve overall affordability. Furthermore, this limitation may affect how sophisticated and high-performing solenoids are integrated, which may restrict their use in particular car models or market niches.

Opportunity:

Expanding use of hybrid and electric vehicles

An important opportunity exists for the automotive solenoid market due to the growing trend toward electric and hybrid vehicles. Solonoids are becoming more and more necessary for applications like electric power steering, battery management, and thermal control because these cars mainly rely on sophisticated electronic systems. Moreover, in order to meet the specific needs of electric and hybrid propulsion systems, solenoid manufacturers can profit from this trend by creating customized solutions.

Threat:

Intense market competition

There is a risk of fierce competition in the automotive solenoid market, with many manufacturers fighting for market share. Solenoid manufacturers may face price pressure and reduced profit margins as a result of increased competition. Additionally, companies must set themselves apart through innovation, quality, and the capacity to offer comprehensive solutions that satisfy the changing demands of automotive OEMs in order to lessen this threat.

Covid-19 Impact: 

The COVID-19 pandemic caused significant disruptions in supply chains, demand, and production, which in turn had an impact on the automotive solenoid market. The demand for solenoids in a variety of applications was impacted by the major decline in global vehicle manufacturing caused by lockdowns, travel restrictions, and economic uncertainty. Furthermore, production was further hampered by supply chain disruptions brought on by factory closures and logistical difficulties, which affected the timely availability of components and raw materials.

The Passenger Vehicle segment is expected to be the largest during the forecast period

In the market, the passenger vehicle segment usually holds the largest share. Sedans, sport utility vehicles (SUVs), and hatchbacks are all included in the broad category of passenger cars, which are very well-liked by people all over the world. For personal transportation needs, families and individual consumers frequently drive the demand for passenger cars. Moreover, the growing urban population, rising disposable income, and ongoing demand for more technologically advanced and fuel-efficient cars are major factors driving this segment's dominance.

The Safety and Security segment is expected to have the highest CAGR during the forecast period

Due to the integration of cutting-edge technologies and the growing emphasis on vehicle safety, the safety and security segment is growing at the highest CAGR. The segment's growth is attributed to consumer preferences for vehicles with cutting-edge safety features, strict regulatory requirements, and rising awareness of road safety. Additionally, adoption of autonomous safety technologies, advanced driver assistance systems (ADAS), and ongoing innovation in collision avoidance systems are important factors.

Region with largest share:

Within the automotive solenoid market, North America is expected to hold the largest share. Technology developments, a well-developed automotive sector, and a notable need for solenoids in a range of automotive applications are all factors contributing to the region's prominence. Furthermore, leading the automotive solenoid market in North America is a result of the region's established presence of important automakers and suppliers as well as its emphasis on implementing cutting-edge technologies.

Region with highest CAGR:

The automotive solenoid market is expected to grow at the highest CAGR in the European region. The automotive sector in the region is distinguished by a strong focus on innovation, strict regulations, and a healthy market for both conventional and electric vehicles. Europe's leading automotive nations—Germany, France, and the United Kingdom, for example—contribute to the market's consistent expansion for solenoids. Moreover, the demand for solenoids in a variety of applications is driven by the region's dedication to sustainability and the growing integration of solenoids in cutting-edge automotive technologies.

Key players in the market

Some of the key players in Automotive Solenoid market include Hitachi Ltd., Denso corporation, Johnson Electric Holding Ltd., Global Point Magnetics Asia Co. Ltd, Mitsubishi Electric Corporation, BorgWarner Inc., Padmini VNA Mechatronics Pvt Ltd, Robert Bosch GmbH, Nidec Corporation and Continental AG.

Key Developments:

In November 2023, Hitachi Systems India Pvt. Ltd., a wholly owned subsidiary of Hitachi Systems announced their agreement with Cyemptive Technologies, Inc., an award-winning provider of preemptive cybersecurity solutions for business and government, to jointly provide Cyemptive Technology’s next-generation cybersecurity innovations, including on-demand, end-to-end secure platform solutions, to Hitachi Systems India’s Southeast Asia/Middle East and India customers.

In September 2023, Mitsubishi Electric Corporation and Evercomm Singapore Pte. Ltd. jointly announced today that they have entered into a cooperative agreement to develop and market solutions that support carbon neutrality in the manufacturing sector. As part of the agreement, Mitsubishi Electric will take an equity stake in Evercomm to solidify the ties between the two companies.
 
In July 2023, DENSO Corporation and Toyota Tsusho Corporation today announced that TD Mobile Corporation, which is a joint venture of DENSO and Toyota Tsusho has concluded a company split agreement with a newly established subsidiary of ranet Co.,Ltd. in relation to its cell phone sales and agency business. TD Mobile will transfer the above business to the new subsidiary as a result of the company split.

Vehicle Types Covered:
• Passenger Vehicle
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Truck
• Bus
• Other Vehicle Types 
 
Electric Vehicle Types Covered:
• Battery Electric Vehicles
• Plug-In Hybrid Electric Vehicles
• Fuel Cell Electric Vehicles
• Other Electric Vehicle Types 

Functions Covered:
• Fluid Control
• Gas Control
• Motion Control
• Other Functions 

Valve Designs Covered:
• 2-way Valve
• 3-way Valve
• 4-way Valve
• 5-way Valve
• Other Valve Designs 

Applications Covered:
• Engine Control and Cooling System
• Fuel and Emission Control
• Safety and Security
• Body Control and Interiors
• HVAC
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary              
               
2 Preface              

 2.1 Abstract             
 2.2 Stake Holders             
 2.3 Research Scope             
 2.4 Research Methodology             
  2.4.1 Data Mining            
  2.4.2 Data Analysis            
  2.4.3 Data Validation            
  2.4.4 Research Approach            
 2.5 Research Sources             
  2.5.1 Primary Research Sources            
  2.5.2 Secondary Research Sources            
  2.5.3 Assumptions            
               
3 Market Trend Analysis              
 3.1 Introduction             
 3.2 Drivers             
 3.3 Restraints             
 3.4 Opportunities             
 3.5 Threats             
 3.6 Application Analysis             
 3.7 Emerging Markets             
 3.8 Impact of Covid-19             
               
4 Porters Five Force Analysis              
 4.1 Bargaining power of suppliers             
 4.2 Bargaining power of buyers             
 4.3 Threat of substitutes             
 4.4 Threat of new entrants             
 4.5 Competitive rivalry             
               
5 Global Automotive Solenoid Market, By Vehicle Type              
 5.1 Introduction             
 5.2 Passenger Vehicle             
 5.3 Light Commercial Vehicles             
 5.4 Heavy Commercial Vehicles             
 5.5 Truck             
 5.6 Bus             
 5.7 Other Vehicle Types             
               
6 Global Automotive Solenoid Market, By Electric Vehicle Type              
 6.1 Introduction             
 6.2 Battery Electric Vehicles             
 6.3 Plug-In Hybrid Electric Vehicles             
 6.4 Fuel Cell Electric Vehicles             
 6.5 Other Electric Vehicle Types             
               
7 Global Automotive Solenoid Market, By Function              
 7.1 Introduction             
 7.2 Fluid Control             
 7.3 Gas Control             
 7.4 Motion Control             
 7.5 Other Functions             
               
8 Global Automotive Solenoid Market, By Valve Design              
 8.1 Introduction             
 8.2 2-way Valve             
 8.3 3-way Valve             
 8.4 4-way Valve             
 8.5 5-way Valve             
 8.6 Other Valve Designs             
               
9 Global Automotive Solenoid Market, By Application              
 9.1 Introduction             
 9.2 Engine Control and Cooling System             
 9.3 Fuel and Emission Control             
 9.4 Safety and Security             
 9.5 Body Control and Interiors             
 9.6 HVAC             
 9.7 Other Applications             
               
10 Global Automotive Solenoid Market, By Geography              
 10.1 Introduction             
 10.2 North America             
  10.2.1 US            
  10.2.2 Canada            
  10.2.3 Mexico            
 10.3 Europe             
  10.3.1 Germany            
  10.3.2 UK            
  10.3.3 Italy            
  10.3.4 France            
  10.3.5 Spain            
  10.3.6 Rest of Europe            
 10.4 Asia Pacific             
  10.4.1 Japan            
  10.4.2 China            
  10.4.3 India            
  10.4.4 Australia            
  10.4.5 New Zealand            
  10.4.6 South Korea            
  10.4.7 Rest of Asia Pacific            
 10.5 South America             
  10.5.1 Argentina            
  10.5.2 Brazil            
  10.5.3 Chile            
  10.5.4 Rest of South America            
 10.6 Middle East & Africa             
  10.6.1 Saudi Arabia            
  10.6.2 UAE            
  10.6.3 Qatar            
  10.6.4 South Africa            
  10.6.5 Rest of Middle East & Africa            
               
11 Key Developments              
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures             
 11.2 Acquisitions & Mergers             
 11.3 New Product Launch             
 11.4 Expansions             
 11.5 Other Key Strategies             
               
12 Company Profiling              
 12.1 Hitachi Ltd.             
 12.2 Denso corporation             
 12.3 Johnson Electric Holding Ltd.             
 12.4 Global Point Magnetics Asia Co. Ltd             
 12.5 Mitsubishi Electric Corporation             
 12.6 BorgWarner Inc.             
 12.7 Padmini VNA Mechatronics Pvt Ltd             
 12.8 Robert Bosch GmbH             
 12.9 Nidec Corporation             
 12.10 Continental AG             
               
List of Tables               
1 Global Automotive Solenoid Market Outlook, By Region (2021-2030) ($MN)              
2 Global Automotive Solenoid Market Outlook, By Vehicle Type (2021-2030) ($MN)              
3 Global Automotive Solenoid Market Outlook, By Passenger Vehicle (2021-2030) ($MN)              
4 Global Automotive Solenoid Market Outlook, By Light Commercial Vehicles (2021-2030) ($MN)              
5 Global Automotive Solenoid Market Outlook, By Heavy Commercial Vehicles (2021-2030) ($MN)              
6 Global Automotive Solenoid Market Outlook, By Truck (2021-2030) ($MN)              
7 Global Automotive Solenoid Market Outlook, By Bus (2021-2030) ($MN)              
8 Global Automotive Solenoid Market Outlook, By Other Vehicle Types (2021-2030) ($MN)              
9 Global Automotive Solenoid Market Outlook, By Electric Vehicle Type (2021-2030) ($MN)              
10 Global Automotive Solenoid Market Outlook, By Battery Electric Vehicles (2021-2030) ($MN)              
11 Global Automotive Solenoid Market Outlook, By Plug-In Hybrid Electric Vehicles (2021-2030) ($MN)              
12 Global Automotive Solenoid Market Outlook, By Fuel Cell Electric Vehicles (2021-2030) ($MN)              
13 Global Automotive Solenoid Market Outlook, By Other Electric Vehicle Types (2021-2030) ($MN)              
14 Global Automotive Solenoid Market Outlook, By Function (2021-2030) ($MN)              
15 Global Automotive Solenoid Market Outlook, By Fluid Control (2021-2030) ($MN)              
16 Global Automotive Solenoid Market Outlook, By Gas Control (2021-2030) ($MN)              
17 Global Automotive Solenoid Market Outlook, By Motion Control (2021-2030) ($MN)              
18 Global Automotive Solenoid Market Outlook, By Other Functions (2021-2030) ($MN)              
19 Global Automotive Solenoid Market Outlook, By Valve Design (2021-2030) ($MN)              
20 Global Automotive Solenoid Market Outlook, By 2-way Valve (2021-2030) ($MN)              
21 Global Automotive Solenoid Market Outlook, By 3-way Valve (2021-2030) ($MN)              
22 Global Automotive Solenoid Market Outlook, By 4-way Valve (2021-2030) ($MN)              
23 Global Automotive Solenoid Market Outlook, By 5-way Valve (2021-2030) ($MN)              
24 Global Automotive Solenoid Market Outlook, By Other Valve Designs (2021-2030) ($MN)              
25 Global Automotive Solenoid Market Outlook, By Application (2021-2030) ($MN)              
26 Global Automotive Solenoid Market Outlook, By Engine Control and Cooling System (2021-2030) ($MN)              
27 Global Automotive Solenoid Market Outlook, By Fuel and Emission Control (2021-2030) ($MN)              
28 Global Automotive Solenoid Market Outlook, By Safety and Security (2021-2030) ($MN)              
29 Global Automotive Solenoid Market Outlook, By Body Control and Interiors (2021-2030) ($MN)              
30 Global Automotive Solenoid Market Outlook, By HVAC (2021-2030) ($MN)              
31 Global Automotive Solenoid Market Outlook, By Other Applications (2021-2030) ($MN)              
               
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.               

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials