Automotive Solenoid Market - Trends Forecast Till 2028

Automotive Solenoid Market, by Application (Body Control & Interiors, Engine Control & Cooling System, Safety, HVAC), Vehicle Type (PC, LCV, Truck, Bus), EV Type (BEV, PHEV, FCEV), Valve Design, Function, Operation and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Published Date: November, 2021

Base Year Estimate: 2020

Report ID: D-AU-ASM-499

Format:  

Number of Pages: 250

Domain: Automotive

Automotive Solenoid Market – Trends Forecast Till 2028

The global Automotive Solenoid market size is projected to reach USD 6.5 billion by 2026 at a CAGR of 7.4% from USD 4.4 billion in 2021 during the forecast period 2021-2028.

A solenoid is a class of electromagnet which is used to generate a controlled magnetic field when current is flown through it. In automobiles solenoid is used for the purposed of valve deactivation control, suspension control, turbo charger control.

With the recent favourable policies offered by government along with the technical edge provided by solenoids are some of the factors that have supported long-term expansion for Automotive Solenoid Market.

The COVID-19 pandemic is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. With conditions of lockdown across the globe the market has witnessed a fall.

Automotive Solenoid Market Report

Europe is expected to be the largest market during the forecast period. The surge in sales of car along with increased spending on automobiles is responsible for the expansion of the market in the region.

Automotive Solenoid Market is segmented into Application, Level of Autonomy, Vehicle, Propulsion, Component, Service Type and geography.

On the basis of Vehicle Type

  • Passenger vehicle
  • Light commercial vehicle
  • Truck
  • Bus

On the basis of Electrical Vehicle Type

  • BEV
  • PHEV
  • FCEV

On the basis of Application

  • Engine control and cooling system
  • Fuel and Emission Control
  • Safety and Security
  • Body Control and Interiors
  • HVAC
  • Other application

On the basis of Function

  • Fluid Control
  • Gas Control
  • Motion Control

On the basis of Valve Design

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

On the basis of Region

  • Asia Pacific
  • North America
  • Europe
  • South America
  • Middle East & Africa

Insights are provided for each region and major countries within the regions

Automotive Solenoid Market Primary Respondent

 

Key Players

  • Robert Bosch GmbH
  • Hitachi Ltd.
  • Mitsubishi Electric Corporation
  • MAHLE Group
  • Johnson Electric
  • BorgWarner

Recent Developments

  • In October 2020, ZF Friedrichshafen AG completed the acquisition of ZF Sachs Micro Mobility GmbH, which has now become its wholly owned subsidiary and a part of its Industrial Technology Division.
  • In July 2020, BluE Nexus Corporation which is a joint venture of Aisin Seiki Co., Ltd. and DENSO Corporation along with Toyota Motor Corporation announced a collaboration wherein both companies utilize their core competencies to increase their competitiveness in products related to vehicle electrification.

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
  • Gain authentic and granular data access for Automotive Solenoid market so as to understand the trends and the factors involved behind changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope

 

Report Feature

Descriptions

Market Revenue In 2021

USD 4.4 billion

Growth Rate

CAGR of 7.4% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Application, Level of Autonomy, Vehicle, Propulsion, Component, Service Type and geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

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

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, MAHLE Group, Johnson Electric, and BorgWarner

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