Automotive Solenoid Market By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle); Function (Fluid Control, Gas Control, and Motion Control); Valve Design (2-Way Valve, 3-Way Valve, 4-Way Valve, and 5-Way Valve): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026570 | Pages: 100 | Industry: Automotive and Transportation | Date: Oct 2022 | Type: Global

The market crossed US$ 4.6 billion mark in 2022 and is expected to hit US$ 7.0 billion by 2030, recording a CAGR of 5.3% during the forecast period.

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Surging demand for Rise in demand for advanced automation systems

The automobile sector has undergone a change thanks to rising automation and digitalization. Previously, automakers produced mechanical actuators that could only be used for manually operated tasks like winding windows up and down and adjusting seats. The market for solenoids, sometimes referred to as electromechanical actuators, will grow as there is a rising demand for high fuel efficiency and sophisticated automated applications. For lifting, tilting, adjusting, placing, retracting, extracting, controlling, opening, and closing all automated applications, trucks and other heavy-duty vehicles frequently employ solenoids..

The Automotive Solenoid Market is experiencing a rise in Fluid control

Fluid control solenoids are essential for controlling fluid flow or activating pumps to create the pressure needed for various applications, including braking and steering. In addition, the market for motion control is anticipated to grow as electric car use rises.

Wide array of applications employing the use of solenoids is one of the Major Factors Accelerating Automotive Solenoid Market growth.

In several areas, modern autos use solderoids to increase performance and efficiency. Following are some of the key applications:

Door locks and a solenoid for the trunk Functions of the starter solenoid, automatic gearbox, dual clutch transmission, turbocharger, variable valve timing, evaporative emission control system, fuel ignition coils, and engine fuel shut off valve. HVAC system, ABS, and air suspension system.

Recent strategic developments in the Automotive Solenoid Market

The Automotive Solenoid market has undergone several significant developments, and a few of these have been mentioned below:

  • In October 2020, ZF Friedrichshafen AG completely acquired ZF Sachs Micro Mobility GmbH, which has become its wholly owned subsidiary and a part of its Industrial Technology Division. The previous shareholders, BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG, transferred their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH manufactures traction motors and related products for micro-mobility (e-bikes & bicycles)..
  • In July 2020, BluE Nexus Corporation (a joint venture between Aisin Seiki Co., Ltd. and DENSO Corporation) and Toyota Motor Corporation announced a collaboration wherein both companies utilize their core competencies to increase their competitiveness in products related to vehicle electrification..

Several players drive the Automotive Solenoid market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BorgWarner Inc.; Emerson Electric Co; GKN Sinter Metals Engineering GmbH; Hitachi Automotive Systems, Ltd.; Jaksa d.o.o.; Johnson Electric Holdings Limited; Mitsubishi Electric Corporation; NIDEC TOSOK CORPORATION; Robert Bosch GmbH;  Stoneridge Inc. are among the prominent players operating in the Automotive Solenoid Market.

The target audience for the report:

  • Raw material providers
  • Automotive Solenoid Manufacturers
  • Automotive Solenoid service providers
  • Lawn Mowe-related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Automotive Solenoid component suppliers
  • Automotive Solenoid and components distributors and sales firms
  • End users of Electric Vehicle
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the Automotive Solenoid market has been segmented based on:

  • By Vehicle Type:
  • Passenger Vehicle
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle.
  • By Function :
  • Fluid Control
  • Gas Control
  • Motion Control.
  • By Valve Design :
  • 2-Way Valve
  • 3-Way Valve
  •  4-Way Valve
  •  5-Way Valve
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    •  BorgWarner Inc.
    •  Emerson Electric Co
    •  GKN Sinter Metals Engineering GmbH
    •  Hitachi Automotive Systems, Ltd.
    •  Jaksa d.o.o.
    •  Johnson Electric Holdings Limited
    •  Mitsubishi Electric Corporation
    •  Robert Bosch GmbH
    •  Stoneridge Inc..

The List of Companies
- BorgWarner Inc.
- Emerson Electric Co
- GKN Sinter Metals Engineering GmbH
- Hitachi Automotive Systems, Ltd.
- Jaksa d.o.o.
- Johnson Electric Holdings Limited
- Mitsubishi Electric Corporation
- Robert Bosch GmbH
- Stoneridge Inc..

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