Automotive Solenoid Market

Automotive Solenoid Market was valued at USD 4,256 Million in 2020 and is forecast to witness a 7.8% CAGR during the forecast period, owing to the rising per-capita income and accelerating sales of fuel-effective automotives.

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Key Drivers and Emerging Trends

Increasing application of solenoids across various end-use industries such as automobiles, medical systems and lock mechanisms stands to be a major factor driving the automotive solenoid market. Rising adoption of electric vehicles and intensified initiatives by the government and leading OEMs are projected to augment the market size. Further, the ability of solenoids to increase the production rate makes it suitable to carry out various electronic functions, thus, fueling the market growth. With the growing trend of engine downsizing, owing to the advancements in the automobiles, the use of solenoids in automotive transmission has increases, which is forecast to expand the market growth. However, various problems impacting the performance of the solenoid valves, such as part closure of valves, valves not opening properly, valves making erratic sounds, and coil problems might hamper the Automotive Solenoid Market Size.

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Application – Segment Analysis

Safety segment is expected to dominate the automotive solenoid market over the upcoming years, owing to their growing use in cars for safety purposes. The ability of solenoid to improve the control performance to reduce the paddle brake vibration and offer anti-locking braking system, will drive the segment’s growth. Besides, the growing use of automotive solenoid in several end-use applications such as steering locking systems, automatic door locks, and motor starters, will further expand the segment’s growth. For instance, TLX Technologies provides a customized latching solenoid that makes use of residual magnetism rather than a permanent magnet.

Vehicle Type – Segment Analysis

BEV segment is projected to hold a larger share over the upcoming years, owing to the rising government initiatives to encourage the adoption of environment-friendly vehicles. Moreover, strict carbon emission norms have persuaded producers to produce fuel-efficient vehicles, which has augmented the demand for automotive valves, fueling the segment’s growth.

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Regional – Segment Analysis

Asia Pacific is estimated to lead the market over the forecast period, owing to the presence of various leading automobile solenoid producers such as Aira Euro Automation and Mitsubishi Electricals, across India, China, South Korea, and Japan. On the other hand, Europe is estimated to expand the at a faster CAGR over the upcoming years, because of the increasing emphasis on research and development by leading firms including BMW, Continental, and Daimler. Moreover, as per the Automotive Solenoid Market Analysis, high sales of premium sales because of the increasing purchasing power of European buyers will expand the regional market.

Top Market Players:

Various notable players operating in the market includes Magnatrol Valve Corporation, Solenoid Solutions Inc., International Polymer Solutions, Burkert Fluid Control System, Global Point Magnetics Asia Co. Ltd., Robert Bosch GmbH, Delphi Automotive PLC, Mitsubishi Electronics Corporation, Johnson Electric, TLX Technologies, and among others.

Key Development

• • In 2020, ZF Friedrichshafen AG acquired ZF Sachs Micro Mobility GmbH, thus making it wholly owned subsidiary and a part of its Industrial Technology Division. The previous shareholders, including BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG, passed on their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH manufactures traction motors and related products for micro-mobility (e-bikes & bicycles).
  • In 2020, BluE Nexus Corporation entered into a collaboration where companies use their main skills to improve their competitiveness in products associated with vehicle electrification. The collaboration will use Toyota’s control calibration technologies for batteries, engines, and other major peripheral components and BluE Nexus’s well-developed lineup of electric drive modules.
  • In 2019, Robert Bosch GmbH (Bosch) acquired EM-motive GmbH established as a fifty-fifty joint venture in 2011 between Bosch and Daimler. The acquisition is intended to support EM-motive GmbH produce nearly 450,000 electric motors \ installed in electric vehicles of companies like Daimler, Porsche, Fiat, Volvo, Peugeot, etc.

Segments covered in the Report:

The Automotive Solenoid Market has been segmented based on Application, Vehicle Type and region. Based on Application, the market is segmented into Body Control & Interiors, Engine Control & Cooling System, Safety, HVAC. Based on Vehicle Type, market is segmented into BEV, PHEV, FCEV, Truck, Bus.

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Key questions answered in this research report:

• • At what pace is global automotive solenoid market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in automotive solenoid market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive solenoid market?
  • Which application generated maximum revenues in 2020 and identify the most promising application during the forecast period?
  • What is the various vehicle type of global automotive solenoid Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Automotive Solenoid Market by Application

• • Body Control & Interiors
  • Engine Control & Cooling System
  • Safety
  • HVAC

Global Automotive Solenoid Market by Vehicle Type

• • BEV
  • PHEV
  • FCEV
  • Truck
  • Bus

Global Automotive Solenoid Market by Region

• • North America Automotive Solenoid Market (Option 1: As a part of the free 25% customization)
    • By Application
    • By Vehicle Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Automotive Solenoid Market (Option 2: As a part of the free 25% customization)
    • By Application
    • By Vehicle Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Automotive Solenoid Market (Option 3: As a part of the free 25% customization)
    • By Application
    • By Vehicle Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Automotive Solenoid Market (Option 4: As a part of the free 25% customization)
    • By Application
    • By Vehicle Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Automotive Solenoid market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Magnatrol Valve Corporation
  • Solenoid Solutions Inc.
  • International Polymer Solutions
  • Burkert Fluid Control System
  • Global Point Magnetics Asia Co. Ltd.
  • Robert Bosch GmbH
  • Delphi Automotive PLC
  • Mitsubishi Electronics Corporation
  • Johnson Electric
  • TLX Technologies