The automotive solenoid market was estimated to be USD 4.3 billion in 2021 and is projected to reach USD 6.2 billion by 2026, with a CAGR of 7.3%. The growth of this market is fuelled by rising automation in vehicles and increased vehicle manufacturing in emerging economies due to urbanization. The fact that solenoids are used in various automotive systems and features in every vehicle is expected to drive the market during the forecast.
However, the COVID-19 pandemic had an impact on the market in the first few months. Both the demand and supply of solenoids had come to a halt in the first few months of 2020 across the globe as the whole ecosystem had been disrupted. However, in the next two quarters, the demand had been increasing.
The safety and security applications market in automotive solenoid market to be the fastest-growing market
Solenoids are used in safety and security applications as well. The ESC system can improve the control performance of a vehicle, as it minimizes noise and brake paddle vibration during the transient high-frequency brake-pressure control process. Simple switching solenoid valves and a master cylinder pressure (MCP) sensor are used in the ESC to minimize cost. Solenoids are also used in ABS.
Asia pacific market plays very important role in automotive solenoid's market growth
Asia Pacific is expected to have the largest market share in terms of value and volume as the region is home to leading automotive component suppliers such as Denso, Nidec Corporation, and Mitsubishi, among others. Moreover, countries such as China, Japan, South Korea, and India are considered major automotive manufacturing hubs, which is further expected to boost the Asia Pacific automotive solenoid market. China is estimated to dominate the Asia Pacific automotive solenoid market with the largest market share during the forecast period. China is the world's largest vehicle manufacturer, which is expected to be a driving factor for the growth of the automotive solenoids market in the country.
Moreover, China has the potential to produce automotive components in large volumes at a lower cost, which provides it a competitive edge over other countries.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in Global Automotive Solenoid Market 4.2 Region-Wise Share of Global Automotive Solenoid Market 4.3 Automotive Solenoid Market, by Vehicle Type 4.4 Automotive Solenoid Market, by Electric Vehicle Type 4.5 Automotive Solenoid Market, by Application 4.6 Automotive Solenoid Market, by Function
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.2 Growing Trend of Engine Downsizing to Boost Use of Solenoids 5.2.1.3 Increasing Government Regulations for Fuel-Efficient Vehicles 5.2.1.4 Significant Effectiveness of Solenoid Valves Over Other Valves 5.2.2 Restraints 5.2.2.1 Low Preference for Diesel Passenger Cars 5.2.2.2 Decrease in Vehicle Production in Last Few Years 5.2.3 Opportunities 5.2.3.1 Wide Array of Applications Employing Solenoids 5.2.3.2 Increasing Trend of Electric Vehicles to Uplift Demand for Automotive Valves in Long Term 5.2.4 Challenges 5.2.4.1 Technical Problems Associated with Solenoid Valves 5.2.5 Impact of Market Dynamics 5.3 Porter's Five Forces 5.3.1 Intensity of Competitive Rivalry 5.3.2 Threat of Substitutes 5.3.3 Bargaining Power of Buyers 5.3.4 Bargaining Power of Suppliers 5.3.5 Threat of New Entrants 5.4 Automotive Solenoid Market Ecosystem 5.5 Technology Analysis 5.5.1 Smart Actuators 5.5.2 Mems 5.6 Patent Analysis 5.7 Pricing Analysis 5.8 Value Chain Analysis 5.9 Case Study 5.10 COVID-19 Health Assessment 5.11 COVID-19 Economic Assessment 5.12 Automotive Solenoid Market: COVID-19 Impact 5.13 Automotive Solenoid Market, Scenarios (2021-2026) 5.14 Automotive Solenoid Market: Trends/Disruptions Impacting Buyers
7 Automotive Solenoid Market, by Application 7.1 Introduction 7.2 Automotive Solenoid Market, by Application 7.2.1 Operational Data 7.2.2 Assumptions 7.2.3 Research Methodology 7.3 Engine Control and Cooling System 7.3.1 Advancements Such as Downsizing and Turbocharging in Ic Engines to Boost Segmental Growth 7.4 Fuel and Emission Control 7.4.1 Growing Emphasis on Fuel-Efficient Vehicles to Drive Demand for Solenoids for Fuel & Emission Control 7.5 Body Control and Interiors 7.5.1 Rising Vehicle Production with Modern Body Control Functions to Drive Segmental Growth 7.6 HVAC System 7.6.1 Advancements in HVAC Systems for Better Cabin Comfort Drive Segmental Growth 7.7 Safety and Security 7.7.1 Increasing Number of Safety Features in Automobiles to Drive Segmental Growth 7.8 Others 7.9 Key Primary Insights
8 Automotive Solenoid Market, by Function 8.1 Introduction 8.2 Global Automotive Solenoid Market, by Function 8.2.1 Operational Data 8.2.2 Assumptions 8.2.3 Research Methodology 8.3 Fluid Control 8.3.1 Growing Demand for Fuel-Efficient Vehicles to Boost Market Growth 8.4 Gas Control 8.4.1 High Penetration of HVAC Systems and Growing Emission Norms to Support Segmental Growth 8.5 Motion Control 8.5.1 Increasing Body Control Functions in Modern Vehicles to Boost Segmental Growth 8.6 Key Primary Insights
9 Automotive Solenoid Market, by Vehicle Type 9.1 Introduction 9.1.1 Operational Data 9.1.2 Assumptions 9.1.3 Research Methodology 9.2 Passenger Car 9.2.1 Growing Trend of Automatic Transmission Systems and Advancements in Body Control & Interiors to Drive Market 9.3 LCV 9.3.1 Increasing Demand for Lcv in Last-Mile Delivery to Drive Segmental Growth 9.4 Truck 9.4.1 High Prominence in Road Transport to Drive Demand for Truck Solenoids 9.5 Bus 9.5.1 Rapidly Growing Prevalence of Electric Buses May Hamper Segmental Growth of Ice Buses 9.6 Key Primary Insights
10 Automotive Solenoid Market, by Electric Vehicle Type 10.1 Introduction 10.2 Global Automotive Solenoid Market, by Electric Vehicle Type 10.2.1 Operational Data 10.2.2 Assumptions 10.2.3 Research Methodology 10.3 Bev 10.3.1 Increase in Vehicle Driving Range Per Charge Expected to Boost Demand 10.4 Phev 10.4.1 Significant Acceptance of Phevs in Passenger Cars to Support Segmental Growth 10.5 Fcev 10.5.1 Lucrative Incentives on Fcev to Support Segmental Growth 10.6 Key Primary Insights
11 Automotive Solenoid Market, by Operation 11.1 Introduction 11.2 Direct Operated 11.3 Indirect (Pilot) Operated 11.4 Semi-Direct Operated
12 Automotive Solenoid Market, by Region
13 Competitive Landscape
14 Company Profiles 14.1 Key Players 14.1.1 Borgwarner Inc. 14.1.2 Robert Bosch 14.1.3 Denso Corporation 14.1.4 Zf Friedrichshafen Ag 14.1.5 Mahle GmbH 14.1.6 Nidec Corporation 14.1.7 Johnson Electric Holdings Limited 14.1.8 Schaeffler Ag 14.1.9 Rheinmetall Automotive 14.1.10 Hitachi Astemo 14.2 Other Key Players 14.2.1 Stoneridge Inc 14.2.2 Gkn Group 14.2.3 Mitsubishi Electric Corporation 14.2.4 Tlx Technologies 14.2.5 Rotex Automation 14.2.6 Gideon Automotive Industries 14.2.7 Solenoid Systems 14.2.8 Kendrion 14.2.9 Mzw Motor 14.2.10 Bicolex 14.2.11 Zonhen Electric Appliances 14.2.12 Padmini Vna Mechatronics 14.2.13 Jaksa 14.2.14 Emerson Electric
