Market Research Report
Automotive Solenoid Global Market Report 2022
|Automotive Solenoid Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
“Automotive Solenoid Global Market Report 2022” from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global automotive solenoid market.
This report focuses on automotive solenoid market which is experiencing strong growth. The report gives a guide to the automotive solenoid market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
Where is the largest and fastest growing market for the automotive solenoid? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The Automotive Solenoid market global report” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider automotive solenoid market, and compares it with other markets.
Major players in the automotive solenoid market are: Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric, BorgWarner, Hitachi Ltd, Continental AG, Mahle GmbH, ASCO Valve, Norgren, Danfoss, Delphi Automotive PLC, Denso Corporation, Zf Friedrichshafen Ag, Nidec Corporation, Schaeffler Ag, Rheinmetall Automotive, Hitachi Astemo, Stoneridge Inc, Tlx Technologies, Gideon Automotive Industries, Kendrion, Mzw Motor, Bicolex, Zonhen Electric Appliances, Padmini Vna Mechatronics, and Jaksa.
The global automotive solenoid market is expected to grow from $3.91 billion in 2021 to $4.18 billion in 2022 at a compound annual growth rate (CAGR) of 6.94%. The market is expected to grow to $5.65 billion in 2026 at a CAGR of 7.81%.
The automotive solenoid market consists of sales of automotive solenoids by entities (organizations, sole traders, and partnerships) that are positioned between the engine and ignition module of the vehicle and are one of the responsible components for starting the vehicle. Automotive solenoids operate by receiving small electrical currents from the ignition system and large electrical currents from the battery, which is used to start the engine.
The main functions of automotive solenoid are fluid control, gas control and motion control. The fluid control helps in controlling fluid pressure in vehicles. Fluid solenoid valves are used to control the fluid pressure and for changing the flow inflow in automatic automotive transmissions. They are used for various fluids like oil, fuel, and others. The protocols used in automotive solenoid are direct acting, manual reset and pilot operated. Automotive solenoids are used in passenger cars and commercial vehicles. Automotive solenoids are used in applications such as engine control and cooling system, fuel and emission control, safety and security, body control and interiors, HVAC and other. By valve design, the types of automotive solenoid include 2-way valve, 3-way valve, 4-way valve and 5-way valve.
Asia-Pacific was the largest region in the automotive solenoid market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising automation in vehicles is expected to propel the growth of the automotive solenoid market. Autonomous vehicles are self-driven vehicles, which operate through artificial intelligence. Growing autonomous vehicles and e-mobility provide opportunities to produce innovative automotive solenoids. According to Gerber Injury Law, a law firm, the autonomous vehicles market is growing 16% each year across the world, and it is expected to reach a trillion-dollar by 2025.
Product innovations are a key trend gaining popularity in the automotive solenoid market. Product innovation is the creation or introduction of a new good or launching the improved version of a previous good. For instance, in 2021, Danfoss, a provider of advanced engineering products, developed new EVT solenoid valves for CO2 systems up to 140 bars.
In October 2019, Nidec Corporation, a Japan-based manufacturer and distributor of electric motors, acquired OMRON Automotive Electronics Co Ltd from OMRON Corporation for an undisclosed amount. Nidec Corporation also acquired OMRON's other subsidiaries OMRON COMPONENTES AUTOMOTIVOS LTDA, and OMRON AUTOMOTIVE ELECTRONICS de Mexico, S. de R.L. de C.V. Through these acquisitions, Nidec aims to strengthen its automotive motor business. OMRON Automotive Electronics Co Ltd is a US-based company that manufactures automotive parts such as solenoids.
The countries covered in the Automotive Solenoid market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.