The automotive solenoid market size is expected to see strong growth in the next few years. It will grow to $7.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to electrification of vehicles, autonomous vehicle development, stringent government regulations, expansion of the connected car ecosystem, rising disposable income. Major trends in the forecast period include miniaturization and integration, energy-efficient solenoids, 3d printing and advanced materials, strategic partnerships.
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Segmentation & Regional Insights
The automotive solenoid market covered in this report is segmented –
1) By Function: Fluid Control, Gas Control, Motion Control
2) By Protocol: Direct Acting, Manual Reset, Pilot Operated
3) By Valve Design: 2-Way Valve, 3-Way Valve, 4-Way Valve, 5-Way Valve
4) By Vehicle Type: Passenger Cars, Commercial Vehicles
5) By Application: Engine Control and Cooling System, Fuel and Emission Control, Safety and Security, Body Control and Interiors, HVAC, Other Applications
Asia-Pacific was the largest region in the automotive solenoid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive solenoid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the automotive solenoid market include Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, BorgWarner Inc., Hitachi Ltd., Continental AG, Mahle GmbH, ASCO Valve Inc., Norgren Inc., Danfoss A/S, Delphi Technologies plc, Denso Corporation, ZF Friedrichshafen AG, Nidec Corporation, Schaeffler AG, Rheinmetall Automotive AG, Stoneridge Inc., TLX Technologies LLC, Gideon Automotive Industries Ltd., Kendrion N.V., MZW Motor GmbH, Bicolex Enterprises Ltd., Zonhen Electric Appliances Co. Ltd., Padmini VNA Mechatronics Pvt. Ltd., Jaksa d.o.o., Global Point Magnetics Asia Co. Ltd., Endicott Coil Company Inc., Able Coil & Electronics Co. Inc., Hybrid Electronics Corp., Jewell Instruments LLC, Datatronics Inc., Plast-O-Matic Valves Inc., Magnatrol Valve Corp., Texas Industrial Remcor Inc., Electricsolenoidvalves.com, American Precision Supply Inc., Liberty Industries Inc., Infineon Technologies AG
The automotive solenoid market report table of contents includes:
1. Executive Summary
2. Automotive Solenoid Market Characteristics
3. Automotive Solenoid Market Trends And Strategies
4. Automotive Solenoid Market – Macro Economic Scenario
5. Global Automotive Solenoid Market Size and Growth
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31. Global Automotive Solenoid Market Competitive Benchmarking
32. Global Automotive Solenoid Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Solenoid Market
34. Automotive Solenoid Market Future Outlook and Potential Analysis
35. Appendix
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