|01-14-2019 02:20 PM CET - Logistics & Transport||
Automotive Solenoid Market Projected to Witness Vigorous Expansion by 2017- 2027
Press release from: Future Market Insights
A Solenoid is a coil of wire wound around a metal core. In a world where Automation is gaining importance in our day-to-day lives at a fast pace, Solenoids help us achieve ‘Automation’ in different applications. When we give electric current at one end of the solenoid, it generates a magnetic field and this magnetic field can control things like air pressure, locks or water pressure. Automotive Solenoids find applications in different sectors like the Automobile industry, Medical Systems or Lock mechanisms, to name a few. The most popular application of Automotive Solenoids is on the devices like Joystick used for the purpose of games. Automotive Solenoid market is expected to grow at a moderate CAGR in 2017
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Automotive Solenoid Market: Drivers and Restraints
As the demand for automation is increasing, so should the production of Automotive Solenoids. Laws for fuel-efficient vehicles are being brought into action by different countries. This may drive the growth of Automotive Solenoid Market. Earlier machines had big engines. But as the size of engines is decreasing (a concept popularly known as ‘Engine Downsizing Trend’), the demand for Automotive Solenoids is increasing. The fuel and emission control application market in the Automotive Solenoid Market is expected to grow at the significantly high pace.
Use of Automotive Solenoids may be restrained in diesel passenger cars because of their low popularity globally. The dominance of Continental AG in Automotive Solenoid OE market, as well as aftermarket, may affect other key players of the Automotive Solenoid Market.
Automotive Solenoid Market: Market Segmentation
Automotive Solenoid Market is segmented by Vehicle type, Electric Vehicle type, Application, Function, Valve Design and Region.
Based on Vehicle Type,Automotive Solenoid Market is segmented into:-
Light commercial vehicle
Heavy commercial vehicle
Based on Electric Vehicle Type, Automotive Solenoid Market is segmented into:-
Based on Application,Automotive Solenoid Market is segmented into:-
Engine control & cooling system
Fuel & Emission Control
Safety and Security
Body Control & Interiors
Based on Function,Automotive Solenoid Market is segmented into:-
Based on Valve Design, Automotive Solenoid Market is segmented into:-
Based on Region,Automotive Solenoid Market is segmented into:-
Automotive Solenoid Market: Regional Overview
Asia Pacific market is the leading automotive solenoid market, in terms of value. This is because major Automotive Solenoid producing companies lie in the Asia Pacific region, more specifically countries like Korea, Japan, China and India.
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Automotive Solenoid Market: Key players
Few of the major players of Automotive Solenoid Market identified are:-
Robert Bosch GmbH (Germany)
Padmini VNA Mechatronics Pvt Ltd (India)
Hitachi Ltd. (Japan)
Mitsubishi Electric Corporation (Japan)
Nidec Corporation (Japan)
Continental AG (Germany)
Global Point Magnetics Asia Co. Ltd. (China)
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
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This release was published on openPR.
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