Automotive Solenoid Market to Record an Exponential CAGR by 2022-2031 | Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, Continental AG

New York, According to a new market research report published by Global Insight Services Automotive Solenoid Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

An automotive solenoid is an electrically-operated device that is used to control the flow of fluid within a system. Solenoids are commonly used in automotive applications to control valves' movement or actuate other mechanical components. When a solenoid is energized, it creates a magnetic field that can be used to open or close a valve, or to move a mechanical component.

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Key Trends

One of the key trends in Automotive Solenoid technology is the development of solenoids that can operate at higher temperatures. This is important because it allows for the solenoid to be used in a wider range of applications, including in high-temperature environments. Another trend is the development of solenoids that are more resistant to corrosion. This is important because it increases the lifespan of the solenoid and allows it to be used in more corrosive environments.

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Key Drivers

The automotive solenoid market is driven by the increasing demand for vehicles equipped with automatic transmission systems. The automatic transmission system uses a torque converter and planetary gear set, which requires the use of a solenoid to engage the clutches. The automotive solenoid market is also driven by the increasing demand for vehicles with start-stop functionality. Start-stop functionality helps to improve fuel efficiency by shutting off the engine when the vehicle is idling. The automotive solenoid market is also driven by the increasing demand for electric vehicles. Electric vehicles use solenoids to control the flow of electric current to the motor.

Restraints & Challenges

The key restraints and challenges in the Automotive Solenoid market are the high costs associated with the production of automotive solenoids and the need for specialized expertise for their manufacture. Additionally, the market is also hindered by the lack of standardization in the automotive solenoid industry, which makes it difficult for manufacturers to produce solenoids that are compatible with all vehicle models.

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Key Market Segments

By Vehicle Type

Passenger Vehicle
LCV
HCV
Electric Vehicle

Key Companies

Top key players in Automotive Solenoid Market are Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, Continental AG, Johnson Electric Holding Ltd., BorgWarner Inc., Padmini VNA Mechatronics Pvt Ltd, Global Point Magnetics Asia Co. Ltd, Nidec Corporation, and Denso Corporation

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Reasons to buy Automotive Solenoid Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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