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Automotive Solenoid Market Report By Trends, Analysis And Global Outlook 2032 | Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric, BorgWarner, Hitachi Ltd.
Automotive Solenoid Market Growth
The Business Research Company's Automotive Solenoid Global Market Report 2023 identifies the rising automation in vehicles as the major driver for the Automotive Solenoid market's growth in the forecast period. Autonomous vehicles are self-driven vehicles, which operate through artificial intelligence. Growing autonomous vehicles and e-mobility provide opportunities to produce innovative automotive solenoids.
The global automotive solenoid market size grew from $4.25 billion in 2022 to $4.65 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive solenoid market size is expected to grow to $6.65 billion in 2027 at a CAGR of 9.4%.
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Major competitors 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.
A key trend in the Automotive Solenoid market includes Product innovations. 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.
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The Automotive Solenoid market is segmented -
By Function: Fluid Control, Gas Control, Motion Control
By Protocol: Direct Acting, Manual Reset, Pilot Operated
By Vehicle Type: Passenger Cars, Commercial Vehicles
By Application: Engine Control and Cooling System, Fuel and Emission Control, Safety and Security, Body Control and Interiors, HVAC, Other Applications
By Valve Design: 2-Way Valve, 3-Way Valve, 4-Way Valve, 5-Way Valve
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Solenoid market.
The Business Research Company's "Global Automotive Solenoid Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Solenoid Market Include:
1. Executive Summary
2. Automotive Solenoid Market Characteristics
3. Automotive Solenoid Market Trends And Strategies
4. Automotive Solenoid Market - Macro Economic Scenario
5. Automotive Solenoid Market Size And Growth
……
26. Africa Automotive Solenoid Market
27. Automotive Solenoid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Solenoid Market
29. Automotive Solenoid Market Future Outlook and Potential Analysis
30. Appendix
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