Press release
Automotive Solenoid Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Automotive Solenoid Market
The advancement in vehicular automation is predicted to fuel the expansion of the automotive solenoid market. Self-driving cars, powered by artificial intelligence, are the catalysts for this growth. The rising trend in autonomous vehicles and e-mobility opens doors for the development of inventive automotive solenoids. Gerber Injury Law, a legal firm, has laid out statistics that cite a 16% annual global increase in the self-driving car market, which is projected to escalate to a trillion-dollar industry by 2025.
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What is the projected compound annual growth rate (CAGR) of the automotive solenoid market from 2025 to 2034, and what factors influence it?
In recent years, the automotive solenoid market has seen robust growth. Projected to rise from $5.02 billion in 2024 to $5.42 billion in 2025, it is expected to have a compound annual growth rate (CAGR) of 8.1%. The growth in the previous period is due to an increase in automotive production and sales, a growing demand for eco-friendly and fuel-efficient vehicles, the expansion of the automotive aftermarket, heightened safety and security needs, and the impact of globalization and international trade.
Expect predictions for significant expansion in the automotive solenoid market over the next several years, with a projected growth to $7.52 billion in 2029 and a compound annual growth rate (CAGR) of 8.5%. Such robust growth during the forecast period can be linked to various factors such as vehicle electrification, the evolution of autonomous vehicles, strict governmental regulations, the expansion of the connected car ecosystem, and increases in disposable income. Miniaturization and integration, energy-efficient solenoids, advanced materials and 3D printing, along with strategic partnerships, are expected to be some of the leading trends during this period.
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How are the latest trends influencing the growth of the automotive solenoid market?
In the automotive solenoid market, product innovations are emerging as a prominent trend. This involves the conception or the unveiling of a novel product or an enhanced version of an existing product. To illustrate, Bürkert Fluid Control Systems, a German manufacturer specialising in fluid measurement, control, and regulation systems, launched a unique solenoid valve designed for hydrogen fuel cell applications in February 2024. The product is built with a 316 stainless steel body to resist hydrogen embrittlement, thereby guaranteeing longevity and safety in its hydrogen applications.
What are the major segments of the automotive solenoid market and their role in driving growth?
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
Subsegments:
1) By Fluid Control: Fuel Injection Solenoids, Transmission Control Solenoids, Brake System Solenoids
2) By Gas Control: EGR (Exhaust Gas Recirculation) Solenoids, Air Intake Control Solenoids, Turbocharger Wastegate Solenoids
3) By Motion Control: Door Lock Solenoids, Window Lift Solenoids, Seat Adjustment Solenoids
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Which regions are key players in the growth of the automotive solenoid market?
Asia-Pacific was the largest region in the automotive solenoid market in 2024. 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.
Who are the key firms paving the way for growth in the automotive solenoid market?
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
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What Is Covered In The Automotive Solenoid Global Market Report?
•Market Size Forecast: Examine the automotive solenoid market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive solenoid market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive solenoid market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive solenoid market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive solenoid market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive solenoid market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive solenoid market.
•Competitive Landscape: Review strategic developments in the automotive solenoid market, including expansions, agreements, and new product launches.
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