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From USD 5.0 Billion in 2023 to USD 9.8 Billion by 2034: Automotive Solenoid Market Size to See Significant Expansion - Exclusive Report by TMR
Automotive Solenoid Market SWOT Analysis and Outlook 2034
The automotive solenoid market is poised for consistent growth as vehicle electrification, automation, and fuel efficiency trends continue to transform the automotive landscape. In 2023, the global market was valued at US$ 5.0 billion, and it is expected to grow at a CAGR of 6.3% from 2024 to 2034, reaching US$ 9.8 billion by the end of 2034.
This growth is driven by increasing demand for automatic and electric vehicles (EVs), integration of advanced driver-assistance systems (ADAS), and the continued evolution of engine management technologies.
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Market Overview
Solenoids, which are electromechanical devices used to control the flow of fluid or electricity in automotive systems, play a critical role in various applications such as transmission systems, fuel injection, HVAC systems, braking systems, and powertrains. Their precise control and compact design make them indispensable components in both traditional internal combustion engine (ICE) vehicles and modern EVs and hybrids.
The push for fuel efficiency and emission reductions has increased the adoption of solenoids in variable valve timing (VVT) systems and start-stop mechanisms. Moreover, as automotive manufacturers focus on vehicle automation, the demand for solenoids in safety and convenience features is steadily rising.
Analysis of Key Players in the Automotive Solenoid Market
The global automotive solenoid market is witnessing rapid innovation, with leading companies focused on developing advanced solenoid switches suitable for diverse applications such as transmission systems, fuel injection, and start-stop mechanisms. A notable trend in the industry is the development of smart solenoids equipped with Internet of Things (IoT) capabilities, which are enhancing the functionality, efficiency, and reliability of automotive systems.
Prominent players in the market include:
• BorgWarner Inc.
• DENSO CORPORATION
• Emerson Electric Co.
• GIDEON Automotive Industries
• GKN Automotive Limited
• Hitachi Astemo, Ltd.
• Johnson Electric Holdings Limited
Kendrion N.V., MAHLE GmbH, Mitsubishi Electric Corporation, Nidec Corporation, Rheinmetall Automotive, Robert Bosch GmbH, Rotex Automation, Schaeffler AG, Stoneridge, TLX Technologies, and ZF Friedrichshafen AG.
These companies are comprehensively profiled in the market report based on criteria such as company overview, financial performance, strategic initiatives, product portfolio, business segments, and recent innovations.
Key Developments in the Global Automotive Solenoid Market
• November 2022 - Spartan Scientific introduced the 6700 diaphragm valve, expanding its range of engineered solenoid valves. Available in 3⁄4" and 1.0" NPT port configurations, this new valve caters to various system requirements in fluid and pneumatic automation.
• January 2022 - Atar Capital, a private investment firm, announced the acquisition of BorgWarner's North American Controls (BWNAC) business. BWNAC is a significant supplier of transmission and engine solenoids, stop-start accumulators, and hydraulic control modules, particularly serving the North American automotive sector.
As the market evolves, the focus is clearly shifting toward smart, connected solenoid technologies, aligning with broader trends of vehicle electrification and digitalization. Companies investing in these innovations are expected to strengthen their competitive edge in the coming years.
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Key Drivers
✅ Rising Vehicle Electrification
As hybrid and electric vehicles continue to gain popularity, they require a greater number of solenoids for energy-efficient subsystems. Electrification is expanding solenoid usage in systems like battery thermal management, electronic gear shifts, and regenerative braking.
✅ Growing Adoption of Advanced Transmissions
Modern automatic and dual-clutch transmission systems rely heavily on solenoid valves to manage fluid pressure and control gear shifting operations. This trend is driving the adoption of high-performance solenoids that offer durability, fast response times, and operational efficiency.
✅ Expansion of ADAS and Safety Features
The incorporation of ADAS technologies such as adaptive cruise control, lane-keeping assist, and collision avoidance increases the need for responsive and reliable solenoids to operate actuators and sensors in real-time driving scenarios.
✅ Emission Regulation Compliance
Governments across regions are tightening fuel efficiency and emission standards. Solenoids help optimize fuel injection and emission control systems in compliance with global standards such as EURO 6, BS-VI, and CAFÉ regulations, particularly in emerging markets.
Market Segmentation
By Vehicle Type
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
• Electric Vehicles (EVs)
The passenger car segment dominates due to the widespread use of solenoids in modern comfort, safety, and powertrain systems.
By Application
• Engine Control
• Fuel & Emission Control
• Transmission System
• Braking System
• HVAC
• Door Locks and Power Windows
The transmission and engine control segments account for a significant market share, thanks to increasing automation and demand for smoother vehicle performance.
By Type
• 3-Port Solenoid
• 4-Port Solenoid
• 5-Port Solenoid
• Others
Different solenoid types are selected based on the application requirements-such as flow control or switching mechanisms within the vehicle.
Regional Insights
• Asia-Pacific
Dominates the global market due to the presence of major automotive hubs in China, India, Japan, and South Korea. The region's booming auto industry, along with government EV incentives, is accelerating the demand for solenoids.
• Europe
Strong focus on emission control, sustainability, and EV adoption is leading to increasing use of solenoids in fuel-efficient and environmentally friendly vehicles. Countries like Germany and France lead the way in automotive innovation.
• North America
With rising investments in EV infrastructure and a mature market for luxury and advanced vehicles, North America presents robust opportunities for automotive solenoid manufacturers.
• Latin America, Middle East & Africa
These regions are experiencing steady growth with increasing vehicle ownership, growing industrialization, and demand for durable automotive components.
Opportunities and Challenges
Opportunities
• Development of miniaturized and smart solenoids for autonomous vehicles.
• Rising production of electric and hybrid vehicles across the globe.
• Growing aftermarket demand for solenoids due to vehicle aging and increased servicing.
Challenges
• Volatility in raw material prices such as copper and steel.
• High cost and complexity of precision solenoid designs for premium systems.
• Competitive pressure from low-cost regional manufacturers.
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Why Buy This Report?
• Gain insights into market forecasts and growth trends from 2024 to 2034.
• Understand the technological landscape and product evolution in automotive solenoids.
• Identify emerging opportunities in the EV and ADAS ecosystems.
• Analyze regional dynamics and consumer demand trends across geographies.
• Evaluate the competitive positioning and strategy of key players in the global market.
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