Automotive Solenoid Market Overview:

The Global Automotive Solenoid Market size is expected to grow from USD 5.44 billion in 2022 to USD 9.78 billion by 2030, at a CAGR of 7.6% during the forecast period (2023-2030).

A solenoid is a coiled wire wrapped around a metal core, playing a crucial role in achieving automation in various applications. By applying electric current to one end, it generates a magnetic field that can control air pressure, locks, or water pressure. Automotive solenoids are widely used in sectors such as automobiles, medical systems, and lock mechanisms. They are particularly popular in gaming devices like joysticks. In the automotive industry, solenoids are essential components in starters, acting as a contact for power transmission from the battery. With the increasing production of vehicles, the demand for solenoids is also rising. Solenoids are gaining traction in the application of automatic transmissions, which rely on hydraulic pressure to change gears. The trend of engine downsizing is expected to further drive the growth of the automotive solenoid market in the coming years.

Top Key Players in Automotive Solenoid Market:

• Mitsubishi Electric Corporation (Japan),
• Nidec Corporation (Japan),
• MVD Auto Components Pvt. Ltd. (India),
• Stoneridge Inc. (USA),
• Aptiv PLC (Ireland),
• Bitron Industrie S.p.A (Italy),
• BorgWarner Inc. (USA),
• Continental AG (Germany),
• Cumsa Corporation-Lockcarft (Spain),
• Global Point Magnetics Asia Co. Ltd. (Hong Kong),
• Denso Corporation (Japan),
• GKN PLC (UK),
• Hitachi Ltd. (Japan),
• Husco International Inc. (USA),
• Robert Bosch GmbH (Germany),
• Johnson Electric Holdings Ltd. (Hong Kong),
• Parker Hannifin Corporation (USA),
• Schaeffler AG (Germany),
• Kendrion NV (Netherlands),
• Magnet - Schultz GmbH & Co. Kg (Germany),
• Rotex Automation Limited (India),
• Padmini Vna Mechatronics Pvt Ltd (India),
• Pneumadyne Inc. (USA),
• TLX Technologies LLC. (USA),
• WABCO Holdings Inc. (Belgium), and other major players.

Market Dynamics and Factors:      

The rise of autonomous vehicles is fueling the demand for electric and electronic components, including solenoids. These self-regulating proportional solenoids play a crucial role in autonomous systems, such as autonomous steering. Additionally, solenoid valves are essential for electronic control brake systems and thermal management in hybrid and electric vehicles. As the automotive industry embraces autonomous and electric technologies, the automotive solenoid market is experiencing significant growth potential.

Valve development is focused on energy efficiency, convenience, and high-tech features with user-friendly designs. The emphasis is on reducing energy consumption, fluid flow resistance, and improving user experience. Energy-saving measures often center around electric devices, utilizing low-power and low-noise motors with improved structures to control energy consumption. The growth of hybrid electric vehicles (HEV) and electric vehicles (EV) is driving the development of new solenoid valves, including micro-miniature and customized valves.

The Report Will Include A Major Chapter

• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis

Key Industry Development:

In July 2020, BluE Nexus Corporation, a joint venture between Aisin Seiki Co., Ltd. and DENSO Corporation, partnered with Toyota Motor Corporation to enhance their competitive edge in vehicle electrification-related products. The collaboration aims to leverage Toyota's expertise in control calibration technologies for engines, batteries, and other key components, along with BluE Nexus's well-designed electric drive modules. As part of the partnership, Toyota announced its investment by acquiring a 10 percent stake in Blue Nexus.

In October 2020, ZF Friedrichshafen AG completed the acquisition of ZF Sachs Micro Mobility GmbH, making it a wholly-owned subsidiary and integrating it into its Industrial Technology Division. The previous shareholders, BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG, transferred their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH specializes in the production of traction motors and related products specifically designed for micro-mobility solutions, including e-bikes and bicycles.

Automotive Solenoid Market Report Highlight:

• By Vehicle Type, the passenger vehicles segment holds a larger market share as compared to the Light Commercial Vehicle. The automotive solenoid market is primarily dominated by the passenger vehicles sector. Passenger vehicles, including sedans, SUVs, and hatchbacks, account for a significant portion of the overall demand for automotive solenoids
• By Electric Vehicle Types, the BEV segment is expected to register the highest growth during the projected period. Unlike vehicles with gasoline engines that require fuel and routine maintenance, BEVs operate solely on electric power.
• By Function, the fluid control segment is expected to register the highest growth during the projected period. Fluid control solenoids play a crucial role in regulating fluid flow and actuating pumps to generate pressure in various applications, including braking and steering systems.
• By Application, the body control and interior are expected to register the highest growth during the projected period. Unlike certain applications that may or may not be utilized in EVs, fluid control solenoids are essential components across all types of vehicles.
• The European region is expected to have the highest share of the Automotive Solenoid Market over the projected period. The country holds a prominent position, attracting a large number of individuals who engage in reading storybooks.

Central to our report are the company profiles and competitive analysis, providing insights into market players' overview, market roles, and operating business segments. We evaluate their financial performance, production volume, sales volume, and sales margin while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Automotive Solenoid Market.

Automotive Solenoid Market Segmentation:

By Vehicle Type

• Light Commercial Vehicle
• Passenger Vehicle
• Heavy Commercial Vehicle

By Electric Vehicle Types

• BEV
• HEV
• PHEV
• FCEV

By Function

• Fluid Control
• Gas Control
• Motion Control

By Application

• Safety & Security
• Body Control & Interiors
• Engine Control & Cooling System
• Others

For this report, Introspective Market Research has segmented the Automotive Solenoid Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

• US
• Canada
• Mexico

Eastern Europe

• Bulgaria
• The Czech Republic
• Hungary
• Poland
• Romania
• Rest of Eastern Europe

Western Europe

• Germany
• UK
• France
• Netherlands
• Italy
• Russia
• Spain
• Rest of Western Europe

Asia Pacific

• China
• India
• Japan
• South Korea
• Malaysia
• Thailand
• Vietnam
• The Philippines
• Australia
• New Zealand
• Rest of APAC

Middle East & Africa

• Turkey
• Bahrain
• Kuwait
• Saudi Arabia
• Qatar
• UAE
• Israel
• South Africa

South America

• Brazil
• Argentina
• Rest of SA