Automotive Solenoid Market Industry Growth, Size, Share, Trends Analysis and Forecast to 2021

25-03-2019 14:03

The report “Automotive Solenoid Market by Application (Body Control & Interiors, Engine Control & Cooling System), Vehicle Type (PC, LCV, HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCEV), Valve Design, Function and Region – Global Forecast to 2022″, The global automotive solenoid market is estimated to be USD 4.13 Billion in 2017, and is projected to grow at a CAGR of 8.82% from 2017 to 2022, to reach USD 6.30 Billion by 2022. The growth of this market is fueled by rising automation in vehicles and increased production of vehicles in emerging economies due to urbanisation.

Research Methodology

The research methodology used in the report involves various secondary sources such as International Organization of Motor Vehicle Manufacturers (OICA) and China Association of Automobile Manufacturers (CAAM). Experts from related industries and suppliers have been interviewed to understand the future trends of the automotive solenoid market. The bottom-up approach has been used to estimate and validate the size of the global market. The market size, by volume, is derived by identifying the region-wise production volumes and analyzing the demand trends. The market size, by value, is derived by multiplying the average selling price of different type of solenoids by the number of units.

The ecosystem of the automotive solenoid industry consists of manufacturers such as Robert Bosch GmbH (Germany), Hitachi Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Continental AG (Germany), Johnson Electric Holding (China), BorgWarner (U.S.), and Delphi Automotive PLC (U.K.).

To know about the assumptions considered for the study, download the pdf brochure

Target Audience of Automotive Solenoid Market

  • Automotive solenoid manufacturers
  • Automotive solenoid material suppliers
  • Industry associations
  • Industry experts
  • Original equipment manufacturers (OEMs)

Scope of the Automotive Solenoid Market Report

  • Automotive Solenoid Market, By Vehicle Type
    • Passenger vehicle
    • Light commercial vehicle
    • Heavy commercial vehicle
  • Automotive Solenoid Market, By Electric Vehicle Type
    • BEV
    • HEV
    • PHEV
    • FCEV
  • Automotive Solenoid Market, By Application
    • Engine control & cooling system
    • Fuel & Emission Control
    • Safety and Security
    • Body Control & Interiors
    • HVAC
    • Other application
  • Automotive Solenoid Market, By Function
    • Fluid Control
    • Gas Control
    • Motion Control
  • Automotive Solenoid Market, By Valve Design
    • 2-way valve
    • 3-way valve
    • 4-way valve
    • 5-way valve

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Asia-Pacific: Largest market for the automotive solenoid market

The motion control function segment is estimated to grow at the highest CAGR in the automotive solenoid market due to the increasing automation of body control applications inside a vehicle.

The Asia-Pacific region is estimated to dominate the global market, in terms of value, in 2017. The region comprises some of the fastest developing economies in the world, including China, India, and South Korea. This has led to an increase in automotive solenoid volumes in recent years, with OEMs catering not only to the domestic demand but to overseas demand as well. North America is estimated to be the fastest growing market due to increasing production of passenger cars and electric vehicles.

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Source: Automotive Solenoid Market Blog