Global Automotive Solenoid Market
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 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.
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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.).
The figure given below illustrates the break-up of the profile of industry experts who participated in primary discussions.
Body Control and Interiors segment to hold the largest share in the automotive solenoid market, by application type
The body control and interiors application is estimated to account for the largest share in the global automotive solenoid market. This application is used in all passenger and commercial vehicles (CV) as well as electric vehicles, unlike some applications that may or may not be used in electric vehicles. For example, engine control valves are not used in a battery electric vehicle (BEV) for the engine control application.
Target Audience of Automotive Solenoid Market
- Automotive solenoid manufacturers
- Automotive solenoid material suppliers
- Industry associations
- Industry experts
- Original equipment manufacturers (OEMs)
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Scope of the Automotive Solenoid Market Report
Automotive Solenoid Market, By Application
- Engine control & cooling system
- Fuel & Emission Control
- Safety and Security
- Body Control & Interiors
- Other application
Asia-Pacific: Largest market for the automotive solenoid market
Asia-Pacific is estimated to hold the largest market share, in terms of value, of the global automotive solenoid market in 2017. The region comprises some of the fastest developing economies in the world such as China, India, and South Korea. There has been a significant increase in vehicle production volumes over the years, with OEMs catering not only to domestic demand but to overseas demand as well.
The major players profiled in the report are 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.).
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Source: Automotive Solenoid Market Analysis by 2022