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Global Automotive Solenoid Market to reach USD XX billion by the end of 2030

Global Automotive Solenoid Market Size study & Forecast, by Vehicle Type (Passenger Vehicle, LCV, HCV, Electric Vehicle), by Application (Engine Control, Fuel and Emission Control, HVAC, Others), by Type (2-Way Valve, 3-Way Valve, 4-Way Valve, Others) and Regional Analysis, 2023-2030

Product Code: ALTAMC-46386188
Publish Date: 29-02-2024
Page: 200

Global Automotive Solenoid Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% during the forecast period 2023-2030. Solenoid is a type of electromechanical device that converts electrical energy into mechanical motion. In the context of automotive systems, an automotive solenoid is a component used to control the flow of fluids or engage mechanical parts in a vehicle. The key factors driving the market growth are increasing vehicle production, advancements in electric and hybrid vehicles, and rising adoption of advanced driver assistance systems that are anticipated to create lucrative demand for the market during the forecast period 2023-2030.

Additionally, the Automotive Solenoid Market is closely tied to the production of vehicles. As the global demand for automobiles increases, there is a corresponding rise in the demand for solenoids used in various automotive systems, such as starters, fuel injectors, and transmission systems. According to the International Organization of Motor Vehicle Manufacturers, in 2020, the number of vehicles produced globally was 77.6 million and the number reached 80.1 million in 2021. As a result, the rising demand for automotive vehicles globally is anticipated to accelerate the market growth over the projected period. Moreover, increasing government regulations for fuel-efficient vehicles, and growing demand for automatic transmissions are anticipated to create lucrative opportunities for the market. However, the low preference for diesel passenger cars and technical problems associated with solenoid valves stifled market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Automotive Solenoid Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing vehicle electrification, ongoing advancements in solenoid technology, such as the development of more efficient and compact solenoids, and the presence of key market players. Whereas, the Asia Pacific is expected to grow at the fastest growth rate over the forecast period, owing to factors such as increasing automotive production, rising demand for electric vehicles (EVs), stringent emission regulations, and rapid industrialization and urbanization.

Major market player included in this report are:
BorgWarner Inc.
Continental AG
Denso Corporation
Global Point Magnetics Asia Co. Ltd.
Hitachi Ltd.
Johnson holdings Ltd
Mitsubishi Electric Corporation
Nidec Corporation
Padmini VNA Mechatronics Ltd.
Robert Bosch GmbH

Recent Developments in the Market:
Ø In October 2020, ZF Friedrichshafen AG completed the full acquisition of ZF Sachs Micro Mobility GmbH, integrating it as a wholly owned subsidiary within its Industrial Technology Division. Former stakeholders, BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG have transferred their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH specializes in the production of traction motors and associated products for the micro-mobility sector, including e-bikes and bicycles.

Global Automotive Solenoid Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Vehicle Type, Application, Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Vehicle Type:
Passenger Vehicle
Electric Vehicle

By Application:
Engine Control
Fuel and Emission Control
By Type:
2-Way Valve
3-Way Valve
4-Way Valve

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Automotive Solenoid Market, by Region, 2020-2030 (USD Billion)
1.2.2. Automotive Solenoid Market, by Vehicle Type, 2020-2030 (USD Billion)
1.2.3. Automotive Solenoid Market, by Application, 2020-2030 (USD Billion)
1.2.4. Automotive Solenoid Market, by Type, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Automotive Solenoid Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Automotive Solenoid Market Dynamics
3.1. Automotive Solenoid Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing vehicle production Advancements in electric and hybrid vehicles Rising adoption of advanced driver assistance systems
3.1.2. Market Challenges Low preference for diesel passenger cars Technical problems associated with solenoid valves
3.1.3. Market Opportunities Increasing government regulations for fuel-efficient vehicles Growing demand for automatic transmissions
Chapter 4. Global Automotive Solenoid Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Automotive Solenoid Market, by Vehicle Type
5.1. Market Snapshot
5.2. Global Automotive Solenoid Market by Vehicle Type, Performance – Potential Analysis
5.3. Global Automotive Solenoid Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
5.4. Automotive Solenoid Market, Sub Segment Analysis
5.4.1. Passenger Vehicle
5.4.2. LCV
5.4.3. HCV
5.4.4. Electric Vehicle
Chapter 6. Global Automotive Solenoid Market, by Application
6.1. Market Snapshot
6.2. Global Automotive Solenoid Market by Application, Performance – Potential Analysis
6.3. Global Automotive Solenoid Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Automotive Solenoid Market, Sub Segment Analysis
6.4.1. Engine Control
6.4.2. Fuel and Emission Control
6.4.3. HVAC
6.4.4. Others
Chapter 7. Global Automotive Solenoid Market, by Type
7.1. Market Snapshot
7.2. Global Automotive Solenoid Market by Type, Performance – Potential Analysis
7.3. Global Automotive Solenoid Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
7.4. Automotive Solenoid Market, Sub Segment Analysis
7.4.1. 2-Way Valve
7.4.2. 3-Way Valve
7.4.3. 4-Way Valve
7.4.4. Others
Chapter 8. Global Automotive Solenoid Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Automotive Solenoid Market, Regional Market Snapshot
8.4. North America Automotive Solenoid Market
8.4.1. U.S. Automotive Solenoid Market Vehicle Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Automotive Solenoid Market
8.5. Europe Automotive Solenoid Market Snapshot
8.5.1. U.K. Automotive Solenoid Market
8.5.2. Germany Automotive Solenoid Market
8.5.3. France Automotive Solenoid Market
8.5.4. Spain Automotive Solenoid Market
8.5.5. Italy Automotive Solenoid Market
8.5.6. Rest of Europe Automotive Solenoid Market
8.6. Asia-Pacific Automotive Solenoid Market Snapshot
8.6.1. China Automotive Solenoid Market
8.6.2. India Automotive Solenoid Market
8.6.3. Japan Automotive Solenoid Market
8.6.4. Australia Automotive Solenoid Market
8.6.5. South Korea Automotive Solenoid Market
8.6.6. Rest of Asia Pacific Automotive Solenoid Market
8.7. Latin America Automotive Solenoid Market Snapshot
8.7.1. Brazil Automotive Solenoid Market
8.7.2. Mexico Automotive Solenoid Market
8.8. Middle East & Africa Automotive Solenoid Market
8.8.1. Saudi Arabia Automotive Solenoid Market
8.8.2. South Africa Automotive Solenoid Market
8.8.3. Rest of Middle East & Africa Automotive Solenoid Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. BorgWarner Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Continental AG
9.3.3. Denso Corporation
9.3.4. Global Point Magnetics Asia Co. Ltd.
9.3.5. Hitachi Ltd.
9.3.6. Johnson holdings Ltd
9.3.7. Mitsubishi Electric Corporation
9.3.8. Nidec Corporation
9.3.9. Padmini VNA Mechatronics Ltd.
9.3.10. Robert Bosch GmbH
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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