According to a new market report published by Lucintel, the future of the global automotive solenoid market looks promising with opportunities in the passenger car, light commercial vehicle, and heavy commercial vehicle segments. The global automotive solenoid market is expected to grow with a CAGR of 9% from 2021 to 2026. The major drivers for this market are growing vehicle automation and demand for fuel efficient vehicles.
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In this market, fluid control, gas control, and motion control are the major functions used to manufacture automotive solenoid. On the basis of comprehensive research, Lucintel forecasts that motion control will remain the largest segment, and it is also expected to witness the highest growth over the forecast period because of increase in automation of body control applications in vehicles.
Within the global automotive solenoid market, the body control and interior segment is expected to witness the highest growth over the forecast period due to huge application in all automotive vehicles.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to increasing demand for automotive vehicles in this region.
Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of micro-miniature valves, customized valves, and pinch valves. Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, Continental AG, Johnson Electric Holding, BorgWarner, and Delphi Automotive PLC are among the major suppliers of the automotive solenoid market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global automotive solenoid market by valve design, function, application, vehicle, and region, and has compiled a comprehensive research report titled “Growth Opportunities in the Global Automotive Solenoid Market 2021-2026: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global automotive solenoid market by valve design, function, application, vehicle, and region, as follows:
By Valve Design [Value ($ Billion) and Volume (Million Units) from 2015 to 2026]:
2-way valve
3-way valve
4-way valve
5-way valve
By Function [Value ($ Billion) and Volume (Million Units) from 2015 to 2026]:
Fluid Control
Gas Control
Motion Control
By Application [Value ($ Billion) and Volume (Million Units) from 2015 to 2026]:
Engine control & cooling system
Fuel & Emission Control
Safety and Security
Body Control & Interiors
HVAC
Other Applications
By Vehicle [Value ($ Billion) and Volume (Million Units) from 2015 to 2026]:
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Region [Value ($ Billion) and Volume (Million Units) from 2015 to 2026]:
North America
United States
Canada
Mexico
Europe
APAC
ROW
This more than 150-page page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.