Automotive Solenoid Market Outlook, Dynamics and Strategic Insights by 2031

MARKET INTRODUCTION

A solenoid in automobiles is utilized as the starter solenoid. The starter solenoid is overhead of the starter motor. It obtains a huge electric current from the automobile battery and a small electric current from the ignition relay. The small current is the control current in response to which the solenoid transmits the electric current from the battery to the starter motor, which leads to the engine getting into motion.

MARKET DYNAMICS

Increasing demand for advanced automation systems, growing demand for fuel-efficient vehicles, and engine downsizing trend are some of the major factors driving the growth of the automotive solenoid market. Moreover, Growing Government Regulations for Fuel-Efficient Vehicles is another factor anticipated to boost the growth of the market.

MARKET SCOPE

The "Global Automotive Solenoid Market Analysis to 2031" is a specialized and in-depth study of the automotive solenoid market with a special focus on the global market trend analysis. The report aims to provide an overview of automotive solenoid market with detailed market segmentation by vehicle type, function, valve design, application. The global automotive solenoid market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading automotive solenoid market players and offers key trends and opportunities in the automotive solenoid market.

MARKET SEGMENTATION

The global automotive solenoid market is segmented on the basis of vehicle type, function, valve design, application. On the basis of vehicle type, the market is segmented as passenger vehicle, light commercial vehicle, heavy commercial vehicle. On the basis of function, the market is segmented as fluid control, gas control, motion control. On the basis of valve design, the market is segmented as 2-way valve, 3-way valve, 4-way valve, 5-way valve. On the basis of application, the market is segmented as engine control & cooling system, fuel & emission control, safety and security, body control & interiors, HVAC, other.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global automotive solenoid market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The automotive solenoid market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.

`The report analyzes factors affecting automotive solenoid market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the automotive solenoid market in these regions.

MARKET PLAYERS

The reports cover key developments in the automotive solenoid market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from automotive solenoid market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive solenoid market. Below mentioned is the list of few companies engaged in the automotive solenoid market.

The report also includes the profiles of key automotive solenoid market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.

•  BorgWarner Inc.
  
•  Emerson Electric Co
  
•  GKN Sinter Metals Engineering GmbH
  
•  Hitachi Automotive Systems, Ltd.
  
•  Jaksa d.o.o.
  
•  Johnson Electric Holdings Limited
  
•  Mitsubishi Electric Corporation
  
•  NIDEC TOSOK CORPORATION
  
•  Robert Bosch GmbH
  
•  Stoneridge Inc.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Automotive Solenoid Report Scope