Automotive Solenoid Market

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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.
The report analyzes and forecasts the market size, in terms of volume (million units) and value (USD million), of the global automotive solenoid market. The report segments the market and forecasts its size, by volume and value, on the basis of region, vehicle, electric vehicle, valve design, function, and application. It provides a detailed analysis of various forces acting in the market (drivers, restraints, opportunities, and challenges). It strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report also tracks and analyzes competitive developments such as joint ventures, mergers & acquisitions, new product launches, expansions, and other activities carried out by key industry players.
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.).
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Target Audience of Automotive Solenoid Market

  • Automotive solenoid manufacturers
  • Automotive solenoid material suppliers
  • Industry associations
  • Industry experts
  • Original equipment manufacturers (OEMs)
The body control and interiors segment of this market is estimated to account for the largest market share, in terms of value, in 2017. This segment leads the automotive solenoid market due to its application in all automotive vehicles passenger vehicle or commercial vehicle that roll out of the manufacturing unit. The second largest market, by application, in 2017 is the engine control and cooling system, followed by fuel and emission control.
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.
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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.
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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