Automotive Solenoid Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031
Automotive solenoids are electromechanically controlled valves. Automotive solenoids control the rate of flow of fluids (gas or liquid) in various automotive systems. Automotive solenoids work with electric current. Whenever the electricity flows through the solenoid coil will generate electromagnetic suction valve core (or overcome spring since the gravity). Automotive solenoids are commonly used to divert the flow of oil, water, gas and other material.
Factors, such as promising growth rate of the automotive sector, increasing adoption of electric vehicles and increasing demand for automated systems are expected to drive the automotive solenoid market growth during the forecast period. Initiatives by the government and prominent automotive OEMs is also expected to impact the automotive solenoid market optimistically. However, declining sales of diesel-based passenger vehicle coupled with fluctuation in raw material prices are expected to hinder the growth potential of the automotive solenoid market during the forecast period.
The Automotive Solenoid market is segmented on the basis of vehicle type, application, type, and region. Based on vehicle type, the market is classified into passenger vehicle, light commercial vehicle (LCV), heavy commercial vehicle (HCV), and electric vehicle. By application, the market is segmented into engine control, fuel and emission control, HVAC and others. By type, the market is divided into 2 Way Valve, 3 Way Valve, 4 Way Valve, and others. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Prominent players profiled in this report includes 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 and Robert Bosch GmbH.
The drivers, restraints, and opportunities present in the market are explained in the report, in addition to the analysis of their impact. The report includes the study of the automotive solenoid market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
KEY BENEFITS FOR STAKEHOLDERS
This study presents analytical depiction of the global automotive solenoid analysis along with current the trends and future estimations to depict imminent investment pockets.
The overall automotive solenoid opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global automotive solenoid with a detailed impact analysis.
The current automotive solenoid is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
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
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Robert Bosch GmbH
Hitachi Ltd.
Mitsubishi Electric Corporation
Continental AG
Johnson Electric Holding Ltd.
BorgWarner Inc.
Padmini VNA Mechatronics Pvt Ltd
Global Point Magnetics Asia Co. Ltd
Nidec Corporation
Denso corporation
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