According to a new market research report published by Global Insight Services “Automotive Solenoid Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
An automotive solenoid is an electrically-operated device that is used to control the flow of fluid within a system. Solenoids are commonly used in automotive applications to control valves’ movement or actuate other mechanical components. When a solenoid is energized, it creates a magnetic field that can be used to open or close a valve, or to move a mechanical component.
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Key Companies
Top key players in Automotive Solenoid Market are 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, and Denso Corporation
Key Trends
One of the key trends in Automotive Solenoid technology is the development of solenoids that can operate at higher temperatures. This is important because it allows for the solenoid to be used in a wider range of applications, including in high-temperature environments. Another trend is the development of solenoids that are more resistant to corrosion. This is important because it increases the lifespan of the solenoid and allows it to be used in more corrosive environments.
Key Drivers
The automotive solenoid market is driven by the increasing demand for vehicles equipped with automatic transmission systems. The automatic transmission system uses a torque converter and planetary gear set, which requires the use of a solenoid to engage the clutches. The automotive solenoid market is also driven by the increasing demand for vehicles with start-stop functionality. Start-stop functionality helps to improve fuel efficiency by shutting off the engine when the vehicle is idling. The automotive solenoid market is also driven by the increasing demand for electric vehicles. Electric vehicles use solenoids to control the flow of electric current to the motor.
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Market Segments
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. Region-wise, it is studied across North America, Europe, Asia-Pacific, and the Rest of the World.
Reasons to buy Automotive Solenoid Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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