Automotive Solenoid Market Insights: Global Trends & Competitive Analysis

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The automotive solenoid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Automotive Solenoid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The automotive solenoid market size has grown strongly in recent years. It will grow from $4.69 billion in 2023 to $5.1 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increase in automotive production and sales, rise in demand for fuel-efficient and eco-friendly vehicles, expanding automotive aftermarket, enhanced safety and security requirements, globalization and international trade.

The automotive solenoid market size is expected to see strong growth in the next few years. It will grow to $7.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to electrification of vehicles, autonomous vehicle development, stringent government regulations, expansion of the connected car ecosystem, rising disposable income. Major trends in the forecast period include miniaturization and integration, energy-efficient solenoids, 3d printing and advanced materials, strategic partnerships.

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Scope Of Automotive Solenoid Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Automotive Solenoid Market Overview
Market Drivers -
The rising automation in vehicles is expected to propel the growth of the automotive solenoid market. Autonomous vehicles are self-driven vehicles, which operate through artificial intelligence. Growing autonomous vehicles and e-mobility provide opportunities to produce innovative automotive solenoids. According to Gerber Injury Law, a law firm, the autonomous vehicles market is growing 16% each year across the world, and it is expected to reach a trillion-dollar by 2025.

Market Trends -
Product innovations are a key trend gaining popularity in the automotive solenoid market. Product innovation is the creation or introduction of a new good or launching the improved version of a previous good. For instance, in 2021, Danfoss, a provider of advanced engineering products, developed new EVT solenoid valves for CO2 systems up to 140 bars.

The automotive solenoid market covered in this report is segmented –
1) By Function: Fluid Control, Gas Control, Motion Control
2) By Protocol: Direct Acting, Manual Reset, Pilot Operated
3) By Valve Design: 2-Way Valve, 3-Way Valve, 4-Way Valve, 5-Way Valve
4) By Vehicle Type: Passenger Cars, Commercial Vehicles
5) By Application: Engine Control and Cooling System, Fuel and Emission Control, Safety and Security, Body Control and Interiors, HVAC, Other Applications

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Regional Insights -
Asia-Pacific was the largest region in the automotive solenoid market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive solenoid market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies -
Major companies operating in the automotive solenoid market include Robert Bosch GmbH, Mitsubishi Electric Corporation, Johnson Electric Holdings Limited, BorgWarner Inc., Hitachi Ltd., Continental AG, Mahle GmbH, ASCO Valve Inc., Norgren Inc., Danfoss A/S, Delphi Technologies plc, Denso Corporation, ZF Friedrichshafen AG, Nidec Corporation, Schaeffler AG, Rheinmetall Automotive AG, Stoneridge Inc., TLX Technologies LLC, Gideon Automotive Industries Ltd., Kendrion N.V., MZW Motor GmbH, Bicolex Enterprises Ltd., Zonhen Electric Appliances Co. Ltd., Padmini VNA Mechatronics Pvt. Ltd., Jaksa d.o.o., Global Point Magnetics Asia Co. Ltd., Endicott Coil Company Inc., Able Coil & Electronics Co. Inc., Hybrid Electronics Corp., Jewell Instruments LLC, Datatronics Inc., Plast-O-Matic Valves Inc., Magnatrol Valve Corp., Texas Industrial Remcor Inc., Electricsolenoidvalves.com, American Precision Supply Inc., Liberty Industries Inc., Infineon Technologies AG

Table of Contents
1. Executive Summary
2. Automotive Solenoid Market Report Structure
3. Automotive Solenoid Market Trends And Strategies
4. Automotive Solenoid Market – Macro Economic Scenario
5. Automotive Solenoid Market Size And Growth
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27. Automotive Solenoid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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