What Is The Anticipated Market Size, Growth, and Trends for Global Automotive Solenoid Market?
The automotive solenoid market size has shown a significant upward trend in recent years and is expected to grow from $5.02 billion in 2024 to $5.42 billion in 2025, representing a compound annual growth rate (CAGR) of 8.1%. The historic growth can be attributed to factors such as increased automotive production and sales, rising demand for fuel-efficient and eco-friendly vehicles, an expanding automotive aftermarket, enhanced safety and security requirements, globalization, and international trade.
The market size is expected to see sturdy growth in the next few years, reaching $7.52 billion in 2029 at a CAGR of 8.5%. The forecast growth can be ascribed to the electrification of vehicles, development of autonomous vehicles, stringent government regulations, expansion of the connected car ecosystem, and rising disposable income. Major trends expected in the forecast period include miniaturization and integration, energy-efficient solenoids, 3D printing and advanced materials, and strategic partnerships.
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What Drives The Growth of The Automotive Solenoid Market?
An increase in automation in vehicles is anticipated to drive the growth of the automotive solenoid market. Autonomous vehicles, which operate through artificial intelligence, provide opportunities to produce innovative automotive solenoids. According to Gerber Injury Law, the autonomous vehicles market is growing 16% annually worldwide, and is expected to become a trillion-dollar market by 2025.
What Are The Major Segments in The Global Automotive Solenoid Market?
The automotive solenoid market includes the following segments:
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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Who Are The Major Players in The Automotive Solenoid Market?
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.
What Trends Are Emerging in The Automotive Solenoid Market?
Product innovation is a key trend gaining popularity in the automotive solenoid market. For example, in February 2024, Bürkert Fluid Control Systems, a Germany-based manufacturer of measuring, control and regulating systems for fluids, launched specialized solenoid valves designed specifically for hydrogen fuel cell applications, ensuring durability and safety in hydrogen applications.
Which Region Is Expected To Dominate The Automotive Solenoid Market?
In 2024, Asia-Pacific was the largest region in the automotive solenoid market. This region is expected to be the fastest-growing during the forecast period. The automotive solenoid market report includes the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Automotive Solenoid Market Report 2025 Offer?
Automotive solenoid are positioned between the engine and ignition module of the vehicle and act as essential components for starting the vehicle. Automotive solenoids operate by receiving small electrical currents from the ignition system and large electrical currents from the battery, which is used to start the engine. The Automotive Solenoid Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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