2024--2031 Automotive Solenoid Market Forecast

• 2024-2031 Automotive Solenoid Market Forecast

Part 1  Automotive Solenoid geographically competition

Geographically, the automotive solenoid market is divided into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the largest market share in the global automotive solenoid market and is expected to dominate during the forecast period. Developing countries such as India, Japan, and China are major producers of automobiles, and important vehicle manufacturers are also located in the Asia Pacific region. This has triggered the growth of the automotive solenoid market in recent years. On the contrary, the European automotive solenoid market has grown significantly due to the rise of the automotive industry. In addition, important automakers such as Audi and Volkswagen also have operations in the region.

Part 2, Forecast market cagr rate.

The global automotive solenoid market size is $4.84 billion in 2022 and $5.1 billion in 2023, and is expected to grow to $7.71 billion by 2031, with a CAGR of 5.3% over the 6-year forecast period (2024-2031).

Part 3  The type of Automotive Solenoid

Automotive solenoid are actuators of electronic control systems. There are many types of automotive solenoid, and different automotive solenoid play a role in different positions of the control system. Automotive solenoid usually include automotive engine solenoid valves, automatic transmission solenoid valves, automotive oil and gas conversion solenoid , automotive air conditioning solenoid valves, automotive shift solenoid, starter solenoid, Solenoid for car headlight etc. In terms of the current status of the industry at China, driven by the growth of domestic demand for new energy vehicles, the demand for automotive solenoid in my China has begun to pick up. Data shows that the output and demand of automotive solenoid in China will be 421 million sets and 392 million sets respectively in 2023.

The automotive solenoid market research report comprehensively judges the market through strategic insights into future trends, growth factors, supplier landscape, demand landscape, year-on-year growth rate, CAGR, and pricing analysis. It also provides many business matrices, including Porter's Five Forces Analysis, PESTLE Analysis, Value Chain Analysis, 4P Analysis, Market Attractiveness Analysis, BPS Analysis, Ecosystem Analysis.

Automotive Solenoid Adjustment Analysis

By Vehicle Type

Passenger Cars, LCV, HCV and Electric Vehicles

By Application

Engine Control, Fuel and Emission Control, HVAC, etc.

Valve Type

2-Way Solenoid Valve, 3-Way Solenoid Valve, 4-Way Solenoid Valve, etc

Part 4, Future demand of Automotive Solenoid.

Growing Demand for Complex Automation Systems

The automotive industry has undergone a revolution due to increased automation and digitization. In the past, mechanical actuators produced by automakers were limited to manually operated applications such as seat adjustment and window lifts. The market for solenoids (sometimes called electromechanical actuators) will continue to grow due to the growing demand for complex automation applications and good fuel economy. For lifting, tilting, adjusting, placing, retracting, extracting, controlling, opening and closing all automation applications, solenoids are widely used in trucks and heavy vehicles.

Part  5  Application of automotive Solenoid  

Consumers are increasingly turning to new upgraded transmission systems such as AMT, DCT and CVT, which can provide better vehicle control and acceleration, thereby improving the driving experience. This is mainly because modern transmission systems allow real-time control of torque at every gear shift. Since the friction loss caused by shifting is minimized and the torque required for the new gear is quickly synchronized, the torque setting time for the new gear is longer.

In recent years, China's automobile solenoid industry has developed rapidly, not only has the production level been greatly improved, but its output has also increased significantly. However, small and medium-sized and private solenoid valve companies have grown more rapidly and accounted for a larger proportion in this process. However, there are fewer large solenoid valve companies, and the solenoid valves in the domestic automotive industry are not well branded and have poor market competitiveness.

Part 6 , Challenging for Chinese Automotive solenoid brand

At present, the low-end field of Chinese automotive solenoid industry has basically achieved localization, and the mid-to-high-end field has gradually replaced it with advantages such as cost and service, and is committed to the international competition in the industry. The technical level of some of my country's automotive solenoid valve parts and components has been close to the international advanced level, but some products still have a gap with foreign products in terms of working performance, service life and comfort of use. Most companies in the industry are in the process of advancing from the absorption, introduction and digestion stage to the independent research and development stage. In future, Chinese automotive solenoid backbone enterprises will surely be able to catch up with and surpass similar global brand companies, contribute to the localization of major national technical equipment, and occupy a certain share in the world solenoid valve market competition.

Summery

The Asia Pacific automotive solenoid plays a key role in the future automotive solenoid.  The market growing rate is about 5.8% for each year in next 2024 to 2031. Future automotive solenoid likes the smart and single operation automotive solenoid. Chinese brand of automotive solenoid is on the way for sharing the small rate of the market trend.