Future Market Insights
The demand within the global automotive solenoid market has been rising on account of advancements in the field of automobile design and testing. Although automotive solenoids are an inherent part of automobile engines, their demand is not entirely dependent on the volume of automobile manufacturing. This is due to the tendency of automobile players to stack spare solenoids across their service centers and manufacturing units. Considering the aforementioned factors, it can be concluded that the sale of automotive solenoids is greater than what is apparent from automobile manufacturing figures.
Increasing focus on the quality of manufacturing across the automotive industry is a key market trend. This trend has pushed the market vendors under the radar of scrutiny, thus, forcing them to improve their standards of manufacturing. This factor shall also aid the growth of the global automotive solenoid market in the years to follow.
A Solenoid is a coil of wire wound around a metal core. In a world where Automation is gaining importance in our day-to-day lives at a fast pace, Solenoids help us achieve ‘Automation’ in different applications. When we give electric current at one end of the solenoid, it generates a magnetic field and this magnetic field can control things like air pressure, locks or water pressure. Automotive Solenoids find applications in different sectors like the Automobile industry, Medical Systems or Lock mechanisms, to name a few. The most popular application of Automotive Solenoids is on the devices like Joystick used for the purpose of games.
Automotive Solenoid market is expected to grow at a moderate CAGR in 2017
Automotive Solenoid Market: Drivers and Restraints
As the demand for automation is increasing, so should the production of Automotive Solenoids. Laws for fuel-efficient vehicles are being brought into action by different countries. This may drive the growth of Automotive Solenoid Market. Earlier machines had big engines. But as the size of engines is decreasing (a concept popularly known as ‘Engine Downsizing Trend’), the demand for Automotive Solenoids is increasing. The fuel and emission control application market in the Automotive Solenoid Market is expected to grow at the significantly high pace.
Use of Automotive Solenoids may be restrained in diesel passenger cars because of their low popularity globally. The dominance of Continental AG in Automotive Solenoid OE market, as well as aftermarket, may affect other key players of the Automotive Solenoid Market.
Automotive Solenoid Market: Market Segmentation
Automotive Solenoid Market is segmented by Vehicle type, Electric Vehicle type, Application, Function, Valve Design and Region.
Based on Vehicle Type,Automotive Solenoid Market is segmented into:-
Light commercial vehicle
Heavy commercial vehicle
Based on Electric Vehicle Type, Automotive Solenoid Market is segmented into:-
Based on Application,Automotive Solenoid Market is segmented into:-
Engine control & cooling system
Fuel & Emission Control
Safety and Security
Body Control & Interiors
Based on Function,Automotive Solenoid Market is segmented into:-
Based on Valve Design, Automotive Solenoid Market is segmented into:-
Based on Region,Automotive Solenoid Market is segmented into:-
Automotive Solenoid Market: Regional Overview
Asia Pacific market is the leading automotive solenoid market, in terms of value. This is because major Automotive Solenoid producing companies lie in the Asia Pacific region, more specifically countries like Korea, Japan, China and India.
Automotive Solenoid Market: Key players
Few of the major players of Automotive Solenoid Market identified are:-
Robert Bosch GmbH (Germany)
Padmini VNA Mechatronics Pvt Ltd (India)
Hitachi Ltd. (Japan)
Mitsubishi Electric Corporation (Japan)
Nidec Corporation (Japan)
Continental AG (Germany)
Global Point Magnetics Asia Co. Ltd. (China)
Johnson Electric Holding (China)
Delphi Automotive PLC (U.K.)
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
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