Global Market Study on Automotive Solenoids: Vehicle Downsizing Trend to Create Substantial Demand for Automotive Solenoids


Automotive Solenoid  Market
  • Report code : PMRREP17416 |
  • Industry : Automotive |
  • Published On : Jan-2020 |
  • Pages : 295 Pages |
  • Format : Automotive Solenoid  Market Automotive Solenoid  Market Automotive Solenoid  Market Automotive Solenoid  Market

In automotive, solenoid serves as a point of contact for power to reach the starter from the battery. Automotive solenoids serve a broad range of purposes, including automatic transmission. As a result of a surge in vehicle sales, the demand for solenoids from manufacturers is increasing. Modernization of automobiles has boosted the trend of engine downsizing, which is expected to gain further traction in the years ahead. An important result of this trend is the growing usage of solenoids in automotive transmission. The need for automatic transmission is rising around the world, which, in turn, creates demand for solenoids in the automotive industry, thereby projected to boost the growth of the global automotive solenoid market.

Autonomous Vehicles to Fuel Demand for Automotive Parts & Components

Autonomous vehicles have the ability to navigate and sense the environment around without an onboard human being. Autonomous vehicles combine a variety of technologies and techniques, which simultaneously is expected to fuel the demand for electric and electronic components. Autonomous vehicle technology and electrified powertrains are anticipated to generate significant interest in consumers, and are estimated to possess long-term value potential. Many systems in an autonomous vehicle demand a proportional feedback control, which is offered by autonomous self-regulating proportional solenoids. Further, solenoids are an essential part of autonomous steering. The solenoid in the steering is activated once the car starts working in the autonomous mode. This factor is highly likely to drive the growth of the automotive solenoid market over the years to come.

Automotive Solenoid Market: Structure Analysis

  • Quality, innovative product offerings, flexibility, and aftersales support are anticipated to play a significant role in promoting the sales of automotive solenoids. Moreover, manufacturers are also emphasizing on expanding their geographical reach and manufacturing capabilities through research and development in order to ensure a prominent position in the competitive automotive solenoid market.
  • Major players operating in the global automotive solenoid market include Johnson Electric Holdings Limited, Flex Ltd., Denso Corporation, Mitsubishi Electric Corporation, BorgWarner Inc., Hitachi Ltd., Continental AG, and Littlefuse Inc., among others.

Analysts’ Viewpoint on Automotive Solenoid Market

A detailed view of the automotive solenoid market space has led our analysts to conclude that, manifestation in infrastructure and rising customer preferences have increased the demand for vehicles and also the need for solenoids for automobiles. In the coming years, markets in emerging countries will create opportunities for numerous foreign players to penetrate into. This could present significant opportunities for local firms to form joint ventures or even be acquired by larger players that are looking to gain a strong foothold in such domestic automotive solenoid markets.

Automotive Solenoid Market – Report Scope

Persistence Market Research (PMR) recently published a study report on the global automotive solenoid market. The report provides detailed valuation of key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the automotive solenoid market structure. This market research report presents exclusive facts and figures about how the automotive solenoid market will grow over the forecast period.

Key indicators of market growth, such as value chain analysis, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automotive solenoid market over the forecast period.

The study is relevant for stakeholders in the automotive solenoid market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the global automotive solenoid market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive solenoid market can leverage the information and statistics presented in PMR’s research report.

The report includes facts and figures related to the macro- as well as micro-economic factors that are impacting the growth of the automotive solenoid market. The study also offers actionable insights based on the future trends in the automotive solenoid market. Furthermore, regional players and new entrants in the automotive solenoid market can also use the information presented in this report to make business decisions and gain momentum in the market.

Key Segments of Automotive Solenoid Market

PMR’s study on the automotive solenoid market is divided into four significant segments - vehicle type, application, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.

Vehicle Type

Application

Sales Channel

Region

  • Passenger Cars
    • Compact
    • Mid-size
    • Luxury
    • SUVs
  • LCVs
    • LCV-Economy
    • LCV-Premium
  • HCVs
    • HCV-Economy
    • HCV-Premium
  • Electric Vehicles
    • BEVs
    • HEVs
    • PHEVs
  • Two Wheelers
    • Electric
    • Conventional
  • Engine Management Systems
  • Powertrain Systems
  • Safety & Security Systems
  • HVAC Control & Cooling Systems
  • Others
  • OEMs
  • Aftersales
  • North America
  • Latin America
  • Europe
  • South East Asia & Pacific
  • Middle East & Africa
  • China
  • Japan

Key Questions Answered in PMR’s Automotive Solenoid Market Report

  • Which region is anticipated to hold a prominent market share over the forecast period?
  • What will be the key driving factors propelling the demand for automotive solenoid during the forecast period?
  • How will current trends impact the automotive solenoid market?
  • Who are significant market participants in the automotive solenoid market?
  • What are the crucial strategies of prominent players in the automotive solenoid market to upscale their positions in this landscape?

Automotive Solenoid Market: Research Methodology

In PMR’s research report, exclusive research methodology is utilized to conduct comprehensive research on the development of the automotive solenoid market and reach conclusions on the future growth factors of the market. In this research methodology, secondary and primary research is utilized by assistant analysts to ensure precision and reliability of the conclusions.

Secondary resources are referred by analysts during the evaluation of the automotive solenoid market study, and comprise of the facts and figures from the World Bank, OEM websites, government websites, white papers, trade journals, and external and internal databases. Analysts have thoroughly interviewed several industry experts, such as sales supervisors, sales operation managers, product portfolio managers, senior managers, market intelligence managers, marketing/product managers, and production managers to provide insightful information.

Comprehensive information acquired from primary resources and secondary resources is validated from companies operating in the market to make PMR’s projection on growth prospects of the automotive solenoid market more accurate and reliable.

Companies covered in Automotive Solenoid Market Report

  • Johnson Electric Holdings Limited
  • Flex Ltd. 
  • DENSO CORPORATION
  • Robert Bosch GmbH
  • Mitsubishi Electric Corporation
  • BorgWarner Inc. 
  • TLX Technologies
  • Hitachi, Ltd. 
  • G. W.  Lisk Company
  • Continental AG
  • Littlefuse, Inc. 
  • Bitron Industrie S. p. A

 

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