“The global increase in vehicle production of developing and developed countries gives the thrust for the growth of the automotive solenoid market”
The automotive solenoid market is estimated to be USD 4.13 billion in 2017 and is projected to reach USD 6.30 billion by 2022, at a CAGR of 8.82%. The growth can be attributed to the global vehicle production of 94.9 million units in 2016, as compared to 90.8 million units in 2015, which directly led to a global increase in the automotive solenoid market. The automotive solenoid market may be affected by the low preference for diesel passenger cars globally, which creates restraints for the automotive solenoids used in waste gate, VGT, and EGR.
“The Fuel and Emission Control application market in automotive solenoid market to be the fastest growing market”
The Fuel and Emission Control application market in the global automotive solenoid market is estimated to be the largest, primarily due to growing government regulations for fuel efficient vehicles in developing nations.
“Asia pacific market plays a key role in the growth of the automotive solenoid market”
The Asia-Pacific region consists of major automotive vehicle manufacturing companies in countries such as China, Japan, India, and South Korea, which supports the growth of the automotive solenoid market. The Asia-Pacific region is estimated to be the fastest growing market, by volume, for the automotive solenoid market in 2017. The region has manufacturers such as Hitachi Ltd. (Japan), Mitsubishi Electric Corporation (Japan), Nidec Corporation (Japan), Padmini VNA Mechatronics Pvt Ltd (India), Johnson Electric Holdings Ltd. (China), and Global Point Magnetics Asia Co. Ltd. (China).
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type – Tier 1 – 52 %, Tier 2 – 27%, Tier 3 – 21%
- By Designation – C level – 47%, D level – 37%, Others – 16%
- By Region – Asia-Pacific – 42%, North America – 30%, Europe – 18%, RoW – 10%
Major players profiled in the report are:
- Robert Bosch GmbH (Germany)
- Hitachi Ltd. (Japan)
- Mitsubishi Electric Corporation (Japan)
- Continental AG (Germany)
- Johnson Electric Holding (China)
- BorgWarner (U.S.)
- Delphi Automotive PLC (U.K.)
The report segments the market on the basis of region, vehicle, electric vehicle (BEV, HEV, PHEV, and FCEV), application, function (fluid control, gas control, and motion control), valve design, function and region. The study covers the global automotive solenoid market, in terms of volume (units) and value (USD million). It also provides an overview of technical factors and other important aspects of the global automotive solenoid market.
Reasons to Buy the Report:
- The report provides insights about the following points:
- Market Penetration: The report provides comprehensive information about the global automotive solenoid market offered by the top 13 players in the market.
- Product Development/Innovation: The report gives detailed insights into upcoming technologies, R&D activities, and new system launches in the global automotive solenoid market.
- Market Development: It provides comprehensive information about types, functions, and applications of automotive solenoid. The report analyzes the market for automotive solenoid in multiple regions.
- Market Diversification: The report offers exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive solenoid market.
- Competitive Assessment: It offers in-depth assessment of the market shares, strategies, products, and manufacturing capabilities of leading players in the automotive solenoid market.