Automotive Solenoid Market trends research and projections for 2017-2024

Press Release   •   Aug 08, 2017 03:34 EDT

The Automotive Solenoid Market trends are analyzed from recent past with an eye on coming years in this report that also offers projections for Automotive Suspension industry targeted at helping in business decisions. Increased purchasing power has helped consumers to opt for lavish facilities in automobiles. Expansion of manufacturing facilities in emerging economies by OEMs will boost automotive solenoid market.

Increasing population in India and China has augmented product demand. Advancement in infrastructure and growing consumer sentiments have driven demand for automobiles and anticipated to fuel automotive solenoid market.

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Automotive solenoids are part of automobiles that helps in amplifying various process, thus improving overall vehicle’s performance. These are employed for pedestrian safety and selective catalytic reduction systems in vehicles. It is compact in size that increases interior space by around 25% and has response time as low as 200 microseconds. Solenoids have high temperature tolerance, durability and require low power consumption that increases vehicle life.

The variation in automobiles sales with fluctuating economies may challenge its growth. Their use in automobiles increases the overall cost but have greater advantage that gives an overall positive outlook for product demand. Passenger cars have major share with growing need of personal cars and cabs. Rise in private cab facilities, rapid increase in sales of compact and sub compact cars shall enhance its consumption.

LCV and HCV have moderate share and expected to show substantial growth with rise in demand of fuel efficient automobiles. Further, requirement of better suspension and hydraulic transmission shall enhance its use. Based on electric vehicles, these are classified as hybrid electric (HEV), plug in hybrid (PHEV) and battery electric vehicles (BEV).

Engine control systems are attractive segment with its requirement in almost all the vehicles and growing automation. Stringent regulations regarding vehicular emissions for diesel engines shall motivate its employment in fuel & emission control that filters fuel and checks particulate present in exhaust. Further, rise in demand for air conditioners in automobiles shall propel cooling and HVAC system.

Automotive solenoid performs various functions including, fluid, gas and motion control. Motion control has major share owing to its wide usage in body control and safety & security of vehicles. Additionally, based on valve design, it is classified into 2-way, 3-way, 4-way and 5-way valves. Use of valve depends on type of engine and fuel supply in vehicles.

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Europe, led by Germany has moderate share in automotive solenoid market due to well-established and flourishing automobile industry, with presence of big players namely Volkswagen and Audi. Middle East & Africa has nascent share and anticipated to show moderate growth with rising income levels. This region hosts after sales companies’ due to absence of OEMs.

Automotive solenoid market is fragmented with presence of many regional players in the industry. Prominent players include Robert Bosch, Mitsubishi Electric, Denso Corporation, Husco International, Lockcraft, TLX Technologies, Nidec Corporation, Kendrion, Hitachi, Delphi, BorgWarner and Johnson Electric Holding.

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