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Automotive Solenoid Market Size to Surpass USD 7.54 Billion by 2029, at a 7.35% CAGR from 2022 to 2029

Automotive Solenoid Market

Automotive Solenoid Market

Automotive Solenoid Market Growth Insights 2023, Estimated Size, global Share, Risk and Challenges, Business Overview, Competitive Landscape Forecast up to 2029

The automotive solenoid market is experiencing robust growth, fueled by increasing vehicle electrification, advancements in automotive technology, and marking a promising upward trajectory.”
— Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 30, 2023 / -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Solenoid Analysis Report.

According to a Comprehensive Research Report by Exactitude Consultancy, “Automotive Solenoids Market by Vehicle Type, by Application, by Function (Fluid control, gas control, motion control), by Valve Design (2 way valve, 3 way valve, 4 way valve, 5 way valve) and Region, Global trends and forecast from 2022 to 2029”, The global Automotive Solenoids Market is expected to grow at a 7.35% CAGR from 2022 to 2029. It is expected to reach above USD 7.54 billion by 2029 from USD 4.04 billion in 2020.

Automotive Solenoid report covers extensive analysis of the key market players, along with their expansion plans, business overview, and strategies. The key players studied in the report include: Robert Bosch GmbH, Hitachi Ltd., Mitsubishi Electric Corporation, MAHLE Group, Johnson Electric, BorgWarner, Flex Ltd., Denso Corporation, BorgWarner Inc., TLX Technologies

Download Sample PDF Brochure of Automotive Solenoid Market:

Note – This Report Sample Includes:

✔ A summary of the research work.

✔ Table of Contents The study’s depth of coverage

✔ Market participants at the forefront

✔ The research framework of the report’s structure

✔ Exactitude Consultancy’ research methodology

Recent Developments

In October 2020, ZF Friedrichshafen AG completely acquired ZF Sachs Micro Mobility GmbH, which has become its wholly owned subsidiary and a part of its Industrial Technology Division. The previous shareholders, BMZ Batterien-Montage-Zentrum GmbH and Gustav Magenwirth GmbH & Co. KG, transferred their shares to ZF Friedrichshafen AG. ZF Sachs Micro Mobility GmbH manufactures traction motors and related products for micro-mobility (e-bikes & bicycles).

In July 2020, BluE Nexus Corporation (a joint venture between Aisin Seiki Co., Ltd. and DENSO Corporation) and Toyota Motor Corporation announced a collaboration wherein both companies utilize their core competencies to increase their competitiveness in products related to vehicle electrification. The collaboration will utilize Toyota's control calibration technologies for engines, batteries, and other major peripheral components and BluE Nexus's well-developed lineup of electric drive modules. Toyota announced that it would provide investment for new advanced products by taking a 10 percent stake in BluE Nexus.

In January 2019, Robert Bosch GmbH (Bosch) announced the complete acquisition of EM-motive GmbH that was set up as a fifty-fifty joint venture in 2011 between Bosch and Daimler. By the time of the acquisition, EM-motive GmbH had manufactured around 450,000 electric motors that were installed in electric vehicles of companies like Daimler, Porsche, Fiat, Volvo, Peugeot, etc.

Some points on how the report benefits stakeholders:

✔ The Automotive Solenoid Market reports include historical (2018–2020) and forecast (2022–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.

✔ The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.

✔ Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.

✔ The Automotive Solenoid Industry report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.

✔ The report contains company profiles of the top companies operating in the Automotive Solenoid market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

✔ Automotive Solenoid Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.

Browse Full Premium Report | Automotive Solenoid Market Analysis with Strategic Developments

What are the market factors explained in the report?

Key Strategic Developments: The study includes key strategic developments of the Automotive Solenoid, comprising R&D, new product launch, mergers and acquisitions, agreements, partnerships, collaborations, joint ventures, and regional growth of key competitors operating in the market globally and region.

Key Market Features: The report analyzed key market features including price, revenue, capacity, supply/demand, capacity utilization rate, gross production, production rate, market share, consumption, import/export, cost, CAGR and gross margin. Furthermore, the report also offers a comprehensive study of the key Automotive Solenoid dynamics and its latest trends, along with relevant market segments and sub-segments.

Analytical Tools: The Global Outsourced Automotive Solenoid report includes accurately researched and analyzed data on the key industry players and their scope in the market through various analytical tools. Analytical tools such as Porter's five forces analysis, feasibility study, and ROI analysis have been used to analyze the growth of the key players operating in the market.

Regional Analysis

The Automotive Solenoid market by region includes Asia-Pacific (APAC), North America, Europe, South America, and Middle East & Africa (MEA).

North America: includes the US, Canada, Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and the Rest of MEA

Europe is expected to witness significant growth during the forecast period.

It's estimated that nations like Germany, France, Spain, and the UK dominate the European region. Growth prospects for automotive solenoids in the region are provided by the presence of OEMs like AB Volvo (Sweden), Renault (France), Daimler (Germany), and Volkswagen (Germany). European automakers control nearly half of the world's R&D expenditures, with companies like Daimler, BMW, and Continental leading the way.

The area is one of the biggest markets for passenger cars, especially for high-end vehicles (C segment and up). The high purchasing power of European consumers is responsible for the high volume of premium car sales. Parts like solenoids and actuators can help achieve the goals of reduced emissions, automated applications, and opulent features that have been highlighted by the demand for premium cars.

Frequently Asked Questions

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About Exactitude Consultancy

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