An analysis of Automotive Solenoid Market has been provided in the latest report introduced by Global Market Insights, Inc. that primarily focuses on the market trends, demand spectrum, and prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.
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).
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Automotive solenoid market used in passenger cars, Light Commercial Vehicles (LCV) And Heavy Commercial Vehicles (HCV). 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. Passenger cars manufacturers are providing better functionality and services to attract more number of consumers.
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.
The product is used for different applications including engine control & cooling system, safety & security, body control & interiors, fuel & emission control and HVAC. Body control & interior application will have major share with increased utilization in passengers and commercial vehicles. They help in reduction of space consumed by auto parts that increases cabin space and improves interiors. Automotive solenoid market for Safety and security systems have significant share with an aim to reduce seriousness of injury in case of collision.
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Engine control systems are attractive segment in automotive solenoid market 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.
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.
Asia Pacific has significant share in automotive solenoid market owing to growing demand of automobiles in India, China and South Korea. Presence of key manufacturers namely Mitsubishi & Hitachi increases the availability of product. North America has substantial share with presence of OEMs that caters overseas demand as well.
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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.