Nov 25, 2020, 07:12 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 25, 2020, 07:12 /Comserve / -- Global Automotive Solenoid Market is valued approximately USD 4.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.82 % over the forecast period 2020-2027.
Global Automotive Solenoid Market is valued approximately USD 4.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.82 % over the forecast period 2020-2027. A solenoid is used as starter solenoid in automobiles. The solenoid on the starter is above the starter motor. It receives a large electrical current from the automotive battery, and from the ignition relay a small electrical current. The small current is the control current in response to which the solenoid sends the electrical current from the battery to the starter motor, leading to movement of the engine.
Automotive Solenoid Market is driven by the increase in demand for advanced automation systems, which provides high fuel efficiency and reduces the engine without affecting the overall effectiveness of the engine, the increase in demand to conserve and use electricity in a way that does not affect the fuel efficiency, Engine Downsizing Trend. The market is primarily driven by the production of Passenger Vehicles. For instance: According to Organization of motor vehicle manufacturers, in 2018, the production of passenger car in 2018 were 70498388 units as compare to 73456531 units in 2017. However, Low global preference for diesel passenger cars is the restrictions affecting this market.
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The regional analysis of global Automotive Solenoid Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of Increased demand for electricity to be conserved and used in a way which does not affect fuel efficiency. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as Increased demand for advanced automation systems which provide high fuel efficiency and lower engine efficiency would create lucrative growth prospects for the Automotive Solenoid Market across Asia-Pacific region.
Major market player included in this report are:
Delphi Automotive PLC
Robert Bosch GmbH
Johnson Electric Group
Wabco Holdings Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Valve Design:
Engine Control and Cooling System
Fuel and Emission Control
Body Control and Interiors
Safety and Security
By Vehicle Type:
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
By Electric Vehicle Type:
Rest of the World
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The report includes the challenges that are affecting the growth of the industry and offers strategi
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