Automotive Solenoid Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
The Global Automotive Solenoid Market, valued at USD 4.7 billion in 2023, is expected to grow at a CAGR of 7.1% from 2024 to 2032. The rise in electric and hybrid vehicle (EV and HEV) adoption is a key driver behind this growth, as solenoids play a crucial role in controlling fluid and gas flow, thermal management, and power distribution in these vehicles. The increasing focus on reducing emissions and promoting greener transportation options further propels demand for automotive solenoids. Governments worldwide are implementing stricter emission regulations, pushing automakers to obtain fuel-effective and eco-friendly vehicles. Solenoids are vital in systems like fuel injection and engine management, providing precise control over fuel delivery and combustion, which in turn improves fuel efficiency and reduces emissions.
In EVs and HEVs, solenoids are also essential for optimizing battery performance and managing thermal systems, contributing to overall emission reduction efforts. In terms of vehicle types, the passenger vehicle segment held over 65% of the market share in 2023, projected to surpass USD 5.5 billion by 2032. The dominance of this segment is largely due to the high volume of passenger car sales, especially in regions like Asia-Pacific, North America, and Europe. The increasing demand for fuel-efficient vehicles equipped with advanced technologies, including automated transmission, engine management, and emission control systems, is driving the adoption of solenoids in this category. From a functional perspective, the fluid control segment accounted for about 53% of the market in 2023. Solenoids used in fluid control are critical to key vehicle systems such as fuel injection, transmission, braking (ABS), and HVAC.
Their ability to regulate fluid flow precisely makes them indispensable for optimizing vehicle performance, enhancing fuel efficiency, and meeting stringent emission standards. The rising adoption of fuel-efficient technologies and tightening global emission regulations further bolster demand for advanced solenoids, particularly in internal combustion engine (ICE) vehicles. The Asia-Pacific region dominated the automotive solenoid market, holding more than 45% of the market share in 2023, with projections to exceed USD 4 billion by 2032. China, as the largest producer and consumer of automobiles globally, leads the region’s demand for solenoids across various automotive applications. The country's strong push towards emission reduction and fuel-efficient technologies is driving the need for advanced solenoid systems in areas like transmission, engine management, and emission control systems.
In EVs and HEVs, solenoids are also essential for optimizing battery performance and managing thermal systems, contributing to overall emission reduction efforts. In terms of vehicle types, the passenger vehicle segment held over 65% of the market share in 2023, projected to surpass USD 5.5 billion by 2032. The dominance of this segment is largely due to the high volume of passenger car sales, especially in regions like Asia-Pacific, North America, and Europe. The increasing demand for fuel-efficient vehicles equipped with advanced technologies, including automated transmission, engine management, and emission control systems, is driving the adoption of solenoids in this category. From a functional perspective, the fluid control segment accounted for about 53% of the market in 2023. Solenoids used in fluid control are critical to key vehicle systems such as fuel injection, transmission, braking (ABS), and HVAC.
Their ability to regulate fluid flow precisely makes them indispensable for optimizing vehicle performance, enhancing fuel efficiency, and meeting stringent emission standards. The rising adoption of fuel-efficient technologies and tightening global emission regulations further bolster demand for advanced solenoids, particularly in internal combustion engine (ICE) vehicles. The Asia-Pacific region dominated the automotive solenoid market, holding more than 45% of the market share in 2023, with projections to exceed USD 4 billion by 2032. China, as the largest producer and consumer of automobiles globally, leads the region’s demand for solenoids across various automotive applications. The country's strong push towards emission reduction and fuel-efficient technologies is driving the need for advanced solenoid systems in areas like transmission, engine management, and emission control systems.
Report Content
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Raw material suppliers
3.2.2 Solenoid manufacturers
3.2.3 Automotive suppliers
3.2.4 Original equipment manufacturers (OEMs)
3.2.5 Aftermarket suppliers and distributors
3.3 Profit margin analysis
3.4 Cost analysis
3.5 Technology & innovation landscape
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 The shift toward electric and hybrid vehicles
3.8.1.2 Rising demand for fuel efficiency and emission reduction
3.8.1.3 Growing adoption of advanced safety features
3.8.1.4 Technological advancements in automotive technology
3.8.2 Industry pitfalls & challenges
3.8.2.1 Rising material costs
3.8.2.2 Competition from electronic controls
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY VALVE DESIGN, 2021 - 2032 ($BN, UNITS)
5.1 Key trends
5.2 2-way valve
5.3 3-way valve
5.4 4-way valve
5.5 5-way valve
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2032 ($BN, UNITS)
6.1 Key trends
6.2 Passenger vehicles
6.3 Light commercial vehicles (LCV)
6.4 Heavy commercial vehicles (HCV)
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021 - 2032 ($BN, UNITS)
7.1 Key trends
7.2 Engine control
7.3 Fuel & emission control
7.4 Transmission control
7.5 Braking system
7.6 Body control & interiors
7.7 HVAC system
7.8 Others
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY FUNCTION, 2021 - 2032 ($BN, UNITS)
8.1 Key trends
8.2 Motion control
8.3 Fluid control
8.4 Gas control
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY SALES CHANNEL, 2021 - 2032 ($BN, UNITS)
9.1 Key trends
9.2 OEMs (original equipment manufacturers)
9.3 Aftermarket
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 - 2032 ($BN, UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Spain
10.3.5 Italy
10.3.6 Russia
10.3.7 Nordics
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
CHAPTER 11 COMPANY PROFILES
11.1 Aisin Seiki
11.2 BorgWarner
11.3 Bosch
11.4 Continental
11.5 Denso
11.6 Eaton
11.7 GKN Automotive
11.8 Hitachi Astemo
11.9 Infineon Technologies
11.10 Johnson Electric
11.11 Keihin
11.12 Mahle
11.13 Marelli
11.14 Mitsubishi Electric
11.15 Nidec Corporation
11.16 Parker Hannifin
11.17 Schneider Electric
11.18 TDK Corporation
11.19 Tenneco
11.20 Valeo
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry 360° synopsis, 2021 - 2032
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Raw material suppliers
3.2.2 Solenoid manufacturers
3.2.3 Automotive suppliers
3.2.4 Original equipment manufacturers (OEMs)
3.2.5 Aftermarket suppliers and distributors
3.3 Profit margin analysis
3.4 Cost analysis
3.5 Technology & innovation landscape
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 The shift toward electric and hybrid vehicles
3.8.1.2 Rising demand for fuel efficiency and emission reduction
3.8.1.3 Growing adoption of advanced safety features
3.8.1.4 Technological advancements in automotive technology
3.8.2 Industry pitfalls & challenges
3.8.2.1 Rising material costs
3.8.2.2 Competition from electronic controls
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
CHAPTER 5 MARKET ESTIMATES & FORECAST, BY VALVE DESIGN, 2021 - 2032 ($BN, UNITS)
5.1 Key trends
5.2 2-way valve
5.3 3-way valve
5.4 4-way valve
5.5 5-way valve
CHAPTER 6 MARKET ESTIMATES & FORECAST, BY VEHICLE, 2021 - 2032 ($BN, UNITS)
6.1 Key trends
6.2 Passenger vehicles
6.3 Light commercial vehicles (LCV)
6.4 Heavy commercial vehicles (HCV)
CHAPTER 7 MARKET ESTIMATES & FORECAST, BY APPLICATION, 2021 - 2032 ($BN, UNITS)
7.1 Key trends
7.2 Engine control
7.3 Fuel & emission control
7.4 Transmission control
7.5 Braking system
7.6 Body control & interiors
7.7 HVAC system
7.8 Others
CHAPTER 8 MARKET ESTIMATES & FORECAST, BY FUNCTION, 2021 - 2032 ($BN, UNITS)
8.1 Key trends
8.2 Motion control
8.3 Fluid control
8.4 Gas control
CHAPTER 9 MARKET ESTIMATES & FORECAST, BY SALES CHANNEL, 2021 - 2032 ($BN, UNITS)
9.1 Key trends
9.2 OEMs (original equipment manufacturers)
9.3 Aftermarket
CHAPTER 10 MARKET ESTIMATES & FORECAST, BY REGION, 2021 - 2032 ($BN, UNITS)
10.1 Key trends
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 UK
10.3.2 Germany
10.3.3 France
10.3.4 Spain
10.3.5 Italy
10.3.6 Russia
10.3.7 Nordics
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 ANZ
10.4.6 Southeast Asia
10.5 Latin America
10.5.1 Brazil
10.5.2 Mexico
10.5.3 Argentina
10.6 MEA
10.6.1 UAE
10.6.2 South Africa
10.6.3 Saudi Arabia
CHAPTER 11 COMPANY PROFILES
11.1 Aisin Seiki
11.2 BorgWarner
11.3 Bosch
11.4 Continental
11.5 Denso
11.6 Eaton
11.7 GKN Automotive
11.8 Hitachi Astemo
11.9 Infineon Technologies
11.10 Johnson Electric
11.11 Keihin
11.12 Mahle
11.13 Marelli
11.14 Mitsubishi Electric
11.15 Nidec Corporation
11.16 Parker Hannifin
11.17 Schneider Electric
11.18 TDK Corporation
11.19 Tenneco
11.20 Valeo
