DUBLIN, June 12, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Automotive Solenoid Market by Application (Body Control & Interiors, Engine Control & Cooling System), Vehicle Type (PC, LCV, HCV), Electric Vehicle Type (BEV, HEV, PHEV, FCEV), Valve Design, Function and Region - Global Forecast to 2022" report to their offering.
The automotive solenoid market, in terms of value, is projected to grow at a CAGR of 8.82% from 2017 to 2022. The market is estimated to be USD 4.13 Billion in 2017, and is projected to reach USD 6.30 Billion by 2022.
The market growth is triggered by various factors such as rising demand for automation in vehicles as well as the increasing vehicle production globally.
The body control and interiors segment of the automotive solenoid market is estimated to account for the largest market share, in terms of value, in 2017. This segment leads the automotive solenoid market due to its application in all automotive vehicles passenger vehicle or commercial vehicle that roll out of the manufacturing unit. The second largest market, by application, in 2017 is the engine control and cooling system, followed by fuel and emission control.
The motion control function segment is estimated to grow at the highest CAGR in the automotive solenoid market due to the increasing automation of body control applications inside a vehicle.
The Asia-Pacific region is estimated to dominate the automotive solenoid market, in terms of value, in 2017. The region comprises some of the fastest developing economies in the world, including China, India, and South Korea. This has led to an increase in automotive solenoid volumes in recent years, with OEMs catering not only to the domestic demand but to overseas demand as well. North America is estimated to be the fastest growing market due to increasing production of passenger cars and electric vehicles.
The automotive solenoid market is a matured market where, most of the vehicles have to be equipped with automotive solenoids, in-order to control motion, gases, and fluids in automotive. One of the restraints that may affect the automotive solenoid market is the low preference of diesel passenger cars globally, which creates restraints to the automotive solenoids such as wastegate, VGT, and EGR.
Continental AG is a major player in the automotive solenoid market and has a strong product offering, especially for the OE market as compared to aftermarket. The company follows a balanced business strategy with a mix of organic and inorganic business strategies. The recent acquisition of Emitec Emission Control Technologies will provide Continental with an inclusive portfolio of exhaust-gas after treatment systems including metallic catalyst substrates, particle filters, and dosing modules for selective catalytic reduction (SCR). The company will likely dominate the global automotive solenoid market in the coming years.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market 0verview
6 Automotive Solenoid Market, By Valve Design
7 Automotive Solenoid Market, By Application
8 By Function
9 Automotive Solenoid Market, By Vehicle Type
10 Automotive Solenoid Market, By Electric Vehicle Type
11 Automotive Solenoid Market, By Region
12 Competitive Landscape
13 Company Profiles
- Bitron Industries S.P.A
- Borgwarner Inc.
- Continental Ag
- Delphi Automotive PLC
- Denso Corporation
- Global Point Magnetics Asia Co. Ltd.
- Hitachi Ltd.
- Husco International
- Johnson Electric Holdings Limited
- Kendrion Nv
- Magnet - Schultz GmbH & Co. Kg
- Mitsubishi Electric Corporation
- Mvd Auto Components Pvt. Ltd.
- Nidec Corporation
- Padmini Vna Mechatronics Pvt. Ltd.
- Parker Hannifin Corporation
- Robert Bosch GmbH
- Rotex Automation
- Schaeffler Ag
- Stoneridge Inc.
- Tlx Technologies
- Wabco Holdings Inc.
For more information about this report visit http://www.researchandmarkets.com/research/52znvx/automotive
Laura Wood, Senior Manager
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SOURCE Research and Markets