Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Automotive Solenoid Market Size to Reach USD 9.8 Billion by 2034, Driven by Adoption of Smart Solenoids with Advanced Features and Growing at CAGR 6.3% | TMR

This image opens in the lightbox

News provided by

Transparency Market Research

22 Jul, 2024, 14:15 GMT

Share this article

Share toX

Share this article

Share toX

The rising demand for advanced and automated vehicles, including electric vehicles and hybrid vehicles, is driving the need for more sophisticated solenoid components.

WILMINGTON, Del., July 22, 2024 /PRNewswire/ -- The automotive solenoid market was projected to attain US$ 5.0 billion in 2023. It is likely to garner a 6.3% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 9.8 billion.

Continuous advancements in solenoid technology, such as the development of compact and energy-efficient solenoids, are enhancing their adoption in the automotive industry. The shift towards electric and hybrid vehicles is a significant trend, as these vehicles require advanced solenoids for various applications, including battery management and regenerative braking systems.

The integration of solenoids in various safety and comfort features, such as anti-lock braking systems (ABS), electronic stability control (ESC), and automatic transmission systems, is on the rise. Automakers are increasingly focusing on lightweight and compact components to improve fuel efficiency, leading to the adoption of smaller and more efficient solenoids.

Request a PDF Sample of this Report Now!
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27458 

The adoption of smart solenoids with advanced features, such as self-diagnostics and real-time monitoring, is gaining traction in the automotive industry. Increased investment in research and development to create advanced solenoid technologies can provide a competitive edge and drive market growth.

The proliferation of ADAS features like adaptive cruise control, lane departure warning systems, and automated parking systems requires reliable solenoid components for precise control and actuation. The rise of connected vehicles, enabled by IoT (Internet of Things) technology, demands solenoids for applications such as remote vehicle diagnostics, telematics, and vehicle-to-vehicle communication.

Key Findings of Market Report

  • A trend towards replacing traditional hydraulic and pneumatic actuators with more efficient electromechanical actuators, often incorporating solenoid technology, is observed in modern vehicle designs.
  • Continuous efforts to improve the energy efficiency of automotive components, including solenoids, drive the development of low-power consumption and energy-efficient solenoid solutions.
  • The adoption of 3D printing technology for manufacturing solenoid components allows for rapid prototyping and customization, facilitating innovation in solenoid design and performance.
  • Increasing emphasis on durability, reliability, and extended lifespan of automotive solenoids to meet stringent performance requirements and ensure long-term operational reliability.

Market Trends for Automotive Solenoid

  • By function, the motion control segment is expected to boost the growth of the automotive solenoid market. The shift towards electric and hybrid vehicles necessitates advanced solenoid technologies for precise control of actuators in systems like electric power steering, electronic stability control, and active suspension systems.
  • Increasing consumer demand for vehicles with advanced driver assistance systems and autonomous driving features requires solenoids for actuating components such as braking systems, throttle valves, and transmission systems.
  • On the basis of material, the stainless steel segment is anticipated to propel the market growth. Stainless steel is preferred in automotive solenoids due to its excellent durability, corrosion resistance, and ability to withstand harsh environmental conditions, enhancing the reliability and longevity of solenoid components.

Global Market for Automotive Solenoid Report Scope:

Report Coverage

Details 

Forecast Period  

2024-2034

Base Year  

2020-2022

Size in 2023

US$ 5.0 Bn

Forecast (Value) in 2034

US$ 9.8 Bn

Growth Rate (CAGR) 

6.3 %

No. of Pages 

190 Pages 

Segments covered 

By Function, By Material, By Design, By Operation, By Pressure, by Propulsion, by Vehicle Type, by Sales Channel, By Region

Unlock Growth Potential in Your Industry! Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=27458 

Global Market for Automotive Solenoid: Regional Outlook

North America

  • North America is a significant hub for automotive manufacturing, with several major OEMs operating in the region.
  • The growing production of vehicles, including traditional internal combustion engine vehicles and electric vehicles, drives the demand for automotive solenoids.
  • There is a strong consumer demand in North America for vehicles equipped with advanced safety features and enhanced comfort features.
  • Solenoids are integral to systems like adaptive cruise control, electronic stability control (ESC), and automated transmission systems, which contribute to vehicle safety and comfort.

Asia Pacific

  • There is a growing adoption of ADAS in Asia Pacific, driven by increasing awareness about vehicle safety and regulatory mandates.
  • Solenoids are integral to ADAS functions such as adaptive cruise control, lane departure warning systems, and automated braking systems.
  • Many automotive OEMs and solenoid manufacturers are establishing or expanding their manufacturing facilities in Asia Pacific to cater to local demand and improve supply chain efficiency.
  • This localization supports the growth of the solenoid market in the region.

Automotive Solenoid Market: Key Players

The competitive landscape of the automotive solenoid market is characterized by a mix of global and regional players, each striving to enhance their market presence through technological advancements, strategic collaborations, and geographic expansion.

The following companies are well known participants in the automotive solenoid market:

  • BorgWarner Inc.
  • DENSO CORPORATION
  • Emerson Electric Co.
  • GIDEON Automotive Industries
  • GKN Automotive Limited
  • Hitachi Astemo Ltd
  • Johnson Electric Holdings Limited
  • Kendrion N.V.
  • MAHLE GmbH
  • Mitsubishi Electric Corporation
  • Others

Key Developments

  • In 2022, Spartan Scientific, a leading manufacturer of high-quality fluid and pneumatic automation components, introduced the 6700 diaphragm valve to its range of newly engineered solenoid valves. This valve is available in ¾" and 1.0" NPT port configurations to accommodate various system requirements.
  • In the same year, Atar Capital, a Los Angeles-based private investment firm, announced the completion of its acquisition of BorgWarner's North American Controls (BWNAC) business. BWNAC is a leading supplier of transmission solenoids, engine solenoids, stop-start accumulators, and hydraulic control modules in North America.

Automotive Solenoid Market Segmentation

Function

  • Fluid Control
  • Gas Control
  • Motion Control

Material

  • Brass
  • Stainless Steel
  • Aluminum
  • Plastics
  • Others

Design

  • Transmission
  • Steering Systems
  • Suspension Systems
  • HVAC/Thermal Management Solenoid Valves
  • Emission After-treatment Systems
  • Engine Control & Cooling Systems
  • Body Control & Interiors
  • Safety & Security
  • Locking Systems
  • Others

Operation

  • Direct Operated
  • Indirect (Pilot) Operated
  • Semi-direct Operated

Pressure

  • Less than 15 psi
  • 15.1 - 30 psi
  • 31 - 60 psi
  • More than 60 psi

Propulsion

  • IC Engine
    • Gasoline
    • Diesel
  • Electric
    • Battery Electric
    • Plug-in Hybrid Electric
    • Fuel Cell Electric

Vehicle Type

  • Two Wheelers
  • Three Wheelers
  • Passenger Vehicles
    • Hatchbacks
    • Sedans
    • SUVs
  • Light Commercial Vehicles
  • Heavy Duty Trucks
  • Buses & Coaches
  • Off-road Vehicles
    • Agriculture Tractors & Equipment
    • Construction & Mining Equipment

Sales Channel

  • OEMs
  • Aftermarket

Region

  • North America
  • South America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=27458&ltype=S 

More Trending Reports by Transparency Market Research –

  • Europe Automotive Camera Washers Market - The global Europe automotive camera washers market is projected to advance at a CAGR of 20.95% from 2023 to 2031
  • Online Vehicle Retail Market - The global online vehicle retail market is projected to expand at a CAGR of 6.6% during the forecast period from 2024 to 2034
  • Nanocellulose Technology Market is estimated to advance at a CAGR of 22.7% from 2023 to 2031 and reach US$ 2.2 Bn by the end of 2031
  • Biodegradable Chelating Agents Market - Advantageous qualities of GLDA are boosting the revenue for the global market, which is estimated to reach a value of US$ 1 Bn by the end of 2027.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Email: sales@transparencymarketresearch.com
Follow Us:
LinkedIn| Twitter| Blog | YouTube

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

Modal title

Also from this source

Ultra-high Purity Anhydrous Hydrogen Chloride (HCl) Gas Market to Reach USD 5.7 Billion by 2031, Expanding at a CAGR of 5.4% | TMR Report

Ultra-high Purity Anhydrous Hydrogen Chloride (HCl) Gas Market to Reach USD 5.7 Billion by 2031, Expanding at a CAGR of 5.4% | TMR Report

Over the last year, several companies have announced new semiconductor fabrication sites, especially in the U.S., India, and Europe. These...

Silicon Metal Market Size Projected to Expand to USD 10.7 Billion by 2031 Exhibiting 5.1% CAGR: Transparency Market Research, Inc.

Silicon Metal Market Size Projected to Expand to USD 10.7 Billion by 2031 Exhibiting 5.1% CAGR: Transparency Market Research, Inc.

The market was valued at US$ 6.9 billion in 2022. The Silicon Metal Market Growth is estimated to reach US$ 10.7 billion by the end of 2031,...

More Releases From This Source

Explore

Automotive

Automotive

Transportation, Trucking & Railroad

Transportation, Trucking & Railroad

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.