Global Automotive Solenoid Market Outlook
Revenue, 2024
$6.4B
Forecast, 2034
$14.4B
CAGR, 2024 - 2034
8.4%
The Automotive Solenoid industry revenue is expected to be around $7.0 billion in 2025 and expected to showcase growth with 8.4% CAGR between 2025 and 2034. Central, to this evolution is the Automotive Solenoid. A powerful electromechanical component set to revolutionize car engineering by ensuring smoother and more dependable vehicle functionalities.
The Automotive Solenoid is a part of today's cars that showcases advanced technology with its strong build quality and ability to provide precise control over various functions in vehicles, like fuel injection and gear shifting.
Market Key Insights
- The Automotive Solenoid market is projected to grow from $6.4 billion in 2024 to $14.4 billion in 2034. This represents a CAGR of 8.4%, reflecting rising demand across Engine Control Unit (ECU), Body Control Solenoid and Transmission Control Solenoid.
- The market leaders include Robert Bosch GmbH and Hitachi Ltd. and Mitsubishi Electric Corporation which determine the competitive dynamics of this sector.
- U.S. and Germany are the top markets within the Automotive Solenoid market and are expected to observe the growth CAGR of 6.1% to 8.8% between 2024 and 2030.
- Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 8.1% to 10.5%.
- The market for automotive solenoids will receive a $1.1 billion boost from the transition to electric vehicles by 2030.
- The Automotive Solenoid market is set to add $8.0 billion between 2024 and 2034, with manufacturer targeting Security & Comfort & Transmission Control Application projected to gain a larger market share.
- With Increasing vehicle production, and Technological advancements, Automotive Solenoid market to expand 124% between 2024 and 2034.
Opportunities in the Automotive Solenoid
The rise of transportation systems is becoming more prominent within the connected vehicle network as it involves connections among vehicles themselves and, with infrastructure using sophisticated automation controlled by solenoID technology.
Growth Opportunities in North America and Europe
North America Outlook
In North America's automotive solonoid sector is quite advanced and competitive due to progress and the presence of top car manufacturers driving it forward greatly enriched by the need, for fuel efficient cars pushing companies to embrace cutting edge solonoids and fostering market expansion with strict emission regulations serving as another key driving force pushing boundaries in innovation even more so.
Europe Outlook
Europe's automotive solenoid market is also experiencing robust growth, largely due to high demand from the OEM segment and increasing focus on electric vehicles. The strong presence of luxury vehicle manufacturers who require high-performance solenoids for enhanced functionality further drives the market. In terms of competition, the European market is marked by the presence of a good mix of large multinational corporations and innovative smaller entities.
Market Dynamics and Supply Chain
01
Driver: Increasing Vehicle Production, and Shift towards Electric Vehicles
The increasing production of vehicles globally plays a role in driving the growth of the automotive solenoide market forward as demand for automotive solenoide rises alongside the surge, in vehicle manufacturing activities. The worldwide trend towards embracing cars presents significant growth prospects for the automotive solinoid industry. Through incorporating solinoids in vehicles for various uses, like battery management and temperature regulation the market expansion is also being promoted.
The rise of cutting edge technologies like Electronic Control Unit and Engine Control Modules is also playing a role in propelling the automotive solenoide market forward by necessitating the use of solonoids in their operations and therefore elevating the demand, for solonoids within the industry.
The rise of cutting edge technologies like Electronic Control Unit and Engine Control Modules is also playing a role in propelling the automotive solenoide market forward by necessitating the use of solonoids in their operations and therefore elevating the demand, for solonoids within the industry.
02
Restraint: Price Sensitivity in Emerging Markets
Emerging markets, specifically in Asia and Africa, present significant growth opportunities for the Automotive Solenoid market. However, extreme price sensitivity among customers in these regions acts as a major restraint. The high initial investment and maintenance costs related to automotive solenoids often deter price-sensitive clients from investing, thus posing a significant market challenge.
03
Opportunity: Electrification of Automobiles and Advancements in Autonomous Vehicles
The car industry today is moving more and more towards embracing vehicles . This shift is driven by growing awareness and the progress in battery technology. Leading to a new market demand for automotive solneoids that play a key role in the complex electrical setups of EVs by managing circuits and switches. As the production and ownership of EVs rise significantly its clear that there is a rising need, for solneoids giving rise to plentiful market prospects ahead.
Self driving cars are quickly becoming a part of our reality sooner than expected. These cars heavily depend upon a system of sensors and actuators in which solinoids have a crucial function to play. There are prospects for automotive solinoids in this domain. Not only in terms of existing technology but also, with the ongoing advancements and enhancements that these vehicles will necessitate.
Self driving cars are quickly becoming a part of our reality sooner than expected. These cars heavily depend upon a system of sensors and actuators in which solinoids have a crucial function to play. There are prospects for automotive solinoids in this domain. Not only in terms of existing technology but also, with the ongoing advancements and enhancements that these vehicles will necessitate.
04
Challenge: Technological Redundancy
The fast progress of technology, in the sector brings both opportunities and challenges to the Automotive Solonoid market as it can lead to growth but also poses a risk of rendering current models outdated swiftly when newer and more advanced options emerge.
Supply Chain Landscape
1
Raw Material Suppliers
Kompass
JX Nippon
ArcelorMittal
2
Component Producers
Bosch
Denso
Mitsubishi Electric
3
Manufacturers
Hitachi
Johnson Electric
BorgWarner
4
End Users
Ford
General Motors
Toyota
1
Raw Material Suppliers
Kompass
JX Nippon
ArcelorMittal
2
Component Producers
Bosch
Denso
Mitsubishi Electric
3
Manufacturers
Hitachi
Johnson Electric
BorgWarner
4
End Users
Ford
General Motors
Toyota
*The illustration highlights the key stakeholders within the supply chain ecosystem.
Applications of Automotive Solenoid in Engine Control Unit (ECU), Body Control & Transmission Control
Engine Control Unit (ECU)
In the realm of automobile engine control systems automotive solenoIDs play a role. They are employed in the Engine Control Unit to finely regulate the fuel and air mixture enhancing fuel efficiency and cutting down emissions. A prominent player in the market Bosch stands out for its expertise in manufacturing ECU systems effectively leveraging solenoIDs, for smooth operations.
Transmission Control Solenoid
Automotive solonoids play a role in controlling transmissions by automating gear shifts in vehicles through adjusting fluid pressure in the system to ensure seamless transitions, between gears and improve overall vehicle performance. Aisin Seiki is a global player that extensively utilizes automotive solonoids in their advanced transmission systems for this purpose.
Body Control Solenoid
Delphi Technologies makes use of body control solonoids to enhance the performance of vehicle features like power windows and seat controls for a smoother user experience and easy operation without any hassle, in their products.
Recent Developments
December 2024
Bosch extended its production facilities in Asia, leveraging high growth rates for electric vehicles in the region to increase its solenoid sales
October 2024
Denso Corporation has introduced a lineup of automotive solonoids tailored for hybrid and electric cars to improve fuel efficiency.
July 2024
Johnson Electric decided to grow their presence in the United States to keep up with the increasing need, for automotive solenoins.
The automotive solenioid market is experiencing growth thanks to recent technological advancements and the rising need for fuel efficient vehicles. The shift towards automation in the industry is benefiting solenioids as devices. There is an emphasis now placed on improving the energy efficiency, performance and safety features of vehicles which makes solenioids a crucial element, in driving innovation forward.
Impact of Industry Transitions on the Automotive Solenoid Market
As a core segment of the Automotive & Mobility industry,
the Automotive Solenoid market develops in line with broader industry shifts.
Over recent years, transitions such as Adoption of Electric Vehicles and Transition to Smart Automobiles have redefined priorities
across the Automotive & Mobility sector,
influencing how the Automotive Solenoid market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Adoption of Electric Vehicles
The rise of cars has transformed the automotive solenois market worldwide. The importance of vehicle control systems like solenois for peak performance cannot be overstated. With the popularity of vehicles on the rise manufacturers are, under pressure to enhance and adapt their solenois designs and operations to meet the growing demands. Solenoids play a role, in electric vehicles by operating vehicle locks and starting mechanisms as well as controlling hydraulic valves among other functions. They are players driving growth in the Automotive Solonoid industry during the EV revolution. This industry transition is expected to add $1.1 billion in the industry revenue between 2024 and 2030.
02
Transition to Smart Automobiles
The digital revolution has also impacted the sector significantly through innovations such as connected vehicles and autonomous cars becoming increasingly popular and smart vehicles being on the rise too. With these advancements in technology comes a demand for sophisticated solenoinds, in the automotive industry. As a component of a vehicles control systems Automotive Solenoinds have had to adapt and progress in alignment with this digital transformation.