The global automotive solenoid market is estimated to be USD 4.3 billion in 2021 and is projected to reach USD 6.2 billion by 2026, growing at a CAGR of 7.3% from 2021 to 2026. Asia-Pacific is estimated to lead the market during the forecast. The fact that solenoids are used in various automotive systems and features in every vehicle is expected to drive the market during the forecast.
The growth of the market is influenced by the rising demand for fuel efficient vehicles, engine downsizing trend, focus on automatic transmissions, government focus on reducing emissions, and growth of the advanced comfort & convenience features in vehicles. The market is dominated by global players such as Robert Bosch (Germany), Denso Corporation (Japan), ZF Friedrichshafen (Germany), MAHLE Group (Germany), and BorgWarner (US). These companies develop new products, adopt expansion strategies, and undertake collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive solenoid market.
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BorgWarner (Germany) is another major company in the automotive solenoid market BorgWarner provides technologies for combustion, hybrid, electric, light and commercial vehicles with high range of aftermarket products. BorgWarner Inc. has adopted strategies like new product developments, Acquisitions and supply compact in the last few years. In 2017, BorgWarner announced that it has launched its new compact cam torque actuated (CTA) variable cam timing (VCT) technology with mid-position lock in the new Subaru 1.6- to 2.0-liter BOXER engines.BorgWarner has also adopted integrated business strategies which resulted in high market presence by accruing key clients like Suzuki, Hyundai, and Jaguar land rover to mention few. In May 2020, BorgWarner along with GAC Motor to introduce its next generation of variable cam timing actuators – intelligent cam torque actuation (iCTA) – to GAC’s combustion and some models with hybrid applications. The technology operates with front-mounted variable-force solenoid controls and a center-mounted spool valve that is contained within the bolt, which mounts the phaser to the camshaft. In October 2020, BorgWarner Inc. announced the completion of its acquisition of Delphi Technologies to strengthen its capabilities and scale of electronics and power electronic products. Delphi Technologies is a global provider of automotive components. The acquisition was carried out in an all-stock transaction that values Delphi Technologies’ enterprise value at approximately USD 3.3 billion.
Robert Bosch’s mobility solutions sector is divided into gasoline systems, diesel systems, chassis systems control, electrical drives, starter motors and generators, car multimedia, automotive electronics, automotive steering, and automotive aftermarket. The company provides starter solenoid through its starter motors and generators division in the mobility solutions sector. Pilot pressure regulators, proportional solenoid, solenoid valve injector for common rail systems, and systems and components for automotive transmissions are some of the solenoid applications offered by the company for automotive industry.
Denso is the second-largest supplier to the automotive industry in terms of sales value. The company offers solenoids under various categories, such as powertrain, climate control, body electronics, driving control & safety, and information & communication. Products, such as alternators and starters, automatic transmission (AT) PWM solenoid, and AT control valve are some examples of the solenoid-related products offered by Denso Corporation. In June 2020, DENSO Corporation announced the opening of its Electrification Innovation Center (EIC) at the Anjo plant in Anjo, Aichi, Japan. The expansion supports the development and production of electrified automotive products, systems, and technologies. The EIC will consist of a development building for product development, a durability building for reliability testing, and a production plant for quickly ramping up a mass production line.
ZF Friedrichshafen, MAHLE Group, Hitachi Automotive, Nidec Corporation, and Johnson Electric are some of the other players in this market. In October 2019, Nidec Corporation completed its acquisition of OMRON Automotive Electronics Co. Ltd. The purpose of the acquisition was to complement the expertise of Nidec Corporation with that of the acquired company and achieve growth in vehicle electronics. In May 2020, ZF Friedrichshafen AG completed the acquisition of an American commercial vehicle technology supplier Westinghouse Air Brake Company (WABCO). WABCO provides commercial vehicle solutions, including an e-trailer. The objective of this acquisition is to expand the commercial vehicle service portfolio of ZF Friedrichshafen AG.
Automotive Solenoid Market by Application (Body Control & Interiors, Engine Control & Cooling System, Safety, HVAC), Vehicle Type (PC, LCV, Truck, Bus), EV Type (BEV, PHEV, FCEV), Valve Design, Function, Operation, and Region - Global Forecast to 2026
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