Automotive Solenoid Market

Market Leader - Automotive Solenoid Market

The global automotive solenoid market is estimated to be USD 4.13 Billion in 2017, and is projected to reach USD 6.30 Billion by 2022, growing at a CAGR of 8.82% from 2017 to 2022. Asia-Pacific is estimated to lead the automotive solenoid market in 2017. China, Japan, and India are the key contributors to the automotive solenoid market in the region.

The key strategy adopted by players to gain traction in the automotive solenoid market is new product development, which accounted for 52% of all the strategies adopted by companies from 2014­ to 2017. For instance, Hitachi Automotive Systems Americas, Inc., a regional headquarters of the Hitachi group in the Americas, exhibited 11 types of variable timing control solenoid valves at the Automotive Aftermarket Products Expo (AAPEX) 2016. Companies operating in the automotive solenoid market also followed the strategy of mergers & acquisitions to fortify their business network. This approach constituted approximately 24% of the total growth strategies adopted by players in the global automotive solenoid market. For instance, in 2015, Nidec Corporation acquired Geräte- und Pumpenbau GmbH. With this acquisition, Nidec Corporation looks to further expand its electrical pump business by combining its motor technology with GPM's pump technology.

Continental AG, under the powertrain division, offers solenoid related products. Solenoid direct injection, Port fuel injection, and Gasoline DI XL3.1 Solenoid Injector are some of the few products offered in the above-mentioned segment. The company has a strong product offering, especially for the original equipment (OE) market, as compared to the aftermarket. Continental AG follows a balanced strategy with a mix of organic and inorganic business strategies. In 2017, Continental AG has acquired 100 percent stake in Emitec Emission Control Technologies. This acquisition will provide new opportunities for Emitec’s product line, which will help to enter new market segments. The acquisition 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). In 2016, the company introduced a new product turbocharger which improved engine response and provided 3 percent greater efficiency in the engine relevant operating range, therefore, reducing the emissions.

BorgWarner (Germany) is another major company in the automotive solenoid market. BorgWarner provides technologies for combustion, hybrid, electric, light, and commercial vehicles with a high range of aftermarket products. BorgWarner Inc. has adopted strategies such as new product development, acquisitions, and supply contracts in the last few years. In 2017, BorgWarner announced that it has launched its new compact Cam-Torque Actuated 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 by acquiring key clients like Suzuki, Hyundai, and Jaguar Land Rover, which resulted in high market presence. In 2015, BorgWarner completed the acquisition of Remy International, a leading manufacturer of rotating electrical components like alternators, starter motors, and electric traction motors for the automotive and commercial vehicle industry.

Related Reports:

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

Mr. Rohan
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Report Code
AT 5317
Published ON
May, 2017
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