Automotive Solenoid Market Size, Share, Growth Analysis, By Vehicle Type(Passenger Vehicle, LCV, HCV, and Electric Vehicle), By Application(Engine Control, Fuel & Emission Control, HVAC, and Others), By Valve Type(2-Way Valve, 3- Way Valve, 4- Way Valve, and Others), By Region - Industry Forecast 2024-2031

Drivers

Growing Need for Sophisticated Automation Systems

• The automobile sector has undergone a revolution thanks to increased automation and digitalization. In the past, automakers produced mechanical actuators that were limited to manually operated applications, like seat adjustments and window winding up and down. The market for solenoids, sometimes referred to as electromechanical actuators, will grow because of rising demand for sophisticated automated applications and good fuel economy. For lifting, tilting, adjusting, placing, retracting, extracting, controlling, opening, and closing all automated applications, solenoids are extensively utilised in trucks and heavy-duty vehicles.

Solenoid Applications in Many Different fields

• Growing inclination among consumers for new, upgraded gearbox systems like AMT, DCT, and CVT that offer better vehicle control and acceleration, improving the driving experience. This is mostly since modern transmission systems allow torque to be controlled in real time with each gearshift. It takes longer for the torque to set with the new gear as the friction losses caused by gear shifting are minimised and swiftly synchronised with the torque needed for the new gear.

Restraints

Reduction in Car Production over Past Few Years

• Globally, the auto industry is experiencing a slump. In 2020, there was a 16% decrease in car manufacturing compared to 2010 sales levels, according to the International Organisation of Motor car Manufacturers (OICA). 2020 saw an average decline of more than 21% across Europe. There were significant drops in all major producing nations, ranging from 11% to over 40%. Europe contributed over 22% of the world's production. With 15.7 million units produced in 2020, North America accounted for 20% of worldwide production.

Solenoid Valve Technical Issues to Impact Growth Rates

• There aren't many issues that regularly impair solenoid valve functionality. Partially closed valves, improperly opening valves, irregular valve sounds, and coil issues are a few of the typical issues with solenoid valves. For example, manual override, pressure differential, residual coil power, damaged armature tube, and damaged valve seats can all lead to valve partial closure. In addition, improper voltage, dirt accumulation under the diaphragm, uneven pressure, and power outages can all prevent some solenoid valves from opening.