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

Global Automotive Solenoid Market size was valued at USD 4.84 billion in 2022, USD 5.10 billion in 2023 and is projected to grow USD 7.71 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Automotive solenoids are valves that are operated by electromechanical means. They regulate how quickly gases or liquids move through different automotive systems. Electric current powers their operations. The solenoid coil produces an electromagnetic suction valve core (also known as overcoming spring due to gravity) whenever electricity passes across it. Automotive solenoids are frequently used to reroute the flow of gas, water, oil, and other materials. During the forecast period, factors such the automotive sector's promising growth rate, the growing popularity of electric vehicles, and the rising need for automated systems are anticipated to propel the expansion of the automotive solenoid market. Positive effects on the automotive solenoid industry are also anticipated from government and well-known automakers' initiatives.

Due to their many automotive applications, solenoids are essential parts of modern cars. For example, solenoids are used in automatic gearboxes to control gear shifting, which enhances driving enjoyment and fuel efficiency. Solenoid valve control in the powertrain achieves similar goals of increased engine performance and reduced emissions. As automakers keep coming up with new features and innovations, the spectrum of applications for solenoid devices grows, increasing demand for them. Vehicle systems accuracy and effectiveness are of utmost importance to automakers. Solenoid actuation, which responds quickly and precisely to electrical inputs, is crucial to accomplishing these objectives. Applications like fuel injection and pollution control, which call for exact timing and solenoid action strength, rely on this accuracy.