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Automotive Solenoid - Global Market Trajectory & Analytics

  • ID: 4804392
  • Report
  • April 2021
  • Region: Global
  • 188 Pages
  • Global Industry Analysts, Inc
Global Automotive Solenoid Market to Reach $7.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Automotive Solenoid estimated at US$4.7 Billion in the year 2020, is projected to reach a revised size of US$7.9 Billion by 2027, growing at a CAGR of 7.6% over the analysis period 2020-2027. Body Control & Interiors, one of the segments analyzed in the report, is projected to record a 8.3% CAGR and reach US$2.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Engine Control & Cooling System segment is readjusted to a revised 7.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.3 Billion, While China is Forecast to Grow at 11.5% CAGR

The Automotive Solenoid market in the U.S. is estimated at US$1.3 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.8 Billion by the year 2027 trailing a CAGR of 11.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 6.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR.

Safety & Security Segment to Record 7% CAGR

In the global Safety & Security segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$460.4 Million in the year 2020 will reach a projected size of US$713.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027, while Latin America will expand at a 8.3% CAGR through the analysis period.

Select Competitors (Total 38 Featured):
  • Aptiv PLC
  • Bitron Industrie S.p.A
  • BorgWarner, Inc.
  • Continental AG
  • Cumsa Corporation-Lockcarft
  • Denso Corporation
  • Global Point Magnetics Asia Co., Ltd.
  • Hitachi Ltd.
  • Husco International, Inc.
  • Johnson Electric Holdings Ltd.
  • Kendrion NV
  • Magnet - Schultz GmbH & Co. Kg
  • Mitsubishi Electric Corporation
  • MVD Auto Components Pvt., Ltd.
  • Nidec Corporation
  • Padmini Vna Mechatronics Pvt Ltd
  • Parker Hannifin Corporation
  • Pneumadyne, Inc.
  • Robert Bosch GmbH
  • Rotex Automation Limited
  • Schaeffler AG
  • Stoneridge, Inc.
  • TLX Technologies, LLC.
  • WABCO Holdings Inc.
Frequently Asked Questions about the Global Market for Automotive Solenoid

What is the estimated value of the Global Market for Automotive Solenoid?

The Global Market for Automotive Solenoid was estimated to be valued at $4.7 Billion in 2020.

What is the growth rate of the Global Market for Automotive Solenoid?

The growth rate of the Global Market for Automotive Solenoid is 7.7%, with an estimated value of $7.9 Billion by 2027.

What is the forecasted size of the Global Market for Automotive Solenoid?

The Global Market for Automotive Solenoid is estimated to be worth $7.9 Billion by 2027.
Note: Product cover images may vary from those shown

  • Influencer Market Insights
  • World Market Trajectories
  • Automotive Solenoid: Current Market Scenario and Outlook
  • List of Automotive Solenoids Manufacturers
  • Impact of Covid-19 and a Looming Global Recession
  • Automotive Solenoid Market Drivers and Restraints
  • Definition of Solenoid and its Uses in Automotive Industry

  • Total Companies Profiled: 38
Note: Product cover images may vary from those shown