DUBLIN–(BUSINESS WIRE)–The “Global Automotive Solenoid Value Market Outlook 2023-2036” report has been added to ResearchAndMarkets.com’s offering.
The global automotive industry stands on the cusp of a significant transformation, with the automotive solenoid valve market poised for substantial growth over the next thirteen years. A newly added comprehensive research report projects that this market will experience a steady compound annual growth rate (CAGR) of 6.41% from 2024 to 2036. This growth underscores the burgeoning demand for automobiles, including passenger cars, commercial vehicles, and electric vehicles (EVs), all of which extensively use automotive solenoid valves.
According to the extensive analysis presented in the new report, the global automotive solenoid valve market is expected to surge from a revenue of USD 5.31 billion in 2023 to an impressive USD 11.85 billion by the conclusion of 2036. This leap reflects the dynamic nature of the automotive industry and the evolving needs of modern vehicles.
In dissecting the market, the report segments it by type, protocol, function, vehicle type, and application. Additionally, a regional analysis indicates a diverse distribution with North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa all contributing to the industry’s expansion. Of these, the Asia-Pacific region is tipped to lead with estimated revenues reaching USD 4 billion by 2036, up from USD 2 billion in 2023. This significant rise can largely be attributed to China’s robust automobile market, which is forecasted to maintain its position as the largest of its kind worldwide.
Passenger cars hold the promise of the largest revenue by the end of the forecast period, projected to almost double from nearly USD 3 billion in 2023 to USD 6 billion in 2036. This anticipated growth is driven by an increased demand for electronic components in vehicles, highlighting the segment’s vast potential.
The comprehensive market delineation provided in this report examines the following segments:
- Vehicle Type: Passenger Cars, Commercial Cars, Electric Vehicles
- Type: Definitions and Market Size
- Function: Operations and Integrations
- Application: Utility and Efficiency
- Protocol: Technological Framework
Companies Mentioned
- TLX Technologies
- Continental AG
- BorgWarner Inc.
- Aera GCS Private Limited
- Emerson Electric Co.
- Jaksa d.o.o.
- NINGBO BRANDO HARDWARE CO. Ltd.
- Rotex Automation
- UNICK Corporation Robert Bosch GmbH
- Denso Corporation
- Delph
For more information about this report visit https://www.researchandmarkets.com/r/kwvih2
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