The global [FURL=https://www.industryarc.com/Report/9594/automotive-solenoid-valves-market-research-analysis-report.html?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Automotive Solenoid Valve Market[/FURL] is estimated to surpass $6.5 billion mark by 2026 growing at an estimated CAGR of more than 6.9% during the forecast period 2021 to 2026. Automotive solenoid valves are electromechanically controlled valves. These valves control the rate of flow of air or fluid in systems and motors in automobiles. Solenoids are devices that convert electrical energy into mechanical energy, creating a magnetic reaction, this occurs when electric current makes its way through the wire in the solenoid. These are usually used to hydraulic systems and power fluid. Different types of solenoid valves include direct-acting valves which is utilized to prevent the development of too much pressure in a device, pilot-operated valves also called as indirect valves or servo operated used for one flow direction, two-way valves which have one inlet and one outlet used to permit and stop the fluid flow.
Key Takeaways
Pursuing more energy-efficient, convenient, and high-tech products with user-friendly design has always been the general direction of valve development. On the basis of minimizing the energy consumption, reducing the fluid flow resistance and decreasing the consumption during the using process have always added value. In the energy-saving, the focus is the electric device. By selecting low-power and low-noise motor and improving its structure, you can control the energy consumption of electric device which will lead to the development of the valve industry.
One of the prominent trends that the market is witnessing are development of Hybrid electric vehicle (HEV) and electric vehicle (EV) are increasing, development of new solenoid valves such as micro-miniature valves customized valves and pinch valves are gaining prominence.
BorgWarner received Automotive News PACE Innovation Partnership Award for its collaboration with General Motors (GM) on the Eco-Launch solenoid valve.
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Automotive Solenoid Valve Market Drivers
Rising Electric Vehicle Adoption driving new applications of Solenoid Valves
Keeping pace with the current rapid development of clean energy, hybrid cars and electric vehicles are receiving extensive attention.
North America dominates the global automotive solenoid valve market owing to the growing adoption of automotive vehicles and increased investments for vehicle production by major OEMs such as Ford and General Motors.
Automotive Solenoid Valve Market top 10 companies are Robert Bosch GmbH, Hitachi Ltd, Mitsubishi Electric Corporation, Continental AG, Johnson Electric Holding, BorgWarner, ASCO Valve, Norgren, Curtiss Wright, Danfoss and Delphi Automotive PLC.
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