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(I-AutoNewsWire.com, June 15, 2021 ) The global Automotive Solenoid Valve Market 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.
Automotive Solenoid Valve Market Segment Analysis - By Application
Intake systems are the major application of solenoid valves in the automotive context. A range of solenoid valves are used in motor vehicle systems. They are usually used to regulate the flow of automotive fluids such as oil, anti-skid brake fluid or even fuel. In some of these functions, a variable solenoid valve is often utilized. It allows a medium to be controlled instead of shutting it off completely. A good example of this is when limiting the flow of fuel to the engine to reduce vehicle speed. The fuel solenoid valve is common in countries that have regulatory rules for speed. Other automobile solenoid valves include the type used to shut off fuel flow and stop a vehicle, the type to drain water from a water fuel separator automatically, and the coolant control solenoid valve in a vehicle’s HVAC system.
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Automotive Solenoid Valve Market Segment Analysis - By Vehicle Type
The passenger vehicles sector dominates the Automotive Solenoid Valve market driven by significant adoption in luxury and high end vehicles. Key drivers for Automotive Solenoid Valve segment were the increase in the number of electronic components used in cars and the increase in demand for automotive safety systems. From the last decades the increasing use of electrical components in the engine and gearbox compartment is projected to increase demand for Automotive Solenoid Valves over the forecast period. This is especially prevalent in Commercial vehicles where the number of electronic components is rising at a significant rate.
Automotive Solenoid Valve Market Segment Analysis - By Geography
APAC remains the major market for Automotive Solenoid Valve driven by significant automotive production in the region. Despite the effect of Covid-19, China will remain the major market for Automotive Solenoid Valves in the APAC market. It is expected that the demand profile for vehicle sales in China is promising in the medium to long term, and that the country will remain the largest car market in the world in the coming future, directly increasing the growth of the Asia-Pacific’s Automotive Solenoid Valve market. In automobile industry, the solenoid valves are used in critical components such as ignition systems, gear box drive selectors, air conditioning controls, security systems and others. According to International Organization of Motor Vehicle Manufacturers (OICA), the production of cars and commercial vehicles has been increased from 4.48 million units to 5.17 million units during 2016-2018 period in India. Increase in production vehicles has been driving the solenoid valves industry in India and will drive the market in the global context as well, despite the short term decline due to Covid-19.
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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. In electronic control brake systems, which are essential to these vehicles, a solenoid valve is used to control the hydraulic pressure, which boosts the driver's braking force. Solenoid valve technology is also vital in handling the thermal management and cooling aspects of Electric Vehicles. Despite the lack of fuel intake valves, the adoption of Electric Valves is continuing to drive the Solenoid Valves market growth during the forecast period.
Rising Vehicle Demand in North America
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. In 2019, Ford has committed to invest more than $1.5 billion in U.S to increase the production of vehicles. Similarly, General Motors is investing heavily for the production of vehicles. In addition, the US is home to leading aftermarket suppliers, such as Borgwarner and Curtiss Wright for automotive solenoid valves. On the other hand the lack of adequate public transport and the wide geographical area of the country have compelled people to travel in their own vehicles. Increased focus on improving fuel efficiency in this region is compelling the manufacturers to make improved solenoid valves for fuel intake applications.
Automotive Solenoid Valve Market Challenges
Key market players in the solenoid valves market, especially direct acting solenoid valves market often face the challenge of technological failure. Sometimes due to power failure or uneven pressure, the direct solenoid valves may not function and lead to large scale vehicular issues, thereby hindering its adoption in automotive sector. Reasons for faults vary depending on the type of solenoid valve and application. It can be an under or over-voltage, wrong valve capacity, impurities in the media, pressure drop, wrong material, or just bad installation. However, this technological failure will play a major role in limited directing acting solenoid valve adoption in automotive sector.
Automotive Solenoid Valve Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Automotive Solenoid Valve Market. Robert Bosch GmbH, Hitachi Ltd, Mitsubishi Electric Corporation, Continental AG, Johnson Electric Holding, BorgWarner, ASCO Valve, Norgren, Curtiss Wright, Danfoss and Delphi Automotive PLC are considered to be the key players of the Automotive Solenoid Valve Market.
In April 2018, Finland based company Metso had announced the acquisition of Rotex Manufacturers and Engineers Pvt Ltd which manufacturers valves including solenoid valves for automotive applications. This acquisition had the made Metso in expanding its valve operations in India, thereby increasing the India Solenoid valves market share.
In January 2018, Rotex Company showcased its range of Hydrocarbon Dosing Solenoid Valve/Modules for DPF regeneration system and AMT Control Solenoid Valve Modules for the commercial vehicle segment.
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. The innovative technology helps deliver improved fuel economy and performance at significantly lower cost than alternative systems.
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