North America Automotive Solenoid Market - Trend, Growth, Forecast 2024–2032

North America Automotive Solenoid Market Synopsis:

North America Automotive Solenoid Market Size Was Valued at USD 1.72 Billion in 2023, and is Projected to Reach USD 3.53 Billion by 2032, Growing at a CAGR of 8.3% From 2024-2032.

A Solenoid consists of a wire coil wrapped around a metallic core. As Automation rapidly becomes essential in our everyday lives, Solenoid's assistance implements 'Automation' across different applications. When electric current is applied at one end of the solenoid, it generates a magnetic field that can influence various elements like air pressure, locks, or water pressure.

Automotive Solenoids are employed in multiple sectors, including the Automobile industry, Medical Systems, and Lock mechanisms, among others. The most common application of Automotive Solenoids is in devices such as Joysticks utilized for gaming.

A solenoid in cars is an essential component of the starter, acting as a contact that enables power to flow from the battery to the starter. As the production of vehicles continues to rise steadily, so does the interest in manufacturers' solenoids.

Another aspect that is expected to gain momentum is the use of solenoids in the automated transmission of vehicles. Modern automatic transmission vehicles use pressurized hydraulic fluid to shift gears. The trend of reducing engine sizes is expected to grow in the coming years, which will positively impact the Automotive Solenoid market.

North America Automotive Solenoid Market Trend Analysis:

Rapidly Growing Autonomous Vehicle Technology and Electrified Powertrains

• The North America automotive solenoid market is significantly driven by the rapid advancements in autonomous vehicle technology and the growing adoption of electrified powertrains. As automakers shift toward self-driving capabilities, the demand for precise and efficient control systems has surged, with solenoids playing a crucial role in automation, braking, transmission, and fuel management systems.
• The rising penetration of electric and hybrid vehicles is fueling the need for advanced solenoid applications in battery management, thermal regulation, and energy-efficient propulsion systems. Government incentives, stringent emission norms, and increasing consumer preference for sustainable mobility are further accelerating this transition.
• With major automotive manufacturers and technology firms investing heavily in autonomous and electrified solutions, solenoid suppliers are expected to witness a growing demand for high-performance, durable, and energy-efficient components. This trend underscores the pivotal role of solenoids in the evolving automotive landscape, contributing to enhanced vehicle performance, safety, and energy optimization.

Innovations and Advancements in Technology

• Innovations and advancements in technology present significant market opportunities for the North America automotive solenoid market. With continuous improvements in vehicle automation, electrification, and fuel efficiency, the demand for advanced solenoid solutions is rising. The integration of solenoids in modern automotive systems, such as electric and hybrid powertrains, automated transmissions, and advanced driver-assistance systems (ADAS), is driving market expansion.
• The shift toward lightweight and energy-efficient components is fostering the development of high-performance solenoids with enhanced durability and precision. The growing adoption of smart solenoids, which offer real-time monitoring and improved control, further supports market growth. As automotive manufacturers focus on enhancing vehicle performance and sustainability, solenoid technology is expected to play a crucial role in achieving regulatory compliance and improving overall efficiency. These advancements create lucrative opportunities for solenoid manufacturers to develop innovative solutions that meet evolving industry demands and consumer expectations.

North America Automotive Solenoid Market Segment Analysis:

North America Automotive Solenoid Market is Segmented based on Vehicle Type, Electric Vehicle Type, Function, and Application.

By Vehicle Type, the Passenger Vehicles segment is expected to dominate the market during the forecast period

• Passenger Vehicles segment leading the market by vehicle type during the forecast period. This dominance can be attributed to the increasing production and sales of passenger cars, driven by rising consumer demand for fuel-efficient and technologically advanced vehicles.
• The growing adoption of electric and hybrid vehicles is expected to further boost the demand for automotive solenoids, as these components play a crucial role in various vehicle functions, including transmission, fuel injection, and valve control. The presence of key automotive manufacturers and technological advancements in solenoid designs are also contributing factors to the segment's expansion.
• Stringent government regulations on emissions and fuel efficiency standards are encouraging automakers to integrate high-performance solenoids in passenger vehicles, enhancing their efficiency and reliability. These factors collectively position the Passenger Vehicles segment as the dominant force in the North America Automotive Solenoid Market.

By Electric Vehicle Type, the BEV segment is expected to dominate the market during the forecast period

• Battery Electric Vehicle (BEV) segment anticipated to dominate during the forecast period. This growth can be attributed to the increasing adoption of electric vehicles, driven by stringent emission regulations and government incentives promoting sustainable transportation.
• BEVs rely heavily on solenoids for various applications, including powertrain systems, transmission control, and energy management, further contributing to the segment’s expansion. Advancements in solenoid technology, such as improved efficiency and durability, are enhancing their integration into electric vehicles. The rising consumer preference for zero-emission vehicles, coupled with continuous investments in EV infrastructure, is further expected to support the dominance of the BEV segment.
• As automakers shift their focus toward fully electric models, the demand for advanced solenoid solutions is projected to increase, reinforcing the BEV segment’s leading position in the North America automotive solenoid market.

North America Automotive Solenoid Market Top Key Players:

• Stoneridge Inc. (U.S.)
• BorgWarner Inc. (U.S.)
• Parker Hannifin Corporation (U.S.)
• Pneumadyne Inc. (U.S.)
• Mitsubishi Electric Corporation (Japan)
• Denso Corporation (Japan)
• Aptiv PLC (Ireland)
• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• Johnson Electric Holdings Ltd. (China), and Other Active Players

Key Industry Development in the North America Automotive Solenoid Market:

• In November 2024, Tencent has made an announcement regarding the renewal of its strategic partnership with Bosch, aiming to enhance smart vehicle technology. As part of this collaboration, Bosch’s expertise in critical automotive components, such as automotive solenoids, will play a crucial role in optimizing vehicle systems. Solenoids, essential for controlling various mechanical functions within vehicles, will be integrated with Tencent's digital solutions to improve automation and performance in connected cars.