Automotive Solenoid Market Size

Automotive Solenoid Market size was valued at USD 5.14 billion in 2024 and is projected to exceed USD 13 billion by the end of 2037, expanding at over 7.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive solenoid valve is evaluated at USD 5.44 billion. The major factor contributing to the global increase in the use of automotive solenoids is the expansion of government programmes for fuel-efficient automobiles. For example, in March 2023, the European Union recommended the Net Zero Industry Act, which aims to meet the goals of the European Battery Alliance by having domestic producers meet nearly 90% of the EU's annual battery demand by 2030, with a paired production capacity of no less than 550 GWh. Aiming to achieve a total of 50 GWh in local manufacture, the Indian Production Linked Incentive Scheme on Advanced Chemistry Cell Battery Storage was also established in late 2021. The need for automotive solenoids rises as a result of all these measures, which increase the manufacturing of electric cars worldwide.

In addition to these, the functionality and dependability of solenoid valves are improved by the integration of sensors and electronics. Solenoid valves may now offer real-time data, enhanced control capabilities, and diagnostics thanks to this connection. Manufacturers can take advantage of this by creating novel solenoid valves that incorporate sensors and electronics.