” the market is driven by the robust dynamics in the automotive industry. The development of Electronic Stability Control is also another factor that drives the market.
Asia Pacific to have a major share in the Automotive Solenoid Valves market
Asia Pacific is the largest region in the Automotive Solenoid Valves Market. The reason for this high growth is due to the growing demand for passenger cars in the emerging markets. The demand for heavy commercial vehicles and logistics also enhances the growth of the market in the region. The leading automotive manufacturers have started making substantial investments in the production facilities in the region which has reduced production costs and raised profits. The rising standard of living along with strict emission norms act as catalysts for the market. This factor also spurs the Asia Pacific automotive solenoid valves market in the coming years.
Selected Analysis done in the full Report:
The various types of seals in solenoid valves include Nitrile Rubber, Ethylene Propylene Diene Monomer Rubber, Fluorelastomer, Polytetrafluoroethylene. Nitrile Rubber also called as Buna-N, is the most commonly used seals for solenoid valves. It can withstand high temperature, heat, and high resistance to wear and tear. The material has low resistance to sunlight. It is used in the automotive industry to control the oil and petroleum flow rates in the systems. Nitrile rubber is also used for manufacturing gaskets, automotive transmission belts, O-rings, fuel systems, and hydraulic hoses.
Ethylene Propylene Diene Monomer Rubber seals have high resistance to heat and can control hot fluids. They offer good resistance to sunlight, alkalis, abrasion and tearing, oxidizing chemicals, ketones, and alcohols. They can be even used for making automotive hoses and gaskets.
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Excerpts on Market Growth Factors
The automotive industry has witnessed a shift in the emerging economies. The low market penetration and availability of low cost resources such as land and labors in these countries, has been attracting major companies to set up their manufacturing facilities. This factor drives the growth of automotive solenoid valves.
The demand for remanufactured components is growing as the sales of the remanufactured cars is picking up in the global market. Consumer attitudes have changed with the growth in the quality of the used cars. The refurbished car market is responsible for the growth of the auto components.
Initiatives taken by the governments of developing economies has driven the growth of the domestic market and helped the countries to drive their exports in the developed markets.
Industrialization in growing countries is leading to the increasing demand for industrial trucks and trailers.
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Key players of the Automotive Solenoid Valves Market
Parker Hannifin Corporation and Emerson Electric are the key players of the Automotive Solenoid Valves Market. Parker Hannifin Corporation is banking on its diversified range of products. It is strengthening its portfolio in compliance with Euro-6 standard which helps to reduce emissions such as Nitrogen Oxides and particulate matters. Euro-6 standard also improves engine and fuel management and controls alternative fuel systems. Emerson Electric provides a solution that helps OEMs to reduce the product cost. This company is expected to dominate the Automotive Solenoid Valves Market in the coming years.
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