Automotive Solenoid Valve Market Estimated to Surpass $6.5 Billion Mark by 2026
"One of the Prominent Trends That the Automotive Solenoid Valve Market Is Witnessing Are Development of Hybrid Electric Vehicle (HEV) and Electric Vehicle (EV) Are Increasing, Development of New Solenoid Valves."
BriefingWire.com, 6/09/2021 -
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