Global Automotive Solenoid Market is expected to reach USD 67.02 Billion by 2024 from USD 25.79 Billion in 2016 at CAGR of 12.68% (Detailed analysis of the market CAGR is provided in the report).Global Automotive Solenoid MarketGlobal Automotive Solenoid Market1 Global Automotive Solenoid Market is segmented by type, vehicle type, electrical vehicle type, component, application type, and geography. Safety and Security sub-segment is expected to gain the largest market share in the forecast period. Increasing awareness about safety features and increased mandatory installation of features such as anti-lock braking systems (ABS) and airbags is expected to fuel the safety and security sub-segment growth. Vehicle type segment is estimated to experience the significant growth of passenger cars sub-segment. This growth is attributed to higher adoption growth of high-end electronics and advanced systems in passenger cars and larger volume of passenger vehicles. The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

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