A solenoid is an electromechanical device, which is utilized to control the flow of liquid or gases or to control starter motor in a vehicle. Solenoids are used to control valves inside a vehicle electrically, by using the solenoid core to apply mechanical force to the valve. As electric current is passed through the solenoid coil, the coil energizes, and a magnetic field is created initiating a plunger inside the coil to move. The plunger either opens or closes a valve, depending on its design. When an electric current is removed from the coil, the valve returns to its de-energized state. Thus, solenoid valves provide automation of fluid and gas control. The use of solenoid in the starter of a vehicle is also common these days. Other uses of solenoid in a vehicle include for controlling the door locks, air conditioning, etc.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.