Market Highlights: —
Solenoid valves market is estimated to exhibit high growth potential during the forecast period owing to rapid adoption of digital technology and increasing popularity of customer service experience. Solenoid valves helps in speeding up the processes and can help in reducing the number of mistakes which can be termed as human errors. Major driving factor in the growth of solenoid valves market is the increasing awareness regarding safe drinking water. Growing popularity of automation is another major factor driving the growth of solenoid valves market.
Giants like Curtiss-Wright Corporation, Asco Valve, Inc., Parker Hannifin Corporation, IMI PLC, GF Piping Systems, SMC Corporation (Japan), Danfoss A/S (Denmark), OMEGA Engineering have made significant investments in Solenoid valves market. Electromechanically operated Solenoid Valves are particularly used to allow the flow when and as long as an electrical signal is sent to the valve. They are used to control and modulate the flow of liquids and gases. From the last couple of years, solenoid valve market is gaining traction due to the increasing demand from industries like oil and gas, water and wastewaters, chemical and petrochemical.
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Major Key Players:
• Curtiss-Wright Corporation (U.S.),
• Asco Valve, Inc. (U.S.),
• Parker Hannifin Corporation (U.S.),
• IMI PLC (England) ,
• GF Piping Systems (Switzerland),
• SMC Corporation (Japan),
• Danfoss A/S (Denmark),
• OMEGA Engineering (U.S.),
• Christian Bürkert GmbH & Co. Kg (Germany),
• GSR Ventiltechnik GmbH & Co. KG (Germany),
Rotex Controls B.V (Netherlands), The Lee Company (U.S.), Cole-Parmer Instrument Company LLC (U.S.), Aira Euro Automation Pvt. Ltd (India), Cla-Val (U.S.) and Hansen Technologies (U.S.).
According to MRFR, The global Solenoid Valves Market is expected to grow at approx. USD 4.6 Billion by 2027, at 3.3% of CAGR between 2016 and 2027.
The global solenoid valves market is expected to reach USD 4,661.15 Million by 2027.
By operating type, commercial sub segment holds the largest market share and is growing with approximately 3.71% CAGR by the end of forecast period.
By end user, Chemical & Petrochemical sub segment holds the largest market share and is growing with approximately 4.13% CAGR by the end of forecast period.
By type, 2-way sub segment in solenoid valves market accounts for the largest market share and is growing with approximately 3.7% CAGR during forecast period.
By body material, brass body sub segment holds the largest market growing with approximately 3.30% CAGR by the end of forecast period.
Geographically, North America region has been projected to hold the largest market share in global solenoid valves market followed by Europe region, while Asia Pacific ranks third in the solenoid valves market.
Solenoid valves market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and developed fluid automation technologies is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global solenoid valves market share followed by Europe which stands as the second biggest market due to rising m-commerce market whereas, Asia Pacific stands as third largest.
In the global electronic cash register market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of digital advancements and increasing adoption of workflow automation across different countries in the region.
The factors that hinder the market growth are the size of the equipment, level of customization of the equipment, and application in which the equipment is used. Adversely, solenoid valves are becoming more popular these days as it can be controlled electronically giving optimum output
Solenoid valves market can be segmented on the basis of type, body material, operating type and end user. The body material segment is further classified into brass body, stainless steel, aluminum body, plastic body and others. However, brass body material holds the largest market share of the market. Solenoid valves are available in a variety of body materials in order to suit different application media, pressure and environmental conditions. Brass body solenoid valves come in different variants based on the operating type of the solenoid valves. Direct acting brass solenoid valves are compact in nature and will operate at zero pressure. The magnetic core is directly responsible for the opening and closing control of the solenoid valves. These are available in 2/2 way and 3/2 way versions with different pressure ratings. Whereas, pilot servo assisted solenoid valves require minimum pressure difference to operate and are available in 2/2 way with variable pressure ratings. Servo assisted valves are also referred to as pilot operated, floating diaphragm, floating piston and pilot assisted solenoid valves.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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List of Tables
TABLE 1 GLOBAL SOLENOID VALVE MARKET BY TYPE, 2016-2027 (USD MILLION)
TABLE 2 GLOBAL SOLENOID VALVE MARKET, BY BODY MATERIAL, 2016-2027 (USD MILLION)
TABLE 3 GLOBAL SOLENOID VALVE MARKET, BY OPERATING TYPE, 2016-2027 (USD MILLION)
TABLE 4 GLOBAL SOLENOID VALVE MARKET, BY END USER, 2016-2027 (USD MILLION)
TABLE 5 GLOBAL SOLENOID VALVE MARKET, 2016-2027 (USD MILLION)
TABLE 6 NORTH AMERICA SOLENOID VALVE MARKET BY COUNTRY,2016-2027 (USD MILLION)
TABLE 7 NORTH AMERICA SOLENOID VALVE MARKET BY TYPE, 2016-2027 (USD MILLION)
List of Figures
FIGURE 1 GLOBAL SOLENOID VALVE MARKET: DRIVERS CHALLENGES & OPPORTUINITIES
FIGURE 2 SOLENOID VALVE: SUPPLY CHAIN
FIGURE 3 GLOBAL SOLENOID VALVE MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 4 GLOBAL SOLENOID VALVE MARKET BY TYPE, 2016-2027
FIGURE 5 GLOBAL SOLENOID VALVE MARKET, BY BODY MATERIAL, 2016-2027
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