Market Highlights:
Solenoid valves are designed to withstand humid and corrosive environments and also with the capability to perform well at extreme room temperatures. Due to these, solenoid valves are increasingly being used in food processing industry. They are typically made of stainless steel components. The valves used in food industry come in two different variants, namely, direct contact valves and utility service valves. The direct contact valves are those that come in direct contact with the food products and are corrosion resistant, in nature. Utility service valves, on the other hand, do not come in direct contact with the food materials, and are typically used for handling substances such as water, steam and other non-food related resources.
The requirements for fluid control systems in medical technologies as compared to other industrial areas have changed significantly. The goal is to minimize liquid consumption, size, dosing and wash cycles, and distance to the application. Bürkert has developed a new micro-valve that fits in miniature apparatus. Due to its compact size and excellent flushability, the new micro-valve is ideal for applications in lab environments. Typical examples of such applications are the analysis of blood or urine. This ideally has increased the application of solenoid valve in medical and healthcare industry
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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.
Key Findings:
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.
Market Dynamics:
Their Ubiquitous Usability And Attractive Advantages Are The Prime Determinants Of The Market
Solenoid valves are used for a host of applications such as pneumatic and hydraulic systems, fluid power motors, automatic irrigation sprinkler systems, domestic washing machines, dishwasher’s, paintball gun triggers and another wide array of industrial applications. Solenoid valves offer attractive benefits such as fast and safe switching, high reliability, long service life, high compatibility for processing a variety of materials, low control power and compact design.
Other industrial application expanses include general on-off control, calibration and tests, pilot plant control loops, process control systems, and others applications.
Technological Advances And Product Development Is Expected To Drive A Significant Demand
Development of advanced 3-way solenoid valves and growing adoption of microcontroller systems is expected to drive the market. The ability to manifold multiple solenoid valves integrated into a single system has resulted in increasing application expanse exemplified by water treatment plants, food processing industry, chemical manufacturing, and others. Development of advanced corrosive and temperature resistant materials is expected to drive further growth.
Regional Analysis:
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
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Intended Audience:
- Technology Investors
- Research/Consultancy Firms
- Cloud Service Providers
- Security Service Providers
- Managed Service Providers
- Cloud Storage Providers
- Infrastructure Providers
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)
TABLE 8 NORTH AMERICA SOLENOID VALVE MARKET BY BODY MATERIAL, 2016-2027 (USD MILLION)
TABLE 9 NORTH AMERICA SOLENOID VALVE MARKET BY OPERATING TYPE, 2016-2027 (USD MILLION)
Continued…….
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