Global Solenoid Valves Market, By Body Material (Stainless Steel Body Material, Brass Body Material, Aluminium Body Material, Plastic Body Material), Valve Design (2-Way Solenoid Valves, 3-Way Solenoid Valves, 4-Way Solenoid Valves, 5-Way Solenoid Valves), Industry (Oil and Gas, Chemical and Petrochemical, Water and Wastewater, Food and Beverages, Power Generation, Pharmaceutical, Automotive, Medical, Others), Type (Direct Acting, Pilot Operated, Two Way, Three Way, Four Way), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Solenoid Valves Market
Data Bridge Market Research analyses the solenoid valves market will exhibit a CAGR of 4.01% for the forecast period of 2022-2029 and is likely to reach the USD 5.66 billion by 2029.
Solenoid valves are electromechanical devices that are intended primarily to control the flow of liquid or gas. Steel, brass, aluminium, plastic, and other metals are commonly used in their bodies. Oil and gas, power generation, food and beverage, chemical and petrochemical, and other industries all employ them.
The upsurge in demand for wastewater treatment industries will act as a key element driving market expansion. The solenoid valves market is also being driven by factors such as rapid urbanization as well as industrialization. In addition to this, rising adoption of solenoid valves in a wide range of process industries will expand the solenoid valves market. Furthermore, growing demand from food and beverage sector and surging use of valve diagnostic system will act as major factors influencing the growth of solenoid valves market. Another significant factor that will cushion the solenoid valves market’s growth rate is increasing shift towards renewable sources for power generation. Also, increasing use of miniature solenoid valves will further propel the market’s growth rate during the forecast period of 2022-2029.
Moreover, increase in research and development activities and technological advancement will create beneficial opportunities for the growth of the market. Additionally, surging demand for solenoid valves in agriculture, food and beverages industries in emerging economies will act as market driver and further boost new opportunities in the forecast period mentioned above.
However, high cost associated with solenoid valves will hamper the market’s growth rate. Also, fluctuating component prices and demand-supply gap will further pose a challenge to the market. Other factors such as technical limitations and emergence of unfavourable conditions due to COVID-19 outbreak will obstruct the market’s growth.
This solenoid valves market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on solenoid valves market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Solenoid Valves Market Scope and Market Size
The solenoid valves market is segmented on the basis of body material, valve design, industry, and type. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of body material, the solenoid valves market is segmented into stainless steel body material, brass body material, aluminium body material and plastic body material.
- Based on valve design, the solenoid valves market is segmented into 2-way solenoid valves, 3-way solenoid valves, 4-way solenoid valves and 5-way solenoid valves.
- The industry segment of the solenoid valves market is segmented into oil and gas, chemical and petrochemical, water and wastewater, food and beverages, power generation, pharmaceutical, automotive, medical and others.
- Based on type, the solenoid valves market is segmented into direct acting, pilot operated, two way, three way and four way.
Solenoid Valves Market Country Level Analysis
The solenoid valves market is analysed and market size, volume information is provided by country, body material, valve design, industry, and type as referenced above.
The countries covered in the solenoid valves market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the solenoid valves market and will continue to flourish its trend of dominance due to the presence of major key players in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increasing investment in water treatment plant and rising focus to offer clean water in this region.
The country section of the solenoid valves market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Solenoid Valves Market Share Analysis
The solenoid valves market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solenoid valves market.
Some of the major players operating in the solenoid valves market are Emerson Electric Co., Curtiss-Wright Corporation, Christian Burkert GmbH & Co. KG, GSR Ventiltechnik GmbH & Co. KG, IMI, Danfoss, PARKER HANNIFIN CORP, Rotex Automation, Takasago Electric, Inc., CEME S.p.A., SMC Corporation (India) Pvt. Ltd, The Lee Company, KANEKO SANGYO CO.,LTD., AIRA EURO AUTOMATION PVT. LTD., Jekon Controls, Uflow Automation, macvalves inc., APPLIED INDUSTRIAL TECHNOLOGIES, Nison Group, and Yashima Export & Import Co., Ltd., among others.
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