A solenoid valve is operated by electric and mechanical operations. It is controlled by an electric current passing through a solenoid, acting as a switch for on and off operation. The solenoid valve is market has most of the applications in oil & gas industry, chemicals and petro-chemicals industry where there is a mandate to maintain the flow of fluid, by controlling the solenoid valve. Automotive solenoid valves is the most fastest growing industrial segment, majorly due to increase in production level of vehicles through automation, electrification of vehicles, installation of heating and ventilation systems in automotive. The solenoid valve is a uni-directional valve that can only be controlled by the electrical current passing through it, making it suitable for manufacturing operations where a high level of scalability is required. In addition to the electric control, the market is also driven by the low power consumption, technological advancements and automatic flow systems.
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.
The global solenoid valves market is expected to reach USD 4,661.15 Million by 2027.
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.
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.
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 segmented by type, body material, operating type and end user. Based on the type, the market is segmented into 2 way, 3 way, 4 way, 5 way and others. Based on body material, the market is segmented into brass body, stainless steel, aluminum body, plastic body and others. Based on operating type, the market is segmented into direct, indirect, semi-direct and others. Whereas, based on end user, the market is segmented into chemical & petrochemical, oil & gas, food & beverages, waste & wastewater, power generation, automotive, pharmaceuticals, medical and others.
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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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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)
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