A solenoid valve is an electromechanically operated valve and is used for a host of applications such as shutting, release, distribution, or mixing fluids. 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.
To generate an accurate understanding of the global Solenoid Valves Market the report has been segmented by type, body material, operating type, end user, and regions.
Based on the type, the market is segmented into 2 way, 3 way, 4 way, 5 way and others. The 2-way segment accounts for the most significant market share and is growing with a 3.7 % CAGR.
Based on body material, the market is segmented into the brass body, stainless steel, aluminum body, plastic body and others. The brass body segment accounts for the most significant market share and is growing at a 3.30 % CAGR.
Based on the operating type, the market is segmented into direct, indirect, semi-direct and others. The commercial sub-segment accounts for the most significant market share and is expected to grow at a 3.71 % CAGR.
Based on the end user, the market is segmented into chemical & petrochemical, oil & gas, food & beverages, waste & wastewater, power generation, automotive, pharmaceuticals, medical and others. The chemical & petrochemical sub-segment accounts for the most significant market share and is growing with approximately 4.13 % CAGR.
Based on regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa.
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The dominant players in the solenoid valves market are Curtiss-Wright Corporation (U.S.), Aira Euro Automation Pvt. Ltd (India), Asco Valve, Inc. (U.S.), Parker Hannifin Corporation (U.S.), GSR Ventiltechnik GmbH & Co. KG (Germany), IMI PLC (England), Christian Bürkert GmbH & Co. Kg (Germany), Cla-Val (U.S.) and Hansen Technologies (U.S.) GF Piping Systems (Switzerland), SMC Corporation (Japan), Danfoss A/S (Denmark), OMEGA Engineering (U.S.), Rotex Controls B.V (Netherlands), The Lee Company (U.S.), Cole-Parmer Instrument Company LLC (U.S.), and others.
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.
Issues Of Wink And Synchronization Can Result In Slowing Of Demand
A wink is a temporary slowdown in the volume of material being processed owing to the difference in the switching time and synchronization lag of the valves which may harm the market growth.
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North America accounts for the most significant share of the global solenoid valves market share followed by Europe. The U.S. leads the North America market, while Europe is dominated by Germany, France and U.K. The Asia Pacific region is expected to be the fastest growing owing to rapid economic growth and industrialization of China and India.
The Middle East and Africa market is led by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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