The solenoid valves today aren’t the same as they used to be, because the environment in which industries are now operating has changed. Solenoid valves market is constantly evolving as the demand for these valves has been increasing at a very high rate, due to changes in technology, new product lines and diversification of companies into various industries. Usages of Solenoid valves are rising up sharply because of the unique attributes such as automatic flow control system, size, leak block technology, lower price and lower power consumption mechanism.
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Oil & Gas, Chemical and Power Generation industries are key end use industries of the Global Solenoid Valves market. According to a recent study from IndustryARC, the global solenoid valves market is projected to reach $5.26 billion by 2020, at a compounded annual growth rate of about 3.8%.
Solenoid valves in power generation industry are used in containment isolation, Equipment isolation, nuclear steam supply and balance of nuclear island, electrical building chilled water system, reactor coolant system, chemical and volumetric coolant system, safety injection system, process control system, steam turbine protection, Bleeder trip and bled steam non-return, equipment isolation and many other applications. As solenoid valves are an important component in power generation industry, increasing investment in expanding power generation capacity would drive the sales in the next few years.
Asia is the leading Solenoid valves market with China leading the region currently. The Asian region is forecast to have the highest growth in the next few years due to growing adoption of solenoid valves in industrial applications. The Asia market for solenoid valves is forecast to be the fastest growing market with a CAGR of 4.5%.
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The global solenoid valves market is monitored and regulated with guidelines from International Organization for Standardization (ISO) which provides certification and grading to solenoid valves which are used in medical, laboratory & food processing equipment, automotive, analytical instruments. All solenoid valves with the WRAS (Water Regulations Advisory Scheme) certificate use EPDM seals which are the ideal choice to seal for use with water and a temperature range from -30° C to 140°C.
The solenoid valves market has been analyzed across various industries such as:
- Water & Wastewater
- Pulp & paper
- Food & Beverages
The overall solenoid valves market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
Following Key Players were also covered as part of the market landscape analysis:
- Emerson Electric Co.
- Parker Hannifin Corporation
- Danfoss Industries Ltd
- Curtiss Wright Corporation
- Norgen Industrial Co. (IMI)
A detailed qualitative analysis of the factors responsible for driving and restraining growth of the solenoid valve market and future opportunities are provided in the report. This report also identifies many such insights and M&A opportunities, besides providing a detailed analysis of the overall industry.
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