Solenoid Valve Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024
Solenoid valve refers to a mechanical device which involves the use of solenoid to achieve control on activation of the valve. In solenoid valve, the electric current is passed through a solenoid channel. Solenoid valves are globally considered as electromechanically operated valves and are widely used for controlling the flow of gas or liquid. Solenoid valves are most popularly used in fluidic applications as control elements. Solenoid valves perform several important tasks such as shut-off, release, distribute or mix fluids and gases. Solenoid valves involves the use of solenoid which offers various advantages such as safe and fast switching, high reliability, compact design, extended service life and low control power. The global solenoid valve market is growing at a rapid pace and is anticipated to witness a significant amount of growth over the forecast period. In addition, constant evolution in the global solenoid valve market, in terms of new product development and product innovations, is leading to the overall development of new and advanced technologies. Solenoid valves are most commonly used in hydraulic and fluid power pneumatic systems in order to achieve control on large industrial valves or fluid power motors. Furthermore, solenoid valves are also being used in automatic irrigation water sprinkler systems. Also, dishwashers and washing machines also employ the use of solenoid valves in order to gain control on the flow of water into the machine.
Various factors which are involved in driving the growth of global solenoid valve market include increasing number of end-use applications of solenoid valves in several industrial sectors coupled with lower price of a solenoid valve as compared to other traditional valves. Moreover, low power consumption of solenoid valves is another major factor anticipated to accelerate the growth of global solenoid valve market over the forecast period. Furthermore, increasing developments in the solenoid valves as well as introduction of new solenoid valves such as pinch valves, customized valves, and micro-miniature valves escalates the overall growth of global solenoid valve market.
The solenoid valve market is segmented by material, design type, industry vertical and region. On the basis of material, the global solenoid valve market can be segmented into stainless steel, brass, aluminum and others. By design type, the global solenoid valve market can be segmented into 2 way, 3 way, 4 way and 5 way. By industry vertical, the global solenoid valve market can be segmented into chemical & petrochemical, oil & gas, water & waste water, food & beverages, pharmaceuticals, power generation, automotive, medical and others. On the basis of region, the global solenoid valve market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific. The robust demand in Asia-Pacific is expected to be the major driving factor for the growth of solenoid valve market, globally. China is analyzed to lead the demand for solenoid valves owing to the increased industrial production in the past 3–4 years. Country is also the leading consumer of solenoid valves in the world. The markets in other emerging economies such as Brazil and India are also projected to grow rapidly.
Some of the players in global solenoid valve market include Danfoss A/S, Asco Valve, Inc., CKD Corporation, SMC Corporation of America, Christian Bürkert GmbH & Co. KG, IMI plc Company, ODE s.r.l., GSR Ventiltechnik GmbH & Co. KG, Kaneko Sangyo Co., Ltd, Ningbo Mailing Pneumatic Co., Ltd., CEME S.p.A., Takasago Electric Industry Co., Ltd. and Parker Hannifin Corp. among others.
Market Segmentation
Market by Material
· Stainless steel
· Brass
· Aluminum
· Others
Market by Design Type
· 2 way
· 3 way
· 4 way
· 5 way
Market by Industry Vertical
· Chemical & petrochemical
· Oil & gas
· Water & waste water
· Food & beverages
· Pharmaceuticals
· Power generation
· Automotive
· Medical
· Others
Market by Geography
· North America
o US
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Philippines
o Rest of Asia-Pacific
· Latin America
o Brazil
o Chile
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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