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A solenoid valve is an electromechanically operated device, which is controlled by an electric current used for controlling liquid or gas flow. Solenoid valve offers high reliability, fast and safe switching, extended service life, and compact design and low power. Increasing applications of solenoid valves into various industries lower the price of the pipe and decrease the power consumption.
Global Solenoid Valve Market Segments Size & Growth:
Global solenoid valve market is expected to reach $XX Billion by 2024 from approximately $XX Billion in 2017 at a CAGR of around XX%. Increasing adoption of solenoid valves in food & beverages industry, low power consumption, technology advancement, automotive flow system and applications of solenoid valves in various sectors are significantly driving the market growth. However, factors are affecting the solenoid valve market growth such as power failure, uneven pressure and wrong voltage along with budget allocation is limiting the solenoid valve market.
Global Solenoid Valve Market Segments Share:
Global Solenoid valve market functionalities include solenoid valve operation, material, valve design, component, type, the electrical signal, application, end user, and geography. Based on the process of a solenoid valve, solenoid valve market is categorised into direct operated, indirect operated and semi-direct operated. Among which direct operated solenoid valve has most straightforward operating principle. These are suitable for negative pressure circuits and available in cost-effective, compact sizes. Indirect operated solenoid valves operate at higher pressure and temperature ranges with low power consumption. All these operations applied to various applications, and show substantial growth rates in the solenoid valve market.
A material of solenoid valve can be of stainless steel body material, brass body material, aluminium body material and plastic body material. The valve body should be compatible with fluid. For general, and slightly aggressive media applications, stainless steel valves are used. Mostly used stainless steel solenoid valves include stainless steel coaxial solenoid valve and stainless steel solenoid valve pilot. Brass body, stainless steel solenoid valves, are useful for the general purpose, controlling air, water, atmospheric gases and corrosion applications. Similarly, a plastic body material solenoid valve material is used for the domestic appliance and agricultural systems and offer cost-effective and lightweight solutions. Different materials have different applications under various operations, which is driving the market.
Valve design for 3-way solenoid valves is
Components of solenoid valves market include coil/solenoid, plunger, orifice, spring seal and others. A plunger is a magnetic component that moves when the solenoid is energised. The coil/solenoid is the turns of copper wire that surround the core tube and induce the movement of the core. Passage of an electric current operates this through a solenoid.
Based on the type, a market is segmented into core disc type solenoid valve, floating diaphragm-type solenoid valve, flapper disc type solenoid valve, hung diaphragm-type solenoid valve, lever type solenoid valve, piston type solenoid valve, and slide disc type solenoid valve. Among which diaphragm type solenoid valves are available in a wide range of materials to suit almost all the industrial applications. These are most commonly associated with 2-way solenoid valves.
Electric signals of solenoid valve categorised into AC signal and DC signal. The solenoid valves can be operated using either of DC (Direct Current) or AC (Alternating Current) electrical signals. Solenoid valves are used to control and modulate the flow of liquids and gases.
Applications of solenoid valve include laundry & dry-cleaning equipment, industrial washing equipment, autoclaves/ sterilisers, compressors and vacuum pumps, plastic moulding machinery, food-processing machinery and others. One of the most widespread applications of the solenoid valve is in the refrigeration systems. They are used in air conditioners to change the direction of the flow of the refrigerant so that they can be used for the cooling purpose in the summers and heating purpose in the winters. Moreover, a solenoid valve is an active part of the systems of automobiles like cars and trucks. These applications are driving the market growth.
Solenoid valve market segments under various industrial verticals, oil & gas, chemical & petrochemical, water & wastewater, food & beverages, power generation, automotive, aerospace & defence and others. Among the various industries, the chemical & petrochemical industry held the most significant share. This market is anticipated to grow at a substantial rate during the forecast period, driven by the growing installations of solenoid valves in different phases of oil & gas extraction processes. The continuous retrofit works
Geographic analysis of solenoid valve market is segmented into regions Asia-Pacific, Europe, North America, South America and the Middle East and Africa. The solenoid valve market in North America accounted for the most significant share during the forecast period, followed by the markets in Europe and APAC. The market in North America is expected to grow at the highest rate over the forecast period. North America and Western Europe region expected to cover a significant share of global solenoid valve market during the forecast period. This growth is majorly attributed to the increasing usage of solenoid valves in various process industries where these industries are currently upgrading their existing facilities with the deployment of automation technologies. These automation technologies help in providing higher performance, less workforce, and high efficiencies, thereby decreasing the overall production costs.
Global Solenoid Valve Market Trends:
Global Solenoid Valve Market Research Report includes:
An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.
Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
Identifying DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.
Expertise investment opportunities by the analyst to the individual and organisation to have the better foothold in the market.
The major market players are
Along with these companies, there were many other companies considered/cited in the report while analysing the global solenoid valve market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.
Starting from $2700
Starting from $2700
Starting from $2700
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