DUBLIN--(BUSINESS WIRE)--The "Global Solenoid Valves Market, by Type, by Function, by Material, by Operation by Media, by Industry Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global solenoid valves market held a market value of USD 4,222.7 million in 2021 and is projected to grow at a CAGR of 5.6% in value terms from 2022 to 2030. Around 113,816.3 thousand units of solenoid valves were sold in 2021.
Increasing focus towards the automation of industries in the developed countries as well as emerging countries including China, India, Japan are augmenting the adoption of a number of advanced technologies such as solenoid valve during the study period. Furthermore, stringent initiatives towards decreasing wastage of raw materials during the flow through pipelines, majority of the industries adopted solenoid valve with an aim to control the flow of the raw material including liquid and gas and to stop the flow automatically when leakage is detected.
Growth Influencers:
Surging Adoption of Solenoid Valves in Food & Beverage Industry
Increasing application of solenoid valves in sterilization, pasteurization systems, agro food processing, food freezing and others are constantly fuelling the demand of these valves in the market. This along with preference towards automatic controlling of the flow of liquid and gas to avoid contamination in the food industry is another key reason for the high adoption of these valve in this industry. This subsequently is driving the market growth during the study period.
Apart from that, recent advancement of technology has evolved the power source as renewable energy for the power generation of solenoid valve. Key manufacturers are taking initiatives to manufacture solenoid valves in certain ways to withstand harsh environments and offer reliable function by a renewable energy source. This advancement has been instrumental for the higher adoption rate of these valves in the industries and support the market growth.
Growth Restraints:
Although certain technical drawbacks are hindering the market growth of these valves. Some of them are sensitivity towards voltage fluctuation during operation, effect of flow on the valve fluid. Additionally, the solenoid coil may need to change over the lifetime of the valve. These drawbacks along with moderate to high price of 4-way and 5-way solenoid valves are restraining the market growth during the study period.
Segments Overview:
By Type
- Direct-acting valves
- Pilot-operated valves
By Function
- 2-way
- 3-way
- 4-way
- 5-way
By Material
- Stainless Steel
- Aluminum
- Plastic
- Others
By Operation
- Normally open
- Normally closed
- Universal
By Media
- Air
- Gas
- Water
By Industry
- Oil & Gas
- Chemical & Petrochemical
- F&B
- Power Generation
- Pharmaceuticals
- Automotive
- Medical
- Others
The global Frozen Food market report answers questions such as:
- What is the market size and forecast of the Global Solenoid Valves Market?
- What are the inhibiting factors and impact of COVID-19 on the Global Solenoid Valves Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the Global Solenoid Valves Market?
- What is the competitive strategic window for opportunities in the Global Solenoid Valves Market?
- What are the technology trends and regulatory frameworks in the Global Solenoid Valves Market?
- What is the market share of the leading players in the Global Solenoid Valves Market?
- What modes and strategic moves are considered favorable for entering the Global Solenoid Valves Market?
Key Topics Covered:
Chapter 1. Research Frameworks
Chapter 2. Executive Summary: Global Solenoid Valves Market
Chapter 3. Global Solenoid Valves Market Overview
Chapter 4. Global Solenoid Valves Market Analysis, By Type
Chapter 5. Global Solenoid Valves Market Analysis, By Function
Chapter 6. Global Solenoid Valves Market Analysis, By Material
Chapter 7. Global Solenoid Valves Market Analysis, By Operation
Chapter 8. Global Solenoid Valves Market Analysis, By Media
Chapter 9. Global Solenoid Valves Market Analysis, By Industry
Chapter 10. Global Solenoid Valves Market Analysis, By Region/ Country
Chapter 11. North America Solenoid Valves Market Analysis
Chapter 12. Europe Solenoid Valves Market Analysis
Chapter 13. Asia Pacific Solenoid Valves Market Analysis
Chapter 14. Middle East & Africa Solenoid Valves Market Analysis
Chapter 15. South America Solenoid Valves Market Analysis
Chapter 16. Company Profiles
Companies Mentioned
- Airtac
- ASCO Valve Inc.
- Danfoss Industries Limited
- Curtiss-Wright Corporation
- IMI Precision Engineering
- Emerson Electric Co.
- Juliang Valve,
- Parker Hannifin Corporation
- Zhejiang Yongjiu
For more information about this report visit https://www.researchandmarkets.com/r/vk02fo
