The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the solenoid valve market. The scope of this report covers the solenoid valve market by its major segments, which include the types, applications, and the major geographic regions.
Solenoid valve is a type of valve that is operated electromechanically. It is controlled by electric current and possesses a solenoid which functions under electromagnetic field.
The valve can be two-port or three-port. In case of two-port valve the flow can simply be switched on or off, whereas, in case of three-port valve the flow can be switched between the two outlet ports.
Solenoid valves are mostly used in the field of fluidics and serve multiple tasks such as release, shut off, and distribution of mixed fluids.
Solenoids are safe and provide fast switching. They are highly reliable and durable for a long period.
They have good compatibility, and low control power which makes it more efficient to be used across diverse industries. This report studies the current and future aspects of solenoid valve market.
KEY PREMIUM INDUSTRY INSIGHTS
- Solenoid valve has various applications in diverse verticals such as oil and gas, chemicals, petrochemicals, pharmaceuticals, and so on. This is contributing towards the increased popularity of the solenoid valve resulting in market growth. The benefit of being controlled electronically is another factor driving the solenoid valve market globally.
- In addition, solenoid valves are increasingly being adopted and used in various industrial processes and increasing favored for greater process automation which is contributing towards market growth. Technical issues associated with solenoid valve such as incomplete closing and opening of the valves, occurrence of unusual sounds and coil problems can hamper the market growth.
- Moreover, the flow factor or the valve can act as a major market restraint. However, the rise in water treatment plants is creating newer growth opportunities for the solenoid valve market.
The global solenoid valve market is divided into five major geographical segments which are North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. The North America region holds the highest market share and is the largest revenue contributors for the solenoid valve market.
The region shall continue to dominate over the forecasted period because of the increased use of solenoid valve across various industries. Next in line is the Europe and Asia-Pacific region which are witnessing a rapid market growth due to growing awareness for clean and hygienic drinking water.
Considering the multiple benefits of solenoid valve, the market is estimated to grow at a rapid pace globally.
KEY MARKET PLAYERS
Key players in the solenoid valve market include:
- Curtiss-Wright Corporation
2. Asco Valve, Inc.
3. Christian Bürkert GmbH & Co. Kg
4. GSR Ventiltechnik GmbH & Co. Kg
5. Danfoss A/S
6. Parker Hannifin Corporation
7. IMI PLC
8. Rotex Controls B.V.
9. The Lee Company
10. SMC Corporation
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