Industry Background:
Solenoid valves are control units which, when electrically energized or de-energized, either shut off or allow fluid flow helps in controlling all the required above actions. In the approaching years, there is a cumulative demand for solenoid valve in the regions of the United States and Europe. It is one of the drivers that is expected to drive the market for more advanced valves. The rising growth in government funds in the countries and the renovation of old technology is boosting the growth in the United States and Europe Industries. Moreover, globally, the Solenoid Valve industry is low intense as the manufacturing technology of Solenoid Valve is comparatively matures than some high-tech equipment.
According to AMA Research, the market for Solenoid Valves is expected to register a CAGR of 4.9% during the forecast period to 2028. This growth is primarily driven by Increasing Adoption of Solenoid Valves in the Food & Beverages Industry
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Industrial Machinery sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as ASCO Valve, Inc. (United States), Christian Bürkert GmbH & Co. KG (Germany), Curtiss-Wright Corporation (United States), Danfoss A/S (Denmark), GSR Ventiltechnik GmbH & Co. KG (Germany), IMI plc (United Kingdom), Parker Hannifin Corporation (United States), Rotex Controls B.V. (The Netherlands), SMC Corporation (Japan) and The Lee Company (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2020, GEMÜ Gebr. Germany-based Müller Apparatebau, a leading global supplier of sterile valves for the pharmaceutical and biotech industries, has launched the new GEMÜ M75 process solenoid valve with pressure compensation. The new direct control process solenoid valve with an innovative bellows system uses the innovative double bellows principle to compensate for pressure. and In 2020, Pierburg GmbH, part of the technology group Rheinmetall, has announced that it has entered into a strategically important contract for the supply of diverter air valves for use in exhaust gas turbochargers of vehicles with internal combustion engines or hybrid drivelines. The Rheinmetall Automotive subsidiary has become a major supplier for a worldwide range of engines from a well-known Korean manufacturer.
In 2020, Emerson has introduced the Advanced Redundant Control System (ARCS) to increase operational reliability in emergency stop situations. The ARCS features two or four electrically actuated solenoid valves, visual indicators, and manually controlled bypass or shutoff valves. ARCS is the only safety system in the industry with individual valve isolation for on-line maintenance without process interruption. and In Apr 2019, Eaton launched a compact, simplified solenoid valve to increase the accuracy of off-highway vehicles’ fluid control. The new five-way, three-position proportional ESVL9 screw-in cartridge valve features an integrated load-sense check control and provides a 21% manifold reduction in size compared with other five-ported directional control valves in the market.The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Influencing Trend:
Adoption of these Valves in Hotels Rooms for Locking Purpose e.g. Doors and Offices
Market Growth Drivers:
Increasing Adoption of Solenoid Valves in the Food & Beverages Industry and Shift to Renewable Sources for Power Generation
Challenges:
Reliability of Solenoid Valve and Issues Related to Technological Failure of these Valves
Restraints:
Technical Problems Associated with Solenoid Valves may Affect the Market
Opportunities:
Increasing Demand for Wastewater Treatment Industries and Growing Adoption of Solenoid Valves in a Wide Range of Process Industries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Solenoid Valves Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Solenoid Valves Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Solenoid Valves players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Solenoid Valves Study Sheds Light on
The Solenoid Valves Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Solenoid Valves industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Solenoid Valves industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.