According to study, “Global Solenoid Valves Market, By Type (2 way, 3 way, 4 way, 5 way), By Component (Brass, Aluminum, Stainless Steel, Plastic), Operating Type (Direct, Semi-direct, Indirect), End User (chemical & petrochemical, food & beverages)- Forecast 2027” the key companies operating in the global solenoid valves market are Curtiss-Wright Corporation, Asco Valve, Inc., Parker Hannifin Corporation, IMI PLC, GF Piping Systems, SMC Corporation, Danfoss A/S, OMEGA Engineering, Christian Burkert GmbH & Co. Kg, GSR Ventiltechnik GmbH & Co. KG, Emerson Electric Co., Rotex Controls B.V, The Lee Company, Cole-Parmer Instrument Company LLC, Hansen Technologies, Cla-Val, Aira Euro Automation Pvt. Ltd., AirTAC International Group, Anshan Solenoid Valve Co. Ltd, Kankeo Sangyo Co. Ltd., ABB Ltd., CEME SpA. The key players are focusing more on the improvement of new technologies which can provide improved features or better performance.
Solenoid valve is a device or appliance which uses a solenoid to direct valve activation. Solenoid valve is mainly designed for withstanding the corrosive & humid environments. It is generally made of stainless steel components. It is used in fluidics as a control element. It is increasingly being utilized in food preparing industry. In the food industry, valves come in two distinct variations: utility service valves and direct contact valves. Utility service valves do not come in direct contact with the food materials while direct contact valves are come in direct contact with the food items & are safe from corrosion. Solenoid valves perform various tasks such as release, mix or distribute fluids and shut-off. The key advantages are included high reliability, extended service life, fast and safe switching, compact design and low control power.
Based on type, global solenoid valves market is segmented into 2 way, 3 way, 4 way and 5 way. Based on component, market is segmented into brass body, stainless steel, aluminum body and plastic body. Brass body is expected to hold the major market share due to high thermal conductivity. Based on operating type, market is segmented into direct operating, semi-direct operating and indirect operating. In addition, based on end-user industry, market is segmented into food & beverage, pharmaceuticals, chemical & petrochemical, aerospace & defense, water treatment, automotive, power generation and oil & gas.
The solenoid valves market is driven by growth in development of application specific solenoid valves, followed by increase in adoption of solenoid valves in food & beverages industry and rise in shift to renewable sources for power generation. However, compatibility and technical issues may impact the market. Moreover, an increase in demand in wastewater treatment industries is a major opportunity for market. Furthermore, development of new solenoid valves for instance pinch valves, customized valves, and micro-miniature valves are key trends for market.
Based on geography, the North-American region holds major share, followed by European region in global solenoid valves market owing to increase in applications of solenoid valves into various industrialized sectors, lower price and poor consumption of power in the region. Asian-Pacific region is expected to witness considerable growth due to growth in the global economies and advancement in manufacturing technologies over the forecast period. It is estimated that the market will be reached at US $4.6 billion, by 2023.
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Ankur Gupta, Head Marketing & Communications