Electrical current is used to operate electromagnetic valves, also referred to as solenoid valves. They are made up of two basic components: the solenoid and the valve body (coil). A core with a moveable closing plunger is encircled by a wound copper wire that makes up the solenoid. The coil’s job is to generate a magnetic field using the electric current that flows through it, which causes the piston to move and either open or close the valve. Thus, solenoid valves transform electrical current into linear motion.
Report Analysis
According to the research report, “Global Electromagnetic Valves Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” states that the market is driven by rising application areas and advancements in fluid automation technologies. Likewise, with the expanding utilization in the burgeoning chemical and machinery industry. Further, it is being extensively used in various applications owing to its property for controlling fluid flow automatically. In view of regional analysis, the Global Electromagnetic Valves are Asia-Pacific, Europe, North America, South America, and the Middle East & Africa.
The Global Electromagnetic Valves Market on the basis of Product Type are Direct-Acting Electromagnetic Valves, Sub-Step Direct-Acting Electromagnetic Valves, and Pilot-Type Electromagnetic Valves. In terms of end-use segment, the Global Electromagnetic Valves are Machinery Industry, Automobile, Agriculture, and others.
Key Players
Some major key players in the Global Electromagnetic Valves Market are:
ASCO Valve
Kendrion
Danfoss
Parker Hannifin Corporation
Burkert
SMC
CKD Corporation
CEME
YPC
ODE
Norgen
Sirai
Saginomiya
Takasago Electric Industry Co. Ltd.
PRO UNI-D
Airtac
Zhejiang Sanhua
Others
Regional Analysis
The Global Electromagnetic Valves Market in terms of regional analysis segment incorporates Asia-Pacific, Europe, North America, South America, and the Middle East & Africa.
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According to projections, North America will continue to dominate the global electromagnetic valves market during the forecasted period of 2020-2024. This remarkable market rise is due to the expansion of application areas and the development of fluid automation technology. In addition, Due to ongoing improvements in manufacturing & machinery facilities, electromagnetic valves are being used more frequently to automate a number of production processes, which is influencing the market’s growth.
Additionally, it is anticipated that Europe would significantly increase its market share for electromagnetic valves due to the rise in demand for electromagnetic valves in the food and beverage and healthcare sectors, driven by stringent regulations and high healthcare spending, which will drive the market expansion. Likewise, the region’s electromagnetic valve market share is boosted by a large number of medical device manufacturers and growing demand for different electromagnetic valve parts.
Globally, the Asia Pacific area is predicted to become a lucrative market for electromagnetic valves. The area is one of the strongest competitors in the worldwide market due to the increasing demand for electromagnetic control valves and the expansion potential provided by a number of end-use industries. The growth of the regional market is also fueled by the notable rise of key end-use industries like the automotive, healthcare, food & beverage, and construction sectors.
Future Outlook
In the impending years, the Global Electromagnetic Valves market will experience significant growth and is anticipated to grow considerably in the forecasted period of 2020-2024. Due to its rising utilization in domestic as well as industrial applications. Further, the market for solenoids, which are widely used in cars to control the flow of automotive fluids like oil, anti-skid braking fluid, and petrol, is poised for lucrative expansion as demand for cars increases.
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Global Electromagnetic Valves Market
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