The global market for electromagnetic proportional valves is expanding as a result of the growing demand for energy-saving and environmentally friendly solutions. The global market for electromagnetic proportional valves is expanding as a result of the growing use of these devices in instruments, meters, medical equipment, industrial equipment, and other applications. The market is expanding due to the accessibility of cutting-edge technological features like digital filters, pressure transducers, and temperature compensation.
The global market for electromagnetic proportional valves is being driven by the demand for dependable and effective control solutions. Additionally, expanding government programs to promote energy efficiency are fueling the market's expansion. This market is expanding as a result of the rising demand for safe and automated working environments in various industries.
Low power consumption, extended operation, and precise control are benefits of the global market for electromagnetic proportional valves. These proportional valves are also affordable and simple to install. They also need little maintenance and perform better in challenging working conditions.
An electro-mechanical device called an electromagnetic proportional valve controls the flow of a liquid or gas in a variety of systems. It is made up of a spool, coils, and a feedback mechanism that regulates the electrical current applied to the coil in order to help change the flow rate. Depending on its use, the valve can be operated remotely or manually.
At a CAGR of 5.1% over the forecast period, the market for electromagnetic proportional valves is anticipated to increase from USD 1.06 billion in 2021 to USD 1.48 billion by 2031.
The rising demand for electromagnetic proportional valves in a variety of applications, including industrial equipment, medical equipment, instrument and meter, and other applications, can be credited with the expansion of this market. Furthermore, the global market for electromagnetic proportional valves is expanding as a result of the rising demand for environmentally friendly and energy-efficient solutions.
The market's expansion is being hampered by the high initial cost involved with the implementation of these valves. Additionally, the market growth is being constrained by a lack of qualified personnel to install and operate these valves. Further impeding the expansion of this market are strict regulations governing emissions from industrial equipment.
Emerson Electric Co., Parker Hannifin Corporation, Eaton Corporation plc, Bosch Rexroth AG, Danfoss A/S, Festo AG & Co. KG, SMC Corporation, and Norgren Pneumatic Engineering Ltd. are a few of the major companies active in the global electromagnetic proportional valve market. To increase their market presence, these important players are concentrating on strategic alliances and partnerships. Additionally, they are spending money on R&D projects to release advanced products with improved features.
The Direct-Acting Type segment to form major portion of the market
During the anticipated period, the direct-acting type segment is anticipated to experience significant growth. This is explained by a number of its benefits, including low power consumption, extended operation, and precise control. These valves are also simple to install and require little upkeep.
Industrial Equipment segment segment to be on top of the market
The industrial equipment segment is anticipated to grow significantly during the forecast period among the various applications. The market is expanding as a result of the growing emphasis on automation in heavy-duty industrial activities like material handling, steel production, and transportation. Additionally, developments in technology like the Internet of Things (IoT) are fostering the expansion of the industrial equipment market.
Asia Pacific to dominate the market
In terms of market value, Asia Pacific is anticipated to experience the fastest growth during the forecast period. The development of new manufacturing facilities in this area, along with the rising demand for automated, efficient industrial processes, are fueling the market's expansion. Additionally, growing investments from major players in developing economies like China and India are promoting this market's expansion in the Asia Pacific region.
Covid-19 Impact & Market Status
The electromagnetic proportional valve market was affected by the novel coronavirus (COVID-19) on account of supply chain disruptions and a decline in demand. To cope with this, major companies have either stopped or halted their production activities and shifted to remote working. The growing popularity of automation has provided some relief to the industry as it is witnessing an increased demand for automation solutions. The market is expected to recover in 2021 and reach pre-COVID levels by 2022.In general, the COVID-19 pandemic has had a significant impact on global economic activity, leading to disruptions in supply chains, changes in consumer behavior, and declines in demand for certain products and services. Some industries, such as travel and hospitality, have been particularly hard hit, while others, such as online retail, have seen an increase in demand. It is possible that the demand for electromagnetic proportional valves may have been affected by these changes in demand, but without more information, it is difficult to say for certain.
Latest Innovations in the Global Electromagnetic Proportional Valve Market: A Snapshot
In October 2019, Eaton Corporation plc acquired Cooper Industries plc, with the aim of expanding its presence in the power and industrial segments.
Festo AG & Co. KG launched its new product, the GAPMIS proportional pressure regulator, in August 2019. This product is designed to reduce energy consumption and enhance productivity with improved accuracy.
Electromagnetic Proportional Valve Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 1.48 billion|
|Growth Rate||CAGR of 5.1% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Emerson Electric Co., Parker Hannifin Corporation, Eaton Corporation plc, Bosch Rexroth AG, Danfoss A/S, Festo AG & Co. KG, SMC Corporation, and Norgren Pneumatic Engineering Ltd.|
Key Segment of Electromagnetic Proportional Market
By Type Overview 2021-2031, (USD Billion)
• Direct-acting Type
• Pilot-operated Type
By Application Overview 2021-2031, (USD Billion)
• Industrial Equipment
• Medical Equipment
• Instrument and Meter
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa