Governments and independent organisations creating solenoid valve standardizations is leading to greater frequency of international trade driving the global solenoid valves market.
The size of the global market for Solenoid Valves is expected to reach USD 5.66 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.01%.
Covid-19 Impact & Market Status
Due to the global shutdown caused by the COVID-19 epidemic, numerous end customers in the solenoid valves business suspended output thereby impeding the growth of Global Solenoid Valves Market. COVID-19 has already had an influence on solenoid valve sales since the second quarter of 2020 and is expected to have a negative impact on Global Solenoid Valves Market growth in the first half of 2022 due to the significant fall in manufacturing operations.
Solenoid valve demand was formerly strongest in big industrial countries such as the United States, Italy, Germany, the United Kingdom, and China, which have been severely impacted by the coronavirus, resulting in decreasing demand for solenoid valves. Manufacturers of solenoid
However, since the impact of pandemic is reduced and restrictions are lifted, the manufacturing and processing industries have showed indications of revival. This is a good sign of growth to the global solenoid valves market.
Direct-Operated Solenoid Valve Is In More Demand
The global solenoid valves market is classified into direct-operated solenoid valves, semi-direct operated solenoid valves, indirect operated on the basis of Principal of Operation. Among these, the direct-operated solenoid valve is in more demand. Direct-operated solenoid valves consume less energy, are less expensive to maintain, and may be utilised for both vertical and horizontal tasks. They can withstand severe temperatures and guard against leaking. These benefits of direct-operated solenoid is increasing its market demand.
Brass Material Solenoid Valve Segment Dominated The Worldwide Solenoid Valves Application Industries
The global solenoid valves market is classified into brass, nickel, stainless steel on the basis of Material. Among these, the brass material solenoid valve is very common as it is suitable for most substances. The brass material solenoid valve is most suitable for different applications.
Most Flourishing Segment For Solenoid Valves Is Industrial Equipment
The global solenoid valves market is classified into medical, appliance, transportation, power generation and industrial equipment, and other light to heavy-duty service applications on the basis of applications. The most flourishing segment for solenoid valves is industrial equipment. This segment is expected to grow at a faster rate in forecasted years.
North America Offers Lucrative Investment Opportunities to Market Players
The oil and gas sector uses solenoid valves extensively, which has fuelled Global Solenoid Valves Market growth. The solenoid valve has several features that help companies regulate machinery, dosing, mixing, and regulating the flow of liquids or gases. Furthermore, in automated systems, solenoid valves are used to control fluid flow and produce movements in the process. The region’s expanding demand for safe and hygienic water supplies is driving up demand for water treatment plants. The need for solenoid valves is predicted to increase in the region as a result of the country's growing industries and their need for automation of processes like liquid or gas flow, among other things.
The increasing need of automatic fluid flow controllers for varied types of plants and equipment is improving the reliance on solenoid valves furthering the development of global solenoid valves market.
Solenoid valves consume low energy, cost effective, compatible with AC and DC, capable of operating in challenging temperatures, and can operate both vertically and horizontally. Moreover, solenoid valves can be remotely operated, safe and rapid switching, reliability, long service life, and have compact design. Owing to these benefits the solenoid valves are experiencing rapid adoption as opposed to traditional alternative to flexible hoses and flow divert panels. This is fostering remarkable progress of global solenoid valves market.
Solenoid valves convert electrical energy into motion. The advantages such as faster response time, electrical safety, safer, efficient, versatile, and adaptability to number of applications encourage further adoption of solenoid valves. These factors collectively influence rapid adoption of global solenoid valves market. The Global Solenoid Valves Market is expected to reach close to USD 6.72 Billion by 2030 and grow at a CAGR of 5.25% over the forecast period 2022 to 2030.
Solenoid valves are control mechanisms that enable or prevent fluid flow. When electricity is applied, a magnetic field is created, which pushes a plunger against the spring's action. The plunger springs back to its original position when the electrical source is turned off. Three-way valves feature three port connections and two valve seats, whereas direct acting two-way valves are shut-off valves. One of the most prevalent components in fluidics is the solenoid valve. As the world's population has expanded, so has demand for food, water, and drinks, as well as drugs and health-care supplies. The price of gasoline and petroleum goods has risen dramatically. These reasons have fuelled the expansion of the solenoid valve market, which is widely utilised in the food, water, and pharmaceutical industries. The use of solenoid valves in the oil and gas sector has grown as demand for gasoline and petroleum products has increased. Furthermore, the availability of solenoid valves in a variety of materials, sizes, and requirements has broadened the scope of their application.
Direct acting solenoid valves are becoming increasingly popular in the market due to their lack of a diaphragm. This ensures that the valves stay closed even when there is no pressure exerted. Because of its basic principles, valves are used in a wide range of industries. The lightweight, compact, and cost-effective design of these valves has facilitated their market development. Because these valves have high shifting forces, rapid constant reaction times, and a longer life, they are used more often in automotive applications. These solenoid valves have greater switching cycles, as well as a longer service life, which will help the industry develop. Direct acting solenoid valves, unlike other forms of operation, may be used in negative pressure circuits and come in both open and closed variants. The widespread use of direct acting solenoid valves in hazardous site applications is fuelling a significant market expansion.
However, fluctuating raw material and energy prices are a key stumbling block to the solenoid valve market's expansion. Also, solenoid valves are very sensitive to dirt and can only work with clean liquids or gases. These are few restraints that may hamper the global solenoid valves market growth.
Furthermore, the global solenoid valves market has lucrative growth opportunities due to growing manufacturing of vehicles and increasing popularity in a variety of industries such as residential, appliance, industrial, and other owing to aforementioned advantages. Moreover, higher frequency of international trade, collaborations between companies, standards implemented by governments to improve their environmental friendliness to focus on health and sustainability is driving the global solenoid valves market.
The key players in global solenoid valves market are Emerson Automation Solutions, HYDAC Technology, The Lee Company, Swagelok Company, Bimba Manufacturing, AVENTICS, Ausco, Aquatrol, All Air, Alkon, Aalborg Instruments & Controls, Humphrey Products Company, Burkert Fluid Control Systems, Solenoid Solutions, Magnatrol Valve, and International Polymer Solutions among others. These companies dominate the worldwide solenoid valves market. They are experienced in providing products across a wide range of industries and committed to bringing to the customers the best when it comes to high quality products.
Latest Innovation in the Global Solenoid Valves Market: A Snapshot
- Hydraulics is becoming increasingly digital, surrounded by smarter devices; even "bang-bang" valves will not be forgotten. Cheaper sensors are increasingly being incorporated in more essential industrial systems and mobile equipment. Data on efficiency, performance, temperature, flow, and pollution may now be collected from whole electrohydraulic systems.
Solenoid Valves Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 6.72 Billion|
|Growth Rate||CAGR of 5.25 % during 2022-2030|
|Segment Covered||Principal of Operation, Application, Medium, Size, Material, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Emerson Automation Solutions, HYDAC Technology, The Lee Company, Swagelok Company, Bimba Manufacturing, AVENTICS, Ausco, Aquatrol, All Air, Alkon, Aalborg Instruments & Controls, Humphrey Products Company, Burkert Fluid Control Systems, Solenoid Solutions, Magnatrol Valve, and International Polymer Solutions among others.|
Key Segments of the Global solenoid valvesMarket
Principal of Operation Overview, 2019-2029 (USD Billion)
- Direct-Operated Solenoid Valves
- Semi-Direct Operated Solenoid Valves
- Indirect Operated Solenoid Valves
Medium Overview, 2019-2029 (USD Billion)
- Neutral Liquids
Size Overview, 2019-2029 (USD Billion)
- 1/8 Inch
- ¼ Inch
- 3/8 Inch
- ½ Inch
- 1 Inch
- And Other Sizes
Material Overview, 2019-2029 (USD Billion)
- Stainless Steel
Application Overview, 2019-2029 (USD Billion)
- Power Generation
- Industrial Equipment
- Other Light To Heavy-Duty Service Applications
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa