China Solenoid Valve Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Solenoid valve is an electro-mechanical valve which is commonly employed to control the flow of liquid or gas, thereby eradicating the need for an engineer to manually control the valve, saving time and money. The China Solenoid Valve Market is projected to make a forward leap in its revenue from US$ 555 Mn in 2021 to US$ 1,057.2 Mn by 2030. The market is registering a CAGR of 7.4% during the forecast period 2022-2030. 

In terms of volume, the market is registering a CAGR of 6.7% over the projection period. A solenoid valve operates using an in-built actuator in the form of an electrical coil and a plunger. An electrical signal controls the opening and closing of the solenoid valve. There are two modes in which solenoid valves are produced – Open and Closed and is operated using an AC or DC.

The market is majorly driven by factors such as the availability of raw materials in the country and rising adoption in various industrial applications. China is the largest producer of many raw materials used in the production of solenoid valves such as steel, aluminum, and other metals. Further, the country is also the second highest consumer of oil & gas and is the largest automotive manufacturer in the world, which in turn is fueling the market growth. Moreover, solenoid valves are used in various industry verticals. For instance, the valves are employed in medical devices such as ventilators, gas plants, suction machines, and others as they allow for precise flow control options and moderate the oxygen flow rate with great speed and precision which provides effective patient care. Furthermore, solenoid valves are used in transportation industries for controlling pantographs, sliding or automatic doors, braking systems, suspensions, and others. In addition, various home appliances use solenoid valves such as RO water purifiers, sewing machines, thermoelectric heaters, refrigeration systems, washing machines, air conditioners, and water pumps & tanks, among others. However, the large dependency on counterfeit products supply is hindering the market growth. 

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes China Solenoid Valves Market for the study period of 2017-2030; where historical years are 2017-2020, base year is 2021 and forecast period is 2022-2030.  
• The research report offers detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with attractive presentation in the form of impact analysis to gain a simpler and easy comparison view of all market determinants.  
• The research study is a compilation of 10 chapters distributed across 175 pages with 9 lists of tables and 26 lists of figures.  
• The market is segmented based on type, function, material, operation, media, and end use industry. 
• The market estimates are presented in terms of value (US$ Mn) and volume (Thousand Units).
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models. 
• A detailed value chain analysis of the industry was conducted. It includes raw material providers, solenoid valve manufacturers, distributors, and end-users. 
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.  

Key Takeaways from the China Solenoid Valves Market Report:

• Based on type, the direct-acting valves segment holds the highest share in the solenoid market of China in 2021 and registers the highest CAGR over the projection period. Direct acting solenoid valves have a simple working principle. Direct operated solenoid valves require no minimum operating pressure or pressure difference, so they can be used from 0 bar up to the maximum allowable pressure. Further, high deployment of direct acting solenoid valves in hazardous location is contributing towards a major market growth. 
• In terms of function, the 2-way segment records the highest market share in 2021 and further registers the highest growth rate over the forecast period. A 2-way solenoid valve has two ports - an inlet and an outlet. Flow direction is critical to ensure proper operation, so there is typically an arrow indicating the flow direction. A 2-way valve is used to open or close the orifice. Further, the 2-way segment is augmenting the market growth owing to its properties such as strong corrosion resistance, tightly wounded and beautiful appearance. 
• Based on material, stainless steel holds the highest share in the China Solenoid Valves Market in 2021 and registers the highest CAGR over the forecast period. Stainless steel solenoid valves are ideal for use in certain aggressive media and chemical applications. 
• In terms of operation, the normally open segment dominates the solenoid valves market of China in 2021. A normally open solenoid valve is ideal for applications that require the valve to be open for long periods of time as it is then more energy efficient. For a normally open solenoid valve, the valve is open when de-energized and the media can flow through it.
• In terms of media, the air segment holds the highest market share in 2021. Further, the air segment is also recording the highest CAGR over the forecast period. Air conditioning systems use solenoid valves to control air pressure.
• Based on end use industry, the oil & gas segment registers the highest share in the solenoid valves market of China. Low temperature stainless steel shutoff valves are utilized for on/off control of fuel gas within gas fuel trains in process heating system burners. These systems are widely used by oil-and-gas firms and original equipment manufacturers (OEMs) that operate or produce gas heating equipment or burner management systems (BMSs) in upstream pipelines and tanks. Further, China is the world’s second largest consumer of oil & gas, thereby expected to propel market growth. 

Competitive Dashboard

The key players in the China Solenoid Valves Market are Airtac, Danfoss A/S, Emerson, Parker, CKD Corporation, Curtiss-Wright Corporation, Parker, and Festo Corporation, among others. 

Segmentation Overview

The following are the various segments of the China Solenoid Valves Market:

By Type segment of the China Solenoid Valves Market is sub-segmented into: 

• Direct-acting valves
•  Pilot-operated valves

By Function segment of the China Solenoid Valves Market is sub-segmented into: 

•  2-way
•  3-way
•  4-way
• 5-way

By Material segment of the China Solenoid Valves Market is sub-segmented into: 

• Stainless Steel
• Aluminum
• Plastic
• Others

By Operation segment of the China Solenoid Valves Market is sub-segmented into: 

• Normally open
• Normally closed
• Universal

By Media segment of the China Solenoid Valves Market is sub-segmented into: 

• Air
• Gas
• Water

By Industry segment of the China Solenoid Valves Market is sub-segmented into: 

• Oil & Gas
• Chemical & Petrochemical
• F&B
• Power Generation
• Pharmaceuticals
• Automotive
• Medical
• Others