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

Global Solenoid Valves Market – (By Type - Direct-acting valves and Pilot-operated valves; By Function – 2-Way, 3-Way, 4-Way, and 5-Way; By Material - Stainless Steel, Aluminum, Plastic, and Others; By Operation - Normally open, Normally closed, and Universal; By Media – Air, Gas, and Water; By Industry - Oil & Gas, Chemical & Petrochemical, F&B, Power Generation, Automotive, and Others; and By Region) - Industry Dynamics, Market Size, Opportunity and Forecast to 2030

  • Published On: 20-Jun-2022  |  Format: pdfpowerpointexcel  |  Report ID: AA0622278
    Delivery: 2 to 4 Hours

FREQUENTLY ASKED QUESTIONS

Global Solenoid Valves Market was valued at US$ 4,222.7 Mn in 2021.

Solenoid valve is an electro-mechanical valve that is commonly employed to control the flow of liquid or gas, thereby eradicating the need for an engineer to manually control the valve. 

Global Solenoid Valves Market is projected to expand at a CAGR of 5.6% during the forecast period.

The market is majorly driven by factors such as the surging adoption of solenoid valves in the food & beverage industry and the expanding attention toward renewable energy for power generation.

Technical problem associated with solenoid valves is expected to hinder the market growth. 

Growing application of solenoid valves in the wastewater treatment industry is providing a lucrative opportunity for market growth.

The various segmentations considered to analyze the Global Solenoid Valves Market are based on type, function, material, operation, media, end-use industry, and region. 

Direct-acting valve holds the highest market share in 2021.

Stainless-steel material segment dominates the Global Solenoid Valves Market. 

Normally open segment holds the highest market share in 2021. 

Chemical & petrochemical industry is the highest end-use industry in the Global Solenoid Valves Market.

The key players in the Global Solenoid Valves Market are Danfoss Industries Limited, Curtiss-Wright Corporation, Emerson Electric Co., and Parker Hannifin Corporation, among others