During the forecast period, the global solenoid valve market is expected to grow steadily. The market growth is driven by the increasing concerns related to water pollution and the need to eliminate organic pollutants from contaminated water, resulting in higher demand for wastewater treatment. Solenoid valves are extensively used in water treatment plants for various functions, thus driving the market growth until 2027. Moreover, solenoid valves offer advantages such as affordability, reliability, compact size, and safe & fast switching options, which are expected to further fuel the market growth in the upcoming years. However, power failure and voltage fluctuation issues could hinder market growth during the forecast period.
The global solenoid valve market is segmented by body material, design type, operating type, end-user industry, company, and region. The market can be categorized based on body material, including stainless steel, brass, aluminum, plastic, and others. Brass body material is expected to dominate the market due to its thermal conductivity and non-corrosive applications. The market can also be grouped based on end-user industry, including oil & gas, water & wastewater, food & beverage, chemical & petrochemical, power generation, automotive, pharmaceuticals, and others. The oil & gas industry is expected to dominate the market due to the extensive use of solenoid valves in the extraction process.
Regionally, the solenoid valve market is segmented into Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. North America is expected to dominate the market share in the overall solenoid valve market owing to the extensive use of solenoid valves for oil & gas extraction and wastewater treatment.
ASCO Valve, Inc., Christian Bürkert GmbH & Co. KG, Curtiss-Wright Corporation, Danfoss Industries Ltd., GSR Ventiltechnik GmbH & Co. KG, Emerson Electric Company, Eaton Corporation, IMI Precision Engineering, Parker Hannifin Corporation, Omega Engineering, and others are some of the major players operating in the solenoid valve market. Major companies are developing advanced technologies and launching new products to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study:
- To analyze and estimate the market size of global solenoid valve market from 2017 to 2020.
- To estimate and forecast the market size of global solenoid valve market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global solenoid valve market based on body material, design type, operating type, end user industry, company and regional distribution.
- To identify dominant region or segment in the global solenoid valve market.
- To identify drivers and challenges for global solenoid valve market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global solenoid valve market.
- To identify and analyze the profile of leading players operating in global solenoid valve market.
- To identify key sustainable strategies adopted by market players in global solenoid valve market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global solenoid valve market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Solenoid valve manufacturers/ suppliers/ distributors
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to solenoid valve
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Browse more than 120 market data Tables and Figures spread through 110 Pages and an in-depth TOC on"Global Solenoid Valve Market, 2027"
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