Rising demand for automation in several end-use sectors, such as healthcare, transport and logistics, and Food & Beverage (F&B), is a key factor driving market revenue growth
Increasing number of supportive government initiatives in the form of funds and investments
The global Solenoid Valve Market size was USD 4.35 Billion in 2022 and is expected to register a steady revenue CAGR of 4.9% over the forecast period, according to a latest report by Reports and Data. Technological advancements and rising need for automation fluid control are major factors driving market revenue growth. Solenoid valve is a device used for controlling flow of liquid or gaseous elements. Mechanism of this valve is based on principle of electromagnet force to operate various functions of the valve.
In addition, various initiatives undertaken by government authorities and major companies is also significantly driving market revenue growth. For instance, according to the International Trade Administration (ITA), China emitted 55.7 billion cubic meters of wastewater in 2020, with 26% of wastewater coming from industrial sources. The industrial wastewater market in China will be worth USD 19.4 billion by 2025. China intends to invest USD 50 billion in various heavily polluting industries, including textiles, printing, coal mining, pharmaceutical production, Oil & Gas (O&G) extraction, and steel production, as a part of its development goal to move towards a more sustainable and clean economy. This country also has the greatest number of treatment facilities, 39,000 new facilities were built in 2020, spurring additional expansions. Moreover, strategic initiatives taken by various leading firms in the global market through mergers, acquisitions, partnerships, and various other strategic alliances are also significantly driving market revenue growth.
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Top Lading Players: Emerson Electric Co., Bürkert Fluid Control Systems, Parker Hannifin Corp, Danfoss, Norgren, Takasago Electric, Inc., Rotex Automation, Ceme Group, ODE, and The Lee Company, among others.
Some Key Highlights from the Report:
- The pilot operated segment is expected to register a considerably fast revenue growth rate over the forecast period. This is due to increasing operation of valves facilitated by pressure, which is ideal for large flows and more cost-effective for higher flow values, along with lower levels of electrical power. The pressure difference of medium over valve ports is used by pilot-operated solenoid valves for opening and closing. These valves have minimal power requirements, excellent flow rates, and a wide operating temperature and pressure range.
- The stainless steel segment is expected to account for significantly large revenue share over the forecast period. This is due to high compatibility strength with the outside environment, convenience of manufacture, and resistance against corrosion. The optimum option for use in certain corrosive media and chemical applications is a stainless steel solenoid valve. Solenoid valves are crucial for remotely or automatically controlling flow and transfer of liquids wherever water, chemical mixtures, oil, and gases are transported through pipes. They are used in various other applications, such as commercial solenoid pumps, armatures, relays, and cores, with the purpose of managing and controlling flow of corrosive fluids.
- The Food & Beverage (F&B) segment is expected to account for largest revenue share over the forecast period. This is due to increasing adaptability to various temperatures, low power consumption, ease of installation, and flexible remote operations. Resistance to impurities is one of the major factors for stainless steel to be rapidly employed for construction of solenoid valves. Moreover, this is also rising demand for solenoid valves in food and beverage processing.
Segments covered in the report:
Type (Revenue, USD Billion; 2019-2032)
- Two way
- Three way
- Four way
Operation Outlook (Revenue, USD Billion; 2019-2032)
- Direct acting
- Manual reset
- Pilot operated
Material Outlook (Revenue, USD Billion; 2019-2032)
- Stainless steel
Size Outlook (Revenue, USD Billion; 2019-2032)
- Sub miniature
- Micro miniature
- Large diaphragm
- Small diaphragm
End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Food & Beverage (F&B)
- Aerospace and defense
- Water and wastewater
- Chemical and petrochemical
- Oil and Gas (O&G)
- Healthcare and pharmaceutical
- Power generation
Utilization Outlook (Revenue, USD Billion; 2019-2032)
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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