Solenoid Valves Market Size, Share, Growth, and Industry Analysis, By Type (Direct-acting Type, Sub-step Direct-acting Type and Pilot-type), By Application (Home Appliance, Automobile, General Industry, Automation and Others) and Regional Insights and Forecast To 2031

Updated On: 06 May 2024

SOLENOID VALVES MARKET REPORT OVERVIEW

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The global solenoid valves market size was USD 4217.5 million in 2019 and the market is projected to touch USD 5419.1 million by 2026, at CAGR of 3.6% during the forecast period.

A solenoid valve is an electromechanical device that is used to control the flow of liquids or gases in a system. It consists of a solenoid, which is an electromagnetically operated coil, and a valve assembly. The solenoid is energized when an electric current passes through it, creating a magnetic field that moves a plunger or a valve mechanism. This movement either opens or closes the valve, allowing or blocking the flow of the fluid. The solenoid valve contains a coil of wire that is wound around a core. When an electrical current is applied to the coil, it generates a magnetic field. Connected to the core of the solenoid is a plunger or a movable valve mechanism. When the solenoid is energized, the magnetic field causes the plunger or valve to move.

The movement of the plunger or valve either opens or closes the flow path within the valve body.  When the valve is open, fluid can flow through; when it's closed, the flow is blocked. When the electrical current is removed (the solenoid is de-energized), a spring or other mechanical means returns the plunger or valve to its original position, changing the valve state (open or closed) accordingly. They are commonly used in water and gas systems to control the flow of liquids or gases. Solenoid valve is crucial components in automated systems, where remote or automatic control of fluid flow is required.

COVID-19 Impact: Demand Fluctuations to Hinder Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic has disrupted global supply chains, affecting the production and distribution of various industrial components, including solenoid valve. Restrictions on movement, lockdowns, and other measures have led to delays in the manufacturing and transportation of goods. The solenoid valves market is closely tied to industries such as manufacturing, oil and gas, automotive, and others. Many of these sectors experienced fluctuations in demand due to lockdowns, reduced consumer spending, and economic uncertainties caused by the pandemic. Capital projects in industries like construction, infrastructure, and manufacturing were often delayed or put on hold as businesses faced challenges related to the pandemic. This could impact the demand for solenoid valves used in these projects.

LATEST TRENDS

"Miniaturization and High-Performance Materials to Drive Market Growth"

Solenoid valves are increasingly being integrated into smart and connected systems as part of the broader trend of Industry 4.0. This involves the use of sensors, communication technologies, and data analytics for improved monitoring, control, and efficiency in industrial processes. There is a continued emphasis on miniaturization of components in various industries. Solenoid valve manufacturers are developing smaller, lightweight, and high-performance valves to meet the demands of compact and portable devices. Energy efficiency remains a key focus across industries. Solenoid valve manufacturers are developing energy-efficient valves to reduce power consumption and operational costs. This is particularly important in applications where valves are used frequently or in systems with large numbers of valves.

SOLENOID VALVES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into direct-acting type, sub-step direct-acting type and pilot-type.

In a direct-acting solenoid valve, the solenoid directly controls the opening and closing of the valve. When the solenoid is energized, it lifts the plunger or the valve mechanism, allowing the fluid to flow through. The sub-step direct-acting solenoid valve is an improvement over the direct-acting type. It includes a small pilot orifice in addition to the main orifice. When the solenoid is energized, it opens the pilot orifice first, allowing a small amount of fluid to pass through.  Pilot-type solenoid valves utilize a pilot valve in conjunction with the main valve.

• By Application

Based on application the global market can be categorized into home appliance, automobile, general industry, automation and others.

This category includes a wide range of electrical and mechanical devices used within households for various purposes.

The automobile industry involves the design, manufacturing, marketing, and sale of motor vehicles. This sector includes various types of vehicles, such as cars, trucks, motorcycles, and electric vehicles. The term "General Industry" is broad and typically refers to various industrial sectors and manufacturing processes that are not specifically categorized under other specialized industries. It includes a diverse range of applications, such as metalworking, plastics manufacturing, textiles, chemicals, and other non-specialized manufacturing activities. The automation industry involves the use of technology to perform tasks with minimal human intervention.

DRIVING FACTORS

"Versatility and Wide Applications to Augment the Market"

The increasing adoption of automation and Industry 4.0 principles in industrial processes requires precise and reliable control of fluid flow. Solenoid valve play a crucial role in automated systems, providing quick and accurate on/off control. Solenoid valve is versatile and find applications in a diverse range of industries, including manufacturing, water treatment, healthcare, automotive, oil and gas, and more. The wide range of applications contributes to their consistent demand. Solenoid valve offer quick response times and precise control, contributing to energy efficiency in various systems. Their ability to operate with minimal energy consumption is a significant driving factor, especially in applications where frequent on/off cycles are required.

"Rise in Water and Wastewater Treatment to Expand the Market"

Many industries must adhere to specific regulations and standards regarding fluid control and safety. Solenoid valve that meet these regulatory requirements are in demand to ensure compliance in areas such as food and beverage, pharmaceuticals, and healthcare. Solenoid valve is often considered cost-effective solutions for fluid control applications. Their relatively simple design and efficient operation contribute to their affordability compared to some alternative valve types. The increasing focus on water and wastewater treatment, driven by environmental concerns and regulations, has led to a growing demand for solenoid valves market growth in water management systems.

RESTRAINING FACTOR

"Limited Control Precision to Potentially Impede Market Growth"

Solenoid valve may have limitations in terms of size and pressure range compared to other types of valves. In applications requiring extremely high pressure or large flow rates, alternative valve types may be preferred. While solenoid valve offers quick on/off control, they may not provide the same level of precision in flow control as some other types of valves. In applications where precise modulation of flow rates is critical, alternative valve types with better control characteristics might be preferred.

SOLENOID VALVES MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market due to Economic Growth"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East &Africa

Asia Pacific, particularly China, has been a major manufacturing hub for various industries, including automotive, electronics, and machinery. The demand for solenoid valve in manufacturing processes and automated systems has contributed to the growth of the market in this region. The rapid industrialization in countries like China and India has driven the adoption of solenoid valve across a wide range of applications, including water treatment, oil and gas, and food and beverage. Robust economic growth in the APAC region has led to increased investments in infrastructure and industrial projects, further boosting the demand for solenoid valves market share.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• ASCO (U.S.)
• Kendrion (Netherland)
• Danfoss (Denmark)
• Parker (U.S.)
• Bürkert (Germany)

INDUSTRIAL DEVELOPMENT

September, 2022: The integration of solenoid valves into smart and connected systems is a significant development. Industry 4.0 principles have led to the creation of intelligent valve solutions with sensors and communication capabilities. This allows for real-time monitoring, data collection, and remote control, enhancing overall system efficiency and predictive maintenance.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.