Solenoid Valve Market - Overview
A solenoid valve is operated by electric and mechanical operations. It is controlled by an electric current passing through a solenoid, acting as a switch for on and off operation. The solenoid valve is market has most of the applications in oil & gas industry, chemicals and petro-chemicals industry where there is a mandate to maintain the flow of fluid, by controlling the solenoid valve. Automotive solenoid valves is the most fastest growing industrial segment, majorly due to increase in production level of vehicles through automation, electrification of vehicles, installation of heating and ventilation systems in automotive. The solenoid valve is a uni-directional valve that can only be controlled by the electrical current passing through it, making it suitable for manufacturing operations where a high level of scalability is required. In addition to the electric control, the market is also driven by the low power consumption, technological advancements and automatic flow systems.
The requirements for fluid control systems in medical technologies as compared to other industrial areas have changed significantly. The goal is to minimize liquid consumption, size, dosing and wash cycles, and distance to the application. Bürkert has developed a new micro-valve that fits in miniature apparatus. Due to its compact size and excellent flushability, the new micro-valve is ideal for applications in lab environments. Typical examples of such applications are the analysis of blood or urine. This ideally has increased the application of solenoid valve in medical and healthcare industry.
The global Solenoid Valves Market is expected to grow at approx USD 5.28 Billion by 2026, at 4.35% of CAGR between 2019 and 2026.
Key Players
The prominent players in the global Solenoid Valve market are Curtiss-Wright Corporation, Asco Valve, Inc., Christian Bürkert GmbH & Co. Kg, GSR Ventiltechnik GmbH & Co. Kg, Danfoss A/S, Parker Hannifin Corporation, IMI PLC, Rotex Controls B.V., The Lee Company, SMC Corporation among others profiled in MRFR Analysis and are at the forefront of competition in the Global Solenoid Valve Market. Many different organizations are innovating and building out the new products with latest technology. The competition is high as the enterprises operating in oil & gas industry is largely concentrated in Middle East, parts of Western Europe and major parts of the U.S., requiring an efficient system that can monitor the fluids flow through pipeline.
Solenoid Valve Global Market - Segmentation
- Segmentation by Position: Overhead beam, Horizontal beam.
- Segmentation by Type: Bidirectional, Unidirectional.
- Segmentation by Technology: Wired, Wireless.
- Segmentation by Application: Transportation, retail, banking & finance, hospitality, sports and entertainment.
Solenoid Valve Global Market - Regional Analysis
North America is dominating the solenoid market. The North American market comprise of a large number of automotive, chemicals, oil & gas and pharmaceutical industries, having an increased usage of solenoid valves. These industries are in particular, upgrading their existing manufacturing facilities with automation technology, helping the enterprises in order to provide greater performance, less workforce and higher efficiencies. Solenoid valves are designed in a way that that the flow of fluids through the pipelines can be controlled and monitored by a computer, that transmits the electrical signals to solenoid.
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Source- Market Research Future