Solenoid Valve Market Revenue Growth Predicted by 2026
Solenoid valve is a device that uses a solenoid to control valve activation. It is an electromechanically operated valve that is used for controlling liquid or gas flow. Solenoid valves are most commonly used in fluidics as a control elements. Various tasks such as release, shut-off, mix or distribute fluids are performed by a solenoid valve. Solenoid offers various advantages such as high reliability, fast and safe switching, extended service life, compact design, and low control power.
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Increasing applications of solenoid valves into various industrial sectors, lower price of a valve, and lower power consumption are some of the major factors that are driving growth of solenoid valve market. Furthermore, development of new solenoid valves such as micro-miniature valves customized valves and pinch valves fuel growth of global solenoid valve market.
However, power failure, uneven pressure, wrong voltage may affect the functioning of solenoid valve because of which solenoid valves may not open, erratic valve sounds while opening and closing of valve, and coil problems are major factors that are expected to restrain growth of global solenoid valve market.
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Key Developments in Solenoid Valve Market
Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the solenoid valve market. In 2017, Airtac International Group launched consolation activities hand in hand with NanHai Women Federation. On April 3, 2018, Curtiss-Wright Corporation announced that it has completed the acquisition of the Dresser-Rand Government Business (Dresser-Rand), a business unit of Siemens Government Technologies, which is a wholly-owned U.S. subsidiary of Siemens AG in Germany, for US$ 212.5 million.
Furthermore, on April 17, 2018, Curtiss-Wright Corporation announced that it has been awarded a contract valued in excess of US$ 85 million to provide main propulsion steam turbines and auxiliary equipment for the U.S. Navy’s Ford-class aircraft carrier Enterprise.
On April 2, 2018, Emerson launched a new production line at its ASCOVAL plant in Sao Paulo to assemble TopWorx™ switchbox products.
Some of the key players operating in the solenoid valve market include Airtac International Group, Yuyao Yongchuang, Curtiss-Wright, Asco Valve, Christian Bürkert, and GSR Ventiltechnik among others.
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Global Solenoid valve Market
olenoid valve is a device which uses a solenoid to control valve activation. In solenoid valve, electric current is passed through a solenoid. Solenoid valves are considered as electromechanically operated valve used for controlling liquid or gas flow. Solenoid valves are most commonly used in fluidics as a control elements. They perform the various task such as release, shut-off, mix or distribute fluids. Solenoid offers various advantages such as high