Solenoid Valves Market 2022 Emerging Trends to Make Driving Growth on Key Players Status to 2030 | IMI Precision Engineering, Emerson Electric Co., Parker Hannifin Corporation

Astute Analytica released a new market report on the Solenoid Valves Market. The in-depth study of the industry includes inputs, information, and data from primary and secondary sources that have been evaluated and verified by specialists in the target market.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.

The Global Solenoid Valves Market size was US$ 4,222.7 million in 2021and forecast to grow to US$ 6,903.8 million by 2030, registering a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2022 to 2030.

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Regional Analysis:

North America is expected to grow at a moderate rate, closely followed by Europe due to the well-developed infrastructure of these regions. Furthermore, the presence of various safety standards such as quiet operation, low emission, and others will contribute to the growth of the market.

The presence of developing economies such as India, China, etc., will drive the industry forward. It is majorly attributable to the growing urbanization and industrialization in the region. Further, the availability of cheap labor and raw materials has increased factory setup in the region. According to Invest India, the Parliament passed a bill with the aim to develop National Bank for Financing Infrastructure and Development (NaBFID) in order to invest in infrastructure projects in the country. Moreover, the same source estimates that infrastructure activities held a 13% share of the total FDI inflows of US$ 81.72 billion in In FY21.

COVID-19 Impact

Following the coronavirus pandemic, the market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the industry.

Major Key Players in the Solenoid Valves Market are:

Danfoss Industries Limited
Curtiss-Wright Corporation
IMI Precision Engineering
Emerson Electric Co.
Parker Hannifin Corporation
Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Solenoid Valves Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

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Segmentation Overview

By Type

Direct-acting valves
Pilot-operated valves
By Function

2-way
3-way
4-way
5-way
By Material

Stainless Steel
Aluminum
Plastic
Others
By Operation

Normally open
Normally closed
Universal
By Media

Air
Gas
Water
By Industry

Oil & Gas
Chemical & Petrochemical
F&B
Power Generation
Pharmaceuticals
Automotive
Medical
Others
By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa
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About Astute Analytica:

Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.

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This release was published on openPR.