Solenoid Valves Market Growth by Industry, Applications and Forecast 2024-2031

Market Overview :

A solenoid valve is an electro-mechanical valve commonly employed to control the flow of liquid or gas. The market has various types of solenoid valves, but the main variants are pilot-operated or direct-acting. The most widely used pilot-operated valves utilize system line pressure to open and close the central orifice in the valve body. The primary materials used in solenoid valve bodies are stainless steel, aluminum, brass and plastic.

Solenoid valve works by controlling the flow of gases or liquids in a positive, fully-open or fully-closed mode. The valves are commonly used to replace manual valves or for remote control. Solenoid valve function implicates opening or closing an orifice in a valve body, preventing flow through the valve. The solenoid valves are used in various end-user industries, including oil & gas, chemical & petrochemical, water & wastewater, food & beverages, power generation, healthcare and automotive industry.

Market Trends :

The global solenoid valves market demand is boosted by the rising need for an effective valve for oil & gas process heating systems.Need for an effective valve for oil & gas process heating systems

Low-temperature stainless steel shutdown valves are used for on/off management of fuel gas within gas fuel trains in process heating system burners. Oil & gas companies and original equipment manufacturers use the systems to operate or construct gas heating equipment or burner management systems in upstream pipelines and tanks. North American oil & gas production has increased dramatically in recent years. Between 2017 and 2018, natural gas and crude oil production in the U.S increased by 10% and 13%, respectively. The wells drilled and completed during the same period increased by roughly 50%. Due to this spike, oil & gas firms are replacing old process heating systems in their upstream production facilities. Oil & gas process heating is a complex application for cutoff valve makers. The environment at the point of use is frequently problematic. Furthermore, valves must operate reliably despite various restrictions, including power consumption and service availability.

Solenoid valve technology has changed the landscape of shutdown valves in recent years. Modern designs give process heating systems a robust and long-lasting performance while assisting with safety and regulatory compliance while enhancing efficiency and productivity. North American oil & gas companies are replacing pneumatically operated shutoff valves with solenoid-based shutoff valves to meet rising environmental, cost and safety demands. Solenoid shutdown valves provide several advantages, such as complying with safety regulations, providing environmental responsibility by not venting gas into the atmosphere and providing more efficient operation with reduced energy consumption and increased equipment uptime.

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Market Segmentation :

The global solenoid valves market is segmented based on operating procedures, body material, valve design, end-user and region.

The need to control speed limits in vehicles will boost the demand for solenoid valves

Based on end-user, the global solenoid valves market is segmented into oil & gas, chemical & petrochemical, water & wastewater, food & beverages, power generation, healthcare, automotive and others.

The solenoids are usually utilized in the automotive industry to regulate automotive fluids such as oil, anti-skid brake fluid or even fuel. A variable solenoid valve is frequently used in several of these functions. In countries where speed limits apply, the fuel solenoid valve is popular. The automobile solenoid valves are used to shut off fuel flow and stop a vehicle, the type used to automatically drain water from a water fuel separator and the coolant control solenoid valve in a car's HVAC system.

Geographical Share :

Expanding end-user industries in developing countries will boost the demand in Asia-Pacific

The solenoid valve market is widely utilized in various industries, including automotive, food and beverage, chemical & petrochemical, power generation, oil & gas and others. The rising oil & gas production levels are a significant factor. In India, FY20, crude oil production stood at 32.2 MMT. Crude oil production stood at 4.9 MMT in FY22 and was 30.5 MMT for FY21. In FY20, crude oil imports rose to 4.54 mbpd from 4.53 mbpd in FY19. Solenoid valves for the petrochemical and oil & gas industries are developed to maintain combustion systems pilot and mainline fuel and control line applications.

Moreover, China remains the most significant vehicle market, with the government projecting that car production will reach 30 million units in 2020 and is expected to reach 35 million by 2025. According to the China Association of Automobile Manufacturers, over 27 million vehicles were sold in 2018. With the rapid industrialization in China, more and more factories are manufacturing solenoid valves. Chinese solenoid valves have evolved very popularly in other countries because of their excellent quality and low prices.

The companies are launching products to cater to the region's demand. For instance, in 2019, Danfoss Industries Pvt. Ltd. launched its ICSH 2 Step Solenoid Valve. The product has changed the standard of applications for the cooling industry and industrial refrigeration. The Solenoid Valve for safe gas injection is a prevalent and efficient method used within industrial refrigeration. It is specifically designed to keep in mind the safety risks of injecting hot gas into evaporators.

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Competitive Landscape

The global solenoid valves market is highly competitive and consolidated amongst top players. Some of the major players in the market include Emerson Electric Co., IMI Norgren Herion Private Limited, Danfoss A/S, Curtiss-Wright, PARKER HANNIFIN CORP, Christian Bürkert GmbH & Co. KG, Solenoid Solutions Inc., TLX Technologies, CKD Corporation, Takasago Electric, Inc among others. The companies are incorporating numerous market strategies to achieve growth in the global solenoid valves market; these include acquisitions, product launches and collaborations.

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