Press release
Solenoid Valves Market to Reach USD 6.8 Bn by 2030, Growing at 5.5% CAGR!
Solenoid Valves Market
The global solenoid valves market is experiencing consistent expansion, driven by increasing demand across various industries such as wastewater treatment, automotive, and food processing. In 2023, the market was valued at approximately USD 4.67 billion and is projected to reach USD 6.8 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period.
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Competitive Landscape
The solenoid valves industry is characterized by a mix of prominent global players. Leading companies such as Rotork plc, Emerson Electric Co., Danfoss A/S, and Parker Hannifin Corporation dominate the market, continually innovating to meet the evolving demands of consumers. These companies invest heavily in research and development, marketing, and expanding their distribution networks to maintain a competitive edge.
Regional Demand Highlights
The Asia Pacific region holds a dominant position in the solenoid valves market, accounting for a significant share of global revenue. This dominance is attributed to rapid industrialization, infrastructural developments, and the presence of major market players in countries like China and India.
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Segmentation Analysis
By Material
Stainless Steel
Brass
Aluminium
Plastic
By Substance With the biggest market share as of 2023, stainless steel leads the worldwide solenoid valves market in terms of material and is expected to maintain its dominance for the foreseeable future. As a result, stainless steel solenoid valves are perfect for applications involving chemicals and harsh media. Generally speaking, brass is utilized for non-aggressive or corrosive applications as well as for managing air, water, and atmospheric gases. Although brass is more expensive than PVC, it can tolerate higher temperatures.
By Valve Design Type
2-way
3-way
4-way
5-way
By Type of Valve Design In terms of valve design type, the 2-way segment holds the greatest share of the solenoid valves market in 2023. An inlet and an exit are the two ports on a two-way solenoid valve. For correct operation, it is crucial to observe the flow direction, which is usually shown by an arrow. The orifice is opened or closed using a two-way valve. This segment's rise can be ascribed to its attributes, which include its great resistance to corrosion and attractive appearance. Over the course of the projected period, the 5-way category is anticipated to record the greatest CAGR.
By Industry
Oil & Gas
Chemical & Petrochemical
Water & Wastewater
Food & Beverages
Power Generation
Pharmaceuticals
Automotive
Medical
Aerospace
Others
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Key Market Participants:
1. CKD Corporation (Japan)
2. Emerson Electric Corporation (USA)
3. Kendrion (Germany)
4. GF Piping (Switzerland)
5. IMI Precision Engineering (Birmingham)
6. Danfoss Industries Ltd. (Denmark)
7. Curtiss Wright Corporation (USA)
8. Parker Hannifin Corporation (USA)
9. ASCO Valves Inc. (USA)
10. Rotex automation (India)
11. SMC Corporation (Japan)
12. The Lee Company (USA)
13. Asco Valve, Inc. (USA)
14. Christian Bürkert GmbH & Co. Kg (Germany)
15. Curtiss-Wright Corporation (USA)
16. Danfoss A/S (Denmark)
17. GSR Ventiltechnik GmbH & Co. Kg (Germany)
18. IMI PLC (UK)
19. Emerson Electric Co. (Missouri)
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