Press release
Solenoid Valves Market Set to Surpass USD 6.8 Billion by 2030
Solenoid Valves Market size was valued at USD 4.67 Billion in 2023 and the Solenoid Valves Market revenue is expected to reach USD 6.8 Billion by 2030, at a CAGR of 5.5 % over the forecast period.
◆ Market Dynamics
Solenoid valves are integral to modern automation systems, offering precise control over fluid and gas flow. Their applications span various sectors, including oil and gas, chemical and petrochemical, water and wastewater, food and beverages, power generation, pharmaceuticals, automotive, medical, and aerospace industries . The demand for energy-efficient and low-maintenance solutions further propels market growth.
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◆ Regional Demand
The Asia-Pacific region dominates the solenoid valves market, accounting for a significant share of global revenue. Rapid industrialization, infrastructural developments, and the presence of major market players in countries like China and India contribute to this dominance .
◆ Country-Specific Insights
Growth Opportunities in Vietnam
Vietnam's burgeoning manufacturing sector, particularly in electronics and automotive, is driving the demand for solenoid valves. The government's focus on industrialization and foreign direct investment creates a favorable environment for market growth.
Trends in Thailand
Thailand's automotive industry, a key economic driver, increasingly adopts automation technologies, including solenoid valves, to enhance production efficiency and meet global standards.
Consolidation in Japan
Japan's advanced manufacturing landscape sees companies like KANEKO SANGYO Co. Ltd leading in solenoid valve production. Mergers and acquisitions in the sector aim to consolidate technological expertise and expand market reach.
Updation in South Korea
South Korea's solenoid valve industry is projected to expand at a CAGR of 4.9%, reaching USD 280.6 million by 2033. Innovations, such as Kendrion's bistable solenoid valve 63.0, highlight the country's commitment to technological advancement .
Opportunities in Singapore
Singapore's strategic initiatives in smart manufacturing and automation bolster the demand for advanced solenoid valves. The country's emphasis on precision engineering and high-tech industries presents significant market opportunities.
Growth in the United States
The U.S. market benefits from a robust industrial base and advancements in automation and process control. The automotive sector, in particular, utilizes solenoid valves for fuel systems, emission control, and HVAC systems .
Trends in China
China's rapid industrialization and focus on infrastructure development drive the solenoid valves market. The country's emphasis on energy efficiency and environmental sustainability further accelerates the adoption of advanced valve technologies.
Consolidation in Europe
Europe holds a substantial market share, with countries like Germany and the UK leading in technological innovation. The region's stringent energy efficiency regulations and focus on automation in sectors like pharmaceuticals and food processing contribute to market growth .
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◆ Global Solenoid Valves Market Classifications
By Material
Stainless Steel
Brass
Aluminium
Plastic
By Valve Design Type
2-way
3-way
4-way
5-way
By Industry
Oil & Gas
Chemical & Petrochemical
Water & Wastewater
Food & Beverages
Power Generation
Pharmaceuticals
Automotive
Medical
Aerospace
Others
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◆ The following companies are included in the market for Global Solenoid Valves :
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)
For deeper market insights, peruse the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-solenoid-valves-market/29664/
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