Solenoid Valve Market Size & Share Outlook up to 2021

A solenoid valve is a valve that works electromechanically. It is used for controlling the liquid or gas flow. Electric current controls the valve through a solenoid. The valve uses a solenoid to control the valve activation. Fluidics, most commonly, using solenoid valves as control elements. Various tasks like the release, shut-off, mix or distribute fluids are performed by them. High reliability, extended service life, compact design, safe and fast switching, and low control power are the features that are offered by the solenoid.

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As the solenoid valve market is progressing at a great pace, it is expected to witness a significant growth in the coming years. New technologies are developing in the solenoid valve market due to the constant development. The factors that are driving the evolution of the market of solenoid valve globally are the increased applications of solenoid valves into various industrialized sectors, poor consumption of power, and lower price. Moreover, the development of new solenoid valves such as the micro-miniature, pinch, and customized valves have encouraged the growth of the solenoid valve market globally. Few problems have impacted the solenoid valve market growth negatively; some of which are the power failure, an incorrect voltage that may affect the working of solenoid valve because of which solenoid valves may not open, and so on are the common issues associated with solenoid valves.

Globally, the solenoid valve market is segmented on the basis of its type, application, and region. On the basis of type, the global solenoid valve market is segmented into two-port, three-port, and four-port valves. On the basis of application, the global solenoid valve market is segmented into various industries such as chemical industry, the pharmaceutical industry, automobile industry, agriculture industry, food & beverages industry, and others. The chemical industry is expected to dominate global solenoid valve market in future.

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On the basis of region, the solenoid valve market can be segmented into North America, Latin America, Western Europe, Asia-Pacific, Eastern Europe, Japan and the Middle East, and Africa region. Further, the market is sub-segmented as per the major countries of each region in order to provide better regional analysis of the solenoid valve market. North America and Western Europe are expected to cover a major share of the global solenoid valve market in future.

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The key players in the global solenoid valve market are ASCO Valve, Inc., Danfoss A/S, CKD Corporation, Christian Bürkert GmbH & Co. KG, SMC Corporation of America, IMI plc Company, GSR Ventiltechnik GmbH & Co. KG, ODE s.r.l., Kaneko Sangyo Co., Ltd., CEME S.p.A., Takasago Electric Industry Co., Ltd., Parker Hannifin Corp., and Ningbo Mailing Pneumatic Co., Ltd. The market players are focusing more on the development of new technologies which can provide improved features and better performance. They are also focusing on providing industry-specific products in order to capture more market.

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