Solenoid Valve Market Research Report Information By Type (Direct-acting Valves and Pilot-operating Valves), By Function (2-Way, 3-Way, 4-Way, and 5-Way), By Industry (Oil & Gas, Chemical & Petrochemical, Power Generation, Pharmaceutical, Automotive, Medical, and Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.
ID: MRFR/SEM/0362-CR | 131 Pages | Author: Aarti Dhapte | October 2022
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Global Solenoid Valve Market Overview:
Solenoid Valve Market Size was valued at USD 5.5 Billion in 2022. The Solenoid Valve market industry is projected to grow from USD 5.7 Billion in 2023 to USD 4.60 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.60% during the forecast period (2023 - 2032). Increased adoption of solenoid valves in various industries and inclination towards advanced technologies are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Solenoid Valve Market Trends
- Growing adoption in different sectors of industry is driving market growth.
Market CAGR for solenoid valves is being driven by the rising adoption of solenoids in different sectors of industry. The solenoid is the most frequently used valve in the food processing market. The increasing requirement in the wastewater treatment industries is driving the expansion of the solenoid valve market. The research and development activities and technological advancement will boost the market growth. The poor consumption of power and lower prices are some of the features of the solenoid valves, making them a sustainable option.
The solenoid valves are widely used in the food industry as they are built to tolerate wet, corrosive environments and extreme room temperatures and are made of stainless steel materials as these are contaminant resistant. Therefore, solenoid valves are the perfect option for food processing. The meat and abattoir industries, salting systems, fish canneries, ready meal manufacturing, and fruit and vegetable canneries uses steel solenoid valves. Salmon packing lines, pasteurized systems, and fish fillet preparation systems make use of high-pressure solenoid valves. The solenoid valve has a mechanism that permits it to turn on and off, dose, release, mix fluids, or distribute. In order to handle the flow and direction of fluids, solenoid valves are employed and are also required in the activity that needs batch control, like canneries and bottling facilities. The pneumatic and hydraulic systems, controlling cylinders, fluid power motors, and flush systems are powered by solenoid valves that control and power bigger industrial valves.
In wastewater treatment, the solenoid valves help in removing organic contaminants from the polluted water and for many other additional purposes. The wastewater treatment industry makes use of valves made out of plastics, brass, and stainless steel, which can be utilized to fill the tank, pilot larger actuated valves with air or water, for service valves in water softeners, and many other different purposes. Thus the material of solenoid valves used depends on the need of application and the working environment. Thus, driving the Solenoid Valve market revenue.
Solenoid Valve Market Segment Insights:
Solenoid Valve Type Insights
The Solenoid Valve market segmentation, based on type, includes direct-acting valves and pilot-operating valves. The direct-acting valve segment dominates the market, accounting for the largest market share as they have a simple working principle. These valves are applicable for use in a large range of pressure conditions in the solenoid valve market, from 0 bar up to the maximum allowable pressure as a direct-acting valve, unlike other solenoid valves, do not need a minimum operating pressure or pressure differential. It is widely used in hazardous locations, thus contributing to the market growth.
Figure 1: Solenoid Valve Market, by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Solenoid Valve Function Insights
The Solenoid Valve market segmentation, based on function, includes 2-way, 3-way, 4-way, and 5-way. The 2-way segment dominates the market, accounting for the largest share because of their properties, like strong corrosion resistance and aesthetic appearance. The inlet and outlet are the two parts of the 2-way solenoid valves; it is utilized to open or close the office.
Solenoid Valve Application Insights
The Solenoid Valve market segmentation, based on application, includes oil & gas, chemical & petrochemical, power generation, pharmaceutical, automotive, medical, and others. The chemical & photochemical category dominates the market as the solenoid valves play an important role in controlling gases, liquids, steam, or chemical compounds by controlling the flow level and pressure and distributing the energy of pressure differentials to maintain the integrity of the process in the chemical and petrochemical industry.
Solenoid Valve Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Solenoid Valve market dominates the market because of the increasing adoption of advanced fluid automation technologies and the rising applications in industries like oil & gas, chemical, food & beverages, and water treatment. The manufacturing facilities of end-user industries are upgrading to update various production processes to reduce the workforce and increase efficiency.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SOLENOID VALVE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Solenoid Valve market is expected to grow at the fastest CAGR from 2023 to 2032. This is owing to the rising demand for food & beverage and medical ushered by the strict rules and regulations. Further, the UK Solenoid Valve market held the largest market share, and the German Solenoid Valve market was the rapid-growing market in the European region.
The Asia-Pacific Solenoid Valve Market accounts for the second-largest market share because of the notable increasing demand for solenoid valves and the opportunities offered by the different end-use industries. Moreover, China’s Solenoid Valve market held the largest market share, and the Indian Solenoid Valve market was the rapid-growing market in the Asia-Pacific region.
Solenoid Valve Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Solenoid Valve market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Solenoid Valve industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Solenoid Valve industry to benefit clients and increase the market sector. In recent years, the Solenoid Valve industry has offered some of the most significant advantages to different end-use industries. Major players in the Solenoid Valve market, including CKD Corporation, Emerson Electric Corporation, Kendrion, GF Piping, IMI Precision Engineering, Danfoss Industries Ltd., Curtiss Wright Corporation, Parker Hannifin Corporation, ASCO Valves Inc., Rotex SAutomation, SMC Corporation, The Lee Company, and others, are attempting to increase market demand by investing in research and development operations.
Emerson Electric Co., headquartered in Ferguson, Missouri, is an American multinational corporation. The company avails engineering services for industrial, consumer, and commercial markets and manufactures the products. The technologies and services to enhance human comfort, safeguard food, protect the environment, provide sustainable food waste disposal, and support efficient construction are developed by the commercial and residential solutions of the company. In February 2022, an integrated facility was inaugurated by Emerson at Mahindra World City in Chennai. The manufacturing was integrated under one roof to strengthen the production synergies for some of its important products. The fluid control and pneumatic products like solenoid valves, air preparation units, cylinders, pneumatic valves and manifolds, position monitoring, and high-pressure regulators will be manufactured by the facility for the field-proven brand AVENTICS, ASCO, TopWorx, and TESCOM fields of Emerson.
Founded in May 2005, Kendrion Suzhou is specialized in electromagnetic components: solenoids, brakes, and clutches for automotive and industrial sectors. The company manufactures and provides highly innovative and technologically sophisticated products: controllers and actuators. In October 2022, a New bistable solenoid valve 63.0 at COMPAMED 2022 was presented by Kendrion. This valve controls the flow rate with great precision and speed. It is kept de-energized by the integrated permanent magnet in the open or closed state without the coil being permanently energized. The valve is available in the 2/2 or 3/2-way version and can be adapted to reach the specific requirement. A lead wire or connector version for PCB interfacing, and common sealing materials like NBR, EPDM, or FPM is also available.
Key Companies in the Solenoid Valve market include
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CKD Corporation
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Emerson Electric Corporation
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Kendrion
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GF Piping
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IMI Precision Engineering
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Danfoss Industries Ltd.
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Curtiss Wright Corporation
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Parker Hannifin Corporation
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ASCO Valves Inc.
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Rotex automation
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SMC Corporation
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The Lee Company
Solenoid Valve Industry Developments
June 2022: A direct-acting 2,3-port solenoid valve was launched by the CKD Corporation; these valves are multi-fit valves for multi-fluid control. Ease of use and high reliability required by the market is the concept for these series. This new series will help in carbon neutralizing by minimizing the waste with longer service life and CO2 emission via power savings.
April 2022: ASCO Series 090 line of miniature solenoid valves was launched by Emerson. This added a three-way Series 090 valve configuration to provide more space-efficient and lighter solutions for gas control in oxygen therapy, gas analyzer devices, and compression therapy.
February 2021: OFUI pressure regulating valve was introduced by GF Piping system for easy water management. It is a compact polymer valve, 9 times light in weight, and needs 40% less time to install than the standard metal PVR.
Solenoid Valve Market Segmentation:
Solenoid Valve Type Outlook
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Direct-acting Valves
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Pilot-operating Valves
Solenoid Valve Application Outlook
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2-Way
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3-Way
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4-Way
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5-Way
Solenoid Valve Industry Outlook
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Oil & Gas
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Chemical & Petrochemical
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Power Generation
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Pharmaceutical
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Automotive
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Medical
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Others
Solenoid Valve Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
Report Scope:
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 5.5 Billion |
| Market Size 2023 | USD 5.7 Billion |
| Market Size 2032 | USD 8.2 Billion |
| Compound Annual Growth Rate (CAGR) | 4.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | CKD Corporation, Emerson Electric Corporation, Kendrion, GF Piping, IMI Precision Engineering, Danfoss Industries Ltd., Curtiss Wright Corporation, Parker Hannifin Corporation, ASCO Valves Inc., Rotex SAutomation, SMC Corporation, The Lee Company |
| Key Market Opportunities | Increased demand in wastewater treatment industries. |
| Key Market Dynamics | Increased adoption of solenoid Valves in various industries. |
Frequently Asked Questions (FAQ) :
The Solenoid Valve market size was valued at USD 5.5 Billion in 2022.
The market is foreseen to grow at a CAGR of 4.60% during the forecast period, 2023-2032.
North America had largest share of the market
The key players in the market are CKD Corporation, Emerson Electric Corporation, Kendrion, GF Piping, IMI Precision Engineering, Danfoss Industries Ltd., Curtiss Wright Corporation, Parker Hannifin Corporation, ASCO Valves Inc., Rotex SAutomation, SMC Corporation, The Lee Company.
The direct-acting valve category dominated the market in 2022.
The 2-way application had the largest share in the market.
Key Questions Answered
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
- ✅Recommendations
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