ID: MRFR/SEM/0362-CR | February 2020 | Region: Global | 76 pages
Global Solenoid Valves Market valuation is expected to reach USD 5.28 Billion by 2027, growing at a 4.35% CAGR during the forecast period (2016 and 2027).
A solenoid valve is an electrically controlled valve, featuring an electric coil (solenoid) with a movable ferromagnetic core (plunger) in its center. The electric current through the coil creates a magnetic field to exerts an upwards force on the plunger opening the orifice.
Solenoid valves, with their high/low pressures and small/large flow rates, are used in a wide range of applications, including Refrigeration systems, Irrigation systems, Dishwashers & washing machines, Air conditioning systems, automatic locking systems, Medical & dental equipment, Water tanks, and Carwashes.
Solenoid valves are also commonly used in oxygen therapy devices as pressures in medical device applications are typically lower than industrial applications, and solenoid valves can offer value and reliability while providing excellent function. Solenoid valves offer medical device designers several technical advantages, including portability, power management, scalability, electronics integration, smart technology, and custom design support.
The COVID-19 outbreak has resulted in the closing down of several manufacturing facilities across the globe. The pandemic caused huge revenue losses in end-use industries like healthcare and automotive. The coronavirus lockdown put a brake on the production of several key raw materials in the global market, which, in turn, spiked the prices and lowered the demand for the product.
The strict lockdown mandates imposed by governments have restricted cross-border trade between countries, another factor proving to be detrimental for the solenoid valve market share. However, the solenoid valve industry is rapidly returning to normal, mainly due to the increasing use of solenoid valves in the burgeoning medical device sector and surgical tools market.
Solenoid valve manufacturers are drawing up plans for the international market as a new supply link in the global medical devices industry, as companies look to re-engineer supply chains in the aftermath of COVID-19. Also, it is expected that the product demand in end-user sectors could pick up following the uplift of the lockdown in numerous countries.
Continued evolution of miniature solenoid valves makes them valuable and effective components for controlling the flow, direction, and pressure of gases and fluids. With automated functions, excellent reliability, and long life, solenoid valves are used throughout the medical device industry.
This, as a result, drives the growth of the market for gas and liquid valves. The solenoid valve market size is also boosted by the expanding construction industry in developed countries paired with the increasing uses in the burgeoning chemical & petrochemical, and food & beverages sectors.
Emerging markets across the globe are projected to present untapped opportunities for solenoid valve uses. Over the last decade, Asia Pacific has become a global manufacturing hub for automotive and medical supplies, with many key companies setting up high-volume production facilities in the region. Additionally, significant demand for solenoid valves in food & beverage and agriculture industries in emerging countries would offer a host of lucrative opportunities to global firms in the near future.
Solenoid valve technology is a little expensive, which often increases its overall market price. Therefore, the high costs of is considered a major factor restraining the growth of the market.
There are several small components used in solenoid valves. Fluctuations in the prices and the demand-supply gap in various key components across countries could pose major challenges to the market players.
The solenoid valve market is segmented on the basis of type, body material, operating type, end user, and region.
The type segment is further bifurcated into 2 way, 3 way, 4 way, 5 way, and others. Among these, the 2 way solenoid valve segment accounts for the largest market share, witnessing increasing adoption across the end-user segment. The 2 way type segment is projected to grow at approximately 3.7% CAGR during the forecast period.
The body material segment is sub-segmented into brass body, stainless steel, aluminum body, plastic body, and others. Brass body is the largest segment and expected to grow at approximately 3.30% CAGR during the forecast period.
The operating type segment is further bifurcated into direct, indirect, semi-direct, and others. Among these, the direct operating type accounts for the largest market value. The direct operating type segment is expected to grow at a 3.71% CAGR during the assessment period.
The end user segment is further classified as chemical & petrochemical, oil & gas, food & beverages, waste & wastewater, power generation, automotive, pharmaceuticals, medical, and others. Among these, the chemical & petrochemical segment accounts for the largest market share and is expected to grow approximately at a 4.13% CAGR during the review period.
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World. Among these, North America accounts for the largest market share, followed by Europe and the APAC region, respectively.
North America is expected to remain a highly attractive market for solenoid valves during the assessment period. Factors such as increasing application areas and advancement in fluid automation technologies drive the market globally. Besides, the presence of many end-user industries, such as automotive, chemicals, oil & gas, and pharmaceutical industries, fosters the solenoid valve market share of the region.
Increased usage of solenoid valves influences the market growth due to the rising upgrades in manufacturing facilities of end-user industries to automate several production processes in order to provide greater performance, less workforce, and higher efficiencies.
Europe captures the second-highest share in the global solenoid valve market. Rising demand for solenoid valves in the food & beverage and healthcare industry led by strict regulations and considerable healthcare spending boost the region’s solenoid valves market share. The extensive pool of medical device manufacturers in the region and increasing demand for various solenoid valve parts, such as solenoid valve controller, solenoid valve connector, and solenoid control valve, induce market expansion.
Asia Pacific generates a substantial demand for solenoid valves globally, which influences the total valuation of this market. Heightened demand for solenoid control valves and the growth opportunities presented by a number of end-use industries position APAC among the strongest contenders in the global market. Furthermore, significant expansion of the prominent end-use industries like healthcare, automotive, food and beverage, and construction in Japan, India, and China add to the solenoid valve market value.
In addition to these, the solenoid valves market size in the region is bolstered by the presence of a thriving automotive manufacturing base and the rising sales of commercial and passenger vehicles, alongside the surge in supportive policies like Foreign Direct Investments (FDI) as well as Make in India create striking growth avenues.
Highly competitive, the solenoid valve market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and expansion remain prevailing key trends for the solenoid valve manufacturers as these strategic moves support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and product portfolio.
GEMÜ Gebr. Müller Apparatebau is a German, leading global valve specialist. GEMÜ’s sterile valves are used in pharmaceutical and biotechnology applications. The GEMÜ Group is continuously growing and invests regularly. Its state-of-the-art Production and Logistics Centre combines the global flow of goods and guarantees fast supply to European customers.
The company makes use of the opportunities offered by digitization and further develops and markets Industry 4.0 solutions such as the RFID-based CONEXO system. GEMÜ is awarded the ACHEMA Innovation Award, which speaks about its strength as an innovator and implementer of novel training concepts.
List of Key Companies
Asco Valve, Inc. (U.S.), Curtiss-Wright Corporation (U.S.), Parker Hannifin Corporation (U.S.), G.F. Piping Systems (Switzerland), IMI PLC (England), SMC Corporation (Japan), OMEGA Engineering (U.S.), Danfoss A/S (Denmark), Christian Bürkert GmbH & Co. Kg (Germany), Rotex Controls B.V. (Netherlands), GSR Ventiltechnik GmbH & Co. K.G. (Germany), The Lee Company (U.S.), Aira Euro Automation Pvt. Ltd (India), Cole-Parmer Instrument Company LLC (U.S.), Hansen Technologies (U.S.), and Cla-Val (U.S.) are some of the affluent contenders holding sizeable solenoid valves market share.
December 17, 2020 – Emerson launched Advanced Redundant Control System (ARCS) for increased operational certainty in emergency shut down situations. The ARCS features either two or four electrically actuated solenoid valves, visual indicators, and a manually controlled bypass or isolation valve. ARCS is the only safety system in the industry with individual valve isolation for online maintenance without process interruption.
December 11, 2020 – GEMÜ Gebr. Müller Apparatebau, a Germany-based leading global provider of sterile valves for applications in the pharmaceutical and biotechnology industries, launched a new GEMÜ M75 process solenoid valve with pressure compensation. The new directly controlled process solenoid valve with an innovative bellows system uses the innovative double bellows principle to compensate for pressure forces.
July 16, 2020 – Pierburg GmbH, a member of the technology group Rheinmetall, announced receiving the strategically important contract for the supply of divert-air valves used in exhaust-gas turbochargers of vehicles with internal combustion engines or hybrid drivelines. The Rheinmetall Automotive subsidiary would then become a major supplier for the entire global engine range of a well-known South Korean manufacturer.
July 15, 2020 – Marotta Controls, a US-based rapidly growing aerospace and defense supplier, announced that it has received two patents for solenoid valves for valve design and novel assembly processes. Together, these innovations address metal-on-metal wear out challenges created by the extreme vibration environments generated in today’s spacecraft.
On December 15, 2020, Marotta Controls announced that it would be supplying critical system valves, including modular solenoid valves and fill & drain valves, to Honeybee Robotics Spacecraft Mechanisms Corporation. These two custom components would be used in Honeybee’s Pneumatic Sampler, deployed on the upcoming JAXA MMX Martian Moons eXploration mission under contract by NASA.
June 25, 2020 – Godrej & Boyce, the flagship company of the Godrej group (India), announced that one of its businesses, Godrej Aerospace, has made and delivered 1,000 Proportional Solenoid Valves, a critical component for making ventilators, for the Defense Research and Development Organization (DRDO).
The solenoid valve market analysis feature unique and relevant factors anticipated to significantly impact the market growth during the assessment period. The detailed research report would help industry players to understand the market better. The report defines the historical and current solenoid valve market trends boosting the growth of the market.
Additionally, the COVID-19 impact on the solenoid valves industry is also included in the report. Regional assessment in this report and unlocks several untapped opportunities in regional and international markets. Detailed company profiling enables users to evaluate company shares, emerging product lines, pricing strategies, innovation possibilities, the scope in new markets, and much more.
|Market Size||USD 5.28 Billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Component, Operating Type, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Asco Valve, Inc. (U.S.), Curtiss-Wright Corporation (U.S.), Parker Hannifin Corporation (U.S.), G.F. Piping Systems (Switzerland), IMI PLC (England), SMC Corporation (Japan), OMEGA Engineering (U.S.), Danfoss A/S (Denmark), Christian Bürkert GmbH & Co. Kg (Germany), Rotex Controls B.V. (Netherlands), GSR Ventiltechnik GmbH & Co. K.G. (Germany), The Lee Company (U.S.), Aira Euro Automation Pvt. Ltd (India), Cole-Parmer Instrument Company LLC (U.S.), Hansen Technologies (U.S.), and Cla-Val (U.S.)|
|Key Market Opportunities||Significant demand for solenoid valves in food & beverage and agriculture industries in emerging countries.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The operating type-based segments of the market are direct, semi-direct, and indirect.
The basis upon which the segmental analysis of the market is covered is – type, operating type, component, and end-user.
By 2026, the amount of revenue expected to be generated by the market is USD 4.6 Bn.
The market is anticipated to register 3.3% CAGR. It is on the verge of entering maturity phase.
The chemical & petrochemical segment is projected to dominate the market at 4.13% CAGR.
North America, among all the regions, is set to hold the key share of the market.
Some key players are: Curtiss-Wright Corporation (U.S.), Parker Hannifin Corporation (U.S.), Asco Valve, Inc. (U.S.), IMI PLC (England), SMC Corporation (Japan), GF Piping Systems (Switzerland), and Danfoss A/S (Denmark) among others.