Solenoid Valve Market Research Report—Global Forecast till 2030

Solenoid Valve Market Research Report: Information by type (2-way, 3-way, 4-way, 5-way, and Others), body material (Brass Body, Stainless Steel, Aluminum Body, Plastic Body, and Others), operating type (Direct, Indirect, Semi-direct, and Others), end user (Chemical & Petrochemical, Oil & Gas, Food & Beverages, Water & Wastewater, Power Generation, Automotive, Pharmaceutical, Medical, and Other), and Region (North America, Europe, Asia-Pacific, and Rest of World)—Forecast Till 2030

ID: MRFR/SEM/0362-CR | October 2022 | Region: Global | 131 Pages         

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Solenoid Valves Market

The Solenoid Valves Market is expected to grow at USD 6.05 Billion by 2030, at 4.6 % of CAGR between 2020 and 2030.

Segmentation
Type 2 Way 3 Way 4 Way 5 Way
Body Material Brass Body Stainless Steel Aluminum Body Plastic Body
Operating Type Direct Semi-Direct Indirect
End-User Chemical & Petrochemical Oil & Gas Food & Beverages Waste & Wastewater Power Generation Automotive Pharmaceuticals Medical
Key Players
Companies Profiled   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.)    Cla-Val (U.S.)
Drivers
Market Driving Forces   Increasing application areas and advancement in fluid automation technologies   Increasing uses in the burgeoning chemical & petrochemical
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Solenoid Valve Market Overview


The global Solenoid Valve market was valued at USD 3,969.9 million in 2021 and is expected to reach USD 5,417.9 million by 2030, with a CAGR rate of 3.54% during 2022–2030.


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 exert an upwards force on the plunger opening the orifice. Increasing adoption of solenoid valves in the food & beverages industry, shift to renewable sources for power generation, and development of application-specific solenoid valves is driving the demand for the solenoid valve. In addition, compatibility and technical issues in solenoid valves hampered market growth. Moreover, increasing demand in wastewater treatment industries creates an opportunity for solenoid valve vendors.


This study on the global Solenoid Valve market provides detailed information on industry trends, market dynamics, market size, competitive landscape, and growth opportunities. This research report categorizes the global Solenoid Valve market by type, body material, operating type, end user, and region/country.


Based on type, the Solenoid Valve market has been divided into 2-way, 3-way, 4-way, 5-way, and Others. The 2-way segment dominated the market in 2021 and is estimated to remain the same during the review period, whereas the 3-way segment is expected to register the highest CAGR during the forecast period from 2022 to 2030.


COVID-19 Analysis


With countries across the globe under lockdown (due to the spread of COVID-19), people are working from home. Moreover, with the instability in financial markets, the pandemic has brought lives to a standstill. Though the efforts to curb the impact of the global pandemic are at full pace, it is still unclear when the overall situation will come to normalcy. Solenoid valves are essential equipment in many industries, including chemical, oil & gas, power, water & wastewater, and food & beverage. These valves serve as control units, shutting off or allowing fluid flow when electrically energized or de-powered. Within the global solenoid valve industry, almost 40% of the supply chain is dependent on supply from China and other countries in Asia-Pacific. Hence, the pandemic has resulted in a halt in the production activities of solenoid valve components, resulting in a disrupted supply chain.


COVID-19 has substantially restricted the growth of the solenoid valve market since last year, and this trend is expected to continue through 2021. Significant demand for solenoid valves has been observed from massive industrial countries that are severely impacted by the coronavirus.  The COVID-19 outbreak has had detrimental effects on the global economy as many industries have been affected by the current circumstances, and operations of various sectors have come to a standstill. The lockdown restrictions have drastically reduced the demand for solenoid valves globally as the transportation sector has come to a standstill. Moreover, the disruption in the demand and supply of solenoid valves has resulted in huge financial losses in the industry¸ leading to job losses and pay cuts.


Market Dynamics


Solenoid valves are used to control fluid flow automatically. They are increasingly being employed in a wide range of plants and equipment. In most industrial applications, solenoid valves are classified into five types: two-way solenoid valves, three-way solenoid valves, four-way solenoid valves, five-way valves, and others. Solenoid valves are typically used for on-off control. Small solenoid valves in stainless steel and Viton are offered for modulating control applications. Solenoids are often employed in locking mechanisms, and the range of locking applications is extensive. Door locking in hotels, offices, and secure areas, vending machines, remote access systems, turnstiles, and car park and access obstacles are all obvious applications.


Drivers



  • Increasing Adoption of Solenoid Valves In Food & Beverages Industry


A solenoid valve is one of the most frequently applied valves in the market for food processing. Many solenoid valves are built to tolerate wet, corrosive environments as well as severe room temperatures. Because of the contaminant resistance of stainless steel, solenoid valves are often made of this material. For such reasons, solenoid valves are an excellent choice for food processing. Stainless steel solenoid valves are commonly found in the meat and abattoir industries, fish canneries, salting systems, ready meal manufacturing, and fruit and vegetable canneries. High-pressure solenoid valves made of stainless steel are also employed in salmon packaging lines, fish fillet preparation systems, and pasteurized systems.


A solenoid valve has a basic mechanic that allows it to turn on, turn off, release, dose, distribute, or mix fluids. They are most employed in the food industry to control the flow and direction of fluids, but they are also required for any activity that requires batch control, such as bottling facilities and canneries. The solenoid also powers pneumatic and hydraulic systems, flush systems, control cylinders, fluid power motors, and controls and powers bigger industrial valves. Solenoids can be found in practically any process operation that involves measurement, such as grouping and flow control, and are therefore critical, for example, in the processing of condiments, sauces, and ketchup into jars.


Opportunity



  • Increasing Demand In Wastewater Treatment Industries


The increased adoption of solenoid valves in various process sectors, as well as the growing preference for more process automation, are the primary factors driving the solenoid valve market. These valves, for example, are widely employed in water treatment plants. They aid in the removal of organic contaminants from polluted water and serve a variety of additional purposes. As a result, demand for solenoid valves is likely to rise further in the coming years. The water treatment industry employs a wide range of solenoid valves, including valves made of plastic, brass, and stainless steel. They can be used for tank filling, as service valves on water softeners, piloting bigger actuated valves with air or water, and as a variety of equipment intake valves. The material used is determined by the application's needs and the working environment. While all three valve body materials are suitable for mains water use, application criteria such as ambient temperature, degree of exposure to shock or other physical effects need to be considered.


Certain industrial uses require water purity to meet or exceed potable drinking water quality standards. These are frequently continuous systems that treat enormous volumes of water at pressures ranging from 100 to 1,000 PSIG. Several membranes and passes can be employed to boost quality and decrease reject water volume depending on the needed water quality after treatment. The examples below are typical applications.


Solenoid Valve Market Segmentation


The Solenoid Valve Market has been segmented based on type, body material, operating type, end user, and region.


Based on type, the global Solenoid Valve market has been segmented into 2-way, 3-way, 4-way, 5-way, and Others.


Based on body material, the Solenoid Valve market has been segmented into Brass Body, Stainless Steel, Aluminum Body, Plastic Body, and Others.


Based on operating type, the Solenoid Valve market has been segmented into Direct, Indirect, Semi-direct, and Others.


Based on end user, the Solenoid Valve market has been segmented into Chemical & Petrochemical, Oil & Gas, Food & Beverages, Water & Wastewater, Power Generation, Automotive, Pharmaceutical, Medical, and Others.


Regional Analysis


Globally, the Solenoid Valve market has been categorized into four different regions—North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific accounted for the largest market share, with a market value of USD 1,626.5 Million in 2020; it is expected to register a CAGR of 4.27% during the forecast period. Europe was the second-largest market in 2020, valued at USD 1,030.0 Million; it is projected to register CAGR of 2.70%. Asia Pacific is dominating the solenoid valves and is expected to witness the highest CAGR in terms of revenue due to 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 several 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. The Asia-pacific market has been segmented into China, Japan, India, and the rest of Asia-Pacific.


Europe solenoid valve market is expected to witness the second-highest share in the global market. Rising demand for solenoid valves in the food & beverage and medical led by strict regulations and considerable medical 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. The Europe region has been segmented as the UK, Germany, France, and the rest of Europe.The UK holds a significant market share in the region due to growing adoption of solenoid valves. Germany accounts for the largest share in the European region due to the increasing investments made by the government. In France, increasing need for clean and hygienic water supply has led to demand for water treatment plants which in turn boosts growth of the solenoid valve market.


GLOBAL SOLENOID VALVE MARKET, BY REGION, 2020 (% SHARE)GLOBAL SOLENOID VALVE MARKET, BY REGION, 2020 (% SHARE)Source: Industry Expert, Secondary Research, and MRFR Analysis


North America Region to Bolster the Solenoid Valve Market


North America is expected to have significant market share for solenoid valves market during the forecast period. This is attributed to increasing application areas and advancements in fluid automation technologies driving the market. In addition, 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. Furthermore, 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 to provide greater performance, less workforce, and higher efficiencies. The North American market has been segmented into the US, Canada, and Mexico. The US holds a major share in the North American solenoid valve market. Canada is expected to be the fastest-growing country in terms of CAGR during the study period and is expected to account for the second-largest market share in the region due to the increasing demand for solenoid valves in different end-use verticals.


Competitive Landscape


The global market for Solenoid Valve has witnessed significant growth over the forecast period due to the growing digital content. There are several domestic, regional, and global players operating in the Solenoid Valve market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the global Solenoid Valve market who have contributed to the market growth. These include Curtiss-Wright Corporation, Emerson Electric Co., Parker Hannifin Corporation, IMI, GF Piping Systems, SMC Corporation, Danfoss, Omega Engineering Inc, Christian Burkert GmbH & Co. KG, GSR ventilechnik GmbH & Co. Kg, Rotex Controls, The Lee Company, Cole-Parmer India Pvt Ltd, Aira Euro Automation Pvt Ltd, Cla-Val, and Hansen Technology Corporation.


During the study, MRFR has analyzed some of the major players in the global Solenoid Valve market who have contributed to the global market growth.


Key Players



  • Parker Hannifin Corporation

  • Emerson Electric Co.

  • SMC Corporation

  • IMI

  • Curtiss-Wright Corporation


Recent Developments



  • In May 2022, Danfoss launched ICF 20-2 Solenoid valve for safer performance and compatibility with a wider range of applications. ICF 20-2 valve, the next-generation solenoid valve, replaces EVRA(T) 15/20. The newer solenoid valve includes easy installations, leak-proof performance, and seamless scalability

  • In April 2022, Omega Engineering Inc was acquired by Arcline Investment Management, a US-based investment management company, at a valuation of USD 525 million.

  • In April 2022, Emerson has launched its ASCO Series 090 line of miniature solenoid valves, adding a new three-way Series 090 valve configuration to enable lighter, more space-efficient solutions for gas control in oxygen therapy, compression therapy, and gas analyzer devices.

  • In February 2021, GF Piping system launched OFUI pressure regulating valve for easy water management. The compact polymer valve is 9 times lighter in weight and requires 40% less installation time than standard metal PRV.


Report Overview


This study estimates revenue growth at global, regional, and country levels and offers an overview of the latest developments in each of the sub-sectors from 2018 to 2030. For this analysis, MRFR segmented the global Solenoid Valve Market report based on type, body material, operating type, end user, and region.


By Type



  • 2-way

  • 3-way

  • 4-way

  • 5-way

  • Others


By Body Material



  • Brass Body

  • Stainless Steel

  • Aluminum Body

  • Plastic Body

  • Others


By Operating Type



  • Direct

  • Indirect

  • Semi-direct

  • Others


By End User



  • Chemical & Petrochemical

  • Oil & Gas

  • Food & Beverages

  • Water & Wastewater

  • Power Generation

  • Automotive

  • Pharmaceutical

  • Medical

  • Others



Report Scope:

Report Attribute/Metric Details
  Market Size   2021: USD 3,969.9 Million 2030: USD 5,417.9 Million
  CAGR   3.54%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   • By Type (2-way, 3-way, 4-way, 5-way, and Others) • By Body Material (Brass Body, Stainless Steel, Aluminum Body, Plastic Body, and Others) • By Operating Type (Direct, Indirect, Semi-direct, and Others) • By End User (Chemical & Petrochemical, Oil & Gas, Food & Beverages, Water & Wastewater, Power Generation, Automotive, Pharmaceutical, Medical, and Other)
  Geographies Covered   • North America (US, Canada, and Mexico) • Europe (France, Germany, UK and Rest of Europe) • Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific) • Rest of World (Middle East & Africa and South America)
  Key Vendors   • Curtiss-Wright Corporation • Emerson Electric Co. • Parker Hannifin Corporation • IMI, GF Piping Systems • SMC Corporation • Danfoss • Omega Engineering Inc • Christian Burkert GmbH & Co. KG • GSR ventilechnik GmbH & Co. Kg • Rotex Controls • The Lee Company • Cole-Parmer India Pvt Ltd • Aira Euro Automation Pvt Ltd • Cla-Val • Hansen Technology Corporation
  Key Market Opportunities   Increasing demand in wastewater treatment industries
  Key Market Drivers   • Increasing adoption of solenoid valves in food & beverages industry • Shift to renewable sources for power generation • Development of application-specific solenoid valves


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Frequently Asked Questions (FAQ) :

Solenoid Valve Market is expected to reach at a CAGR rate of 3.54% during 2022–2030

The key contenders in the market are Curtiss-Wright Corporation, Emerson Electric Co., Parker Hannifin Corporation, IMI, GF Piping Systems, SMC Corporation, Danfoss, Omega Engineering Inc, Christian Burkert GmbH & Co. KG, GSR ventilechnik GmbH & Co. Kg, Rotex Controls, The Lee Company, Cole-Parmer India Pvt Ltd, Aira Euro Automation Pvt Ltd, Cla-Val, and Hansen Technology Corporation.

The Asia-Pacific regional market is projected to be the major driver of the market.

The segments in the market are type, body material, operating type, and end user

The chemical & petrochemical segment is projected to dominate the market at 3.54% 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.