Saturday, January 29, 2022

Solenoid Valve Market 2022 Trend, CAGR Status, Growth, Analysis & Forecast 2031

market Overview

market research. bizo , in its latest research report, claimed that the global solenoid valve market is set to grow rapidly in the 2022 review period and register a significant market valuation of USD 4.6 billion by 2031 and a healthy 3.3% CAGR over the forecast period. Used to be.

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drivers and restrictions

One of the main driving forces on the global demand for solenoid valves is the ever-growing oil and gas industry. Previously postponed projects are gradually coming into service, fueled by increasing demand from the upstream oil and gas sector for solenoid valves. Desalination activities are increasingly gaining acceptance among municipalities and industrial areas in terms of water treatment, creating a great demand for automation in the sector. The wide product range, wide range of applications, and high market penetration of solenoid valves keep the demand for these products stable, both in terms of replacement parts and new installations. Several major end-user industries that have held steady demand for solenoid valves include oil and gas, automotive, food and beverage, and utilities.

segmental analysis

The solenoid valve market is segmented by type, operating type, body material, and end user. On the basis of type, the market is segmented into 3 types, 2 types, 4 types, 5 types and others. On the basis of type, the 2 way sub segment accounts for significant market share in the solenoid valve market and is growing with around 3.7% CAGR during the review period. On the basis of body material, the global market has been segmented into stainless steel, brass body, aluminum body, plastic body, and others. In terms of body material, the brass body sub-segment has the largest market share, with a CAGR of around 3.30% as of the end of the valuation period. On the basis of operating type, the market is segmented into indirect, direct, semi-direct and others. By operational type, the commercial segment has the largest share of the market and is growing at a CAGR of around 3.71% as of the end of the review period. Whereas, on the basis of end user, the global market has been segmented into oil & gas, chemical & petrochemical, food & beverage, power generation, waste & wastewater, pharmaceuticals, automotive, medical and others. By end user, the chemical and petrochemical segment holds a significant market share and is growing with a CAGR of around 4.13% as of the end of the review period.

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regional analysis

The global market has been geographically analyzed in four key regions including Asia Pacific, North America, Europe, Latin America, Middle East and Africa.

With the optimistic development, the demand for solenoid valves is increasing in all fields. Year-on-year growth in application areas and technology developments and emerging liquid automation technologies are driving the global market. The market was segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the World. North America dominates the global market share of solenoid valves, followed by Europe as the second largest market due to increasing demand for m-commerce while Asia Pacific is the third largest.

competitive analysis

Major market players operating in the global market as identified by MRFR are Parker Hannifin Corporation (US), GSR Ventiltechnik GmbH & Co. KG (Germany), Curtis-Wright Corporation (US), Esco Valve, Inc. (US), are IMI. PLC (England), GF Piping Systems (Switzerland), Danfoss A/S (Denmark), SMC Corporation (Japan), Omega Engineering (US), Christian Burkert GmbH & Co. KG (Germany), Rotex Controls BV (Netherlands), KOL -Parmer Instrument Company LLC (US), The Lee Company (US), Aira Euro Automation Pvt. Ltd. (India), Cla-Val (US) and Hansen Technologies (US).

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