Solenoid Valve Market

Solenoid Valve Market Size, Growth, Forecast (2022-2027)

The Global Solenoid Valve Market size is estimated to increase at a CAGR of 3.5 percent, from $3.7 billion in 2021 to $4.6 billion in 2027.

Solenoid Valve Market Scenario:

Electromechanically controlled solenoid valves are used in automobiles. These valves regulate the flow of air or fluid in-car systems and engines. Solenoids are electronic devices that transform electrical energy into mechanical energy by causing a magnetic response when an electric current passes through the solenoid's wire. These are commonly found in hydraulic and power fluid systems.

Direct-acting valves are used to prevent excessive pressure from building up in a device; pilot-operated valves, also known as indirect valves or servo valves, are used for one flow direction; and two-way valves, which have one intake and one output, are used to allow and halt the fluid flow.

Solenoids can be used for a variety of purposes, including starting an automobile or turning on the sprinkler system. It primarily regulates the fluid flow, motors, and air-powered devices. Solenoids are the most common liquid and gas circuit components. Industrial automation, air hammers, washing machines, gas boilers, hydraulic pumps, compressed air technologies, car wash systems, heating systems, irrigation systems, dental equipment, sprinkler systems, and other applications are just a few of the uses for solenoid valves.

Recent Developments in the Solenoid Valve Industry:

• At the Hitex Exhibition Centre in Hyderabad, Danfoss Industries Pvt. Ltd. showcased the ICSH 2 Step Solenoid Valve. The innovation is expected to change the standard for industrial refrigeration and cooling applications. The ICSH 2 Step Solenoid Valve is a very effective and frequent technology used in industrial refrigeration for safe and gentle gas injection. It was created with the safety issues associated with pumping hot gas into evaporators in mind.
• Eaton introduced a small, streamlined solenoid valve in April 2019 to improve the fluid control precision of off-highway vehicles. When compared to comparable five-ported directional control valves in the market, the new ESVL9 screw-in cartridge valve (SiCV) incorporates an integrated load-sense check control and delivers a 21 percent manifold reduction in size.

Solenoid Valve Market Growth:

During the projected period, the global solenoid valve market is predicted to develop at a stable rate. Growing worries about water pollution and the necessity to remove organic contaminants from dirty water are driving the worldwide solenoid valve market. As a result, the need for wastewater treatment has skyrocketed. Solenoid valves are widely used in water treatment facilities to accomplish various tasks, fueling market expansion through 2027.

Solenoid Valve Marke Report Coverage:

Solenoid Valve Market Drivers:

Due to the lack of a diaphragm, direct-acting solenoid valves are finding widespread use in the market. This ensures that the valves stay closed even when there is no pressure exerted. Because of its basic principles, valves are used in a wide range of industries. These solenoid valves may be used for a wide range of tasks, including shutting down, filling, dosing, and venting. These valves' market expansion has been aided by their lightweight, compact design, which is also cost-effective. Because there is no diaphragm to ensure that the valves remain closed even when there is no applied pressure, direct-acting solenoid valves are gaining popularity in the market. Valves are used in a variety of industrial industries because they function on basic principles.

Furthermore, in demanding applications for neutral and clean liquids, gases, and vapors, direct-acting or direct operated valves are a cost-effective alternative. These solenoid valves can be used for shut-off, filling, dosing, and venting. These Solenoid Valve Market expansion has been aided by their lightweight, compact design, as well as their cost-effectiveness.

Solenoid Valve Market Restraints:

Solenoid valves are utilized in the upstream, midstream, and downstream activities of the oil and gas sectors. Exploration and extraction of crude oil are examples of upstream operations, whereas filtration and purification of oil and gas are examples of downstream activities. In the oil and gas business, solenoid valves are a critical resource. They're utilized in everything from digging an oil well to extracting and transporting crude oil, as well as heating systems, control systems, safety systems, fractional distillation, and catalytic cracking. As a result, they have seen widespread acceptance. However, the probable drop in demand for fossil fuels and oil has caused a slowdown in the industry, with a number of oil rigs being shut down. Despite the fact that this slowdown has abated, demand will continue to fall over the projection period, resulting in poor Solenoid Valve market growth.

Solenoid Valve Market Segmentation Analysis:

By Industry:

• Aerospace and Defense
• Automotive
• Oil and Gas
• Chemical
• Water and Waste Water
• Others

The automotive industry market is anticipated to reach $441.3 million in 2020, growing at a CAGR of 1.9 percent through 2026. In the automotive industry, solenoid valves are used in air intake systems, exhaust systems, HVAC body, locking and safety systems, engine control, lubrication, steering, suspension, and transmission systems. Security systems, automated gearbox drive options, and air conditioning controllers are just a few of the applications. Globally, the automobile sector is expanding at a steady clip, with demand coming mostly from emerging markets and manufacturing transferring there. The global automobile sector has been seeing reasonably good growth and profitability, with yearly sales in a few places approaching pre-recession levels.

By Usage:

• Pneumatic
• Hydraulic
• Fluidic

In a hydraulic system, a hydraulic solenoid valve is a solenoid-controlled valve that opens, closes, or changes the direction of liquid flow. The valve is made up of many chambers, also known as ports. By moving the spool inside the valve, the solenoid opens and closes the ports. Hydraulic valves are divided into three categories: directional control valves, pressure control valves, and flow control valves. Directional control valves guide the flow of the hydraulic system in a certain direction. They have the ability to stop or resume the flow of fluid. Directional control valves can change the flow channel of a fluid inside a hydraulic circuit. Pressure reduction valves lower or release pressure when fluid flows through the system. A hydraulic solenoid valve is a solenoid-controlled valve that opens, closes, or changes the direction of liquid flow in a hydraulic system. The valve is made up of many chambers (sometimes called ports). By moving the spool inside the valve, the solenoid opens and closes ports. Hydraulic valves may be divided into three types: directional control valves, pressure control valves, and flow control valves. Directional control valves guide the flow of fluid in the hydraulic system in a certain direction. They may stop or resume the flow of fluid. Directional control valves in a hydraulic circuit can change the fluid's flow route. Pressure reduction valves lower or release the pressure as the fluid passes through the system.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Solenoid Valve Market Regional Analysis:

North America dominated the global solenoid valve market share during the projected period. During the estimated period, APAC is expected to increase at the fastest rate of 3.9 percent. Many sectors, including water supply management, food and drinks, and chemical, are rapidly adopting automation solutions. As a result, the solenoid valve market is expected to develop. The solenoid valve market in this area has been driven by rising water and wastewater, oil and gas industries, automotive, and other factors in the country. According to the latest EIA figures, US crude oil output will average 12.1 million barrels per day in 2019. The oil and gas industry's extensive use of solenoid valves has fueled the market expansion. Solenoid valves provide several advantages that enable the industry to regulate machinery, dose, mix, or restrict the flow of liquids or gases. Furthermore, companies use solenoid valves to regulate the flow of fluid and generate motions in the process in automated systems. The growing need for clean and sanitary water supplies in the country is driving up demand for water treatment plants, which is driving up demand for solenoid valves. Growing industries and their requirements for process automation, such as liquid or gas flow, are expected to drive demand for solenoid valves in the nation.

Key Players in the Market:

Major Key Players in the Global Solenoid Valve Market are

• Peter Paul Electronics Co., Inc.
• Parker Hannifin Corp
• ASCO Valve, Inc.
• Fim Valvole s.r.l.
• Emerson
• LISK IRELAND LIMITED
• Kendrion
• Humphrey Products Corporation
• Bürkert Fluid Control Systems
• NSF Controls Ltd