Market Size of Solenoid Valves Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Solenoid Valves Market Analysis
The Solenoid Valves Market is expected to register a CAGR of 5.40% during the forecast period.
The market for solenoid valves is primarily driven by the growing popularity of process automation and the increased deployment of solenoid valves in various process sectors. For instance, these valves are frequently used in water treatment facilities. They assist in removing organic pollutants from contaminated water and have several other uses.
- Numerous solenoid valves, including those composed of plastic, brass, and stainless steel, are used in the water treatment sector. They can be used for various equipment intake valves, tank filling, service valves on water softeners, piloting larger actuated valves with air or water, and more.
- Further, the solenoid valve is one of the most commonly used in the food processing industry and is a great option for food processing. Many solenoid valves are designed to withstand harsh room temperatures and moist, corrosive conditions. Solenoid valves are often constructed with stainless steel because of the material's resistance to contaminants.
- A solenoid valve can also be used in hydropower, a kind of renewable energy, as a component of a system to control the flow of water. The rise in renewable energy projects is expected to drive the studied market. For instance, in November this year, as part of Invest Karnataka, ABC Cleantech and the Government of Karnataka signed an MoU for the establishment of a green hydrogen production unit with an annual capacity of 0.2 million tonnes and a green ammonia production unit with an annual capacity of 1 million tonnes, both integrated with 5 GW of renewable energy projects and costing an estimated USD 6 billion.
- The solenoid valves are of utmost importance in the medical sector as they facilitate delivering the correct concentration of gas and rate of flow to a patient on medical ventilators. In addition, solenoid valves moderate the oxygen flow rate with great speed and precision (increments as small as half a liter per minute) which provides effective patient care. The COVID-19 pandemic augmented the demand for critical medical equipment, thereby increasing the demand for solenoid valves.
- The medical sector is also witnessing several solenoid valve innovations catering to specific vital applications. For instance, in April this year, Emerson expanded its ASCO Series 090 line of miniature solenoid valves, adding a three-way Series 090 valve configuration to enable lighter, space-efficient solutions for gas control in oxygen therapy, compression therapy, and gas analyzer devices.
- However, one of the reasons that can hinder market expansion is solenoid coil failure, which has various possible causes. The coil could malfunction and perhaps burn out if the wrong voltage is applied. Electrical surges or spikes could also harm the coil. Coils that have burned out are beyond repair and must be replaced.
Solenoid Valves Industry Segmentation
Solenoid valves are control units that either shut off or allow fluid flow when electrically energized or de-energized. The actuator takes the formation of an electromagnet. When energized, a magnetic field builds up, which pulls a plunger or pivoted armature against the action of a spring. When de-energized, the spring action returns the plunger or pivoted armature to its original position.
The Solenoid Valves Market is segmented by type (direct acting, pilot operated, two way, three way, four way), by size (micro-miniature, sub-miniature, miniature, small diaphragm, large diaphragm), by end-user industry (food and beverage, automotive, chemical & petrochemical, power generation, oil and gas, healthcare & pharmaceutical), and by geography (North America [United States, Canada], Europe [Germany, United Kingdom, Italy, France, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Mexico, Brazil, Africa, and Others (Turkey, etc.)]). The report offers market forecasts and size in value (USD) for all the above segments.
| By Type | |
| Direct Acting | |
| Pilot Operated | |
| Two Way | |
| Three Way | |
| Four Way |
| By Size | |
| Micro-miniature | |
| Sub-miniature | |
| Miniature | |
| Small Diaphragm | |
| Large Diaphragm |
| By End-user Industry | ||||||||||||||
| Food and Beverage (Filtration Systems, Feeder systems, Food Processing, etc.) | ||||||||||||||
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| Healthcare & Pharmaceutical (Medical Devices & Air Purification Systems) | ||||||||||||||
| Other end-user verticals (Agriculture, Aerospace, Textile, etc.) |
| Geography*** | ||||||
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| Australia and New Zealand | ||||||
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Solenoid Valves Market Size Summary
The solenoid valve market is poised for significant growth, driven by the increasing adoption of process automation across various industries. These valves are integral to sectors such as water treatment, food processing, and renewable energy, where they facilitate efficient control of fluid and gas flows. In the water treatment industry, solenoid valves are utilized for tasks like tank filling and piloting larger valves, while in the food processing sector, they are preferred for their ability to withstand harsh conditions and resist contaminants, thanks to materials like stainless steel. The medical industry also relies heavily on solenoid valves for precise gas flow control in ventilators, a demand that surged during the COVID-19 pandemic. Innovations in solenoid valve technology continue to enhance their applications, further propelling market expansion.
Regionally, the Asia Pacific is expected to be a fast-growing market for solenoid valves, fueled by rising demand in the automotive, oil and gas, and healthcare sectors. The region's robust oil consumption and increasing automobile production present substantial opportunities for market growth. The competitive landscape of the solenoid valve market is marked by significant consolidation, with major players like ABB and Emerson Electric Co. acquiring companies to enhance their market presence. Recent product launches, such as high-flow pressure regulators and advanced solenoid valve designs, underscore the industry's focus on innovation and efficiency. Despite challenges like solenoid coil failure, the market's trajectory remains positive, supported by ongoing advancements and strategic industry movements.
Solenoid Valves Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing adoption for solenoid valves in the water treatment and beverage industries
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1.2.2 Ongoing shift to renewable energy-based projects to drive demand
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1.3 Market Restraints
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1.3.1 Dynamic nature of demand and cost reduction
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1.4 Industry Stakeholder Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Impact of COVID-19 on the Solenoid Valves Market
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1.7 Industry Standards & Regulations
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Direct Acting
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2.1.2 Pilot Operated
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2.1.3 Two Way
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2.1.4 Three Way
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2.1.5 Four Way
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2.2 By Size
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2.2.1 Micro-miniature
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2.2.2 Sub-miniature
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2.2.3 Miniature
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2.2.4 Small Diaphragm
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2.2.5 Large Diaphragm
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2.3 By End-user Industry
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2.3.1 Food and Beverage (Filtration Systems, Feeder systems, Food Processing, etc.)
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2.3.2 Automotive
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2.3.2.1 By Type
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2.3.2.1.1 Air Suspension
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2.3.2.1.2 Fuel Injection & Emission Control
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2.3.2.1.3 Safety & Security Systems
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2.3.2.1.4 Transmission Systems
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2.3.2.1.5 Others (Door Systems, HVAC, etc.)
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2.3.2.2 By Application
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2.3.2.2.1 Passenger
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2.3.2.2.2 Commercial
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2.3.2.2.3 Off-road
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2.3.3 Chemical & Petrochemical
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2.3.3.1 Direction-based control valves for storage units
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2.3.3.2 Isolation-based valves
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2.3.4 Power Generation
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2.3.4.1 Steam control & Feeder units
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2.3.4.2 Lifts & Pumping Systems
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2.3.4.3 Deluge Systems
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2.3.5 Oil and Gas
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2.3.5.1 Drilling Systems
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2.3.5.2 Extraction Systems
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2.3.5.3 Downstream supply
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2.3.6 Healthcare & Pharmaceutical (Medical Devices & Air Purification Systems)
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2.3.7 Other end-user verticals (Agriculture, Aerospace, Textile, etc.)
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2.4 Geography***
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 Italy
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2.4.2.4 France
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2.4.3 Asia
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.4 Australia and New Zealand
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2.4.5 Rest of the World
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2.4.5.1 Mexico
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2.4.5.2 Brazil
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2.4.5.3 Africa
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2.4.5.4 Others (Turkey, etc.)
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Solenoid Valves Market Size FAQs
What is the current Solenoid Valves Market size?
The Solenoid Valves Market is projected to register a CAGR of 5.40% during the forecast period (2024-2029)
Who are the key players in Solenoid Valves Market?
IMI Precision Engineering, Danfoss Industries Ltd, Curtiss Wright Corporation, Emerson Electric Co. and Parker Hannifin Corporation are the major companies operating in the Solenoid Valves Market.
