Global Solenoid Valve Market is expected to be worth US$ 6.9 Billion at CAGR of 4.5% during forecast period 2023 to 2033

Jul 27, 2023

With the automotive industry experiencing substantial growth, the United States solenoid valve industry is poised to achieve a market value of US$ 2.2 billion by 2033. While the historical period witnessed a 4% compound annual growth rate (CAGR), the market is anticipated to register a slightly lower CAGR of 3.4% over the forecast period. The increasing demand for solenoid valves can be attributed to the expanding automotive sector, which has played a pivotal role in driving their sales

NEWARK, Del, June 28, 2023 (GLOBE NEWSWIRE) -- The solenoid valve market is forecast to expand at 4.5% CAGR over the estimated time, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 4.5 billion in 2023.

Strict regulations in the food and beverage and medical industries, especially in developed countries, are propelling the demand for solenoid valves in their production process. Additionally, today's technology-driven environment is giving momentum to automation in several industries. Since the increase in industries requiring power is rising, governments are coming forward to boost the capacity of the prevailing power plants and have sanctioned projects to build new power plants.

Surging concerns over the plants’ safety magnify the solenoid valve's prospects. Owing to their strong magnetic field and electric current, solenoid valve makes for a great safety measure to debilitate the effect of a potential disaster.

Get an overview of the market from industry experts to evaluate and develop growth strategies. Get your sample report here @ https://www.futuremarketinsights.com/reports/sample/rep-gb-17425

Key players in the market are making significant investments in research activities to expand their product lines. Locally increasing the manufacturing capacity also helps reduce the company's operational costs. Key manufacturers are employing this business tactic to help increase their overall revenue.

Key Takeaways:

The United States industry is projected to reach US$ 2.2 billion by 2033. From 2023 to 2033, the market is expected to record a CAGR of 3.4%.

The United Kingdom solenoid valve industry is expected to reach US$ 347.2 million by 2033 end. In the coming decade, the industry is anticipated to perceive a market CAGR of 3.7%, in contrast to the 4.3% CAGR observed in the historical period.

The China solenoid valve industry is expected to expand at a CAGR of 5.4% to reach US$ 595.5 million by 2033. In the historical period, the market recorded a CAGR of 6.9%.

The Japan solenoid valve industry is projected to gain US$ 503.1 million by 2033. Over the forthcoming period, the market is anticipated to expand at a CAGR of 3.9%, as opposed to a 4.7% CAGR in the historical period.

The South Korea solenoid valve industry is estimated to expand at a CAGR of 4.9% compared to the 6.2% CAGR observed in the historical period. By 2033, the market is projected to reach US$ 280.6 million 2033.

Based on operation, the normally open segment is projected to expand at a CAGR of 4.4% over the forecast period. In the historical period, the segment registered a CAGR of 5.2%.

Based on function, the 2-way segment is projected to represent a CAGR of 4.3% in the next ten years. In the historical period, the market registered a CAGR of 5%.

Competitive Landscape:

Kendrion exhibited its newly developed bistable solenoid valve 63.0 in October 2022 at COMPAMED 2022. The valve regulates the rate of flow. A joined permanent magnet ensures it is de-energized in the closed or open state without permanently energizing the coil. The valve is commercially available in a 3/2- or 2/2-way version and can be tailored to meet precise requirements.

Emerson, an engineering, technology, and software firm, began operations in Mahindra World City, Chennai, in February 2022. This unit develops pneumatics and fluid control products, such as cylinders, solenoid valves, pneumatic valves and manifolds, air preparation units, etc., for Emerson’s field-proven brands ASCO, AVENTICS, TESCOM, and TopWorx.

Grow your profit margins – Buy this report now at a discounted price @ https://www.futuremarketinsights.com/checkout/17425

Key Segments Profiled:

By Type:

Direct-acting Valves

Pilot-operated Valves

By Function:

2-way

3-way

4-way

5-way

By Materia:

Stainless Steel

Aluminum

Plastic

Others

By Operation:

Normally Open

Normally Closed

Universal

By Media:

Air

Gas

Water

By Industry:

Oil & Gas

Chemical & Petrochemical

F&B

Power Generation

Pharmaceuticals

Automotive

Medical

Others

By Region:

North America

Latin America

Europe

Asia Pacific

The Middle East and Africa

Expand operations in the future - ask for your customized report @ https://www.futuremarketinsights.com/customization-available/rep-gb-17425

Table of Content (ToC):

1. Executive Summary | Solenoid Valve Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

3.4. Product Life Cycle Analysis

3.5. Supply Chain Analysis

3.6. Investment Feasibility Matrix

3.7. Value Chain Analysis

3.8. PESTLE and Porter’s Analysis

3.9. Regulatory Landscape

3.10. Regional Parent Market Outlook

3.11. Production and Consumption Statistics

3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022

5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033

5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022

5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Function

6.1. Introduction / Key Findings

6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Function, 2018 to 2022

6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Function, 2023 to 2033

6.4. Y-o-Y Growth Trend Analysis By Function, 2018 to 2022

6.5. Absolute $ Opportunity Analysis By Function, 2023 to 2033

Curious about our methodology? Click here to learn more about the rigorous approach we used to gather and analyze the data for this study: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17425

Explore FMI’s Extensive Coverage on Industrial Automation Domain:

North America Residential Ball Valves Market Size: According to Future Market Insights (FMI), between 2022 and 2032, the North America market for Residential Ball Valves will grow at a CAGR of 5.6%, reaching a valuation of US$ 554.1 Million in 2032.

Palletizing Robots Market Forecast: The global palletizing robots market is expected to reach a value of US$ 1,476.8 Million in 2022. Sales prospects in the market are expected to expand at a healthy 5.0% CAGR, surpassing US$ 2,405.5 Million by 2032.

USA Plastic-to-fuel Market Share: With US$ 112.5 Million in the current year 2022, the USA plastic-to-fuel industry is anticipated to reach a worth of around US$ 221.3 Million by the end of the year 2032.

Lamella Clarifier Market Outlook: The global lamella clarifier market stood at around US$ 489.2 Million in 2021 and is expected to expand at a CAGR of 4.7% from 2022 to 2032.

Dry Washer Market Overview: The dry washer market has reached a CAGR of 2.6% during the forecast period. The market is anticipated at US$ 342.1 Million in 2022, and is likely to be valued at US$ 442.2 Million by 2032.

Adoption of Benelux Power Tools Market Analysis: The Benelux power tools market size reached US$ 1,051.6 Million in 2021 and is likely to touch a valuation of US$ 1,091.4 Million in 2022.

Substation Automation Market Sales: The overall demand for substation automation is projected to grow at a CAGR of 6.7% between 2022 and 2032, totaling around US$ 55.69 Billion by 2032.

Drum Pump Market Demand: The global drum pump market is expected to be valued at US$ 503.6 Million in 2022. Increasing adoption of advanced technology for effectively delivering the drug to the target site is expected to drive overall market growth.

Echo Sounders Market Key Trends: The global echo sounders market is expected to accumulate US$ 298 Million in value by 2022 end. During the forecast period ranging from 2022 to 2032.

Currency Counting Machines Market Review: The global currency counting machines market leads to an estimated CAGR of 4.7% in the global market, during the forecast period and registers a revenue valued at US$ 231.4 Million in 2022.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.Christiana Corporate, 200 Continental Drive,Suite 401, Newark, Delaware - 19713, USA T: +1-845-579-5705LinkedIn | Twitter | Blogs | YouTubeFor Sales Enquiries: [email protected]