Astute Analytica’s recent report on the global Solenoid Valves Market encompasses all of the factors that will impact the market in the coming years. The report covers a variety of topics, including the impact of COVID-19, shareholding segments, latest trends, future prospects, innovations, strategies, etc.
The Global Solenoid Valves Market is projected to witness a major rise in its revenue from US$ 4,222.7 Mn in 2021 to US$ 6,903.8 Mn by 2030. The market is registering a CAGR of 5.6% during the forecast period 2022-2030. In terms of volume, the market is registering a CAGR of 5% over the projection period.
Factors Influencing the Market
Favorable regulatory standards for tax breaks for infrastructure ventures are primarily driving the growth of the global Solenoid Valves Market. In addition, other factors like the rapidly growing urban population, technological advancements, and growing R&D activities will offer lucrative growth opportunities for market growth.
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However, risks associated with equipment handling and high machine costs are expected to stymie the growth of the Solenoid Valves market. This report on the global Industrial & Heavy Machinery Market outlines every subject impacting the market. The report offers both qualitative and quantitative analysis based on every segment.
COVID-19 Impact Analysis
Following the coronavirus pandemic, the Solenoid Valves market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the global Solenoid Valves Market.
Regional Analysis
The following are the various segments of the Global Solenoid Valves Market:
By Type segment of the Global Solenoid Valves Market is sub-segmented into:
- Direct-acting valves
- Pilot-operated valves
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By Function segment of the Global Solenoid Valves Market is sub-segmented into:
- 2-way
- 3-way
- 4-way
- 5-way
By Material segment of the Global Solenoid Valves Market is sub-segmented into:
- Stainless Steel
- Aluminum
- Plastic
- Others
By Operation segment of the Global Solenoid Valves Market is sub-segmented into:
- Normally open
- Normally closed
- Universal
By Media segment of the Global Solenoid Valves Market is sub-segmented into:
- Air
- Gas
- Water
By Industry segment of the Global Solenoid Valves Market is sub-segmented into:
- Oil & Gas
- Chemical & Petrochemical
- F&B
- Power Generation
- Pharmaceuticals
- Automotive
- Medical
- Others
By Region of the Global Solenoid Valves Market is sub-segmented into:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Key Players Insights
The key players in the Global Solenoid Valves Market are Danfoss Industries Limited, Curtiss-Wright Corporation, Emerson Electric Co., and Parker Hannifin Corporation, among others.
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