The recent analysis by Report Ocean on the Global Solenoid Valves Market Report 2022 revolves around various aspects of the market, including characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, strategies, etc. It also includes COVID-19 Outbreak Impact, accompanied by traces of the historic events. The study highlights the list of projected opportunities, sales and revenue on the basis of region and segments. Apart from that, it also documents other topics such as manufacturing cost analysis, Industrial Chain, etc. For better demonstration, it throws light on the precisely obtained data with the thoroughly crafted graphs, tables, Bar & Pie Charts, etc.
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Global Solenoid Valves Market, By Type (2 way, 3 way, 4 way, 5 way), By Component (Brass, Aluminum, Stainless Steel, Plastic), Operating Type (Direct, Semi-direct, Indirect), End User (chemical & petrochemical, food & beverages)- Forecast 2027
Market Analysis
The solenoid valves are mainly designed for withstanding the corrosive and humid environments. It is also capable of performing at extreme temperatures. Due to these, solenoid valves are progressively being utilized in food preparing industry. They are commonly made of stainless steel components. The valves utilized in the food industry come in two distinct variations, to be specific, utility service valves and direct contact valves. The direct contact valves are those that come in direct contact with the food items and are safe from corrosion, in nature. Utility service valves, do not come in direct contact with the food materials, and are regularly utilized for taking care of substances, for example, steam, water, and other non-sustenance related products. The global solenoid valves market is expected to reach the value of USD 4.6 Billion by the year 2027, by growing at 3.3% of CAGR between the years 2016 and 2027.
Solenoid valves are mainly utilized for the purpose of fluid control and automation, but with the gradual shift towards the renewable resources of energy like sun, air, water, for power generation process, there has been an expansion in the global solenoid valves market growth. The shift towards the hydrogen energy, solar thermal power plants, and geothermal energy processes are the major reasons that are accentuating the growth of solenoid valves market.
Market Segmentation
Solenoid valves market has been categorized into ype, operating type, body material, regional analysis and end user industry. The type segment is segmented into 2 way, 3 way, 4 way, 5 way and others. Based on its operating type, the global solenoid valves market is classified into direct, semi-direct, indirect, and others. On the basis of its body material, the global market is segmented into stainless steel, plastic body, brass body, aluminum body, and others. Again on the basis of its end user industry, the market is segmented into oil & gas, chemical & petrochemical, food & beverages, power generation, waste & wastewater, automotive, medical, pharmaceuticals, among others.
Regional Analysis
Geographically, the global solenoid valves market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
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Key Players
The major players in the global solenoid valves market include companies like Curtiss-Wright Corporation (U.S.), Parker Hannifin Corporation (U.S.), Asco Valve, Inc. (U.S.), IMI PLC (England), SMC Corporation (Japan), GF Piping Systems (Switzerland), Danfoss A/S (Denmark), Christian B?rkert GmbH & Co. Kg (Germany), OMEGA Engineering (U.S.), GSR Ventiltechnik GmbH & Co. KG (Germany), The Lee Company (U.S.), Rotex Controls B.V (Netherlands), Cole-Parmer Instrument Company LLC (U.S.), Cla-Val (U.S.), Hansen Technologies (U.S.), Aira Euro Automation Pvt. Ltd (India), among others.
Scope of the Report:
This comprehensive analysis delves into the effects of COVID-19 on the worldwide market, offering insights from both a global and regional viewpoint. The financial landscape of the industry saw a valuation of millions in 2022, which surged to its peak in 2023, and is projected to achieve another pinnacle by 2031, demonstrating a remarkable compound annual growth rate (CAGR) for the period between 2023 and 2031. The study places a strong emphasis on a detailed market assessment of the impact of COVID-19, presenting strategic response plans tailored to diverse regions, including North America, Europe, China, and Japan.
Some Important Questions Answered in Market Report:
- What will be the market growth rate, overview, and analysis by type in 2031?
- What are the primary factors influencing market dynamics?
- What are the drivers, challenges, and business risks in the market?
- What are the overall market dynamics? Does the overview include scope analysis and price analysis of key manufacturer profiles?
- What are the opportunities, risks, and driving forces in the market?
- Who are the main manufacturers in the market?
- What factors are driving and limiting this industry?
- What are the conditions for market growth?
- What are the industry opportunities and segment risks faced by major vendors?
- What are the strengths and weaknesses of the main providers?
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