Solenoid Valves Market Size Analysis, Top Regions, Key Players and Investments Opportunities Forecast up to 2028

 

Solenoid Valves Market

The global Solenoid Valves Market size was valued at USD 4.25 billion in 2020 and is expected to grow at a CAGR of 3.9 from 2022 to 2028.

The Solenoid Valves Market is primarily driven by the increased use of solenoid valves in various process sectors and the rising popularity of process automation. For instance, water treatment facilities typically employ these valves. They serve a number of other purposes in addition to helping remove organic contaminants from contaminated water. The water treatment industry uses a variety of solenoid valves, including ones made of plastic, brass, and stainless steel. They can be used to pilot bigger actuated valves with air or water, fill tanks, operate service valves on water softeners, and more.

Furthermore, the Solenoid Valve is a fantastic solution for food processing and one of the most often used in the sector. A lot of solenoid valves are made to tolerate chilly room temperatures and corrosive, damp environments. Stainless steel is frequently used in solenoid valve construction because of the material's resistance to impurities. A solenoid valve can also be used as a part of a system to control the flow of water in a hydropower system, which is a kind of renewable energy. The Solenoid Valves Market under study is anticipated to be driven by an increase in renewable energy projects.

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, for example, were signed by ABC Cleantech and the Government of Karnataka in November as part of Invest Karnataka.

In the medical field, Solenoid Valves are crucial because they make it easier to provide patients using medical ventilators with the right concentration of gas and flow rate. Moreover, solenoid valves quickly and precisely adjust the oxygen flow rate (increments as tiny as half a litre per minute), resulting in efficient patient care. Solenoid valve demand increased as a result of the COVID-19 pandemic's increased need for essential medical equipment. Many solenoid valve advancements addressing certain critical applications are also being seen in the medical field. 

The Solenoid Valves Market is highly competitive, with several major players operating in the market. Some of the key players in the solenoid valves market include Emerson Electric Co., Parker Hannifin Corporation, IMI plc, Danfoss A/S, Curtiss-Wright Corporation, SMC Corporation, GSR Ventiltechnik GmbH & Co. KG, CKD Corporation, Christian Bürkert GmbH & Co. KG, and Rotex Automation Limited.

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