Hyderabad, Oct. 17, 2016 (GLOBE NEWSWIRE) -- According to the new report “Solenoid Valves Market Analysis: By Types (Two port, Three-way, Four-way, Direct Acting, Pilot operated); By Industry (Water Treatment, Power, Pulp & Paper, Food & Beverage, Chemical) - Forecast (2016 - 2022)” published by IndustryARC, Solenoid Valves Market to cross $6 Billion by 2022 at a high CAGR.
Browse 31 Market Tables, 56 Figures spread through 164 Pages and an in-depth TOC on “Solenoid Valves Market”
Solenoid valves are used as control elements in various industry verticals such as automotive, oil and gas, water treatment and so on for controlling both aqueous and gaseous fluids. Solenoid valves are valves which can be controlled by passing electric current through the solenoid, thus creating a magnetic field to open or close the plunger mechanism. They are primarily used as controlling devices in systems and motors where liquid and gas flow rate needs to be regulated. These solenoid valves perform various tasks such as; releasing, shutting-off, mixing or distributing fluids with advantages such as; high reliability, fast and safe switching, extended service life, compact design and low control power.
The Chemical and Petrochemical Industry is expected to dominate global solenoid valve market in 2016; whereas growing residential and non-residential segments is set to drive solenoid market in construction industry at highest pace during the period of forecast. Asia-Pacific region held major share in the solenoid valves market in 2015 and is projected to grow at fastest pace during the 2016-2022 owing to rising need of providing safe and clean drinking water coupled with increasing investments in water treatment plants. Solenoid valves are adversely affected by power failure, uneven pressure and wrong voltage thus posing a challenge for the manufacturers hindering the market growth.
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Driven by increasing applications and demand in various end user industries, the market for solenoid valves is set to cross $6 Billion by 2022. Decreasing/low prices of valves and lower power consumption along with development of new solenoid valves such as; micro-miniature valves, customized valves and pinch valves are set to drive the market growth. Key market players are focusing more on the development of new technologies and on providing industry-specific products in order to enhance their market share.
Asia is the leading market for solenoid valves with China leading the charge. Asia region is forecast to have highest growth in the next few years due to growing adoption of solenoid valves in industrial applications. Asia solenoid valve market accounts to 39.17% of the global market for solenoid valves. The Asia market for solenoid valves is forecast to be the fastest growing market with a CAGR of 4.5%.
Key Industry Trends:
- Main drivers for the Global Solenoid Valves market are: Automatic flow system, new control designs, low power consumption.
- Oil & gas, Water treatment and Chemicals are the key industries for the development of new Industry verticals in the Global Solenoid Valves.
- Development of new technologies with improved features and performance are set to drive the market.
- Development of new solenoid valves such as customized valves, micro-miniature valves, pinch valves, manifolds, etc., have led to increased demand for fluid control needs.
- Solenoid Valve`s will have an upsurge demand in next five years due to increasing government regulations on industries such as Oil and Gas. Solenoid Valves with features such as detecting internal and external leaks will support the plant in safety factors.
List of Companies Cited in the report:
A.u.K. Müller GmbH & Co. KG, ABB Measurements & Analytics, AirTAC International Group, ALBERT FEZER MASCHINENFABRIK GMBH, Albion Valves (UK) Ltd., ALEXANDER CONTROLS LTD., ASCO Valve Inc. (Emersion Electric Company), Automatic Valve Corp., Barksdale Control Products, BI-TORQ® Valve Automation, Bray Controls, Inc., Burkert Fluid Control Systems, Carr Lane Manufacturing Co., Clark Solutions, CKD Corporation, CLA-VAL EUROPE SARL, Crane Valve Group, Curtiss-Wright Corporation, Danfoss A/S, Deltrol Controls/Division of Deltrol Corp. and many more.
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Why Buy Solenoid Valves Market Report?
- Get a detailed understanding of the solenoid valves market.
- Pinpoint growth sectors and identify factors driving change.
- Understand the competitive environment, the market's major players and the leading brands.
- A five-year forecast for the key geographic regions, countries and end applications, in order to assess how the market is predicted to develop.
- More than 100 data tables and figures to assist in strategic decision making plans.
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