Solenoid Valves Market to Surpass Valuation of US$ 7,802.3 Million By 2032 | Astute Analytica
Solenoid valves market is poised for exponential growth, driven by the surge in industrial automation, smart technologies, and infrastructure development across diverse sectors. Innovative solutions are transforming fluid control, promising a dynamic and promising future.
New Delhi, Dec. 03, 2024 (GLOBE NEWSWIRE) — The global solenoid valves market was valued at US$ 4,657.6 million in 2023 and is projected to reach US$ 7,802.3 million by 2032 at a CAGR of 5.9% during the forecast period 2024–2032.
The solenoid valves market is poised for a vibrant future, brimming with opportunities set to elevate the industry in the coming years. Ongoing advancements in industrial automation and the proliferation of smart technologies are key factors driving this optimistic outlook. The global push towards Industry 4.0 positions solenoid valves as pivotal components in creating efficient, automated, and intelligent industrial processes. One significant opportunity lies in the integration of solenoid valves with emerging technologies like IoT and artificial intelligence. Enabling real-time monitoring and predictive maintenance, these advancements can notably enhance operational efficiency. McKinsey & Company reported that the potential economic impact of IoT applications could reach between USD 3.9 trillion to USD 11.1 trillion per year by 2025, highlighting immense potential for solenoid valves in connected industrial environments.
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Emerging economies in the solenoid valves market investing heavily in infrastructure development contribute to the positive outlook. As nations enhance water treatment facilities, energy production, and manufacturing capabilities, the demand for solenoid valves is expected to surge. Global investment in water infrastructure was projected to reach USD 600 billion annually by 2030, representing substantial opportunities in this sector. Additionally, the expansion of renewable energy offers new applications for solenoid valves, particularly in wind and solar power systems.
Prominent businesses are actively capitalizing on these opportunities. Companies like Parker Hannifin Corporation, Emerson Electric Co., and Danfoss A/S are investing in research and development to introduce innovative solenoid valve solutions. By focusing on energy efficiency, reliability, and connectivity, these companies aim to meet the evolving needs of modern industries. Collaborations between manufacturers and technology providers are expected to drive further advancements, fostering a dynamic and competitive market landscape.
Key Findings in Solenoid Valves Market
| Market Forecast (2032) | US$ 7,802.3 million |
| CAGR | 5.9% |
| Largest Region (2023) | North America (40.0%) |
| By Type | Direct Acting Valves (56.7%) |
| By Function | 2 Way (37.9%) |
| By Material | Stainless Steel (38.8%) |
| By Operation | Normally Open (60.6%) |
| By Media | Air (43.0%) |
| By Industry | Chemical & Petrochemical Industry (40.5%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Dominance of Direct-Acting Valves and 2-Way Functionality in Solenoid Valves
Direct-acting solenoid valves paired with the 2-way functionality dominate the solenoid valves market due to their operational simplicity, reliability, and versatility. In 2023, over million solenoid valves were sold globally, with direct-acting valves contributing 56.7% of the global market revenue. The 2-way function was incorporated in more than 47 million of these valves, making it the most widely used configuration. These valves are integral in water treatment systems, where over 4.2 billion gallons of water processed daily relied on them for flow control. Their quick response times and ability to operate without external pressure were critical in applications like laboratory equipment, with nearly 2 million units utilizing them in 2023.
The automotive industry remains a significant contributor to the solenoid valves market, with 18 million vehicles globally depending on direct-acting valves with 2-way functionality for fuel injection and emission control systems. In industrial automation, over 48% of new robotic systems installed in 2023 integrated these valves to ensure precise fluid control. Additionally, in HVAC systems, over 3.2 million units relied on such valves to regulate air conditioning and heating systems efficiently. The oil and gas industry adopted these valves in over 400,000 active pipelines for safe and accurate flow control.
The pharmaceutical sector, which manufactured 90 billion doses of medicine in 2023, heavily utilized these valves in fluid regulation systems to maintain sterility. Similarly, in irrigation systems for agriculture, 2-way solenoid valves were employed across 250 million acres of farmland globally. The cost-effectiveness of these valves saved industries over $2.1 billion in operational expenses last year, further solidifying their dominance. Their ability to handle high pressures across diverse applications ensures they remain indispensable in industries with growing automation and precision demands.
Preference for Stainless Steel Valves and Demand in Chemical & Petrochemical Industries to Remain High
The preference for stainless steel solenoid valves, coupled with their high demand in the chemical and petrochemical sectors, highlights their critical role in industrial applications in the global solenoid valves market. In 2023, stainless steel segment generated $1.78 billion in revenue. These valves were used in over 1.5 million chemical reactors to regulate the flow of hazardous and corrosive substances. Their unmatched resistance to corrosion made them vital for offshore oil platforms, with over 60,000 units installed to manage fluid control in harsh marine environments.
The petrochemical sector, which processed 450 million tons of crude oil in 2023, relied heavily on stainless steel valves for refining processes. In LNG (liquefied natural gas) production, where 180 million tons were exported globally, stainless steel valves were essential for managing cryogenic temperatures. Additionally, in fertilizer production facilities producing 210 million tons of products annually, these valves ensured precise chemical reactions and mixing. Increased adoption of stainless steel valves in food processing plants—more than 1.8 million globally—also underscored their importance in maintaining hygiene and regulatory compliance.
Stringent safety norms in the chemical industry, which handled over 1 billion tons of hazardous chemicals in 2023, further boosted demand for these valves. Their ability to operate under extreme pressures, such as 6,000 psi, made them indispensable in over 750,000 high-stress industrial applications worldwide. In pharmaceutical production, stainless steel valves were used in over 500,000 sterile systems to ensure contamination-free processes. Additionally, advancements in stainless steel alloys resulted in a 20% longer lifespan for these valves, saving industries $1.6 billion in maintenance costs annually. Their durability, reliability, and versatility ensure they remain the backbone of critical fluid control systems in the chemical and petrochemical industries.
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Dominance Analysis of Danfoss in the Solenoid Valves Market
Danfoss has cemented itself as the global leader in the solenoid valves industry by capturing over 8.1% market share. It is offering an unparalleled product portfolio, innovative technology, and a commitment to sustainability. Its solenoid valves, such as the EVR series, cater to a variety of industries including HVAC-R, industrial, and marine applications, making it a versatile and sought-after brand. With compatibility for over 20 refrigerants, including eco-friendly options like R290 and CO₂, Danfoss is not only meeting the current regulatory standards but also leading the way in sustainable solutions. Furthermore, its focus on advanced features such as reinforced diaphragms, soft-closing designs, and water hammer protection ensures that its products are durable and efficient, further solidifying its dominance.
One of the key drivers of Danfoss’s leadership in the solenoid valves market is its ability to cater to diverse industries and applications. From high-performance valves for industrial systems to GL-DNV-approved solutions for marine environments, the company has demonstrated its ability to adapt and innovate. Its ECO brass solenoid valve program, designed for leak detection, highlights Danfoss’s focus on safety and compliance with stringent regulations. Additionally, the ICSH Dual Position Solenoid Valve provides a unique solution for preventing hydraulic shocks, showcasing its engineering excellence. With operating pressures up to 25 bar and temperature ranges suited for demanding conditions, Danfoss products meet the highest performance standards, ensuring reliability across all sectors.
Danfoss combines its innovative product offerings with a strategic approach to customer satisfaction, including competitive pricing, easy installation, and global service support. Its compliance with international standards like PED, UL, and ATEX demonstrates its commitment to quality and safety. By addressing modern challenges like refrigerant sustainability and system optimization, Danfoss has successfully positioned itself as the dominant force in the solenoid valves market, outpacing competitors and setting benchmarks for the industry.
Key Companies:
- Airtac
- Anshan Electromagnetic Value
- ASCO Valve Inc.
- CEME S.p.A.
- Christian Bürkert GmbH & Co. KG
- CKD Corporation
- Curtiss-Wright Corporation
- Danfoss A/S
- GSR Ventiltechnik GmbH & Co. KG
- Juliang Valve
- ODE S.r.l.
- Takasago Electric Industry Co., Ltd
- YONG CHUANG
- Zhejiang Sanhua
- Zhejiang Yongjiu
- Other Prominent Players
Key Segmentation:
By Type:
- Direct-acting valves
- Pilot-operated valves
By Function:
- 2-way
- 3-way
- 4-way
- 5-way
By Material:
- 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
- Europe
- Asia Pacific
- South America
- Middle East & Africa
View report summary and Table of Contents (TOC): https://www.astuteanalytica.com/industry-report/solenoid-valves-market
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