A Electromechanical Solenoid Valve is an electromechanically operated valve. Solenoid Valve is used to control the fluid automatic based components, belonging to the actuator; the valve is controlled by an electric current through a solenoid: in the case of a two-port valve the flow is switched on or off; in the case of a three-port valve, the outflow is switched between the two outlet ports. Multiple Solenoid Valves can be placed together on a manifold.
Due to COVID-19 pandemic, the global Electromechanical Solenoid Valves market size is estimated to be worth US$ 4311.5 million in 2021 and is forecast to a readjusted size of USD 5398.3 million by 2028 with a CAGR of 3.3% during forecast period 2022-2028.
On the basis of type, the Solenoid Valves market has been segmented into Direct-acting Type, Sub-step Direct-acting Type and Pilot-type. The Sub-step Direct-acting Type segment is estimated to register the highest CAGR, in terms of value, of the overall Solenoid Valves market. The growth of the Direct-acting Type segment is expected to continue during the forecast period due to the increasing demand for home appliance and automotive application.
On the basis of application, the Solenoid Valves market has been segmented into Home Appliance, Automobile, General Industry, Automation and others. The Automation segment is projected to dominate the Solenoid Valves market during the forecast period. The dominance of the Home Appliance segment can be attributed to the increasing usage of Solenoid Valves.
Globally, the Solenoid Valves industry market is low concentrated as the manufacturing technology of Solenoid Valves is relatively mature. And some enterprises, like Emerson, Kendrion, etc. are well-known for the wonderful performance of their Solenoid Valves.
The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to extensive usage in the home appliance and automotive field. This can primarily be attributed to the considerable Chinese market, which contributes significantly to global volume as well as revenue generation. Although average selling prices are lower in the Asia Pacific, high demand is expected to result in sizable market revenue over the next six years.
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Global Solenoid Valves Market was valued at US$ 4.1Bn in 2019 and is expected to reach US$ 5.9Bn by 2027, at a CAGR of 4.65% during a forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
Countries like India and South Korea also present better opportunities for solenoid valve manufacturers.
The solenoid valve is a significant component in these industries and aids the control of liquids and gases.Recent development in global solenoid valves market, Pentair Plc., a water treatment company that designs and productions valves and actuators, merged with Emerson Electric Company, a leading key player in the industry that deliveries products for industrial automation, process management, network power, and commercial solutions in 2019.Global Solenoid Valves Market Regional Insights:In China, Rotork fitted ELB units into gas-over-pipeline actuators for line break monitoring.
The task of the ELB units is to permit the operator to monitor the running condition of the gas pipeline and the status of the valves.
The ELB units are providing with an array of programmable alarm and alert indicators, which can assist the operator closes the appropriate valves.The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
Global Solenoid Valves Market was valued at US$ 4.1Bn in 2019 and is expected to reach US$ 5.9Bn by 2027, at a CAGR of 4.65% during a forecast period.The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters.
Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments.
The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Increasing countries like India and South Korea also present better opportunities for solenoid valve manufacturers.
The solenoid valve is a significant component in these industries and aids the control of liquids and gases.Recent development in global solenoid valves market, Pentair Plc., a water treatment company that designs and productions valves and actuators, merged with Emerson Electric Company, a leading key player in the industry that deliveries products for industrial automation, process management, network power, and commercial solutions in 2017.In China, Rotork fitted ELB units into gas-over-pipeline actuators for line break monitoring.
The task of the ELB units is to permit the operator to monitor the running condition of the gas pipeline and the status of the valves.
