Solenoid Valve Market Size (2024 –2030)

The Global Solenoid Valve Market was valued at USD 5.55 billion and is projected to reach a market size of USD 7.71 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 4.8%.

A solenoid valve is a device that uses electromagnetic force to regulate the flow of gases or liquids. The valve can open or close to regulate the flow when an electric current flows through it. These valves are compact, require little power, switch on and off quickly, and have a long lifespan. These characteristics make solenoid valves useful in a wide range of applications, such as paintball guns, doorbells, and industrial machinery. For instance, when you press the button on a doorbell, electricity passes through the solenoid and creates a magnetic field that moves a piston, ringing the bell.

Key Market Insights:

In terms of region, North America holds the largest market share of around 30% for solenoid valves, attributed to the growing industrialization and the increasing adoption of automation technologies in the region.

The demand for high-performance solenoid valves, such as those with low power consumption and improved reliability, is growing at a rate of approximately 8% annually, driven by the need for energy-efficient and durable solutions in various industries.

The industrial automation segment constitutes approximately 35% of the demand for solenoid valves, driven by their widespread use in controlling the flow of liquids and gases in manufacturing processes.

Direct-acting solenoid valves account for around 55% of the solenoid valve market share, owing to their simple design, fast response times, and suitability for various applications.

Global Solenoid Valve Market Drivers:

Increasing market expansion through increased industry applications and demand for wastewater treatment solenoid valves.

Numerous factors are anticipated to contribute to the growth of the solenoid valve market. Demand will rise due to the growing need for wastewater treatment facilities. Growth in the market is also being driven by urbanization and industrialization, as more industries are using solenoid valves. This growth is also being facilitated by the food and beverage industry and the application of valve diagnostic systems. However, the market's growth may be slowed down by the switch to renewable energy sources. Despite this, market growth is anticipated to pick up speed between 2023 and 2030 due to the growing usage of micro solenoid valves.

The benefits of direct-acting solenoid valves include their versatile applications, affordable design, and growing market share.

The absence of a diaphragm in direct-acting solenoid valves guarantees their closure in the absence of pressure, making them widely used in the industry. Because of their fundamental working principles, these valves are used in a wide range of industries. For jobs like filling, dosing, venting, and shutting off, they are perfect. Their compact, lightweight, and affordable design has led to their widespread adoption. These valves are especially helpful in applications involving pure and neutral gases, liquids, and vapors. The solenoid valve market is expanding due to their ease of use and effectiveness.

Solenoid Valve Market Challenges and Restraints:

In the oil and gas sector, solenoid valves are essential for a variety of processes, including upstream (exploration and extraction) and downstream (filtering and purification). They play a crucial role in fractional distillation, heating, control, safety, and catalytic cracking systems. Because of their extensive use, they are well-liked in the business. Nonetheless, the industry has slowed down due to the drop in demand for oil and fossil fuels, which has resulted in the closure of multiple oil rigs. Even though this slowdown has abated, the demand decline is still anticipated to impede the solenoid valve market's expansion in the upcoming years.

Solenoid Valve Market Opportunities:

The market for solenoid valves offers numerous chances for expansion and innovation. An important opportunity is the growing need for automation in several different industries. The increasing prevalence of automation is driving up demand for solenoid valves that enable remote control and monitoring of fluid flow processes. This presents an opportunity for manufacturers to create intelligent and networked valve solutions. Solenoid valve manufacturers can also benefit from the growth of industries like biotechnology, electric vehicles, and renewable energy by providing valves for new and developing technologies. Solenoid valves, for instance, are crucial parts of electric car and battery storage systems, as well as renewable energy systems like solar and wind turbines. Furthermore, there is a growing focus on sustainability and energy efficiency, which presents opportunities for manufacturers to create low-power, low-impact solenoid valves that are environmentally friendly. By assisting businesses in reducing their energy expenses and carbon footprint, these energy-efficient valves will increase market demand. Furthermore, manufacturers of solenoid valves have the chance to provide customized solutions that address the unique requirements of various end users thanks to the growing emphasis on integration and customization in industrial automation. Customizable valve designs and integration services enable businesses to meet the various needs of various industries, including pharmaceuticals, food and beverage, automotive, and more.

SOLENOID VALVE MARKET REPORT COVERAGE:

Global Solenoid Valve Market Segmentation: By Body Material

• Stainless Steel

• Brass

• Aluminium

• Plastic

Brass, plastic, aluminum, and stainless steel are the material-based segments of the worldwide solenoid valve market. Throughout the projection period, the stainless steel segment is anticipated to see rapid revenue growth. Corrosion resistance, ease of manufacturing, and excellent outdoor compatibility are some of the factors driving this growth. Solenoid valves made of stainless steel are perfect for chemical and corrosive environments. They are necessary for remotely or automatically regulating the movement and transfer of gases, oil, water, and chemical mixtures via pipelines. These valves are also utilized in many other applications, such as cores, relays, armatures, and commercial solenoid pumps, for controlling and regulating the flow of corrosive fluids. There will likely be a rise in demand for products made of stainless steel as laws requiring the use of better and safer materials come into effect. The least expensive material that is both durable and resistant to corrosion is stainless steel. But out of all the materials, brass solenoid valves are the most widely used because their market is expanding at the fastest rate and they work with the majority of chemicals. Brass solenoid valves are efficient and compatible with a wide range of applications.

Global Solenoid Valve Market Segmentation: By Valve Design Type

• 2-way

• 3-way

• 4-way

• 5-way

With a sizeable chunk of the market share in 2023, the 2-way solenoid valve is swiftly rising to the top of the industry. Over the projection period, this category is anticipated to grow at the fastest rate and with the greatest dominance, outpacing the historical period's CAGR. Two-way solenoid valves are frequently used in sawdust management, process heating, hydraulic lifts, and log misting systems. Their extensive use in many different industries is fueled by large investments in process industries. Solenoid valves are being used more frequently because of their automated flow control capabilities, small size, low cost, and ability to block leaks. Their use is also being increased by developments in electric current and magnetic field technologies.

Global Solenoid Valve Market Segmentation: By Industry

• Oil & Gas

• Chemical & Petrochemical

• Water & Wastewater

• Food & Beverages

• Power Generation

• Pharmaceuticals

• Automotive

• Medical

• Others

Food and beverage (F&B), aerospace and defense, water and wastewater, chemical and petrochemical, oil and gas, automotive, healthcare and pharmaceutical, power generation, and other end-user industries make up the various segments of the global solenoid valve market. Over the estimated period, the food and beverage segment is anticipated to make the largest revenue contribution. The valves' resistance to a range of temperatures, low power consumption, ease of installation, and adaptability for remote operations are factors contributing to the growth of this market. Because stainless steel resists impurities well, it is a popular material for solenoid valves, which are perfect for food processing. They are employed in the manufacturing of ready meals, wine distribution devices, fruit and vegetable canneries, fish canneries, fruit and vegetable salting systems, and bottling plants for beer. The market for solenoid valves in the automotive industry is anticipated to expand quickly. Solenoid valves are utilized in engine control, lubrication, air intake, exhaust, locking, safety systems, steering, suspension, and gearbox systems in the automotive industry. They can also be found in automated transmission drive options, security systems, and controllers for air conditioning. Globally, the automobile sector is growing, especially in developing nations where production is rising. Significant growth and profitability have been witnessed by the automotive industry, with annual sales in certain markets surpassing pre-recession levels.

Global Solenoid Valve Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

North America's strong end-user industries and well-developed infrastructure contributed to the region's substantial market share in the global solenoid valves market in 2022. The adoption of contemporary fluid automation technologies and their growing applications in industries like water treatment, food and beverage, chemical, and oil and gas can be credited with the market's success in North America. The market's growth has also been aided by the increasing automation of production processes in manufacturing facilities. Solenoid valve demand will rise as a result of these advancements, which are intended to improve performance, decrease labor costs, and increase efficiency. Nonetheless, over the anticipated period, the Asia Pacific region is anticipated to grow at the fastest compound annual growth rate (CAGR). The region's growth is primarily being propelled by the growing end-use industries, especially in China, India, and Japan. The growing demand for solenoid valves is largely due to the expanding industrial sector and growing investments in automation technologies. Further driving the market's growth are anticipated to be rising disposable income and consumer awareness of the advantages of automation technology. New opportunities for the growth of the solenoid valve market are also presented by the expansion of the food and beverage, water treatment, and chemical sectors in the Asia Pacific region.

COVID-19 Impact on the global Solenoid Valve Market:

Early in the COVID-19 pandemic, lower end-user demand resulted in losses for the solenoid valve market. These valves find extensive application in the automotive and food processing sectors. Except for those offering necessities, many businesses closed or shortened their hours of operation during the pandemic. This caused a downturn in several industries, including auto manufacturing and sales. Furthermore impacted was the oil and gas industry, which uses solenoid valves extensively. Crude oil demand and prices fell precipitously as a result of the pandemic. According to estimates from the International Energy Agency, shutdowns caused by COVID-19 decreased the world's oil consumption by 30 million barrels per day. This precipitous drop was brought on by rising production, declining demand, and a shortage of storage space.

Latest Trend/Development:

There are new developments and trends in the solenoid valve market. Businesses are developing smarter valves that can be operated remotely. Another area of focus is energy-efficient valve development. Electric vehicles and renewable energy are two new industries using these valves. To fit valves in confined spaces, manufacturers are also making them smaller and stronger. Consumers want valves that are simple to add to their systems and can be readily customized to meet their needs. In general, the market for solenoid valves is evolving to satisfy the demands of various industries and improve operations.

Key Players:

1. Aira Euro Automation Pvt Ltd.

2. AirTAC International Group

3. Anshan Solenoid Valve Co. Ltd.

4. CEME SpA

5. Christian Bürkert GmbH & Co. KG

6. Cla-Val

7. Cole-Parmer Instrument Company, LLC.

8. Danfoss A/S

9. Emerson Electric Co.

10. GF Piping Systems

Market News:

• With the release of a new three-way valve design in April 2022, Emerson increased the selection of small solenoid valves available in the ASCO Series 090 series. For managing gases in oxygen treatment, compression therapy, and gas analyzer equipment, this configuration is more efficient and compact.

• At COMPAMED 2022 in October 2022, Kendrion debuted its newest bistable solenoid valve, model 63.0. Thanks to an integrated permanent magnet, this valve provides quick and accurate flow rate control without continuously powering the coil in either the open or closed position. It can be customized to meet specific needs and is offered in 2/2- or 3/2-way versions.