Global Stainless Steel Solenoid Valves Market, By Type (2 Way, 3 Way, 4 Way, 5 Way), Operating Type (Direct, Semi-Direct, Indirect), End User (Chemical and Petrochemical, Water and Wastewater, Automotive, Medical, Pharmaceutical, Power Generation, Food and Beverages) – Industry Trends and Forecast to 2029.
Stainless Steel Solenoid Valves Market Analysis and Size
Solenoid valves play an important role in industrial automation. Wide product offerings, a wide range of applications, and a high market penetration of solenoid valves ensure that these products are in constant demand, both as replacement components and for new installations. Oil and gas, automotive, food and beverages, and the utility sector are some of the major end-user industries that maintain a steady demand for solenoid valves.
Data Bridge Market Research analyses that the stainless steel solenoid valves market was valued at USD 1.12 billion in 2021 and is expected to reach the value of USD 1.50 billion by 2029, at a CAGR of 3.70% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Stainless Steel Solenoid Valves Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Type (2 Way, 3 Way, 4 Way, 5 Way), Operating Type (Direct, Semi-Direct, Indirect), End User (Chemical and Petrochemical, Water and Wastewater, Automotive, Medical, Pharmaceutical, Power Generation, Food and Beverages),
|
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
|
Market Players Covered
|
CEME S.p.A. (Italy), CKD Corporation (Japan), ODE S.r.l. (Italy), KANEKO SANGYO Co., Ltd. (Japan), Takasago Electric Industry Co., Ltd. (Japan) Curtiss-wright Corporation (U.S.), ALFA LAVAL (Sweden), IMI plc (U.K.), LESER GmbH & Co.KG (Germany), The Weir Group PLC (Scotland), Forbes Marshall (India), Bosch Rexroth AG (Germany), Spirax Sarco Limited (U.K.), Danfoss A/S (Denmark), GSR Ventiltechnik GmbH & Co. KG (Germany), ASCO Valve, Inc. (U.S.), Christian Bürkert GmbH & Co. KG (Germany), KANEKO SANGYO Co., Ltd. (Japan)
|
|
Market Opportunities
|
|
Market Definition
Solenoid valves are devices that control the flow of fluid or air. These devices are ideal for a variety of industrial applications due to their durability and dependability. They are used to control the aggressiveness of fluids such as water, air, inert gases, steam, and fluids in general. They are used in a variety of sectors, including household appliances and coffee machines, drinks machines, industrial washing machines, autoclaves/sterilizers, irrigation systems and fire suppression, dental equipment, steam boilers, and industrial applications.
Drivers
- High demand in food handling applications
Many food handling applications use food grade solenoid valves and solenoid valve manifolds, particularly in beverage dispensing machines. Food-grade seals and valve body materials are required for unaltered beverage taste. As solenoid valves are designed to withstand extreme temperatures, humidity, and corrosive conditions, they are the most popular valves in the food and beverage industries. Due to its contaminant resistance, stainless steel is used to make these valves in order for them to last a long time.
- Expansion of process industries is creating market opportunities
Rising water and power demand, pollution control regulations, and the rapid growth of process industries are just a few of the factors propelling the market for stainless steel solenoid valves. These factors are expected to accelerate the growth of the stainless steel solenoid valve industry during the assessment period. The market is expanding due to the increased construction of nuclear power plants. The global market is being propelled forward by an increase in accidental incidents and soaring demand for stainless steel solenoid valves in a variety of industrial sectors.
Opportunities
- Innovation and development of new solenoid valves
Opportunities for the global stainless steel solenoid valves market include rising innovation and development of new solenoid valves, as well as the growing importance of providing safe drinking water.
Restraints
- Socio-economic factors are challenging market growth
The major challenges of the stainless steel solenoid valves market are various environmental, economic, political, and social factors that influence the price of solenoid valves as well as their reliability.
- Technical issues
During the forecast period, the stainless steel solenoid valves market is expected to be hampered by irregular power supply, technical issues associated with solenoid valves rough pressure, and other budgetary factors.
This stainless steel solenoid valve market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the stainless steel solenoid valve market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Stainless Steel Solenoid Valves Market
These valves are widely used in the food processing industry in two forms: direct contact valves and utility service valves. Because of the COVID-19 pandemic, governments imposed lockdowns and closed down all businesses except those providing essential goods and services. The market's growth is being hampered by the need for processed food during the lockdown. Additional precautions have been taken, including maintaining social distance, hand sanitising, and using gloves for food safety during the pandemic. In addition, solenoid valves are widely used in the oil and gas industry. The COVID-19 virus outbreak in China, as well as its continued spread in other countries around the world, has reduced crude oil demand and prices.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures
Global Stainless Steel Solenoid Valves Market Scope
The stainless steel solenoid valves market is segmented on the basis of design type, operating type and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Design Type
- 2 Way
- 3 Way
- 4 Way
- 5 Way
Operating Type
- Direct
- Semi-Direct
- Indirect
End user
- Water and Wastewater
- Chemical and Petrochemical
- Automotive
- Medical
- Pharmaceutical
- Power Generation
- Food and Beverages
Stainless Steel Solenoid Valves Market Regional Analysis/Insights
The stainless steel solenoid valves market is analysed and market size insights and trends are provided by country, type, operating type and end user as referenced above.
The countries covered in the stainless steel solenoid valves market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific will dominate the stainless steel solenoid valves market due to rising demand for clean and safe drinking water, attracting significant investment. Furthermore, because of their demographics, developing economies such as China and India are more appealing to solenoid manufacturers. This factor is fuelling the region's growth even more.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Stainless Steel Solenoid Valves Market Share Analysis
The stainless steel solenoid valves market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to stainless steel solenoid valves market.
Some of the major players operating in the stainless steel solenoid valves market are:
- CEME S.p.A. (Italy)
- CKD Corporation (Japan)
- ODE S.r.l. (Italy)
- KANEKO SANGYO Co., Ltd. (Japan)
- Takasago Electric Industry Co., Ltd. (Japan)
- Curtiss-wright Corporation (U.S.)
- ALFA LAVAL (Sweden)
- IMI plc (U.K.)
- LESER GmbH & Co.KG (Germany)
- The Weir Group PLC (Scotland)
- Forbes Marshall (India)
- Bosch Rexroth AG (Germany)
- Spirax Sarco Limited (U.K.)
- Danfoss A/S (Denmark)
- GSR Ventiltechnik GmbH & Co. KG (Germany)
- ASCO Valve, Inc. (U.S.)
- Christian Bürkert GmbH & Co. KG (Germany)
- KANEKO SANGYO Co., Ltd. (Japan),
SKU-