Global Solenoid Valves Market (2021 to 2026) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Solenoid Valves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Solenoid Valves Market is expected to grow at a CAGR of 5.39% over the forecast period 2021 to 2026.
- IMI Precision Engineering
- Danfoss Industries Ltd
- Curtiss Wright Corporation
- Emerson Electric Co.
- Parker Hannifin Corporation
- AirTAC International Group
- KANKEO SANGYO Co. Ltd
- Anshan Solenoid Valve Co. Ltd
- CEME SpA
- ABB Ltd
- Kendrion NV
- Peter Paul Electronics Co., Inc.
Key Market Trends
Food and Beverage Sector to Gain the Market Share
- Food grade solenoid valves and solenoid valve manifolds are used for many food handling applications, especially in beverage dispensing machines. Special requirements include food-grade seals and valve body materials (316 SS) for unaltered beverage taste. The solenoid valves are designed to resist adverse temperature, humidity, and corrosive conditions, which makes it the most preferred valves in the food and beverage industry. In order to last long, these valves are made up of stainless steel due to its contaminant resistant qualities.
- For instance, Custom Valves isolated technology with PTFE bellows is the perfect solenoid valve for their highly reliable espresso machine. In addition, Custom Valves designed a new food-grade valve based on a dialysis solenoid valve design, provided the customer with a small 12 VDC valve with an airtight valve body that protected the integrity of the wine.
- According to METI (Japan), in 2018, the sales revenue of the food and beverage retail trade in Japan reached around JPY 45.2 trillion, accounting for the largest sales revenue source of the retail trade sector in Japan. Also, as per the same source, the food and beverages sales in Japan's wholesale sector reached approximately JPY 50.6 trillion, representing one of the largest revenue sources of the Japanese wholesale trade sector. Besides, according to METI, in 2019, the production value of solenoid operated valves in Japan amounted to approximately JPY 50.23 billion, an increase from around JPY 42.8 billion in 2015.
Japan in Asia-Pacific is to Dominate the Market
- Japan is expected to stand as one of the fastest-growing markets for solenoid valve installations in Food and Beverage, Automotive, Chemical & Petrochemical, Power Generation, Oil and Gas, and Healthcare & Pharmaceutical, owing to revised environmental policies and stringent pollution monitoring practices employed by the country in recent years.
- For instance, according to METI & Statistics Bureau Japan, in 2019, the production value of solenoid-operated valves in Japan amounted to approximately 18.67 million kilograms, an increase from around 15.2 million kilograms in 2015.
- Also according to the same source, in 2019, the value of stainless steel solenoid valves produced in Japan amounted to approximately JPY 88.44 billion, an increase from around 67 billion yen in 2015. The market in the region is expected to expand at a significant rate during the forecast period owing to the presence of well-established domestic players.
- For example, companies like Parker Hannifin Corp's direct-acting 2-way, 2-position spool-type solenoid valves cover a wide range of flows up to 75 lpm (20 gpm) and pressures as high as 350 bar (5000 psi), with both normally-closed and normally-open options available. Parker's comprehensive selection of solenoid valves includes a broad range of types and configurations for all manner of applications across many industrial markets.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing adoption for solenoid valves in the water treatment and beverage industries
4.2.2 Ongoing shift to renewable energy-based projects to drive demand
4.3 Market Restraints
4.3.1 Dynamic nature of demand and cost reduction
4.4 Industry Stakeholder Analysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Solenoid Valves Market
4.7 Industry Standards & Regulations
5 TECHNOLOGY SNAPSHOT
5.1 Evolution of Solenoid valves and emerging applications in key verticals such as Automotive (Electric vehicles & Autonomous vehicles)
5.2 Major design and technical considerations
6 MARKET SEGMENTATION
6.1 By Type
6.2 By Size
6.3 By End-user Industry
6.4.1 North America
6.4.4 Rest of the World
7 COMPETITIVE LANDSCAPE
8 INVESTMENT ANALYSIS
9 MARKET OUTLOOK
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