HOME Press Releases Solenoid Valve Market worth 4.41 Billion USD by 2022



Solenoid Valve Market worth 4.41 Billion USD by 2022


The report "Solenoid valve Market by Body Material (Stainless Steel, Brass, Aluminum, and Plastic), Valve Design (2-way, 3-way, 4-way, and 5-way), Industry, and Geography - Global Forecast to 2022", The solenoid valve market is expected to reach USD 4.41 Billion by 2022, at a CAGR of 3.54% between 2016 and 2022. This market registered a shipment of 12.94 Million units in 2015 and is expected to reach 20.29 Million units by 2022, at a CAGR of 6.35% between 2016 and 2022. The major factors driving the growth of this market include the growing investments in various industries across developing economies such as China and India and greater preference for increasing process automation worldwide thereby decreasing production costs.

Browse 74 market data tables with 96 figures spread through 170 pages and in-depth TOC on "Solenoid valve Market - Global Forecast to 2022"
http://www.marketsandmarkets.com/Market-Reports/solenoid-valve-market-26318408.html
Early buyers will receive 10% customization on reports.

The chemical & petrochemical industry in the solenoid valve market held the largest share in 2015

The solenoid valve market on the basis of industry vertical has been segmented into oil & gas, chemical & petrochemical, water & wastewater,  food & beverages, pharmaceuticals, power generation, automobile, medical, and others. Among the various industries considered for the study, the chemical & petrochemical industry held the largest share in 2015. This market is expected to grow at a significant rate between 2016 and 2022, driven by the growing installations of solenoid valves in different phases of oil & gas extraction processes. The continuous retrofit works in this industry would significantly contribute to this market.

The market for 3-way solenoid valves is expected to grow rapidly during the forecast period

The solenoid valve market based on valve design type has been segmented into 2-way, 3-way, and 4-way solenoid valves. Among these valves, the 3-way solenoid valves are expected to witness the highest growth during the forecast period. The major reasons for the growth of this market include growing usage of these valves in water & wastewater treatment plants.

The solenoid valve market in North America is expected to hold the largest share of the global solenoid valve market by 2022

The solenoid valve market in North America held the largest share during the forecast period, followed by the markets in Europe and APAC. The market in North America is expected to grow at the highest rate between 2016 and 2022. This growth is majorly attributed to the increasing usage of solenoid valves in various process industries where these industries are currently upgrading their existing facilities with the deployment of automation technologies. These automation technologies help in providing greater performance, less manpower, and high efficiencies, thereby decreasing the overall production costs.

The major players in the solenoid valve market are ASCO Valve, Inc. (U.S.), Christian Bürkert GmbH & Co. KG (Germany), Curtiss-Wright Corporation (U.S.), Danfoss A/S (Denmark), GSR Ventiltechnik GmbH & Co. KG (Germany), IMI plc (U.K.), Parker Hannifin Corporation (U.S.), Rotex Controls B.V. (The Netherlands), SMC Corporation (Japan), and The Lee Company (U.S.) among others.

About MarketsandMarkets

MarketsandMarkets is the world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:
Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports