The report "Microfluidic Components Market by Product (Valve, Solenoid Valve, Check Valve, Nozzle, Tubing, Micropump, Microneedle, Shuttle Valve), Industry (Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, Oil & Gas) - Global Forecast to 2024", is projected to reach USD 6.1 billion by 2024 from USD 3.3 billion in 2019, at a CAGR of 12.7%.
Browse 91 market data Tables and 24 Figures spread through 163 Pages and in-depth TOC on "Microfluidic Components Market by Product (Valve, Solenoid Valve, Check Valve, Nozzle, Tubing, Micropump, Microneedle, Shuttle Valve), Industry (Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, Oil & Gas) - Global Forecast to 2024 "
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The flow & pressure sensors segment is estimated to account for the largest market share in 2019. The large share of this segment is attributed to their diverse application in pressure sensing, pH measurement, microfluidics conductivity measurement, and microfluidic biosensors.
The solenoid valves segment is expected to grow at the highest CAGR during the forecast period. The growth in this segment can be attributed to factors such as the increasing application areas in the automotive industry, the shift towards renewable sources for power generation, growing investments in various industries, and increasing government regulations on end-use industries across developing economies.
The APAC market is projected to register the highest growth during the forecast period. Factors such as increasing industrialization, investments in water infrastructure, growth in various industries (such as chemicals, power & energy, and aerospace), increasing number of infrastructural development projects (especially in China and India), rising standard of living, and growing urbanization are some of the key factors driving the growth of the microfluidic components market in the APAC region.
The prominent players in the microfluidic components market are Parker Hannifin Corporation (US), IDEX Corporation (US), Fluigent SA (France), Staiger GmbH & Co. KG (Germany), SMC Corporation (Japan), Camozzi Automation Spa Societŕ Unipersonale (Italy), Aignep s.p.a. (Italy), FIM Valvole Srl (Italy), Humphrey Products Corporation (US), The Lee Company (US), Dolomite Microfluidics (UK), Cellix Ltd. (Ireland), Elveflow (France), and Christian Bürkert GmbH & Co. KG (Germany).
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