( PR4US.com | Press Release | 2017-06-16 09:39:59 )
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"
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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 global solenoid valve market was valued at USD 3.44 Billion in 2015 and is expected reach USD 4.41 Billion by 2022, at a CAGR of 3.54% during the forecast period. The market is expected to register a shipment of 20.29 Million units by 2022 from 12.94 Million units in 2015. The base year considered for the study is 2015 and the market size has been forecast between 2016 and 2022.
The main objectives of the report include:
•To define, describe, and forecast the global solenoid valve market segmented on the basis of body material, valve design type
•To forecast the size of the market segments with respect to four main geographies
•To provide the market statistics with detailed classifications and split in terms of value and volume
•To provide detailed information regarding the key factors influencing the growth of the market
•To strategically profile the key players operating in this market and comprehensively analyze their market rankings and core
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The research methodology used to estimate and forecast the solenoid valve market begins with gathering data on key vendor revenues through secondary research. The top-down and bottom-up approaches have been used to estimate and validate the size of the global market.
The research methodology also includes the study of annual and financial reports of the top market players as well as interviews of industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both, quantitative and qualitative) on the market. All percentage shares, splits, and breakdowns have been determined by using secondary sources and verified through primary sources.
The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
Also, the retrofit works in various phases of oil & gas extraction process further contribute to this growing market.
The solenoid valve ecosystem comprises valve manufacturers such as 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) among others; component manufacturers such as CEME S.p.A. (Italy), CKD Corporation (Japan), ODE S.r.l. (Italy), KANEKO SANGYO Co., Ltd. (Japan), and Takasago Electric Industry Co., Ltd. (Japan) among others.
The distributors include MAC Valves (U.S.), Applied Industrial Technologies (U.S.), Nison Consultants Pvt. Ltd. (India), and Yashima Export & Import Company (Japan) among others.
The solenoid valve market in the Americas region held the highest market size, in terms of value in 2015, while the market in APAC is expected to exhibit the fastest-growth rate between 2016 and 2022.
The factors contributing to this growth include growing importance for providing safe and clean drinking water worldwide, which is leading to the increasing investments in water treatment plants thereby creating a demand for utilization of solenoid valves.
The oil & gas, chemical & petrochemical, water & wastewater, food & beverages, power generation, pharmaceuticals, automotive, and medical are some of the key industry verticals where solenoid valves are utilized.
The chemical & petrochemical industry held the largest market share in 2015, followed by oil & gas, water & wastewater, power generation, food & beverages, and automotive industries. The major reasons for this growth include the highest deployment of solenoid valves in this industry.
The solenoid valve market in North America is expected to hold the largest share of the global solenoid valve market by 2022
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.
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