Global Solenoid Valve Market: Market Research by Knowledge Sourcing Intelligence
Global Solenoid valve market is projected to witness the growth at a decent CAGR during the forecast period. The key factor driving this growth is increasing the application of solenoid valves across different industry verticals. The solenoid valve is used in fluid power pneumatic and hydraulic systems, paintball industry, household water purifiers, and automatic irrigation sprinkler systems among others. The continuous technological development and product innovation have resulted in the development of customized valves, micro-miniature valves, and pinch valves among others which further augments the solenoid valve market growth. Moreover, the declining price and low power consumption have accelerated its demand over the substitutes. The major factor driving the solenoid valve market growth is expanding applications of solenoid valve across different industries due to focus on solen...