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 solenoid valve manufacturers on product launches and customization option being offered by vendors for the different operating environments.
global solenoid valve market: market research by knowledge sourcing intelligence
Global Solenoid Valve Market Forecast

Global Solenoid Valve Market by Geography:
Geographically, solenoid valve market has been segmented into the Americas (North America and South America), Europe Middle East and Africa (Europe, and the Middle East and Africa), and Asia Pacific regions. North America accounted for the largest share of the solenoid valve market in terms of value in 2016 and will continue its dominance until the end of the forecast period. The robust economy, the presence of a large number of manufacturers, early adoption of technology, and a wide range of industries utilizing these valves for a range of applications are some of the key factors boosting the market growth. The market research provides a detailed analysis of global solenoid valve market on the basis of the various segment like- by geography, by end-user industry, etc.
global solenoid valve market: market research by knowledge sourcing intelligence
Global Solenoid Valve Market by Geography

Global Solenoid Valve Market by End user Industry:
By end user industry, global solenoid valve market is segmented into oil and gas, chemical, water and wastewater, food and beverage, automotive, healthcare, energy and power, and others. The chemical segment held the largest share of the global solenoid in 2016 and will continue to dominate over the forecast period. Stringent regulations for workers’ safety in industries such as oil and gas, chemical, construction, and mining, involving hazardous working environments is the major factor behind the dominance of the industrial segment. Healthcare segment is projected to witness the fastest growth between 2017 and 2022 due to rising usage of solenoid valves across medical devices applications. Increasing demand for automobiles is also contributing to the higher demand for these valves from the automotive industry.

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global solenoid valve market size
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In developing countries where voltage fluctuation is a major issue, demand for solenoid valve remains moderate due to repetitive failures.

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