Solenoid Valves Market

Solenoid Valves Market Synopsis

Solenoid Valves Market Size Was Valued at USD 5.44 Billion in 2023, and is Projected to Reach USD 7.20 Billion by 2032, Growing at a CAGR of 3.16% From 2024-2032.

Solenoid valves market term is used to describe the industry that includes electric valves used to regulate the flow of liquid and gases in different industries, commercial buildings, and homes. These valves operate on control of an electromagnetic solenoid which opens and closes the valve. Solenoid valves are used in applications that demand the reliable control of fluid with little or no human intervention as in automation, air conditioning, fluid power as well as automotive industries.

The solenoid valves market has seen a steady rise in growth based on raising need for automation and control systems in various applications. Solenoid valves are applied in flow control of fluids and gases in many applications like pneumatic, hydraulic or even fluid control systems. Industries are automizing, smart manufacturing has emerged, and there is a need for constant flow and pressure that can only be controlled using a solenoid valve. Furthermore, changes in materials, methods of manufacture and electric control systems have improved the performance and reliability of solenoid valves, all of which has boosted this market.

The market is very broad and has found its place in such sectors as automotive, oil and gas, food and beverages, medical, water and wastewater treatment, and HVAC. With developments in tow and increasing utilization of automated systems in these industries, the case for solenoid valves that can deliver fast, accurate, and energy saving solutions has not only arisen but is considered crucial. The growing consciousness in relation to energy saving and environmental issues has also created an opportunity to manufacture the solenoid valves with high durability and energy efficiency, which have directly attributed for increasing popularity.

Some of the factors which are boosting the market are innovations in solenoid valves technology, IoT incorporation for monitoring and controlling the solenoid valves, high usage of solenoid valves in manufacturing sectors like robotics and more. Also, the ever-evolving demographic change, specifically in the emerging markets, triggered by urbanization together with industrialization plus the ever increasing demand for infrastructural development is expected to propel the growth of the solenoid valves market further. Since the expectation of automation and systems enhancement prevails in various industries, solenoid valves are expected to be pivotal features in the future.

Solenoid Valves Market Outlook, 2023 and 2032: Future Outlook

Solenoid Valves Market Trend Analysis

Trend: Integration with IoT for Smart Control Systems

and one of the top trends in the solenoid valves market is the integration with the internet of things IoT. Due to growing trends of automation in industries, there has been rising demand for remote control and monitoring of the solenoid valves. Solenoid valves that are connected to IoT enable timely data and predictive analytics of the equipment, enabling controllers to monitor, diagnose, and manage large equipment with greater efficiency without necessarily interrupting their operation. This technology allows increased awareness of valve performance characteristics and acts to avoid the occurrence of a system failure that could result from abnormally operating valves.

With industries like Manufacture, Agriculture, and Energy going for smart control systems integration of IoT has become a priority in solenoid valve production. Solenoid valves can be connected to the internet of things where they get incorporated into larger automation systems, giving more precise control and decisions based on data outcomes. This trend is in line with the systems of Industry 4.0 where systems and connected devices are fully integrated in enhancing the operations of industries to enhance the solenoid valves that are used in the applications.

Opportunity: Growth in Industrial Automation

The fastest-growing factor is industrial automation, and it remains one of the biggest opportunities in the solenoid valves market. The use of solenoid valves has therefore been shaped by the advancement of industries toward robotization and digitalization to fulfill the rising demand of the valves for automation. These valves are of peculiar importance in fields requiring precise control of fluids and gases for operations, including robotic processes, conveyance systems, and automated production lines. The increasing trend in automation in manufacturing and industries such as automotive and food industries acts as a main growth opportunity for solenoid valve manufactures.

Solenoid valves are widely used as control valves in industrial processes; as these processes become more intricate, the need for more and better solenoid valves – that is, accurate and energy-efficient – will undoubtedly grow. Moreover, further developments in solenoid valves including high speed, increased life span, high;temp; environments pose growth opportunities. Those manufacturers that are capable of creating and supplying valves, which correspond to the strict requirements of contemporary industrial systems, will be the key beneficiaries of this tendency. This is because the solenoid valve market is still in its growth phase of development and the automation is ear-marked to venture into new and virgin markets.

Driver: Industrialization and Urbanization in Emerging Markets

The major factor fueling the solenoid valves market is the increasing industrial and urban growth particularly in the developing countries. The Asian Pacific, America and Middle Eastern countries are currently undertaking rapid developments in infrastructure and industrial growth and, therefore, they require fluid and gas control systems. Today, solenoid valves are used in numerous applications ranging from HVAC systems to water treatment and automation systems and with the industrialization and modernization of various regions, the demand for good quality solenoid valves which includes this development is required.

A growing interest in new industries, primarily automotive, construction and energy in the particular developing countries increases the need for the solenoid valves for accuracy in the control of systems. These regions are also experiencing growing investments in smart manufacturing processes and automation systems that drives further the demands for superior solenoid valves that capable of IoT connectivity and energy efficiency. In addition to this, there will always be a growing need for the solenoid valves due to the expansion of these markets coupled with the growing emphasis the word is placing on infrastructure and energy efficiency.

Restraints: High Initial Cost of Solenoid Valves

A major factor which has dampened growth in the solenoid valves market is the relatively high initial cost of these valves. Long-term, solenoid valves are more efficient in current consumption and reliable as compared to motorized valves but they involve high initial costs especially the high special solenoid valves designed for industrial automation and other critical processes. This cost factor may make the solenoid valves unaffordable, especially to small and medium sized enterprises, which may prefer to work with a limited operational budget to the advantage that the solenoid valve offers.

One of the challenges noted in some areas especially the developing economies is high cost of importing good quality solenoid valves. However, both the constant cost of maintenance and expenses needed to repair solenoid valves in big systems are also potential pulls off factor when it come to utilizing these technologies within business. While the benefits that are derived from the use of solenoid valves may be realized over a long-term period, the high cost the valves represent a major constraint to some users.

Solenoid Valves Market Segment Analysis

Solenoid Valves Market Segmented on the basis of Type, Function, Size, Actuation, Application, End User.

By Type

o   Direct-Operated

o   Pilot-Operated

By Application

o   Pneumatic Control

o   Hydraulic Control

o   Fluid Control

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Type, Direct-Operated segment is expected to dominate the market during the forecast period

Direct-Operated: Direct-operated solenoid valves employ a direct action of solenoid to operate the piston thus opening or closing the valve. Mainly, these valves are designed for small flow applications where short response time is critical. Low density, easy fabrication, low cost, and simplicity of design make them suitable for a variety of applications including HVAC and automation systems.

Pilot-Operated: Solenoid valves that are pilot operated, use force from a pilot valve to control the flow of the main valve. These valves are designed for; large flow rates and they have capabilities to withstand higher pressures in comparison with direct-operated valves. They are used in oil and Natural gas industries, water treatment industries and in most manufacturing industries that need large flow control.

By Application, Pneumatic Control segment expected to held the largest share 

Pneumatic Control: Pneumatic control systems employing solenoid valves are predominantly utilized to control the air pressure or flow rate in an actuator. It is utilized in applications such as robotics up to packaging machinery. Solenoid valves afford a measure of control over the supply of air which means that pneumatic systems run smoothly and effectively.

Hydraulic Control: In hydraulic control system, solenoid valves are used to control the amount of hydraulic fluids that is a key factor in determining the efficiency of containers, machineries and equipments. These valves are widely used in construction, earth moving machines, manufacturing industries and automotive industries where high pressure and flow rate works important role. Fluid Control: Solenoid valves are also important components in fluid control systems through which use is made for controlling the movement of fluids. These valves find application in water treatment plants, food processing industries, and chemical industries wherein, the amount of the fluids flow influences the overall efficiency of the system.

Solenoid Valves Market Regional Insights

North America is Expected to Dominate the Market Over the Forecast period 

North America is at present the most influential region in the solenoid valves market due to the developed manufacturing base across the region along with the increasing demand in Automation and Control systems across various sectors. The automotive industry in car manufacturing countries has grown remarkably coupled with aerospace and related chemicals industries that depend largely on solenoid valves in the management of fluid and gases. Some of the other factors that has contributed to growth in this region include the connection of solenoid valves to IoT and other smart and andriod solutions.

In addition, solenoid valves are now being widely used in North America particularly because energy intensive systems are now focusing on energy savings by using efficient technologies such as solenoid valves. The key solenoid valve manufacturers are located in the North America and they are still investing in their RD more which also supports the idea of North America’s market dominance. This trend is likely to continue because organizations in the region are increasingly focusing on automation and efficient business processes as well as integration of smart systems.

Solenoid Valves Market Share, by Geography, 2023 (%)

Active Key Players in the Solenoid Valves Market

o   Emerson Electric Co. (USA)

o   Parker Hannifin Corporation (USA)

o   SMC Corporation (Japan)

o   Danfoss A/S (Denmark)

o   Honeywell International Inc. (USA)

o   Burkert Fluid Control Systems (Germany)

o   Festo AG & Co. KG (Germany)

o   Asco Valve, LLC (USA)

o   Norgren Ltd (UK)

o   Rotex Automation Limited (India)

o   Spirax Sarco Limited (UK)

o   Omega Engineering Inc. (USA)

o   Other key Players

Key Industry Developments in the Solenoid Valves Market

In August 2023, SMC Corporation launched its new product, stainless steel 2-port solenoid valves. This product is expected to be used in drinking water applications.

Global Solenoid Valves Market Scope