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.

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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 competencies

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 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 solenoid valve market in North America is expected to hold the largest share of the global solenoid valve market by 2022

The solenoid valve market in North America held the largest share during the forecast period, followed by the markets in Europe and APAC. The market in North America is expected to grow at the highest rate between 2016 and 2022. This growth is majorly attributed to the increasing usage of solenoid valves in various process industries where these industries are currently upgrading their existing facilities with the deployment of automation technologies. These automation technologies help in providing greater performance, less manpower, and high efficiencies, thereby decreasing the overall production costs.

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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