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India Solenoid Valves Market - Forecast(2024 - 2030)
India Solenoid Valves Market Overview
The India Solenoid Valves is
estimated to surpass $604 million mark by 2026 growing at an estimated CAGR of
more than 5.2% during the forecast period 2021 to 2026. Solenoid valves are
employed as control elements for fluid power controlling both aqueous and gaseous fluids.
Solenoid valves are primarily used as controlling devices in systems and motors
where liquid and gas flow rate needs to be regulated through safe switching. These valves which can be
internally piloted by passing electric current through the solenoid, thus creating a
magnetic field to open or close the plunger mechanism. According to Enerdata, countries like China,
the U.S., India and Russia are the highest consumers of energy as per the 2019.
The increasing industrial growth coupled with the rising population accounts
for the increase in energy consumption. This trend includes a huge number of
investments into the power sector, which will propel the market for solenoid
valves.
Report Coverage
The
report: “ India Solenoid Valves– Forecast (2021-2026)”,
by IndustryARC covers an in-depth analysis of the following segments of the
Solenoid Valves.
By Type: Two Way,
Three Way, Four Way and Others.
By Protocol: Direct Acting, Manual Reset, Pilot Operated.
By End Use Industry: Aerospace and Defense, Automotive, Oil and Gas,
Chemical, Water and Waste Water, Metal and Mining, Paper and Pulp, Railways,
Transportation and Logistics, Food and Beverage, Power Generation, Consumer
Electronics, Healthcare, Infrastructure, Agriculture, General Manufacturing and
Others.
Key Takeaways
- Usages of Solenoid valves are rising sharply because of their automatic flow control capability, size, leak block, lower price and lower power consumption mechanism.
- There
is a possibility that the future of power industry is run by natural gas and
solar energy. Valves are used for various purposes in the power generation
industry. Hence there is significant opportunity for Solenoid Valves in this
sector.
- Countries have started increasingly deploying their renewable energy sector; and accordingly, in various countries the capacities of the Solar PV is increasing year on year. Therefore, the booming solar energy sector is poised to boost the market for control valves
India Solenoid Valves Market, By Type
For More Details on This Report - Request for Sample
India Solenoid Valves Market Segment Analysis - By Type - Segment Analysis
Two Way solenoid valves is the key segment in the market with 38.5% share
in 2020 due to their adoption in the process industries. Equipment such as
valves, actuators, positioners, sensors, and so on is vital components of
automation. Solenoid valves are mostly used in sawdust control, hydraulic
lifts, log misting systems, process heating and so on. Moreover, huge
investment in process industries has further fueled the solenoid valve
application across the various industries. Usage of Solenoid valves with
improved electric current and magnetic field usage are rising sharply because
of their automatic flow control capability, size, leak block, lower price and
lower power consumption mechanism.
India Solenoid Valves Market Segment Analysis - By End Use Industry
The automotive sector is a fast growing segment with a CAGR of 9.4%
over 2021-2026 in the Solenoid Valves driven by significant adoption in luxury and
high end vehicles as well as in manufacturing processes. The bounceback post
low sales in 2019 will be a major market driver for the automotive sector. The
power generation industry is among the most prominent end user of solenoid
valves. The industry is surging rapidly with the growing need of energy.
Chemical Industry has also highly dominated the solenoid valves market.
Solenoid valves play an important role in this industry and they are used in
applications such as for safety shut off of toxic or purified gas, directed
flow of chemicals and gases and so on. The pulp and paper industry is adapting
process automation into its operations. It has become the prime focus of the
industry to maximize operational efficiency and productivity. Demand for
solenoid valves has been increased at a very high rate and it is due to change
in technology, new product lines and diversification of components. Solenoid
valve is the elementary base for the advancing process industry. Over the past
decade, the market has been experiencing a rapid upsurge in terms of
technological advancements, increasing automation, and integrating the entire
value chain of the process industry.
India Solenoid Valves Market Drivers
Growing Concerns Regarding the Safety of Plants
In the past there have been many catastrophic disasters in critical
industries such as mining, oil & gas, nuclear power industry and so on. For
example Fukushima nuclear accident in Japan and Deep-water Horizon oil spill in
the Gulf of Mexico, Soma mine disaster in Turkey and Pike River Mine disaster
in New Zealand are some of the industrial accidents recorded in recent times.
Such accidents occurring in various industries have raised the question on the
reliability and safety of a plant. Solenoid valves can be used as a safety
measure so as to mitigate the effect of a potential disaster due to their
strong electric current and magnetic field. For example in a manufacturing
plant, a sensor along with an solenoid actuated valve can be installed so that
in case of an emergency the activation of the solenoid can send a mass
notification to the employees to vacate the plant or a mine, solenoid valves
can be used to monitor temperature and atmospheric conditions so that in case
of an emergency, such as a explosion within a mine, automatic supply of water
to put of fire can be controlled with the help of solenoid valve. In case of
chemical and nuclear power industry, solenoid valves can be used to monitor
leakage of harmful chemicals and radioactive materials and can shut off the
process to prevent further leakage of these materials. As preventive measures
companies all over the world are deploying solenoid valves to prevent such
catastrophic disasters. The aforementioned factors are expected to result in
the growth of the market in the near future.
Rising Number of Power Plants and growing adoption of Solenoid Valves
In today’s technologically advanced
environment where the need for automation is essential in every field, power is
a very essential and critical requirement to operate the equipment and
machineries required in automation of a particular process. In the past few
decades the number of industries and players in each industry has increased
substantially demanding huge requirement of power. Coping with scarcity of power,
the governments of various countries including India are taking initiatives to
increase the capacity of existing power plants and have sanctioned projects to
construct new power plants.
India Solenoid Valves Market Challenges
Lack of Design Options
One of the major challenge of solenoid valves is
technological failure. In some situations such as power loss and uneven
pressure, the valves may not function properly. However, OEM’s test the product
before the release of the product into the market. Additionally, end user
industries face a major problem with solenoid valves as foreign matter gets
accumulated within core tubes of valves and obstruct operation due to
contaminated fluids and gases.
India Solenoid Valves Market Landscape
Product Launches, acquisitions and R&D activities are key strategies adopted by players in the Indian Solenoid Valve market. India Solenoid Valve top 10 companies include Maniks, Jekon Controls, AIRA Euro Automation Pvt Ltd, Asten Industries, Builtronics India Pvt Ltd, Rotex Automation, Uflow Automation, Falcon Valves & Flanges Pvt Ltd, Bavaria Fluid Systems GmbH and among others.
Acquisitions/Technology Launches/Partnerships
- In August 2019, Ross Controls Company which is a global company including India had announced the acquisition of Pneumatrol Ltd for strengthening and expansion of its valve business, thereby driving the market.
- In January 2019, Finland based company Metso had announced the acquisition of Rotex Manufacturers and Engineers Pvt Ltd which manufacturers valves including solenoid valves. This acquisition is intended to assist Metso in expanding its valve operations in India.
Related Reports
Automotive Solenoid Valve Market -
Forecast(2021 - 2026)
Report Code: ATR 0060
For more Automation and Instrumentation related reports, please click here
1. India Solenoid Valves Market Overview
1.1 Definitions and Scope
2. India Solenoid Valves Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By End Use Industry
3. India Solenoid Valves Market – Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. India Solenoid Valves Market – Industry Market Entry Scenario Premium (Premium)
4.1 Regulatory Scenario
4.2 Ease of Doing Business Index
4.3 Case Studies
4.4 Customer Analysis
5. India Solenoid Valves Market – Startup Company Scenario (Premium)
5.1 Venture Capital and Funding Scenario
5.2 Startup Company Analysis
6. India Solenoid Valves Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. India Solenoid Valves Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
8. India Solenoid Valves Market – By Type (Market Size -$Million/Billion)
8.1 Two Way
8.2 Three Way
8.3 Four Way
8.4 Others
9. India Solenoid Valves Market – By End Use Industry (Market Size -$Million/Billion)
9.1 Oil and Gas
9.2 Aerospace and Defense
9.3 Automotive
9.4 Chemical
9.5 Water and Wastewater
9.6 Metal and Mining
9.7 Paper and Pulp
9.8 Railways
9.9 Transportation and Logistics
9.10 Food and Beverage
9.11 Power Generation
9.12 Consumer Electronics
9.13 Healthcare
9.14 Infrastructure
9.15 Agriculture
9.16 General Manufacturing
9.17 Others
10. India Solenoid Valves Market – By Protocol (Market Size -$Million/Billion)
10.1 Manual Reset
10.2 Direct Acting
10.3 Pilot Operated
11. India Solenoid Valves Market - Market Entropy
11.1 New product launches
11.2 M&A's, collaborations, JVs and partnerships
12. India Solenoid Valves Market – Industry Competitive Landscape (Premium)
12.1 Market Share – India
12.2 Market Share by Type
12.3 Market Share By End Use Industry
13. India Solenoid Valves Market – Key Company List by Country Premium (Premium)
14. India Solenoid Valves Market - Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10