Miniature Solenoid Valves Market - Forecast(2021 - 2026)

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Miniature Solenoid Valves Market Overview

The global Miniature Solenoid Valves Market is estimated to surpass $1.5 billion by 2026 growing at an estimated CAGR of more than 9.9% during the forecast period 2021 to 2026. Solenoid valves are employed as control elements for 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. These valves can be controlled 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 data. 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: “Miniature Solenoid Valves– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Miniature 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.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands and Others), APAC(China, Japan India, SK, Australia, Indonesia and Others), South America(Brazil, Argentina, Chile, Colombia and others), and RoW (Middle East and Africa).

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 Miniature Solenoid Valves in this sector.
  • Countries have started increasingly deploying their renewable energy sector; and accordingly, in various countries the capacities of Solar PV is increasing year on year. Therefore, the booming solar energy sector is poised to boost the market for control valves.

Miniature Solenoid Valves Market, By Geography, 2020

Miniature Solenoid Valves Market

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Miniature Solenoid Valves Market Segment Analysis - By Type - Segment Analysis

Two Way solenoid valves is the key segment in the market with 42.3% 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. Usages 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.

Miniature Solenoid Valves Market Segment Analysis - By End Use Industry

The automotive sector is a fast-growing segment with a CAGR of 12.4% through 2026 in the Miniature Solenoid Valves driven by significant adoption in luxury and high-end vehicles as well as in manufacturing processes. 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.

Miniature Solenoid Valves Market Segment Analysis - By Geography

APAC remains the major market for Miniature Solenoid Valve at share of 34.5% in 2020 driven by significant automotive production as well as manufacturing sector in the region. The solenoid valves today aren’t the same as they used to be, because the environment in which industries are now operating has been changed. Solenoid valves market has changed significantly which has led towards the development of new technologies. The demand for solenoid valves is 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. The majority of the countries have started increasingly deploying their renewable energy sector; and accordingly, in various countries the capacities of Solar PV is increasing year on year. Therefore, the booming solar energy sector is poised to boost the market for control valves. Rising urbanization, increasing awareness regarding flow control has catalysed the growth of solenoid market. Advancement in technology related to electro-mechanical devices, electric current efficiency and magnetic field strength will drive the miniature solenoid valve market.

Miniature 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 a 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 measure, the companies all over the world are deploying solenoid valves to prevent 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 machinery 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 like the U.K, South Africa, Japan, America and others are taking initiatives to increase the capacity of existing power plants and have sanctioned projects to construct new power plants. 

The Egyptian government plans to double their power generation capacity. In order to achieve this target Egypt is building new plant facilities which includes construction of a nuclear power plant with the aid of Russian technology and expertise. A new solar power plant is being built in Siwa which would generate 10 MW of power, wherein the Egyptian Electricity Holding Company has signed a contract with ACWA power to build 2 GW renewable energy projects.

Miniature Solenoid Valves Market Challenges

Uncertainty in Oil and Gas Industry

The U.S, Canada, South America were once the major customers of Oil & Gas produced by the Middle East. Increase in the production of Oil & gas in these countries in turn is hampering the exports of Oil & Gas in the Middle East. The production of O&G in Middle East has not reduced with decrease in demand. The drop in Oil & Gas price has forced the production companies to reduce the investment in the sector. Many Oil & Gas drilling projects have been canceled. Total number of operating rigs has reduced drastically in the U.S. This is a major constraint faced by the solenoid valve manufacturers as Oil & Gas industry is one of the key customers of solenoid valves. Solenoid valves are used in equipment to drill an Oil Well, extracting and transmission of Oil & Gas to the refining plant; control the flow of Oil & Gas and so on. Hence the prolonged uncertainty in the crude oil prices might result in the reduction or cancellation of new projects thereby reducing the demand for solenoid valves used in this particular industry.

Miniature Solenoid Valves Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Miniature Solenoid Valves. Asco (Emerson), Parker, IMI PLC (Norgren), Eaton, Denso Corp., Bosch Rexroth, Danfoss A/S, Burkert Fluid Control Systems, ITT Inc., and Curtiss-Wright are considered to be the key players of the Miniature Solenoid Valves

Acquisitions/Technology Launches/Partnerships

  • In August 2019, Ross Controls Company had announced the acquisition of Pneumatrol Ltd for strengthening and expansion of its valve business.
  • 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.

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1. Miniature Solenoid Valves Overview
    1.1 Definitions and Scope
2. Miniature Solenoid Valves   - Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends By End Use  Industry
    2.3 Key trends segmented by Geography
3. Miniature Solenoid Valves – 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. Miniature Solenoid Valves – 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. Miniature Solenoid Valves – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Miniature Solenoid Valves - 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. Miniature Solenoid Valves – By Strategic Analysis (Market Size -$Million/Billion)
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Product Life Cycle/Market Life Cycle Analysis
8. Miniature Solenoid Valves – By Protocol (Market Size -$Million/Billion)
    8.1 Direct Acting
    8.2 Manual Reset
    8.3 Pilot Operated
9. Miniature Solenoid Valves – By Type (Market Size -$Million/Billion)
    9.1 Two Way
    9.2 Three Way
    9.3 Four Way
    9.4 Others
10. Miniature Solenoid Valves – By End Use Industry (Market Size -$Million/Billion)
    10.1 Automotive
    10.2 Aerospace and Defense
    10.3  Oil and Gas
    10.4 Chemical
    10.5 Water and Wastewater
    10.6 Mining and metal
    10.7 Paper and Pulp
    10.8 Transportation and Logistics
    10.9 Railways 
    10.10 Food and Beverage
    10.11 Power Generation
    10.12 Consumer Electronics
    10.13 Healthcare
    10.14 Infrastructure
    10.15 Agriculture
    10.16 General Manufacturing
    10.17 Others
11. Miniature Solenoid Valves - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Netherlands
        11.2.8 Others
    11.3 APAC
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia
        11.3.6 Indonesia
        11.3.7 Malaysia
        11.3.8 Others
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Others
    11.5 RoW
        11.5.1 Middle East
        11.5.2 Africa
12. Miniature Solenoid Valves - Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Miniature Solenoid Valves – Industry Competitive Landscape (Premium)
    13.1Market Share – Global
    13.2Market Share by Region
    13.3 Market Share By Type
14. Miniature Solenoid Valves – Key Company List by Country Premium (Premium)
15. Miniature Solenoid Valves - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10