LONDON--(BUSINESS WIRE)--The global solenoid valves market is expected to grow by USD 596.20 million as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%. Request free sample pages
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The market is driven by technological advancements. In addition, the growing demand for customization is anticipated to boost the growth of the solenoid valves market.
Technological advancements are expected to be one of the major factors for the solenoid valves market growth during the forecast period. Vendors in the market are implementing new control designs and 3D simulation software as they help in reducing the time taken for prototyping. The software also reduces the need for manual testing, which reduces production costs. Furthermore, 3D simulation helps in improving the design functionalities and testing and analyzing the valve designs virtually. This will aid in reducing power consumption and improving control designs.
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Major Five Solenoid Valves Companies:
AMISCO Spa has its business operations under various segments, such as standard pneumatics, standard hydraulics, customized products, and connectors. The company offers 10 mm, 15 mm, and 22-30 mm standard solenoid valves as well as customized solenoid valve solutions.
Christian Burkert GmbH & Co. KG
Christian Burkert GmbH & Co. KG offers various type of solenoid valves for steam and water flow control. The company offers general purpose 2/2 solenoids, general purpose 3/2 solenoids, water solenoid valves, hazardous location solenoids, steam solenoid valves, high pressure solenoid valves, cryogenic solenoid valves, and associated accessories.
CKD Corp. operates its business through two segments, such as automatic machinery and component products. Various models of solenoid control valves offered by the company include pilot operated 3, 4, 5-port solenoid valves, ISO 5-port solenoid valves, direct acting 3-port solenoid valves, pilot operated 3-port solenoid valves, explosion-proof 3,5-port solenoid valves, and combined function 5-port solenoid valves. The company supplies these valves for various industries, including pharmaceutical industry, food and beverage industry, and automotive industry.
Curtiss-Wright Corp. has its business operations under various segments, such as commercial/industrial, defense, and power. The company offers MV SD298, a solenoid valve designed for pneumatic control applications in the business machine sector.
Danfoss AS operates its business through various segments, such as Danfoss Power Solutions, Danfoss Cooling, Danfoss Drives, and Danfoss Heating. Various solenoid valve models offered by the company includes EV220B (servo-operated solenoid valves), EV210A (direct-operated 2/2-way compact solenoid valves), EV210B (2/2-way direct-operated solenoid valves), EV220A (servo-operated 2/2-way solenoid valves), and EV224B (servo-operated 2/2-way solenoid valves for high pressure).
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Solenoid Valves Product Outlook (Revenue, USD mn, 2020-2024)
Solenoid Valves Regional Outlook (Revenue, USD mn, 2020-2024)
- North America
- South America
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