Report Code: A16061 | Pages: NA | Jul 2023 | 1576 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Solenoid Valves Market
Request Now !The solenoid valve market is experiencing significant growth and is anticipated to grow considerably in the next few years. Solenoid valve is used in domestic as well as industrial applications, and a wide range of solenoid valves is available in the market. c. Solenoid valves are extensively used in various applications owing to their property for controlling fluid flow automatically. They are essential components in water treatment, food processing, and oil refining.
Furthermore, they consume less energy, have low maintenance cost, and can be used for both vertical and horizontal operations. They are capable of operating at extreme temperatures and provide protection against leakage. Thus, efficiency, safety, and reliability of solenoid valves have increased their use in many industries. Major players in solenoid valve industry adopt advanced technologies to increase the efficiency and accuracy of the products to sustain the competition in the solenoid valve market.
Description
Solenoid valves are control units that either shut off or allow fluid flow. When supplied with electricity, a magnetic field builds up which pulls a plunger against the action of a spring. When the electricity supply is stopped, the plunger returns to its original position by spring action. Direct acting two-way valves are shut-off valves, whereas three-way valves have three port connections and two valve seats. Solenoid valves are one of the most commonly used components in fluidics.Â
COVID-19 Impact analysis
Top Impacting Factors
Rise in global population has increased demand for goods such as food, water, and beverages, as well as pharmaceuticals and health care products. The demand for fuel and petroleum products has increased substantially. These factors have driven the growth of solenoid valve market as they are extensively used in food processing, water treatment, and pharmaceutical industry. Increase in demand for fuel and petroleum products has fueled the use of solenoid valves in oil & gas industry. Furthermore, the availability of solenoid valves in various materials, sizes, and specifications has further increased the applicability of solenoid valves. However, the fluctuating prices of raw materials and energy are a major restraint on the growth of the solenoid valve market. Increase in purchasing power of middle-income population in developing countries has substantially boosted the demand for automobiles. Surge in demand for automobiles offers lucrative growth opportunities for the solenoid market as they are extensively used in automobiles for controlling the flow of automotive fluids such as oil, anti-skid brake fluid, and fuel.
Market Trends
Key Benefits of the Report
Solenoid Valves Market Report Highlights
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