The market for Direct actuated solenoid valve is forecast to reach $639.2 million by 2025, growing at a CAGR of 6.8% from 2020 to 2025. The significant deployment of different types of valves including ball valve, gate valve, butterfly valve, hydraulic valve, and pressure control valve in waste water treatment is analysed to be the key driving factor of the market. The significant adoption of industrial automation, alongside the increased investments is further escalating the market growth rate.
Brass is analysed to hold the highest share in the Direct Actuated Solenoid Valve Market. The significant market share is majorly attributed to the increasing adoption of brass solenoid valves as they are best suited for most non-aggressive and non-corrosive applications. Brass exhibits high thermal conductivity compared to other materials such as stainless steel. The manufacturing costs incurred with the brass are low as the brass material is easier to machine than stainless steel. All these factors together contribute to the growth of the brass material in the direct actuated solenoid valve market.
By End user
The direct actuated solenoid valves are deployed in almost every end user industry. However, the industrial segment is analysed to hold the highest market share and is set to grow at highest CAGR of 7.60% during the forecast period 2020-2025. The significant growth is majorly attributed to the high deployment of the valves in industrial automation alongside the increasing investments. In April 2018, the manufacturing giant ABB announced plans to invest $108.5 million to open new industrial automation centre in Austria. Water treatment is also analysed to grow at significant rate during the forecast period owing to the high deployment of direct actuated solenoid valves in the water treatment plans. In 2019, Delhi Jal Board has approved setting up of 106-MGD water treatment plant (WTP) in India, thereby helping to meet the demand for drinking water in the city. These projects are set to escalate the market growth rate during the forecast period 2020-2025.
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Geography – Segment Analysis
North America is analysed to be the dominant region with a market share of 35.70% followed by APAC and Europe. This is majorly attributed to the large industrial base coupled with the significant deployment of direct actuated solenoid valves in almost every end user industry. The significant expansions in the food and beverage industries in North America region is set to boost the market growth rate. In January 2020, Conagra announced plans to invest $106 million for a 65,000-square-foot expansion and equipment upgrades in their processing facility in U.S. In February 2020, Seaboard Foods announced the expansion and equipment upgrades of the processing facility in U.S with an investment of $100M. APAC is analysed to grow at significant rate during the forecast period majorly attributed to the large automotive manufacturing base and many other industries.
Drivers – Direct actuated solenoid valve market
The significant shift towards renewable energy for power generation
Renewable energy is no longer considered a niche technology, with many countries and energy companies adopting clean energy projects. As stated by climate action organization there are 5 major renewable energy projects across the globe including TuNur project, Asian Renewable Energy Hub, Grand Inga Hydroelectric Project, Tidal Lagoon Cardiff, and Gansu Wind Farm Project. Therefore the significant shift towards the renewable energy for power generation coupled with deployment of the direct actuated solenoid valves is analysed to be a key driving factor in the market.
Requirement of treatment of water
The significant deployment of solenoid valves in the waste water treatment plants is set to drive the market during the forecast period. As stated by NRDC, around 80% of wastewater is dumped into the environment, polluting majority of rivers, lakes, seas and others. As the water pollution causing severe threats to environment as well as human life, there is a dire need for treatment of water and the significant employment of these valves in the water treatment is set to escalate the market growth rate. Major waste water treating companies such as Suez has stated that it able to treat 7.5 Billion litres of safe drinking water produced in SUEZ-run treatment plants every day in India. Therefore the factors are set to elevate the market growth rate.
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Challenges – Direct actuated solenoid valve market
Key market players in the direct solenoid valves market often face the challenge of technological failure. Sometimes due to power failure or uneven pressure, the direct solenoid valves may not function and lead to large scale industrial loss, thereby hindering its adoption in the large scale industries. This factor is analysed to hinder the market growth rate.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Direct actuated solenoid valve market. Direct actuated solenoid valve driver market is expected to be dominated by major companies such as ASCO Valve, Inc., Christian Bürkert GmbH & Co. KG, Curtiss-Wright Corporation, Danfoss A/S, GSR Ventiltechnik GmbH & Co. KG among others.
In order to increase the accuracy of off-highway vehicles fluid control, Eaton has launched a compact, simplified solenoid valve in April 2019.
Industrial is analysed to grow at highest rate of 7.6% during the forecast period. This is majorly attributed to the growth in the industrial automation coupled with the significant deployment of the valves.
North America is dominating the market as of 2019, owing to the significant presence of the large industrial base in the region.
The significant shift towards renewable energy coupled with the deployment of the direct actuated solenoid valves is set to drive the market during the forecast period 2020-2025.
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