The increasing significance of safe and clean drinking water worldwide is pushing investments in water treatment plants, thus generating demand for solenoid valves.
NEWARK, DE / ACCESSWIRE / July 16, 2024 / The United States solenoid valve industry value is forecast to total USD 1,060.6 million in 2024 and further increase at 5.2% CAGR during the assessment period. Sales in the nation are projected to total USD 1,763.4 million by 2034.
Direct-acting valves segment is set to dominate the United States industry through 2034. It held a value share of 58.9% by 2024. This can be attributed to their simplicity, cost-effectiveness, and other advantages.
Multiple factors are expected to stimulate sales growth in the United States during the forecast period. These include rapid industrial growth, high adoption of automation, and the growing popularity of electric vehicles.
Solenoid valves are witnessing significant demand across the United States. This is attributable to their adoption in several applications, including medical devices, irrigation systems, car engines, and wastewater plants.
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Industries across the United States are embracing automation technologies to enhance productivity and efficiency. This, in turn, is set to propel demand for solenoid valves as they are widely used for automation purposes.
Large investments are also being made in the United States to expand water and wastewater infrastructure. This will positively impact solenoid valve sales in the nation as they are often employed in water and wastewater treatment plants to control the flow of water and chemicals.
Another prominent factor boosting growth in the United States is the increasing oil and gas exploration and drilling activities. These valves are ideal choices for controlling the flow of various fluids in drilling, refining, and transportation processes.
The oil and gas sector is using these technologies to improve operational reliability as well as effectiveness. Due to their precise control, solenoid valves are essential components of fluid automation systems that guarantee security and efficient operation in a variety of industrial processes.
Key Takeaways from the Report
Revenue in the United States is set to increase at 5.2% CAGR through 2034.
By acting type, the direct-acting valves segment is projected to total USD 981 million by 2034.
By end-use, the oil and gas segment is set to hold a value share of 23.3% in 2024.
By design type, the 2-way valves segment is forecast to account for a share of 45.8% in 2024.
The South United States is predicted to account for a significant share of about 33.7% in 2034.
"The United States solenoid valve industry is driven by increasing demand for automation and process efficiency across various industries. As automation becomes more prevalent, there is a growing need for solenoid valves to control the flow of liquids and gasses in automated systems, ensuring precise and reliable operation. Industries such as manufacturing, automotive, pharmaceuticals, water and wastewater treatment, and oil and gas rely on solenoid valves to regulate fluid flow, pressure, and direction in a wide range of applications," says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Who is winning?
The United States solenoid valve industry is fragmented, with top players accounting for about 40% to 45% share. Key manufacturers of solenoid valves listed in the report include
Emerson Electric Co,
Parker Hannifin Corporation,
IMI Precision Engineering.,
Bürkert, SMC Corporation,
The Lee Company.,
Kendrion NV,
Eaton Corporation,
Danfoss A/S.
Key companies are investing in research and development to create innovation valves with enhanced features, including compatibility with automation technologies. They also adopt strategies like acquisitions, new facility establishments, partnerships, distribution agreements, and mergers to strengthen their footprint.
Industry Update:
In February 2024, Burkert introduced a new range of easy-to-service direct-acting solenoid valves designed for various applications, including commercial coffee machines and medical equipment that require precise control of liquids.
Get More Insights into the Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the United States solenoid valve industry, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the report is segmented based on acting type, design type, voltage rating, media, end-use, and region.
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Key Segments of Industry Report
By Acting Type:
As per acting type, the industry is bifurcated into direct-acting valves and pilot-operated valves.
By Design Type:
When it comes to design type, the report is segmented into:
2-way valves,
3-way valves,
4-way valves,
5-way valves.
By Voltage Ratings:
Based on voltage rating, there are two main categories, including DC and AC. The DC segment is further categorized into
6V,
12V,
24V,
120V,
240V,
while the AC segment is divided into:
24V,
120V,
240V,
480V.
By Media:
In terms of media, the report is fragmented into
air,
gas,
water.
By End-use:
Significant end-users listed in the report include:
oil and gas,
chemical and petrochemical,
food and beverages,
power generation,
automotive,
medical and healthcare,
water and wastewater,
agriculture,
general manufacturing,
aerospace and defense,
and others.
By Region:
Industry analysis has been carried out in key regions of:
United States,
West United States,
Midwest United States,
Northeast United States,
South United States.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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