About Miniature Solenoid Valve
Solenoid valve is an electrically activated valve which controls the flow of direction of air or liquid in fluid power system. It converts electrical energy into the mechanical energy by using a magnetic reaction. This magnetic reaction occurs when the electric current is passed through the wire in solenoid. It is used in pneumatic and hydraulic fluid systems and also in spool configurations. Further, the miniature solenoid valves are used in medical equipment, analytical instrumentation and industrial applications. These wide range of applications are propelling the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.9% |
The global Miniature Solenoid Valves market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Miniature Solenoid Valve market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Gevasol BV (Netherlands), International Polymer Solutions (United States), METAL WORK (United States), Parker Precision fluidics Division (United States), Univer Group (Mexico), VESTA (United States), AIGNEP (United States), Airtac Automatic Industrial (United States), ASCO Numatics Sirai Srl (United States) and Clippard (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are FIM Valvole (Italy) and GEMS SENSORS & CONTROLS (United States).
Segmentation Overview
AMA Research has segmented the market of Global Miniature Solenoid Valve market by Type (Universal style solenoid valves, Digital solenoid valves, Low energy digital solenoid valves and Classic style solenoid valves) and Region.
On the basis of geography, the market of Miniature Solenoid Valve has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Valve Design Type, the sub-segment i.e. 2-way will boost the Miniature Solenoid Valve market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Stainless Steel will boost the Miniature Solenoid Valve market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry vertical, the sub-segment i.e. Oil & Gas will boost the Miniature Solenoid Valve market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancements in the Miniaturization of Components
Market Growth Drivers:
Increasing Demand for Cost Effective Miniature Valves with Lower Leak Rates and Shifting towards the renewable sources of Power Generation
Challenges:
Presence of Major Players is leading to Increasing Competition
Restraints:
Technical Failures of Miniature Valves Due to the Presence of Dirt or Inaccurate Flow
Opportunities:
Increasing Investments in Research and Developments by Major Players and Increasing Adoption of Solenoid Valves in a Wide Range of Process Industries
Market Leaders and their expansionary development strategies
In December 2023, Automation technology and software leader Emerson (NYSE: EMR) has been selected by Korea’s SungEel HiTech Co., Ltd., a specialist in lithium-ion battery recycling, to provide advanced automation solutions in support of sustainable production and operational efficiency goals at the newest of three lithium-ion recycling plants located at SungEel’s Hydro Center complex
On 7 April 2022, Emerson increased its ASCO Series 090 series of tiny solenoid valves portfolio. A brand-new three-way Series 090 valve design is a part of the product line. The three-way arrangement makes it possible to manage gas in oxygen treatment, compression therapy, and gas analyzer devices in lighter and more space-efficient ways.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.