Market Trends of Solenoid Valves Industry
This section covers the major market trends shaping the Solenoid Valves Market according to our research experts:
The Food and Beverage Sector is Anticipated to Hold a Major Market Share
- Food-grade solenoid valves and solenoid valve manifolds are used for many food handling applications, especially in beverage dispensing machines. Special requirements include food-grade seals and valve body materials (316 SS) for unaltered beverage taste. The solenoid valves are designed to resist adverse temperature, humidity, and corrosive conditions, making them the most preferred valves in the food and beverage industry. Due to its contaminant resistance, stainless steel is used to construct these valves to ensure their longevity.
- Solenoid valves are commonly used in the Meat and Abattoir Industry, Fruit and Vegetable Canneries, Fish Canneries, Salting Systems, Beverage (Soft Drinks, Wines, Spirits) and Ready Meal Industry, Dairy Industry, Oils and Fats Industry, Animal Feed Production Industry, and other Industries.
- According to OECD, between 2016 and 2022, the global production volume of meat increased from 317 million metric tons to over 345 million metric tons. Such an increase in meat production is likely to boost the growth of the studied market.
- Moreover, the use of pneumatic solenoid valves is predominantly witnessed in the food and beverage industry as they are much cleaner than hydraulic solenoid valves, which mainly use oil. They can be sealed to prevent any product from being trapped within its internal cavities. Thus, lessening the risk of product contamination.
- However, when processing animal fodder, cereals, and powdered milk, a dusty hazardous environment is produced. Dust, when mixed with air, can create a potentially explosive atmosphere that a spark or flame could ignite. There is always a chance that due to moisture or general usage, the solenoid coil may fail and generate an ignition source. So, for all hazardous environments, an ATEX-rated solenoid valve is advisable to be used.
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The Asia Pacific Region is Expected to Witness a High Market Growth
- Asia Pacific is expected to stand as one of the fastest-growing markets for solenoid valve installations in food & beverage, automotive, power generation, oil & gas, healthcare & pharmaceutical, owing to the rising population, a significant increase in demand for fuel and petroleum products, and the increasing disposable income of the middle-class population in the region.
- According to British Petroleum (BP), China is the largest oil consumer in the Asia-Pacific region, consuming 15.5 million barrels per day last year. In the same year, India consumed over 4.95 million barrels daily, making it the second-largest oil consumer in the region. Also, the oil production in the Asia Pacific region amounted to 7,428 thousand barrels per day in 2020 and 7,335 thousand barrels per day in 2021. Such a robust oil and gas sector in the region is anticipated to offer numerous opportunities for the growth of the solenoid valve market.
- Further, the rise in the production of automotive vehicles in the region is expected to drive the market. Electromechanically operated valves also comprise automotive solenoid valves. These valves regulate the rate at which fluid or air flows through automotive systems and motors. When electric current flows through the solenoid's wire, it produces a magnetic reaction, which is how solenoids transform electrical energy into mechanical energy. Solenoid valves are often used with hydraulic systems and power fluids..
- According to the Society of Indian Automobile Manufacturers (SIAM), India was one of the significant manufacturers in terms of global automobile production. The total number of automobiles produced in India during the last fiscal year was approximately 22.9 million units, an increase over the previous year. Further, according to the China Association of Automobile Manufacturers, 210,000 commercial vehicles and 996,000 passenger automobiles were produced in China as of April this year. The industry produced a total of 1.2 million automobiles during the month, a decrease of 46.2% from the previous month and 46.1% year-over-year.
- According to METI(Japan), in Japan's fabricated metals sector, the production volume of solenoid-operated valves increased by 3.2 thousand tonnes (+19.38%) last year compared to the previous year. As a result, Japan's output volume reached 19.66 thousand tonnes in 2021. Such a huge rise in the production volume hints at the possibility of an increase in the adoption of solenoid valves.
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