CHICAGO, UNITED STATES, September 20, 2023/EINPresswire.com/ — 𝐂𝐡𝐢𝐧𝐚 𝐬𝐨𝐥𝐞𝐧𝐨𝐢𝐝 𝐯𝐚𝐥𝐯𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 is projected to witness a forward leap in its revenue from 𝐔𝐒$ 𝟓𝟓𝟓 𝐌𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏 to 𝐔𝐒$ 𝟏,𝟎𝟓𝟕.𝟐 𝐌𝐧 𝐛𝐲 𝟐𝟎𝟑𝟎. The market is registering a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟒% during the forecast period from 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟎.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/china-solenoid-valve-market
The increased use of solenoid valves in the water treatment and beverage industries, as well as an increase in government initiatives and product localization, are some of the factors driving the growth of the China solenoid market. Today, gases, slurries, liquids, vapors, and other substances are directed, regulated, and controlled by solenoid valves in process industries.
Increasing industrial automation along with rising demand for efficient alternatives for manual controlling of fluid flow in the industries have been instrumental in the growing demand and adoption of solenoid valves in China. Apart from that, the wastage of raw materials, including water, oil, and chemicals due to pipe leakage is another key reason for the rising adoption of solenoid valves in the manufacturing industry. For instance, according to an article by Elsevier N.V. in 2019, it was reported that 80% of the operating water tunnels in southwest China have cracking and water leakage issues.
China is the major producer of PVC in the world, according to S&P Global Inc. Additionally, 96.61 million tons of steel were produced by the Chinese steel business GMK Center, a huge increase over the previous year. These components are frequently utilized as raw materials to make solenoid valves. The substantial market potential for solenoid valves in China is due to the widespread availability of these raw materials.
In addition, the growth of the chemical industry, a rise in foreign investment in the Chinese industry, and the widespread use of solenoid valves in the chemical, food & beverage, pharmaceutical, and other industries are boosting the rate of uptake of these valves in the Chinese market. For instance, solenoid valves are used to automate the control of medical devices like oxygen concentrators, compression therapy devices, therapeutic support surfaces, and dialysis equipment.
𝐎𝐢𝐥 𝐚𝐧𝐝 𝐆𝐚𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐂𝐚𝐩𝐭𝐮𝐫𝐞𝐝 𝐀𝐛𝐨𝐮𝐭 𝟑𝟎% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
With more than 30% of the market share in 2021, the oil & gas category retained the lion’s share of the industry. The highest use of solenoid valves in this industry is credited as the main driver of this segment’s growth.
Chinese consumers consumed 15.5 million barrels of oil per day in the Asia-Pacific area last year, according to British Petroleum (BP). The region’s thriving oil and gas industry will present a wide range of chances for the solenoid valve market to expand.
The technologies that handle the problems posed by low-temperature situations must be considered when selecting solenoid valves for extremely cold, remote areas. By doing this, it can ensure the long-term success of oil and gas activities. The ASCO Series 381 valve, which offers dependable operation in highly hostile, corrosive, and cold environments, including those encountered on offshore and near-shore oil rigs, is one example of a device that satisfies these requirements.
𝐒𝐭𝐚𝐢𝐧𝐥𝐞𝐬𝐬 𝐒𝐭𝐞𝐞𝐥 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐒𝐚𝐥𝐞𝐬 𝐨𝐟 𝐔𝐒$ 𝟓𝟎𝟎 𝐌𝐢𝐥𝐥𝐢𝐨𝐧
By the end of 2028, the stainless-steel segment will surpass USD 500.0 million. Some of the main factors contributing to this segment’s sizeable market share include better chemical resistance and material that is highly wear, temperature, and pressure resistant.
China produced approximately 29.40 million metric tons of crude stainless steel in 2019. China has consistently expanded its overall stainless steel production volume in recent years. Therefore, the market’s expansion will be fueled by the availability of stainless steel in China.
According to market research findings from Astute Analytica, stainless steel is the most commonly used material in the manufacturing of solenoid valves. This is due to its resistance to contaminants, which is achieved through its composition of iron, chromium, and other elements.
Stainless steel solenoid valves also work better and have a longer life span than brass valves. Because they have minimal friction, some stainless steel varieties are frequently used for solenoid valve plunger and guide components.
𝐓𝐨𝐩 𝟓 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐇𝐨𝐥𝐝 𝟑𝟎% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
The market for solenoid valves is very cutthroat. The leading competitors in the market have seen significant consolidation in the current market environment. The primary contributing cause for the dominance of the main players is the adoption of inorganic growth techniques, such as mergers and acquisitions of other significant competitors to consolidate the market share.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/china-solenoid-valve-market
𝐀 𝐬𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐦𝐞𝐧𝐭𝐢𝐨𝐧𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐬:
• Airtac
• ASCO Valve Inc.
• BASF-YPC Company Limited
• CKD Corporation
• Danfoss Industries Limited
• Darhor Technology Co., Limited
• Curtiss-Wright Corporation
• Festo Corporation
• Fenghua Shengbang Machinery Factory
• IMI Precision Engineering
• Emerson Electric Co.
• Juliang Valve
• Parker Hannifin Corporation
• Zhejiang Yongjiu
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐂𝐡𝐢𝐧𝐚 𝐬𝐨𝐥𝐞𝐧𝐨𝐢𝐝 𝐯𝐚𝐥𝐯𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐓𝐲𝐩𝐞, 𝐅𝐮𝐧𝐜𝐭𝐢𝐨𝐧, 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥, 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧, 𝐌𝐞𝐝𝐢𝐚, 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲.
𝐁𝐲 𝐓𝐲𝐩𝐞
• Direct-acting valves
• Pilot-operated valves
𝐁𝐲 𝐅𝐮𝐧𝐜𝐭𝐢𝐨𝐧
• 2-way
• 3-way
• 4-way
• 5-way
𝐁𝐲 𝐌𝐚𝐭𝐞𝐫𝐢𝐚𝐥
• Stainless Steel
• Aluminum
• Plastic
• Others
𝐁𝐲 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧
• Normally open
• Normally closed
• Universal
𝐁𝐲 𝐌𝐞𝐝𝐢𝐚
• Air
• Gas
• Water
𝐁𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
• Oil & Gas
• Chemical & Petrochemical
• F&B
• Power Generation
• Pharmaceuticals
• Automotive
• Medical
• Others
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/china-solenoid-valve-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Aamir Beg
Astute Analytica
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