CHICAGO, UNITED STATES, September 20, 2023/EINPresswire.com/ — ๐๐ก๐ข๐ง๐ ๐ฌ๐จ๐ฅ๐๐ง๐จ๐ข๐ ๐ฏ๐๐ฅ๐ฏ๐ ๐ฆ๐๐ซ๐ค๐๐ญ is projected to witness a forward leap in its revenue from ๐๐$ ๐๐๐ ๐๐ง ๐ข๐ง ๐๐๐๐ to ๐๐$ ๐,๐๐๐.๐ ๐๐ง ๐๐ฒ ๐๐๐๐. The market is registering a ๐๐๐๐ ๐จ๐ ๐.๐% during the forecast period from ๐๐๐๐ ๐ญ๐จ ๐๐๐๐.
๐๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- 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.
๐๐ข๐ฅ ๐๐ง๐ ๐๐๐ฌ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐๐ฉ๐ญ๐ฎ๐ซ๐๐ ๐๐๐จ๐ฎ๐ญ ๐๐% ๐จ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
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.
๐๐ญ๐๐ข๐ง๐ฅ๐๐ฌ๐ฌ ๐๐ญ๐๐๐ฅ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐๐๐ง๐๐ซ๐๐ญ๐ ๐๐๐ฅ๐๐ฌ ๐จ๐ ๐๐$ ๐๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง
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.
๐๐จ๐ฉ ๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐จ๐ฅ๐ ๐๐% ๐จ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐
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.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐จ ๐๐จ๐ซ๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/industry-report/china-solenoid-valve-market
๐ ๐ฌ๐๐ฅ๐๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ฆ๐๐ง๐ญ๐ข๐จ๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐๐ฌ:
โข Airtac
โข ASCO Valve Inc.
โข BASF-YPC Company Limited
โข CKD Corporation
โข Danfoss Industries Limited
โข Darhor Technology Co., Limited
โข Curtiss-Wright Corporation
โข Festo Corporation
โข Fenghua Shengbang Machinery Factory
โข IMI Precision Engineering
โข Emerson Electric Co.
โข Juliang Valve
โข Parker Hannifin Corporation
โข Zhejiang Yongjiu
โข Other Prominent Players
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ฎ๐ญ๐ฅ๐ข๐ง๐
๐๐ก๐ ๐๐ก๐ข๐ง๐ ๐ฌ๐จ๐ฅ๐๐ง๐จ๐ข๐ ๐ฏ๐๐ฅ๐ฏ๐๐ฌ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐จ๐๐ฎ๐ฌ๐๐ฌ ๐จ๐ง ๐๐ฒ๐ฉ๐, ๐ ๐ฎ๐ง๐๐ญ๐ข๐จ๐ง, ๐๐๐ญ๐๐ซ๐ข๐๐ฅ, ๐๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง, ๐๐๐๐ข๐, ๐๐ง๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ.
๐๐ฒ ๐๐ฒ๐ฉ๐
โข Direct-acting valves
โข Pilot-operated valves
๐๐ฒ ๐
๐ฎ๐ง๐๐ญ๐ข๐จ๐ง
โข 2-way
โข 3-way
โข 4-way
โข 5-way
๐๐ฒ ๐๐๐ญ๐๐ซ๐ข๐๐ฅ
โข Stainless Steel
โข Aluminum
โข Plastic
โข Others
๐๐ฒ ๐๐ฉ๐๐ซ๐๐ญ๐ข๐จ๐ง
โข Normally open
โข Normally closed
โข Universal
๐๐ฒ ๐๐๐๐ข๐
โข Air
โข Gas
โข Water
๐๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
โข Oil & Gas
โข Chemical & Petrochemical
โข F&B
โข Power Generation
โข Pharmaceuticals
โข Automotive
โข Medical
โข Others
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/china-solenoid-valve-market
๐๐๐จ๐ฎ๐ญ ๐๐ฌ๐ญ๐ฎ๐ญ๐ ๐๐ง๐๐ฅ๐ฒ๐ญ๐ข๐๐:
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