India Solenoid Valves Market Size Set to Grow at Steady CAGR of 3.3% to Value of USD 690 Million by 2030

Published | 20 June 2024

India Solenoid Valves Market is growing due to the rising use of solenoid valves as they are compact and cost-effective, offer automatic flow control, prevent leaks, and consume less power compared to alternative mechanisms.

BlueWeave Consulting, a leading strategic consulting, and Market research firm, in its recent study, estimated the India Solenoid Valves Market size by value at USD 551.4 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Solenoid Valves Market size to expand at a CAGR of 3.3% reaching a value of USD 689.9 million in 2030. Several key factors are boosting the India Solenoid Valves Market. The demand for solenoid valves is increasing in water treatment plants, renewable energy projects, medical ventilators, food processing industries, and washing machines. In addition, solenoid valves play a prominent role in the automobile sector, for tasks like controlling valve timing and managing emissions. This helps engines run more efficiently. Notably, as infrastructure and industries expand across India, the demand for solenoid valves continues to rise.

Opportunity – Shift toward Natural Gas and Solar Energy

The India Solenoid Valves Market is growing rapidly due to their automatic flow control, compact size, leak-proof design, affordability, and energy efficiency. The shift towards natural gas and solar energy in the power industry increases demand for these valves in power generation. In addition, the expanding deployment of renewable energy, especially solar PV, further boosts the market, positioning solenoid valves for significant growth.

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Impact of Escalating Geopolitical Tensions on India Solenoid Valves Market  

The conflict between Russia and Ukraine, rising political tensions, and increasing oil prices have impacted the India Solenoid Valve Market. Despite the challenges, the Indian economy has shown strength and overcome the challenges through sensible fiscal policies and fiscal stimulus measures. As India continues to adapt its fiscal policy in the wake of COVID-19, it is important to strike a balance between fiscal and monetary policies to minimize the negative impact on economic growth and market volatility. These geopolitical changes present both challenges and opportunities for the India Solenoid Valves Market, which requires a coherent strategy to support growth in a changing world.

India Solenoid Valves Market  

Segmental Coverage

India Solenoid Valves Market – By Body Material

Based on body material, India Solenoid Valves Market is divided into Stainless Steel, Brass, Aluminum, and Plastic segments. Stainless steel is the largest body material segment in the India Solenoid Valves Market. Solenoid valves in the food industry are chosen for their resilience in wet, corrosive environments and wide temperature ranges. Constructed from stainless steel, they resist contamination. The core and plugnut, needing good magnetic properties like iron but are prone to corrosion, often employ stainless steel.

India Solenoid Valves Market – By Valve Design

Based on valve design, India Solenoid Valves Market is divided into 2-way, 3-way, 4-way, and 5-way segments. The 2-way valve design dominates the market, favored in process industries. The 2-way valves, along with actuators, positioners, and sensors, are crucial for automation. They regulate processes like sawdust control, hydraulic lifts, and process heating. Investments in process industries have boosted their adoption. Advances in electric current and magnetic field use enable automatic flow control, compact design, leak prevention, cost-efficiency, and lower power usage, driving their popularity.

Competitive Landscape

India Solenoid Valves Market is fiercely competitive. Major companies in the Market include Parker Hannifin, Rotex Automation Limited, Aira Euro Automation, Mac Valves, Shakti Fluid Power, Yuco Valves India Private Limited, Festo India, Legris India Private Limited, and Clippard India Private Limited. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the India Solenoid Valves Market.

Don’t miss the business opportunity India Solenoid Valves Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the India Solenoid Valves Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Solenoid Valves Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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