Data Bridge Market Research analyses that the Brass Solenoid Valves Market was valued at USD 1.21 billion in 2021 and is expected to reach the value of USD 1.63 billion by 2029, at a CAGR of 3.80% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
The brass solenoid valves market is being driven by rising demand for valves from the pharmaceutical industry as a result of the COVID-19 pandemic, a growing focus on the development of smart cities globally, a growing need for connected networks to maintain and monitor industrial equipment, and a surge in the requirement for establishing new nuclear power plants and revamping existing ones.
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Opportunity
Investments in power generation plants
As solenoid valves are critical components of the power generation industry, increased investment in increasing power generation capacity will be a market driving factor. Furthermore, the drop in oil and gas prices, as well as the increased decommissioning of thermal power generation plants, are having a significant impact on the solenoid valves market.
Growth in wastewater treatment industries
Furthermore, the growing demand for wastewater treatment industries, as well as the increasing adoption of solenoid valves in a variety of process industries, are creating ample opportunities for the growth of the brass solenoid valves market during the forecast period.
Some of the major players operating in the brass solenoid valves market are:
- Emerson Electric Co (U.S.)
- Schlumberger Limited (U.S.)
- General Electric (U.S.)
- Curtiss-wright Corporation (U.S.)
- ALFA LAVAL (Sweden)
- IMI plc (U.K.)
- LESER GmbH & Co.KG (Germany)
- The Weir Group PLC (Scotland)
- Forbes Marshall (India)
- Bosch Rexroth AG (Germany)
- Spirax Sarco Limited (U.K.)
- Danfoss A/S (Denmark)
- GSR Ventiltechnik GmbH & Co. KG (Germany)
- ASCO Valve, Inc. (U.S.)
- Christian Bürkert GmbH & Co. KG (Germany)
- KANEKO SANGYO Co., Ltd. (Japan),
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Brass Solenoid Valves Market Regional Analysis/Insights
The brass solenoid valves market is analysed and market size insights and trends are provided by country, type, operating type and end user as referenced above.
The countries covered in the brass solenoid valves market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the solenoid valves market and will continue to do so because of the presence of major key players in this region.
Asia-Pacific, on the other hand, is expected to have the highest growth rate during the forecast period due to increased investment in water treatment plants and a growing emphasis in this region on providing clean water.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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