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By 2028,the Global Electromechanical Solenoid Valves Market Size is Estimated to be USD 5398.3 Million

A Electromechanical Solenoid Valve is an electromechanically operated valve. Solenoid Valve is used to control the fluid automatic based components, belonging to the actuator; the valve is controlled by an electric current through a solenoid: in the case of a two-port valve the flow is switched on or off; in the case of a three-port valve, the outflow is switched between the two outlet ports. Multiple Solenoid Valves can be placed together on a manifold.

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Due to COVID-19 pandemic, the global Electromechanical Solenoid Valves market size is estimated to be worth US$ 4311.5 million in 2021 and is forecast to a readjusted size of USD 5398.3 million by 2028 with a CAGR of 3.3% during forecast period 2022-2028.

On the basis of type, the Solenoid Valves market has been segmented into Direct-acting Type, Sub-step Direct-acting Type and Pilot-type. The Sub-step Direct-acting Type segment is estimated to register the highest CAGR, in terms of value, of the overall Solenoid Valves market. The growth of the Direct-acting Type segment is expected to continue during the forecast period due to the increasing demand for home appliance and automotive application.

On the basis of application, the Solenoid Valves market has been segmented into Home Appliance, Automobile, General Industry, Automation and others. The Automation segment is projected to dominate the Solenoid Valves market during the forecast period. The dominance of the Home Appliance segment can be attributed to the increasing usage of Solenoid Valves.

Globally, the Solenoid Valves industry market is low concentrated as the manufacturing technology of Solenoid Valves is relatively mature. And some enterprises, like Emerson, Kendrion, etc. are well-known for the wonderful performance of their Solenoid Valves.

The Asia Pacific is expected to be the fastest-growing market over the forecast period owing to extensive usage in the home appliance and automotive field. This can primarily be attributed to the considerable Chinese market, which contributes significantly to global volume as well as revenue generation. Although average selling prices are lower in the Asia Pacific, high demand is expected to result in sizable market revenue over the next six years.

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