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Global Oil Pressure Control Solenoid Valve Market to Reach USD 5 Billion by 2026, Driven by the Increasing Applications in the End-Use Industries

According to a new report by EMR titled, ‘Global Oil Pressure Control Solenoid Valve Market Report and Forecast 2021-2026’, the global market of oil pressure control solenoid valve is expected to grow at a CAGR of 4% to reach a value of USD 5 billion in the forecast period of 2021-2026.

The global oil pressure control solenoid valve industry is anticipated to grow at a moderate pace in the forecast period owing to factors like the rising applications of the product in end-use industries. Improvements in the design structures of the valves have led to this shift. Increased automation in almost every sector is also acting as a catalyst for the market growth. A rise in favourable government regulations is further expected to fuel the market growth.

With the onset of COVID-19, the global oil and gas industry started to taper off, reaching all-time low production values. On July 15, 2021, the Huawei Oil & Gas Summit 2021 – exploring ‘Data to Barrel’ – was successfully hosted online. The summit gathered together global customers, industry partners, and thought leaders — including representatives from the Abu Dhabi National Oil Company (ADNOC), Schlumberger SIS, and the former Chief Information Officer (CIO) of French giant TOTAL (OTCMKTS: TTFNF) — to share their experiences of helping oil and gas companies increase profits while cutting costs, creating added value through digital transformation. Working with partners, Huawei planned and built a computing AI platform for an industry customer to implement AI training and big data analytics. This has, in turn, led to an increase in both oil and gas reserves and in production, aiding the oil pressure control solenoid valve industry. 

Market Analysis by Design, Material Type, End Use, and Region:

  • The market based on design can be divided into 2-way, 3-way, 4-way, and 5-way valves.
  • The major material types of oil pressure control solenoid valve include aluminium, brass, stainless steel, and plastic.
  • The major end-use sectors in the industry are oil and gas, chemical and petrochemical, food and beverage, pharmaceutical and biotechnology, power generation, and water and wastewater treatment, among others. 
  • The regional markets for oil pressure control solenoid valve include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The oil pressure control solenoid valve industry is being driven by the rising demand for the product from the end-use industries.
  • The rapidly changing designs and structures of the valves are further aiding the market growth. 
  • The rise in automation of various sectors is also propelling the market growth.
  • The market is expected to witness a further expansion in the coming years due to a huge increase in favourable government regulations, owing to safety precautions. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for oil pressure control solenoid valve for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the designs, material types, end uses, and major regions markets of oil pressure control solenoid valve.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global oil pressure control solenoid valve market are Mitsubishi Electric Corporation, Rotex Automation, Siemens Aktiengesellschaft, SMC Corporation of America, Parker Hannifin Corp., and Burkert Contromatic Pvt. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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