Global Refrigerant Solenoid Valves Market – Introduction
Refrigerant solenoid valves are a crucial component as it controls the flow of refrigerant within the air conditioning system and refrigeration. It is an electromechanical valve used for control of liquid or gas flow. These valves are increasingly used in large scale industries due to usage of large refrigerators and air conditioners. Asia Pacific is expected to be a growing region for the refrigerant solenoid valves market owing to the growing demand for air conditioning systems and refrigeration systems. Rising investment in refrigerant solenoid valves across various industries in developing economies across the Asia Pacific region, development in manufacturing technologies, lower production costs of valves, growing global economies, and lower power consumption are the major driving factors of the market.
Global Refrigerant Solenoid Valves Market – Competition Landscape
The refrigerant solenoid valves market includes several international and domestic players. Market players are adopting different strategies such as product portfolio expansion and regional expansion to reduce the impact of growing competition on business.
- In April 2019, Kendrion successfully launched the certified KUHNKE fluid isolation solenoid valves type 97 series with EPDM sealing, compliant with German KTW and elastomer guidelines for direct contact with drinking water. The company is focusing on development of products for different applications to cater to expanding market demand.
- In April 2019, Parker Hannifin Corporation announced the acquisition of LORD Corporation, a private company involved in manufacturing advanced adhesives, coatings, and specialty materials, and also vibration and motion control technologies. This strategic acquisition is expected to help the company expand its business.
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Kendrion was founded in 1928 and has headquarters in Malente Germany. KendrionKuhnke Automation is involved in developing, manufacturing, and distributing controllers and actuators based on fluid, solenoid, and control technologies. The company’s main markets are machinery and appliances, medical and analytical equipment, aircraft interior, and energy generation/distribution
Christian Bürkert GmbH & Co. KG
Christian Bürkert GmbH & Co. KG was founded in 1946 by Christian Bürkert and has headquarters in Ingelfingen, Germany. The company offers influid technology, industrial measurement and control technology, systems for controlling and measuring gases and fluids from individual sensors and complete automation solutions. It operates across the globe with its 2,800 employees. The company’s product portfolio includes process and control valves, solenoid valves, sensors, transmitters & controllers, pneumatics and process interfaces, MFC/MFM, MicroFluidics, and solenoid control valves.
IMI Norgren Herion Private Limited
IMI Norgren Herion Private Limited was established in 1927 in Colorado and is known for its motion and fluid control technology solutions. The company offers a wide range of products for different industries such as commercial vehicles, energy, food & beverage, industrial automation, life science, Industrial Internet of Things, mobile pneumatics, and rail. It has sales and service networks in around 75 countries and technical centers in Germany, USA, China, and U.K.
Some of the other key players operating in the global refrigerant solenoid valves market include SMC Corporation, Saginomiya Seisakusho, Inc., Parker Hannifin Corp., and Danfoss Industries Ltd.
Global Refrigerant Solenoid Valves Market – Dynamics
Rapid increase in demand for air conditioners and refrigeration systems
The refrigerant solenoid valve is a vital component in any refrigeration system. Knowing how it works helps to ensure system benefits, such as leak prevention, energy efficiency, and overall refrigeration system protection. Rapid increase in adoption of air conditioners and refrigeration systems in residential and commercial sectors is anticipated to boost the demand for refrigerant solenoid valves.
Advanced Refrigeration Technology
The cryogen free dilution refrigerators market is anticipated to grow at a significant rate during the forecast period. This technology works without valves and is expected to hinder the growth of the refrigerant solenoid valves market. Cryogen refrigerant technology is preferred in several industries such as nuclear power and computer science.
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Global Refrigerant Solenoid Valves Market – Segmentation
The global refrigerant solenoid valves market can be segmented based on:
- Insulation Class
Global Refrigerant Solenoid Valves Market, by Types
Based on types, the refrigerant solenoid valves market can be divided into:
- Direct Acting
- Pilot Operated
Global Refrigerant Solenoid Valves Market, by Insulation Class
Based on insulation class, the refrigerant solenoid valves market can be divided into:
- Class F
- Class H
- Class N
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