The report "Solenoid valve Market by Body Material (Stainless Steel, Brass, Aluminum, and Plastic), Valve Design (2-way, 3-way, 4-way, and 5-way), Industry, and Geography - Global Forecast to 2022", The solenoid valve market is expected to reach USD 4.41 Billion by 2022, at a CAGR of 3.54% between 2016 and 2022. This market registered a shipment of 12.94 Million units in 2015 and is expected to reach 20.29 Million units by 2022, at a CAGR of 6.35% between 2016 and 2022. The major factors driving the growth of this market include the growing investments in various industries across developing economies such as China and India and greater preference for increasing process automation worldwide thereby decreasing production costs.
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The chemical & petrochemical industry in the solenoid valve market held the largest share in 2015
The solenoid valve market on the basis of industry vertical has been segmentecontinue reading →