Global Production Revenue Of Explosion Proof Solenoid Valve Was Estimated About 478.19 Million USD

By the end of 2016, the global production revenue of explosion proof solenoid valve was estimated about 478.19 million USD, grew from 3.1 billion USD at the end of 2011. As to the production volume, it is estimated that the global total production volume of explosion proof solenoid valve was about 66.5 million units, taking the products of major applications together. And it is forecasted that the global production revenue of explosion proof solenoid valve will reach about 422.11 million USD by the end of 2022.

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Global Explosion Proof Solenoid Valves Market by Manufacturers, Regions, Type and Application, Forecast to 2023

Global (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Explosion Proof Solenoid Valves Market 2018, Forecast to 2023

Worldwide, Europe is the largest market of explosion proof solenoid valve consumption value market, while China is the largest consumption volume market. It is estimated that Europe accounts for about 30% of the industry total revenue. After development of about two decades, China has become the largest consumption volume market of explosion proof solenoid valve. In 2016, China produces about 25.58% of the global total consumption volume. The market in other developing countries or regions, such as South America is becoming the most important emerging consumption market of solenoid valve. And the production technology and production scale of explosion proof solenoid valve in these regions are also developing quickly, partly driven by the capacity movement from developed countries.

On the forecast consumption market of explosion proof solenoid valve, the global total consumption volume is established to reach 493.95 million USD in 2017 and 586.06 million USD in 2022.

For the applications of explosion proof solenoid valve, products for Chemical industry, Petrochemical, Oil and gas and Gas pipe network are the main market driven engine for industry consumption volume. The demand of explosion proof solenoid valve on Chemical industry accounts for more than 30% of the market consumption volume.

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