The increased incorporation of valves in different phases of the extraction process in the chemical and petrochemical industries could be a major driver for the solenoid valves market globally. The continuous retrofitting works in the aforementioned industries would significantly drive the market. Additionally, the rising need for automation in the power industry is expected to drive the market during the forecast period. Solenoid valves are significant components to the power generation industry, and so the growing investment in expanding power generation capacity will also be a market driving factor.

In China, the rising investment in the power generation industry, which depends on renewable energy sources, is the second largest industry for solenoid valves. The solenoid valve is a significant component in these industries and aids the control of liquids and gases.