The global cryogenic valves market reached a value of US$ 1.88 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 2.43 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cryogenic valves are designed to be utilized in air separation, chemical, or liquified natural gas (LNG) plants. They open in high-pressure conditions and allow the free flow of the gases until the pressure reduces. They assist in reducing the heat that enters the valve from outside, thereby keeping the packing gland temperature above 0 degrees Celsius and avoiding the stem and parts above the bonnet from freezing or frosting. At present, they are widely available in a variety of shapes and sizes to function under different pressure ranges.
A considerable rise in the utilization of cryogenic valves in the oil and gas industry represents one of the key factors strengthening the growth of the market. This can also be accredited to the growing recovery of oil production activities, which is further contributing to an increase in the production capacities of petrochemicals across the globe. Cryogenic valves are employed to store and transport cryogenic gases safely and efficiently. They are mainly designed for suitable integrity pressure protection and emergency shutdowns in temperatures as low as -196 degrees Celsius. Apart from this, cryogenic valves are effective, relatively inexpensive and they do not affect the color, taste, and flavors of the food. As a result, they are increasingly being employed in the food and beverage (F&B) industry. This, coupled with the burgeoning F&B sector, is supporting the market growth. Furthermore, cryogenic gases are extensively utilized for cryosurgery in the healthcare industry, which is positively influencing the sales of cryogenic valves around the world. Besides this, the market is also driven by product applications in rock concerts and theater stages worldwide.
The publisher provides an analysis of the key trends in each sub-segment of the global cryogenic valves market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, gas and end use industry.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bac Valves, Bray International Inc., Cryofab, Emerson Electric Co., Flowserve Corporation, Habonim, Herose GmbH, L&T Valves Limited (Larsen & Toubro Limited), Parker-Hannifin Corporation, Powell Valves, Samson Aktiengesellschaft, Schlumberger Limited, The Weir Group PLC and Velan Inc.
Cryogenic valves are designed to be utilized in air separation, chemical, or liquified natural gas (LNG) plants. They open in high-pressure conditions and allow the free flow of the gases until the pressure reduces. They assist in reducing the heat that enters the valve from outside, thereby keeping the packing gland temperature above 0 degrees Celsius and avoiding the stem and parts above the bonnet from freezing or frosting. At present, they are widely available in a variety of shapes and sizes to function under different pressure ranges.
Cryogenic Valves Market Trends:
A considerable rise in the utilization of cryogenic valves in the oil and gas industry represents one of the key factors strengthening the growth of the market. This can also be accredited to the growing recovery of oil production activities, which is further contributing to an increase in the production capacities of petrochemicals across the globe. Cryogenic valves are employed to store and transport cryogenic gases safely and efficiently. They are mainly designed for suitable integrity pressure protection and emergency shutdowns in temperatures as low as -196 degrees Celsius. Apart from this, cryogenic valves are effective, relatively inexpensive and they do not affect the color, taste, and flavors of the food. As a result, they are increasingly being employed in the food and beverage (F&B) industry. This, coupled with the burgeoning F&B sector, is supporting the market growth. Furthermore, cryogenic gases are extensively utilized for cryosurgery in the healthcare industry, which is positively influencing the sales of cryogenic valves around the world. Besides this, the market is also driven by product applications in rock concerts and theater stages worldwide.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global cryogenic valves market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, gas and end use industry.
Breakup by Product:
- Ball Valves
- Check Valves
- Gate Valves
- Globe Valves
- Others
Breakup by Gas:
- Liquid Nitrogen
- Liquid Helium
- Hydrogen
- Oxygen
- Others
Breakup by End Use Industry:
- Chemical
- Oil and Gas
- Energy and Power
- Food and Beverages
- Medical
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bac Valves, Bray International Inc., Cryofab, Emerson Electric Co., Flowserve Corporation, Habonim, Herose GmbH, L&T Valves Limited (Larsen & Toubro Limited), Parker-Hannifin Corporation, Powell Valves, Samson Aktiengesellschaft, Schlumberger Limited, The Weir Group PLC and Velan Inc.
Key Questions Answered in This Report:
- How has the global cryogenic valves market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global cryogenic valves market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the gas?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global cryogenic valves market and who are the key players?
- What is the degree of competition in the industry?
Frequently Asked Questions about the Global Cryogenic Valves Market
What is the estimated value of the Global Cryogenic Valves Market?
What is the growth rate of the Global Cryogenic Valves Market?
What is the forecasted size of the Global Cryogenic Valves Market?
Who are the key companies in the Global Cryogenic Valves Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 1.88 Billion |
| Forecasted Market Value ( USD | $ 2.43 Billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Cryogenic Valves Market
6 Market Breakup by Product
7 Market Breakup by Gas
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bac Valves
- Bray International Inc.
- Cryofab
- Emerson Electric Co.
- Flowserve Corporation
- Habonim
- Herose GmbH
- L&T Valves Limited (Larsen & Toubro Limited)
- Parker-Hannifin Corporation
- Powell Valves
- Samson Aktiengesellschaft
- Schlumberger Limited
- The Weir Group PLC
- Velan Inc.
Methodology
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