The Global Cryogenic Valve Market, valued at USD 3068.85 million in the year 2019 has been witnessing unprecedented growth in the last few years on the back of Mergers, Acquisitions and collaborations to link the existing gaps in their product offerings, the end market requirements and the geographical constraints, thereby creating large customer and partner base in the market. Also, the positive outlook of Cryogenic Valve industry can be credited to variables, such as, increasing global LNG trade, that has led to the demand for storage and transportation of cryogenic gases and surge in the demand of industrial gases.
Among the Type segment in the Cryogenic Valve market (Ball, Globe, Gate, Check, Others), Ball Type segment has been gaining popularity among various other segments and is expected to keep major market share in the forecast period owing to the fact that these valves possess better flow characteristics, are simple and quick to operate, and favoured for automation.
Based on Gas segment, LNG segment dominates the market share in year 2019 and is also expected to show dominance during the forecast period because of the rising demand of LNG from the emerging economies coupled with the growing investments from government towards the clean and secure environmental.
Based on End-User segment, Energy & Power segment holds the major share in the cryogenic valve market followed by Chemicals and Food & Beverage segment. Cryogenic valves are extensively utilized in the energy and power industry. These valves are installed for regasification, transportation, and liquefaction. The increase in the trade of LNG is a key driver of this segment.
The Asia Pacific region has the largest market share in year 2019 while it is estimated that Asia Pacific will remain dominant during the forecast period with China being the leading country in the region followed by Japan and South Korea. Factors fuelling the growth of the region are growing consumer awareness towards the use of cleaner energy fuel. Also, the fast emerging economies results in higher purchasing power of consumers.
Scope of the Report
- The report analyses the Cryogenic Valve market by Value.
- The report analyses the Cryogenic Valve Market by Type (Ball, Globe, Gate, Check, Others).
- The report assesses the Cryogenic Valve market by Gas (LNG, Oxygen, Nitrogen, Others).
- The report assesses the Cryogenic Valve market by End-User (Energy & Power, Chemicals, Food & Beverage, Healthcare, Others).
- The Global Cryogenic Valve Market has been analysed by Region (North America, Europe, Asia Pacific) and by Country (United States, Canada, Spain, France, Italy, United Kingdom, China, Japan, South Korea)
- Also, the attractiveness of the market has been presented by region, Type, Gas, End-User. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, key developments in the market and new product development. The companies analysed in the report include Flowserve Corporation, Weir Group, Emerson Electric Co., Schlumberger, L&T valve Ltd., Samson Controls Inc., Velan Inc., Parker Hannifin, Bray International, Valco Group.
- The report presents the analysis of Cryogenic Valve market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- Cryogenic equipment manufacturers, dealers, and suppliers
- LNG plant developers and service providers
- LNG dealers
- Cryogenic equipment Manufacturers’ associations
- Oil & gas companies
- Power and energy associations