Cryogenic Valve Market Synopsis

The Global Cryogenic Valve Market is expected to grow at 4.49% CAGR from 2018 to 2023.

Cryogenic valve is generally used for transportation and storage applications by various industries. These valves are utilized in very low temperature or extreme cold applications either to store or transport the LNG in various industries. Cryogenic valve is used in various applications such as Liquefied Ethylene, Propylene and LPG applications. LNG is the major segment which holds largest market share, as natural gas is considered as the primary source of power generation and used in wide range of application in industries such as food & beverage, storage equipment, aerospace for storage and piping the cryogenic tanks.

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The increasing demand for cryogenic valve market is attributed to the rising need for LNG and other industrial gases. The increasing LNG trade across the globe, due to its eco-friendly nature has led to the rising demand for storage and transportation of cryogenic gases, which has driven the market growth globally. The increasing number of on-site cryogenic trailer repair and cylinder fill plant for producing industrial gases is also on a rise, which enhances the market growth. However, one of the major restraints for the global cryogenic valve market is the stringent quality and safety standards which incurs the manufacturing cost of the valves.

Industry Segmentation

The market for global cryogenic valve market is segmented based on gas as LNG, oxygen, nitrogen, and others. LNG segment dominates the market due to increase in LNG trading owing to shift from long term contracts to spot market trade.

Many developing economies are investing into industrial development and infrastructure which boost the demand for cryogenic valve market. Asia-Pacific has high growth potential for the global cryogenic valve market, as these valves are extensively used in end user industries owing to rising use of natural gas in power generation, steel manufacturing, electronics, transportation, and storage applications.

For instance, according to world LNG report, 45 MTPA of regasification capacity was added during 2017 with major contribution from Asia-Pacific, Hence, global cryogenic valve market is anticipated to have significant growth rate in the forecast period.

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Regional Analysis

Asia-Pacific held the largest market share of the global cryogenic valve market in 2017. It is estimated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising demand from China, India, Australia, and Japan as they have increase in LNG imports, power generation from natural gas and storage applications which has emerged the demand for cryogenic valve market. Hence, It has been estimated that Asia-Pacific region will continue to dominate the market growth during the forecast period.

Leading Players

The key players of the global cryogenic valve market are Flowserve Corporation (US), Herose Gmbh (Germany), Emerson Electric Co (US), L&T Valves Limited. (India), Samson Controls Inc. (US), Cryocomp (US), Parker Hannifin Corp (US), The Weir Group PLC, (UK), Velan Inc (Canada), Bray International (US), Bac Valves (Spain), Powell Valves (US), and Valco Group (France).

Scope of the Report

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global cryogenic valve market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis

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