Global Cryogenic Valve Market by gas (LNG, Oxygen, Nitrogen and Others) –by type (Globe Valve, Gate Valve, Check Valve, Ball Valve and Others) – by end user (Energy & Power, Chemicals, Food & Beverage, HealthCare, Oil & Gas and Others)- by application (Tanks & Cold Boxes, Liquefiers, Transfer lines and Manifolds & Gas Trains) -by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) – is expected to reach US $ XX Bn by 2027, at a CAGR of XX %.
A cryogenic valve consists of few components, which help to link the cold pipeline with the liquid gas to the atmosphere at ambient temperature. They are considered to exclude leakage, diminish maintenance and exploit lifetime operation. Rapid urbanization & industrialization, technical innovations, civilizing healthcare services are some of the factors, which are expected to drive the demand for a cryogenic valve. Cryogenic valve is used in numerous applications such as Liquefied Ethylene, Propylene, CNG and LPG applications.
The Energy & Power segment is projected to grow at a high rate of CAGR during the forecast year.
The growth is attributed to the increasing the usage of the cryogenic valves in the energy & power industry. They are implemented for the process of liquefication, transportation, and regasification. The increase in the trade of LNG across the world is one of the key drivers of the energy & power segment.
LNG is expected to share significant growth in the cryogenic valve market.
The growth can be attributed to the increasing demand for LNG. It is deliberated as the main source of energy. LNG is used in power generation in the automotive sector, while many nations are implementing LNG as its fuel for various applications in different industries as well. LNG is mainly used in end-user industries such as shipbuilding, power generation, and automotive industries.
Ball valves are expected to lead the global cryogenic valve market.
Ball valves are suitable, where tight shut-off is required. These valves offer the feature such as high flow rate and easy operation compared to other valve types, which are resulting in the large market share in the cryogenic valve market. These valves are designed consequently and widely used in applications such as transportation, liquefied gas production, and storage of the gases.
The Asia Pacific is expected to dominate the significant growth in the global cryogenic valve market.
Asia-Pacific region is expected to dominate the global cryogenic valve market. Increasing oil and gas industrial activities and chemical industries in the republics such as China, India, and Japan is the increasing the cryogenic valve market growth. India was the third-largest consumer of the oil sector in 2017. The country has nearly about 600 million metric ton (MMT) of oil reserves and about 40.8 trillion cubic feet of natural gas reserves and endures to focus on growing domestic production coupled with the huge investments form the oil and gas industries.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of some of the leading manufacturers such as Powell Valves ,Habonim, Schlumberger,Pfeiffer Chemie-Armaturenbau GmbH ,BAC Valves Online sl ,Bray International, DeZURIK, DFL ITALIA SRL,Generant ,Habonim Industrial Valves & Actuator,MECA-INOX,Parker Bestobell,Flowserve Corporation ,Herose Gmbh ,Emerson Electric Co, L&T Valves Limited. , Samson Controls Inc., Cryocomp, Parker Hannifin Corp, the Weir Group PLC, Velan Inc and Valco Group.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global cryogenic valve market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global cryogenic valve market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global cryogenic valve market positioning of competitors.
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