Cryogenic Valve Market Analysis | 2023-2028

Market Insights

The cryogenic valve market was estimated at USD 3.13 billion in 2022 and is likely to witness a healthy CAGR of 4.7% during 2023-2028 to reach USD 4.14 billion in 2028.

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Market Dynamics

Introduction

A cryogenic valve is for the purpose of reacting to high pressure to allow the valve to open and the gas to flow through. It is used to keep the cryogenic gases in closed form in order to keep them secure.

Cryogenic valves can be ball valves, glove valves, gate valves, check valves, and others. The valve is used in the application of transfer lines, tanks & cold boxes, manifolds and gas trains, and liquefiers.

Market Drivers

Increasing trade of LNG has led to the high demand for the storage and transportation of cryogenic gases, which in turn is driving the demand for cryogenic valves. Further, the high demand for industrial gases is acting as a catalyst for the growth of cryogenic valves.

Key Players

Some of the major players in the market are:

• Cryocomp
• The Emerson Electric Company
• The Flowserve Corporation
• Larsen & Toubro Limited
• Powell Valves
• Schlumberger Limited
• Weir Group.

Note: The above list does not necessarily include all the top players in the market.

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Segments Analysis

By End-User Type

Based on the end-user type, the market is segmented as energy & power, chemicals, food & beverage, healthcare, and others. The energy & power segment is estimated to be the largest market for cryogenic valves during the forecast period. The increasing demand for LNG owing to meet the rising demand for power generation is the major factor behind the dominance of the energy & power sector.

By Type

Based on the type, the market is segmented as ball valve, globe valve, gate valve, check valve, and others. The ball valve offers superior features such as a high flow rate and easy operation in comparison to other valve types. Further, these valves are designed based on the requirements of applications for their use in transportation, LNG production, and storage applications.

By Application Type

Based on the application type, the market is segmented as transfer lines, tanks & cold boxes, manifolds & gas trains, and liquefiers. The transfer lines sub-segment dominated the market and is expected to remain dominant during the forecast period. The increasing demand for LNG drives the growth of the transfer lines segment.

Regional Insights

In terms of regions, Asia-Pacific is expected to be the largest market for cryogenic valves in the coming five years. The market is driven by the growth in end-use industries, primarily owing to the economic development in the region, dependable supply chain, cheap labor, and huge consumer base.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s cryogenic valve market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The cryogenic valve market is segmented into the following categories:. 

By End-User Type

• Energy & Power
• Chemicals
• Food & Beverage
• Healthcare
• Others

By Gas Type

• Liquified Natural Gas (LNG)
• Nitrogen
• Oxygen
• Others

By Type

• Ball Valve
• Glove Valve
• Gate Valve
• Check Valve
• Others

By Application Type

• Transfer Lines
• Tanks & Cold Boxes
• Manifolds & Gas Trains
• Liquefiers

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.