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Global Cryogenic Valve Market Predicted to Grow at a CAGR of 3.26%. Between 2019 and 2025

  By QY Research          25 Nov 2019   Machinery & Equipments        


Global Cryogenic Valve Market Predicted to Grow at a CAGR of 3.26%. Between 2019 and 2025

Los Angeles, November 25, 2019 –The global cryogenic valve market is expected to expand in future as it rides on the high requirement for cryogenic valve in low temperature and liquefied natural gas (LNG) applications, including air separation, LNG plants, LNG floating production storage and offloading, LNG platform, LNG terminals, and LNG tankers. High use of natural gas to serve the energy and fuel needs of the industrial, residential, and commercial sectors is anticipated to strengthen the demand in the global cryogenic valve market. A high percentage of LNG is regasified into natural gas to be used in various applications.

Use of Cryogenic Valve to Safely Store Cryogenic Gases Likely to Benefit Market

The global demand for cryogenic valve is expected to increase mainly due to the need to safely and efficiently store and transport cryogenic gases. Notable growth in global LNG trade could be another important factor boosting the demand in the global cryogenic valve market. Rising demand for industrial gases is also anticipated to work in the favor of the global cryogenic valve market. Increase in the production of liquefied gases may create sales opportunities for cryogenic valve manufacturers during the forecast period 2019-2025. High adoption of cryogenic valve among companies working with compressed natural gas or LNG could contribute to the growth of the global market.

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Demand for Cryogenic Valve Expected to Increase in Energy and Power

The global cryogenic valve market is segmented into helium, hydrogen, nitrogen, oxygen, LNG, and others on the basis of product. Among these, LNG is projected to gain a significant share of the global cryogenic valve market in future. This could be due to the growing requirement for LNG to generate power. On the basis of application, the global cryogenic valve market is segmented into healthcare, food and beverage, chemicals, energy and power, and others. Among these, energy and power is anticipated to collect a remarkable share of the global cryogenic valve market in the coming years. Increasing application of cryogenic power generation at LNG regasification terminals could improve the demand for cryogenic valve in the energy and power industry.

Asia Pacific Anticipated to Gain Growth in Future with Rising Demand for LNG

Asia Pacific is predicted to create strong demand for cryogenic valve on the back of the high use of metallurgical processes, chemicals, electronic equipment, and LNG in key countries, viz. Japan, Australia, India, and China. Increasing industrial development could also add to the growth of the Asia Pacific cryogenic valve market. North America and Europe could benefit from the presence of key players of the global cryogenic valve market.

Key Players

Some of the leading manufacturers of cryogenic valve are Emerson, Meca-Inox, Flowserve, Valco Group, Schlumberger (Cameron), Kitz, Velan, Habonim Industrial Valves and Actuators, KSB, Bac Valves, Herose, Zhejiang Petrochemical Valve, Parker Bestobell, Bray, Samson, L&T Valves, and Powell Valves. Key players could sign acquisition deals, enter into new agreements, or expand their business and operation contracts to attain a position of strength in the global cryogenic valve market

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