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
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.
Demand for Cryogenic Valve Expected to Increase in Energy and Power
global cryogenic valve market is segmented into helium, hydrogen,
nitrogen, oxygen, LNG, and others on the basis of
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.
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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