Cryogenic valves are the valves designed for operating
under low temperature or extreme cold applications. There is various type of
cryogenic valves which differ in terms of construction, features and their
applications. These valves are built to transport and store the cryogenic gases
for safe and efficient conveyance. Different valves are used for
the liquefied natural gas (LNG), nitrogen, oxygen, argon, and helium which
operate at different temperatures. Cryogenic valves are widely used in vertical
of industries such as food & beverage, storage equipment, air separation
plant, aerospace, chemical, pharmaceutical industries etc. for piping and
storage purpose.
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.
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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