Market Research
Future published a raw research report Global Cryogenic Valve Market that
contains the information from 2018 to 2023.
The Global Cryogenic
Valve Market Size is expected to grow at 4.49% CAGR from 2018 to 2023. Cryogenic valves are the
valves designed for operating under low temperature or extreme cold
applications. There are various type of cryogenic valves which differ in terms
of construction, features and their applications.
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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