Cryogenic
Valve Market Analysis
The global Cryogenic
Valve Market is predicted to grow at a 4.49% CAGR over the forecast
period (2018-2023), states the new Market Research Future (MRFR) report. Cryogenic
valves are used in extremely cold or very low-temperature applications to
transport or store the LNG in different industries. Durability, reliability,
extreme corrosion-resistance qualities, and outstanding performance are some of
its fundamental characteristics. These valves have a vast range of applications
in biotechnology, pharmaceuticals, aerospace, and many other low-temperature
services.
Cryogenic valve is used in various applications such
as Liquefied Ethylene, Propylene and LPG applications. LNG is the major segment
which holds largest market share, as natural gas is considered as the primary
source of power generation and used in wide range of application in industries
such as food & beverage, storage equipment, aerospace for storage and
piping the cryogenic tanks.
Cryogenic
Valve Industry Segmentation
The Market Research Future report provides a wide
segmental analysis of the cryogenic valve market based on type, gas, end user,
and application.
By type, the cryogenic valve market is segmented into
check valve, ball valve, gate valve, globe valve, and others.
By end user, the cryogenic valve market is segmented
into chemicals, food and beverage, energy and power, and others.
By application, the cryogenic valve market is
segmented into manifolds and gas trains, transfer lines, and tanks and cold
boxes.
By gas, the cryogenic valve market is segmented into
nitrogen, oxygen, LNG, and others. Of these, the LNG segment will lead the
market over the forecast period.
Regional
Analysis
Based on the region, the cryogenic valve market report
covers growth opportunities and the latest trends across the Asia Pacific
(APAC), Europe, North America, and the Rest of the World (RoW). Of these, the
APAC region will have the lion’s share in the market over the forecast period.
This is chiefly owing to the increasing demand for cryogenic valves from Japan,
Australia, India, and China, an increase in LNG imports, and power generation
from natural gas as well as storage applications.
The cryogenic valve market in Europe and North America
is predicted to grow at a rapid pace during the forecast period. This is owing
to technological growth on the industrial front and the presence of several key
players.
The cryogenic valve market in the Rest of the World
will have a steady growth over the forecast period.
Key
Players
Leading players profiled in the cryogenic valve market
report include Valco Group (France), Powell Valves (US), Bac Valves (Spain),
Bray International (US), Velan Inc (Canada), The Weir Group PLC, (UK), Parker
Hannifin Corp (US), Cryocomp (US), Samson Controls Inc. (US), L&T Valves
Limited. (India), Emerson Electric Co (US), Herose Gmbh (Germany), and
Flowserve Corporation (US). The key players have used several strategies to
create a foothold in the market, such as partnerships, mergers, acquisitions,
product launch, and more.
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