Reports

Global Cryogenic Valve Market to Grow at a CAGR of 6.10% During the Period 2023-2028, Driven by Uses in Industrial Applications

Cryogenic Valve Market

Global Cryogenic Valve Market: By Type: Globe Valve, Gate Valve, Check valve, Ball Valve, Others; By Gas: Nitrogen, Oxygen, LNG, Others; By End Use; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Cryogenic Valve Market Outlook

The global cryogenic valve market size attained a value of USD 3.71 billion in 2022. The market is further expected to grow at a CAGR of 6.10% between 2023 and 2028, to reach a value of USD 5.27 billion by 2028.

 

cryogenic-valve-market

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Key Trends in the Market

A cryogenic valve refers to a device which controls the flow of cryogenic gases, ensuring their safety and security. As Cryogenic gases are very sensitive, cryogenic valves are essential for the efficient transportation and storage of these gases thereby, reducing the chances of serious damage to the environment. Cryogenic valves are different from standard valves, owing to their ability to function in extreme low temperatures and in both in low- and high-pressure conditions.

 

  • The increasing applications of cryogenic valves in food processing factories is driving the cryogenic valve market growth. With the increasing demand for food and beverages surged by a growing population, there is a heightened demand for cryogenic valves in the food and beverage sector.
  • Cryogenic valves are gaining traction in the healthcare sector owing to their growing usage in the transfer process of oxygen, and in the storage of medical equipment. Rapid development of hospitals and advancements in healthcare units are accelerating the growth of the market for cryogenic valves.
  • Technological advancements in valve technology are the crucial cryogenic valve market trends, as with new features and capabilities, the potential applications and benefits of these valves increase significantly. Innovations, automation, integration of IoT, rapid industrial automation, and progressive product developments are further expected to support market growth.
  • Stringent safety regulations of governments of various nations across sectors such as chemical and petrochemical, pharmaceutical, and e-commerce, among others, are expected to bolster the demand for cryogenic valves. Rising awareness regarding the importance of transporting and storing sensitive chemicals with minimal risk is increasing the use of cryogenic valves.

 

 

cryogenic-valve-market-by-segments

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Market Analysis

Based on type, the market is segmented into globe valve, gate valve, check valve, and ball valve, among others. On the basis of gas, the market is classified into nitrogen, oxygen, and LNG, among others. By end use, the cryogenic valve market is segmented into energy and power, chemicals, food and beverage, and healthcare, among others. Based on application, the market is categorised into tanks and cold boxes, liquefiers, transfer lines, and manifolds and gas trains, among others. The regional markets for cryogenic valves are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global cryogenic valve market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Flowserve Corporation
  • HEROSE GMBH
  • Emerson Electric Co
  • Samson Controls Inc.
  • Cryofab, Inc
  • Habonim Industrial Valves & Actuators Ltd.
  • Powell Valves
  • Others

 

Market Share by Gas

The LNG segment, based on gas, accounts for a healthy share of the cryogenic valve market. This can be attributed to the increasing application of LNG as a fuel in the residential and industrial sectors. LNG is used in cooking and heating homes, due to which it is witnessing a heightened demand in the residential sector. Commercial uses of LNG includes fertilisers, paints, and medicines, among others. Cryogenic valves are being deployed in liquefaction plants, gas tankers, and receiving LNG tank terminals, leading to a heightened growth of this segment. Moreover, LNG gas use of cryogenic valves is anticipated to be aided by the rapid transition from using conventional diesel to LNG as a fuel for ships, due to the lower levels of pollution generated by LNG.

 

Market Share by End Use

Based on end use, the energy and power segment accounts for a significant share in the cryogenic valve market. The globally increasing demand for electricity is bolstering the demand for oil and gas to meet the fuel requirements. Hence, cryogenic valves are witnessing a heightened deployment in oil and gas operations. Over the forecast period, the anticipated increase in growth of power plants, along with advancements in electricity distribution systems, is likely to propel the demand for cryogenic valves for efficient transportation of sensitive oils and gases. Moreover, the increasing drilling activities and growing advancements in oilfield explorations are further aiding the growth of the energy and power end uses of cryogenic valves.

 

cryogenic-valve-market-by-region

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Competitive Landscape

Flowserve Corporation is a leading machine industry company which provides efficient fluid motion and control products and services. The vast product portfolio of the company includes pumps, seals, valves, actuation and instrument, energy recovery device, and decoking system, among others. It was found in 1997 and is currently headquartered in Texas, United States.

 

HEROSE GMBH is a prominent manufacturer of valves for industrial use. The company also provides safety services across the globe for the handling of technical gases, steams, and liquids. HEROSE supplies technical equipment for cryogenic technology, LNG applications, industrial applications, and oil-cooled transformers, among others. Founded in 1873, the company is currently based out of Schleswig-Holstein, Germany.

 

Emerson Electric Co is a leading manufacturing company which provides engineering services for industrial, commercial, and consumer markets. The product portfolio of this company includes digital valve controllers, mount transmitters, flow meters, health analysers, and pressure regulators, among others. The company was established in 1890 and is currently headquartered in Missouri in the United States.

 

Other market players include Samson Controls Inc., Cryofab, Inc, Habonim Industrial Valves & Actuators Ltd., and Powell Valves, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Gas
  • End Use
  • Application
  • Region
Breakup by Type
  • Globe Valve
  • Gate Valve
  • Check valve
  • Ball Valve
  • Others
Breakup by Gas
  • Nitrogen
  • Oxygen
  • LNG
  • Others
Breakup by End User
  • Energy and Power
  • Chemicals
  • Food and Beverage
  • Healthcare
  • Others
Breakup by Application
  • Tanks and Cold Boxes
  • Liquefiers
  • Transfer Lines
  • Manifolds and Gas Trains
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Flowserve Corporation.
  • HEROSE GMBH
  • Emerson Electric Co
  • Samson Controls Inc.
  • Cryofab, Inc
  • Habonim Industrial Valves & Actuators Ltd.
  • Powell Valves
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Cryogenic Valve Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Cryogenic Valve Historical Market (2018-2022) 
    8.3    Global Cryogenic Valve Market Forecast (2023-2028)
    8.4    Global Cryogenic Valve Market by Type
        8.4.1    Globe Valve
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Gate Valve
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
        8.4.3    Check valve
            8.4.3.1    Historical Trend (2018-2022)
            8.4.3.2    Forecast Trend (2023-2028)
        8.4.4    Ball Valve
            8.4.4.1    Historical Trend (2018-2022)
            8.4.4.2    Forecast Trend (2023-2028)
        8.4.5    Others
    8.5    Global Cryogenic Valve Market by Gas
        8.5.1    Nitrogen
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Oxygen
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    LNG
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Cryogenic Valve Market by End Use
        8.6.1    Energy and Power
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Chemicals
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Food and Beverage
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    Healthcare
            8.6.4.1    Historical Trend (2018-2022)
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Others
    8.7    Global Cryogenic Valve Market by Application
        8.7.1    Tanks and Cold Boxes
            8.7.1.1    Historical Trend (2018-2022)
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Liquefiers
            8.7.2.1    Historical Trend (2018-2022)
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Transfer Lines
            8.7.3.1    Historical Trend (2018-2022)
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Manifolds and Gas Trains
            8.7.4.1    Historical Trend (2018-2022)
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Others    
    8.8    Global Cryogenic Valve Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2022) 
            8.8.1.2    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2022) 
            8.8.2.2    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2022) 
            8.8.3.2    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2022) 
            8.8.4.2    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2022) 
            8.8.5.2    Forecast Trend (2023-2028)
9    North America Cryogenic Valve Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Cryogenic Valve Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Cryogenic Valve Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Cryogenic Valve Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Cryogenic Valve Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Flowserve Corporation 
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    HEROSE GMBH
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Emerson Electric Co
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Samson Controls Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Cryofab, Inc
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Habonim Industrial Valves & Actuators Ltd.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Powell Valves
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Cryogenic Valve Market: Key Industry Highlights, 2018 and 2028
2.    Global Cryogenic Valve Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Cryogenic Valve Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Cryogenic Valve Historical Market: Breakup by Gas (USD Million), 2018-2022
5.    Global Cryogenic Valve Market Forecast: Breakup by Gas (USD Million), 2023-2028
6.    Global Cryogenic Valve Historical Market: Breakup by End Use (USD Million), 2018-2022
7.    Global Cryogenic Valve Market Forecast: Breakup by End Use (USD Million), 2023-2028
8.    Global Cryogenic Valve Historical Market: Breakup by Application (USD Million), 2018-2022
9.    Global Cryogenic Valve Market Forecast: Breakup by Application (USD Million), 2023-2028
10.    Global Cryogenic Valve Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Cryogenic Valve Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Cryogenic Valve Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Cryogenic Valve Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Cryogenic Valve Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Cryogenic Valve Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Cryogenic Valve Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Cryogenic Valve Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Cryogenic Valve Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Cryogenic Valve Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Cryogenic Valve Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Cryogenic Valve Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Cryogenic Valve Market Structure

Key Questions Answered in the Report

What was the cryogenic valve market size in 2022?

The market reached a value of USD 3.71 billion in 2022.

What is the growth rate of the cryogenic valve market?

The market is estimated to grow at a CAGR of 6.10% between 2023 and 2028.

What is the forecast outlook of the cryogenic valve market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a value of USD 5.27 billion by 2028.

What are the major drivers of the market?

The increasing applications of cryogenic valves in various sectors, improving safety standards of transportation, increasing demand for LNG, and thriving energy and power sector are the major drivers of the market.

What are the key trends of the market?

The key trends in the market include the stringent safety regulations of various government for the industrial sector and technological advancements in valve technology.

What are the different types of cryogenic valves in the market?

Globe valve, gate valve, check valve, and ball valve, among others, are the different types of cryogenic valves in the market.

What are the various gases in the market?

Nitrogen, oxygen, and LNG, among others, are the various gases in the market.

What are the different applications in the market?

The different applications in the market are tanks and cold boxes, liquefiers, transfer lines, and manifolds and gas trains, among others.

What material is used in cryogenic valves?

The material usually used in cryogenic valves is stainless steel.

Who are the key market players, according to the report?

Flowserve Corporation, HEROSE GMBH, Emerson Electric Co, Samson Controls Inc., Cryofab, Inc, Habonim Industrial Valves & Actuators Ltd., and Powell Valves, among others, are the key players in the cryogenic valve market, according to the report.

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