Global Cryogenic Valve Market Report and Forecast 2024-2032

Cryogenic Valve Market Size

The global cryogenic valve market size attained a value of USD 3.94 billion in 2023. The market is further expected to grow at a CAGR of 6.0% between 2024 and 2032, to reach a value of USD 6.68 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

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.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Cryogenic Valve 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.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape of Cryogenic Valve Industry

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

Cryogenic Valve Market Report Snapshots

Cryogenic Valve Market Size

Cryogenic Valve Market Analysis

Cryogenic Valve Market Share

Cryogenic Valve Companies