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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 Report Snapshots
Cryogenic Valve Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 3.94 billion in 2023.
The market is estimated to grow at a CAGR of 6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 6.68 billion by 2032.
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.
The key trends in the market include the stringent safety regulations of various government for the industrial sector and technological advancements in valve technology.
Globe valve, gate valve, check valve, and ball valve, among others, are the different types of cryogenic valves in the market.
Nitrogen, oxygen, and LNG, among others, are the various gases in the market.
The different applications in the market are tanks and cold boxes, liquefiers, transfer lines, and manifolds and gas trains, among others.
The material usually used in cryogenic valves is stainless steel.
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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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124