Cryogenic Valve Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Globe Valve, Ball Valve, Gate Valve, Butterfly Valve, Check Valve), By Application (Liquefiers, Manifolds And Gas Trains, Tanks And Cold Boxes, Transfer Lines), By End User Industry (Energy And Power, Food And Beverage, Pharmaceuticals, Chemical, Others), And By Geography - Forecasts From 2019 To 2024
- Published : Mar 2021
- Report Code : KSI061612358
- Pages : 118
The cryogenic valve market was estimated at US$1,932.817 million in 2018 and is projected to expand at a CAGR of 5.03% during the forecast period to grow to US$2,594.699 million in 2024. Cryogenic valves help in the production, storage, and transportation of cryogenic gases as the volume of industrial and natural gases reduce when liquified at cryogenic temperatures. The growth in the cryogenic valve market is primarily attributed to the rising demand and production of industrial gases such as nitrogen, oxygen, helium, and others. These are also used by companies that work with Liquified Natural Gas (LNG) and Compressed Natural Gas (CNG).
Growing industries such as food and beverage and pharmaceuticals owing to rising demand for processed food products and rising prevalence of chronic diseases is, in turn, boosting the demand for cryogenic valves across these end-user industries. An increase in usage of LPG and CNG as fuel with a low carbon footprint is creating significant opportunities for manufacturers of cryogenic valves. Volatile metal prices can act as a restraint for market growth resulting in declining profits. By type, the ball valve segment holds a significant market share as these valves are designed for transportation, liquefied gas productions, and storage applications. Geographically, APAC is projected to witness the fastest growth owing to the expansion of the manufacturing bases of end-user industries in countries like China and India.
DRIVERS
• Rising demand and production of industrial and natural gases
• Growth of food processing industry
• Growth of the pharmaceutical industry
RESTRAINT
• Unstable metal prices
INDUSTRY UPDATE
• In September 2015, Parker Hannifin, a maker of motion and control technologies acquired UK firm President Engineering group that makes cryogenic valves for liquefied natural gas and industrial gas applications, as well as specialized equipment for mining safety uses.
Cryogenic Valve Market Scope:
Report Metric | Details |
Market size value in 2018 | US$1,932.817 million |
Market size value in 2024 | US$2,594.699 million |
Growth Rate | CAGR of 5.03% from 2018 to 2024 |
Base year | 2018 |
Forecast period | 2019–2024 |
Forecast Unit (Value) | USD Million |
Segments covered | Type, Application, End-Use Industry, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | Bac Valves, Emerson Electric Co., Goetze KG, Cryocomp, L&T Valves Limited, Velan, Schlumberger, Habonim, Herose GmbH, Bray |
Customization scope | Free report customization with purchase |
SEGMENTATION
The cryogenic valve market has been analyzed through the following segments:
• By Type
o Globe Valve
o Ball Valve
o Gate Valve
o Butterfly Valve
o Check Valve
• By Application
o Liquefiers
o Manifolds and Gas Trains
o Tanks and Cold Boxes
o Transfer Lines
• By End-Use Industry
o Energy and Power
o Food and Beverage
o Pharmaceuticals
o Chemical
o Others
• By Geography
o North America
? USA
? Canada
? Mexico
• South America
o Brazil
o Argentina
o Others
• Europe
o Germany
o France
o United Kingdom
o Spain
o Others
• Middle East and Africa
o Saudi Arabia
o Israel
o Others
• Asia Pacific
o China
o Japan
o South Korea
o India
o Others
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. KEY FINDINGS
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. CRYOGENIC VALVE MARKET BY TYPE
5.1. Globe Valve
5.2. Ball Valve
5.3. Gate Valve
5.4. Butterfly valve
5.5. Check valve
5.6. Others
6. CRYOGENIC VALVE MARKET BY APPLICATION
6.1. Liquefiers
6.2. Manifold and Gas Trains
6.3. Tanks and Cold Boxes
6.4. Transfer Lines
6.5. Others
7. CRYOGENIC VALVE MARKET BY END USE INDUSTRY
7.1 Energy and Power
7.2 Food and Beverage
7.3 Pharmaceuticals
7.4 Chemical
7.5 Others
8. CRYOGENIC VALVE MARKET BY GEOGRAPHY
8.1. North America
8.1.1. USA
8.1.2. Canada
8.1.3. Mexico
8.2. South America
8.2.1. Brazil
8.2.2. Argentina
8.2.3. Others
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. United Kingdom
8.3.4. Spain
8.3.5. Others
8.4. Middle East and Africa
8.4.1. Saudi Arabia
8.4.2. Israel
8.4.3. Others
8.5. Asia Pacific
8.5.1. China
8.5.2. Japan
8.5.3. South Korea
8.5.4. India
8.5.5. Others
9. COMPETITIVE INTELLIGENCE
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investments and Deals
9.3. Strategies of Key Players
10. COMPANY PROFILES
10.1. Bac Valves
10.2. Emerson Electric Co
10.3. Goetze KG
10.4. Cryocomp.
10.5. L&T Valves Limited
10.6. Velan
10.7. Schlumberger
10.8. Habonim
10.9. Heroes GmbH
10.10. Bray
LIST OF FIGURES
LIST OF TABLES
Bac Valves
Emerson Electric Co.
Goetze KG
Cryocomp
L&T Valves Limited
Velan
Schlumberger
Habonim
Herose GmbH
Bray
Related Reports
Report Name | Published Month | Get Sample PDF |
---|---|---|
Factory Automation Market Size, Share & Trends: Report, 2024-2029 | Aug 2024 | |
Beam Expander Market Size & Share: Industry Report, 2023 - 2028 | Feb 2023 | |
Human Machine Interface (HMI) Market Size: Report, 2023-2028 | Aug 2023 | |
Instrument Cluster Market Size & Share: Report, 2024 - 2029 | Jun 2024 | |
Isostatic Press Market Size & Share: Industry Report, 2022-2027 | Sep 2022 |