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

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

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