Cryogenic Valve Market

Global Cryogenic Valve Market Analysis and Opportunity Assessment by Type, Cryogen Type, End-User, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 2,959.9Mn between 2022 and 2032

Category: Clean Energy & Power

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ID: CVC-00447

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Format: PDF+Excel Dataset

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Published Date: October 2022

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Pages: 300

Cryogenic Valve Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Cryogenic Valve Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 3,374.5Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.5% and is expected to reach a valuation of US$ 6,334.4Mn by 2032 end.

In applications requiring severe cold, cryogenic valves are employed. Most businesses that deal with liquefied natural gas (LNG) and compressed natural gas (CNG) operate these valves (LNG). Cryogenic valves are employed at temperatures between -1500C and -1960C. Growing LNG commerce and expanding industrial gas consumption are the main market-driving variables.

Additionally, expanding natural gas exploration and production activities has increased the demand for liquefied natural gas. Liquefied natural gas is a crucial component of development because of the enormous industrialization and urbanization that have resulted from revolutions in various industries, including automotive, pharmaceutical, power production, and manufacturing. These valves transport and store cryogenic gases at low temperatures of -1960°C and high pressures of 750 PSI.

Market Dynamic

GROWING AUTOMATION IN INDUSTRIES AND RISING DEMAND FOR VALVES WILL BENEFIT THE MARKET

The market for automation valves is booming and outperforming traditional valves as firms focus on improving operational performance, fueling the demand for automation. In addition, the market for high-tech valves is expanding, these valves need specialized casting, and working and finishing methods will develop further.

Additionally, several nations are concentrating on building cutting-edge facilities to improve the position of their national physics research infrastructure, which is fueling the expansion of the worldwide cryogenic valve market. These valves are commonly used in refrigeration systems and superconducting magnets to sustain extremely low temperatures.

OPERATIONAL DESIGN AND PERFORMANCE PARAMETERS TO RESTRAIN MARKET GROWTH

In addition to a wide range of advantageous characteristics, these products’ susceptibilities to operational issues, such as leaks, replacement, and design of different valve sections, may slow the market’s growth. The extended bonnet or extended stem designs, which need a lot of room for installation and result in an unfavorable expenditure of time and space, are often used for the items.

The orientations are also highly susceptible to deformation or bending due to incorrect length estimations or actuator movements. These valves handle fluids at very low temperatures, ranging from -50 °C to just below absolute zero. The changing temperature of the running fluid can stretch and bend the sealing surface, causing interior leaks.

INCREASING INVESTMENTS ACROSS NUCLEAR AND PARTICLE PHYSICS RESEARCH TO AUGMENT DEMAND

Many nations are actively concentrating on building cutting-edge facilities to strengthen the position of their national infrastructure for physics research. These valves are commonly used in refrigeration systems and superconducting magnets to sustain extremely low temperatures.

The industrial outlook is expected to be further bolstered by the growing requirement to upgrade the current substructure to conduct high-energy particle collision studies with multiple tera electron volts (TeV). It is predicted that these collisions will reveal novel states of matter and deepen our understanding of the fundamental components of the cosmos.

Cryogenic Valve Market

Market Segments Covered in Report

By Type:

  • Gate Valve
  • Globe Valve
  • Ball Valve
  • Butterfly Valve
  • Others

By Cryogen Type:

  • Nitrogen
  • Oxygen
  • Argon
  • Liquefied Natural Gas
  • Hydrogen
  • Helium
  • Others

By End-User:

  • Oil & Gas
  • Metallurgy
  • Power Generation
  • Chemical & Petrochemical
  • Marine
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the demand for global butterfly valves anticipated to accelerate in the forecast period?

The rise in demand from various industry verticals, particularly oil & gas, wastewater treatment, chemicals for monitoring, and predictive maintenance, supports the market’s growth, which is expected to accelerate demand for global butterfly valves throughout the forecast period.

What is the significance of Liquefied Natural Gas?

Natural gas is cooled to -162°C to create liquefied natural gas (LNG), an odorless and colorless liquid. Gas volume is reduced by 600 times during the liquefaction process, making storage and transportation easier. Once this gas has arrived at its destination, it is transformed into gas through the regasification process and sent through pipelines and vessels to end users. Because it burns cleaner than gasoline and diesel, liquefied natural gas is a newly popular fuel.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • Due to the rising demand for LNG-based power plants, North America also contributes a sizeable cryogenic valve market share of 34.0%. Given that 70 GW of new gas-powered power plants were proposed in 2020, it is anticipated that the demand for gas will rise as the industrial and power sectors expand.
  • Asia Pacific holds the largest market share for cryogenic valves worldwide. The region’s need for valves is fueled by rising energy demand from gas-based power plants, which is brought on by limited energy resources and strict pollution laws. Due to its massive plans to enhance its hydrogen infrastructure, the installation of cutting-edge air separation plants, and the ongoing development of new research facilities, China has been the undisputed leader in the region.

Competition Analysis

To improve the supply chain for cryogenic valves, there has been rising acquisition and growth activity during the past few years. According to end users’ needs, major manufacturers offer a wide selection of customized valves. Additionally, they provide services that are tailored specifically for each client. In the upcoming ten years, start-up businesses will likely enter the market.

The key developments in the Global Cryogenic Valve Market:

  • In October 2021, the Valtek Multi Z Anti cavitation control valve was introduced by Flowserve Corporation, one of the major industrial and environmental machinery manufacturers, to stop cavitation in high-pressure drop situations.
  • In March 2020, Weka AG, an international maker of valves, confirmed that it would sign a contract with the Indian company Toshniwal Hyvac Pvt. Ltd. The company aims to increase local sales & marketing in the area and license product manufacturing in the nation. The manufacturing and supply of various items, including specialized valves, cryogenic components, and level monitoring technologies, will be part of Weka’s sales cooperation. These products were found during a two-year search and evaluation period with the company.

A list of some of the key suppliers present in the market are:

  • Flowserve
  • Heroes
  • Emerson
  • L&T
  • Samson
  • Cryocomp
  • Habonim
  • Parker
  • Bray
  • Velan
  • Weir Group
  • Powell Valves
  • BAC
  • Kitz
  • Mack Valves
  • YPS Valves Ltd
  • OMB Valves SpA

Report Coverage and Highlights

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.
Research ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Type, Cryogen Type, End-User, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request

Frequently Asked Questions

In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 6.5%.

Growing automation in industries and rising demand for valves will benefit the market.

Major global Cryogenic Valve Market players are Flowserve, Heroes, Emerson, L&T, Samson, Cryocomp, Habonim, Parker, Bray, Velan, Weir Group, Powell Valves, BAC, Kitz, Mack Valves, YPS Valves Ltd, OMB Valves SpA

Operational design and performance parameters to restrain the market growth

North America is expected to account for the largest market revenue share in the Global Cryogenic Valve market.

  1. Executive Summary
    • Global Market Snapshot
    • Key Success Factors
    • Strategic Analysis and Recommendations
  2. Market Overview
    • Market Taxonomy
    • Market Definitions
  3. Research Methodology
    • Preliminary Investigation & Research Design
    • Secondary Research & Primary Research
    • Data Analysis & Econometric Modelling
    • Expert Data Validation
  4. Key Emerging Trends Analysis
    • Supply-Side Trends
    • Demand-Side Trends
  5. Global Cryogenic Valve Market Value (US$ Mn) and Volume (Tons) Analysis
    • Global Market Value (US$ Mn) Analysis, 2017 – 2032
    • Incremental $ Opportunity Index, 2022-2032
    • Global Market Volume (Tons) Analysis, 2017 – 2032
  6. Global Cryogenic Valve Market Pricing Analysis
    • Regional Level Pricing Analysis and Forecast
      • Manufacturers Level Pricing
      • Distributor Level Pricing
    • Global Pricing Analysis Benchmark
    • Cost Breakdown Analysis
  7. Cross-Sectional Analysis
    • Cross Analysis of Fuel Type W.R.T. Packaging Fuel Type
  8. Supply Vs. Demand Analysis
    • Regional Supply Vs. Demand Gap Assessment
    • Top Producing Countries Analysis
  9. Market Background
    • Macroeconomic Factors
    • Forecast Factors
    • Market Dynamics
      • Driver
      • Restraint
      • Opportunity
    • Supply Chain Analysis
      • List Raw Fuel Type Suppliers
      • List of Manufacturers
      • List of Distributors
      • List of Packagings
      • Packagings Consumption Analysis
      • Average Profitability Margin Analysis
    • Covid-19 Impact Assessment
      • Economy/Cluster Projections
      • Covid-19 Economic Assessment
      • Impact on Target Market
      • Recovery Scenario
    • Regulatory Framework
      • Regulations of Key Countries
      • Potential Impact of Regulations
    • Porter’s Five Forces Analysis
    • Packaging Landscape
  10. Global Cryogenic Valve Market 2017 – 2032 by Type
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Gate Valve
      • Globe Valve
      • Ball Valve
      • Butterfly Valve
      • Others
    • Market Attractiveness Analysis by Type
  11. Global Cryogenic Valve Market 2017 – 2032 by Cryogen Type
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Cryogen Type [Value (US$ Mn) and Volume (Tons) Analysis]
      • Nitrogen
      • Oxygen
      • Argon
      • Liquefied Natural Gas
      • Hydrogen
      • Helium
      • Others
    • Market Attractiveness Analysis by Cryogen Type
  12. Global Cryogenic Valve Market 2017 – 2032 by End-User
    • Introduction
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By End-User [Value (US$ Mn) and Volume (Tons) Analysis]
      • Oil & Gas
      • Metallurgy
      • Power Generation
      • Chemical & Petrochemical
      • Marine
      • Others
    • Market Attractiveness Analysis by End-User
  13. Global Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032 by Region
    • Introduction
    • Key Market Trends
    • Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • Middle East
      • Africa
    • Market Attractiveness Analysis by Region
  14. North America Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2022-2033
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • U.S.
        • Canada
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  1. Latin America Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Brazil
        • Mexico
        • Rest of Latin America
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  1. Europe Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Germany
        • Italy
        • France
        • UK
        • Spain
        • Netherlands
        • Norway
        • Russia
        • Rest of Europe
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  1. Asia-Pacific Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • China
        • Japan
        • South Korea
        • India
        • Indonesia
        • Thailand
        • Vietnam
        • Australia & New Zealand
        • Rest of Asia-Pacific
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  1. Middle East Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • Saudi Arabia
        • Turkey
        • U.A.E.
        • Rest of the Middle East
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  1. Africa Cryogenic Valve Market Historical Analysis 2017 – 2021 and Forecast 2017 – 2032
    • Introduction
    • Key Market Trends
    • Pricing Analysis
    • Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
      • By Country
        • South Africa
        • Nigeria
        • Egypt
        • Rest of Africa
      • By Type
      • By Cryogen Type
      • By End-User
    • Market Attractiveness Analysis
      • By Country
      • By Type
      • By Cryogen Type
      • By End-User
  2. Competition Analysis
    • Tier Structure Breakdown
    • Market Share Analysis
    • Packaging Capacity Analysis
    • Company Footprint Analysis
      • Packaging Footprint of Players
      • Regional Footprint of Players
      • Channel Footprint of Players
    • Brand Preference Analysis
    • Competition Dashboard
  3. Company Profiles
    • Flowserve
      • Company Overview
      • Packaging & Financial Portfolio
      • Packaging Facilities
      • Recent Developments
      • SWOT Analysis
      • Strategy Overview
    • Heroes
    • Emerson
    • L&T
    • Samson
    • Cryocomp
    • Habonim
    • Parker
    • Bray
    • Velan
    • Weir Group
    • Powell Valves
    • BAC
    • Kitz
    • Mack Valves
    • YPS Valves Ltd
    • OMB Valves SpA
  4. Assumptions and Acronyms

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