Cryogenic Valve Storage Market Research Report for 2021 set to Grow according To Forecasts


Cryogenic Valve Market predicted to grow at more than 4.49% by 2027
Market Research Future published a half-cooked research report on global Cryogenic Valve market. The cryogenic valve market is expected to expand at 4.49% CAGR during the period 2018 to 2023.

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Market Highlights

Cryogenic valve is generally used for transportation and storage applications by various industries. These valves are utilized in very low temperature or extreme cold applications either to store or transport the LNG in various industries. Cryogenic valve is used in various applications such as Liquefied Ethylene, Propylene and LPG applications. LNG is the major segment which holds largest market share, as natural gas is considered as the primary source of power generation and used in wide range of application in industries such as food beverage, storage equipment, aerospace for storage and piping the cryogenic tanks.

Based on gas, the market is segmented as LNG, oxygen, nitrogen and others. LNG segment is estimated to dominate the market during the forecast period, due to the increasing demand of LNG across various verticals such automotive, pharmaceuticals, etc. Considering the segment by type, the market is segmented as globe, gate, ball, check and others. Ball valve type segment is estimated to dominate the market during the forecast period due to its efficient heat transfer capability, additional blow out protection and better flow characteristics than other valves. Based on end-user, the market is segmented as energy power, food beverage industry, chemical and others. Energy power segment lead the market due to wide application of cryogenic valve in the liquefication and power plants.

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The Global Cryogenic Valve Market is expected to grow at 4.49% CAGR during the forecast period.

Market Research Analysis

Asia-Pacific region accounts for the largest market share during the forecast period

Region wise, Asia-Pacific held the largest market share of the global cryogenic valve market in 2017. It is estimated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising demand from China, India, Australia, and Japan as they have increase in LNG imports, power generation from natural gas and storage applications which has emerged the demand for cryogenic valve market. Hence, It has been estimated that Asia-Pacific region will continue to dominate the market growth during the forecast period.

Scope of the Report

This report provides an in-depth analysis of the global cryogenic valve market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the cryogenic valve market by its gas, type, end-user, application and region.

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By Gas

LNG

Oxygen

Nitrogen

Others

By Type

Globe

Gate

Ball

Check

Others

By End-User

Energy Power

Food Beverage

Chemicals

Others

By Application

Tanks Cold Boxes

Transfer lines

Manifolds Gas Trains

By Region

North America 

Europe

Asia-Pacific 

Rest of the World  

Key Players

The key players of the global cryogenic valve market are Flowserve Corporation (US), Herose Gmbh (Germany), Emerson Electric Co (US), LT Valves Limited. (India), Samson Controls Inc. (US), Cryocomp (US), Parker Hannifin Corp (US), The Weir Group PLC, (UK), Velan Inc (Canada), Bray International (US), Bac Valves (Spain), Powell Valves (US), and Valco Group (France).

Industry News:

https://www.globenewswire.com/news-release/2019/07/25/1888085/0/en/Cryogenic-Valve-Market-Predicted-to-Grow-at-4-49-during-2018-to-2023-Global-Cryogenic-Valve-Industry-Forecast-by-Gas-Type-Application-End-User-and-Region.html