Cryogenic Valves Market Report Perspective with Study of Leading Players 2032
Over the forecast period of 2022-2032, the cryogenic
valves market is expected to grow at a CAGR of 4.8% and
reach a valuation of US$ 5,523.5 Mn by the end of 2032. Rising
demand for cryogenic gases from various end-use sectors is estimated to drive
growth in the global market over the forecast period. Development of new
technologies and increasing investments in gas-based power plants are also set
to push the market globally. Moreover, expansion of the food & beverage and
chemical sectors in Asia Pacific is creating new opportunities for market
players.
Besides, growth can be attributed to ongoing expansion of
the industrial and healthcare sectors worldwide. Increasing demand for
cryogenic gases such as LNG and liquid helium in rockets is likely to augur well
for the global market. Also, MRI machines require cryogenic cooling, while the
food sector needs to store large quantities of food, which would aid growth.
Increasing development of green energy worldwide is also expected to drive
growth.
Moreover, increasing demand for energy across the globe is
likely to aid the global market. Governments of various emerging economies are
taking several initiatives to accelerate power production and develop their
infrastructures. As per the India Brand Equity Foundation (IBEF), by 2022, the
country is likely to become the world’s third largest construction market.
India is estimated to need investments worth US$ 777.73 Billion across
infrastructure for a sustainable development by 2022. These factors are projected
to help the global market to grow at a rapid pace.
To know more@
https://www.futuremarketinsights.com/reports/cryogenic-valves-market
Key Takeaways from Market Study
- By
valve type, the gate valves segment is expected to grow at a CAGR of 9% during
the forecast period.
- By
gas, the LNG gas segment is anticipated to dominate the market and account
for about 1/3rd of share.
- By end
use, the power & energy segment is projected to lead the cryogenic
valves market and create an absolute dollar opportunity worth US$
128.8 Mn during the forecast period.
- In
terms of region, sales of cryogenic valves in South Asia & Pacific are
estimated to exhibit a CAGR of 0%.
- The
China cryogenic valves market is estimated to grow at a CAGR of 7% in
the assessment period.
“Increasing implementation of stringent regulations
for emission control in the power generation sector and rising adoption of
refrigeration systems in the F&B sector are creating new growth
opportunities for cryogenic valves manufacturers,” says a
Future Market Insights analyst.
Competitive Landscape: Cryogenic Valves
Market
Some of the key players in the global market are Flowserve
Corp., Herose, Emerson Electric, L&T, Samson, Cryocomp, Habonim,
Parker Hennafin, Bray Corp.,Velan, Weir Group, Powell Valves LTD., BAC,
Kitz Corporation, Mack Valves, YPS Valves Ltd, and OMB Valves SpA among others.
Manufacturers are strategically collaborating with technology partners for
maintaining strong relations. They are also looking forward to helping the oil
and gas industry by providing technologically advanced products.
Get More Insights on the Cryogenic Valves Market
The research report analyses the market demand trend for the
cryogenic valves. The global market is based on macroeconomic factors, market
trends & market background. As per Future Market Insights’ research scope,
the cryogenic valves market report is studied and analyzed in the following
segments such as by valve type, by gas, end use & regions. The cryogenic
valves market report gives us qualitative and quantitative information about
the companies.
Key Segments Covered in Cryogenic Valves Market Analysis
By Valve Type:
- Globe
Valve
- Gate
Valve
- Check
Valve
- Ball
Valve
- Others
By Gas Type:
- Nitrogen
- LNG
- Oxygen
- Hydrogen
- Liquid
Petroleum
- Ethylene
By End Use:
- Food
& Beverage
- Healthcare
- Chemicals
- Energy
& Power
- Others
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia and Pacific
- Middle
East & Africa
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