Frosty Prospects and Future Horizons: A Comprehensive Analysis of the Cryogenic Valves Market with Key Player Insights Towards 2033
The Cryogenic Valves Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Cryogenic Valves market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Cryogenic Valves. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
By the end of 2033, the cryogenic valves market is
projected to be valued at US$5,731.4 Million, growing at a CAGR of 4.9%. Global
market expansion is predicted to be fueled by rising demand for cryogenic gases
from a range of end-use industries throughout the course of the forecast
period. Rising investments in gas-powered power plants and the development of
new technologies will most likely drive the industry. Additionally, new
opportunities for market players are being created by the expansion of the
chemical and food and beverage sectors in Asia Pacific.
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Besides, growth can be attributed to the ongoing expansion
of the industrial and healthcare sectors worldwide. Increasing demand for
cryogenic gases such as LNG and liquid helium in rockets is likely to augur
well for the global market. Also, MRI machines require cryogenic cooling, while
the food sector needs to store large quantities of food, which would aid
growth. The increasing development of green energy worldwide is also expected
to drive growth.
Moreover, increasing demand for energy across the globe is
likely to aid the global market. Governments of various emerging economies are
taking several initiatives to accelerate power production and develop their
infrastructures. As per the India Brand Equity Foundation (IBEF), by 2022, the
country is likely to become the world’s third largest construction market.
India is estimated to need investments worth US$ 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.
Key Takeaways from the 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 Million 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
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.
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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 the Pacific
- Middle
East & Africa
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