Stratview Research releases a new report on the Cryogenic Valve Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.

Cryogenic Valve Market Insights:

The cryogenic valve market was estimated at USD 3.13 billion in 2022 and is likely to witness a healthy CAGR of 4.7% during 2023-2028 to reach USD 4.14 billion in 2028.

What is a cryogenic valve?

A cryogenic valve is for the purpose of reacting to high pressure for allowing the valve to open and the gas to flow through. It is used to keep the cryogenic gases in closed form in order to keep them secure.

Cryogenic valves can be ball valves, glove valves, gate valves, check valves, and others. The valve is used in the application of transfer lines, tanks & cold boxes, manifolds and gas trains, and liquefiers.

Market Dynamics

Increasing trade of LNG has led to the high demand for the storage and transportation of cryogenic gases, which in turn is driving the demand for cryogenic valves. Further, the high demand for industrial gases is acting as a catalyst for the growth of cryogenic valves.

The Cryogenic Valve Market size depends upon several factors that have a direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analyzing the core strength of the companies, identifying their growth strategies, and recognizing their gaps as well as opportunities to lay out an effective roadmap that leads to higher profitability.

Market Segmentation:

The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.

Based on the end-user type, the market is segmented as energy & power, chemicals, food & beverage, healthcare, and others. The energy & power segment is estimated to be the largest market for cryogenic valves during the forecast period. The increasing demand for LNG owing to meet the rising demand for power generation is the major factor behind the dominance of the energy & power sector.

Based on the type, the market is segmented as ball valve, globe valve, gate valve, check valve, and others. The ball valve offers superior features such as high flow rate and easy operating in comparison to other valve types. Further, these valves are designed based on the requirement of applications for their use in transportation, LNG production, and storage applications.

Based on the application type, the market is segmented as transfer lines, tanks & cold boxes, manifolds & gas trains, and liquefiers. The transfer lines sub-segment dominated the market and is expected to remain dominant during the forecast period. The increasing demand for LNG drives the growth of the transfer lines segment.

In terms of regions, Asia-Pacific is expected to be the largest market for cryogenic valves in the coming five years. The market is driven by the growth in end-use industries, primarily owing to the economic development in the region, dependable supply chain, cheap labor, and huge consumer base.

Report Customization Options

Stratview Research offers one of the following free customization options to the users along with this detailed report:

Company Profiling

  • Detailed brief of additional market players.
  • SWOT analysis of key players.
  • Competitive Benchmarking

Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].