Cryogenic Valves Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cryogenic Valves Market Analysis
The global cryogenic valves market is estimated to witness healthy growth, recording an estimated CAGR of over 4% during the forecast period 2022-2027.
While the market was negatively impacted by the COVID-19 pandemic, it is now estimated to have reached pre-pandemic levels.
The major factor driving the growth of the market studied is the increasing demand for industrial gases.
Safety concerns regarding the operation of liquefied gases are likely to hinder the growth of the market.
The growing demand from the chemicals industry is also expected to boost the market for cryogenic valves over the coming years.
The Asia-Pacific region is expected to dominate the market and witness the highest CAGR during the forecast period.
Cryogenic Valves Market Trends
This section covers the major market trends shaping the Cryogenic Valves Market according to our research experts:
Increasing Usage in the Oil and Gas Industry
In the oil and gas industry, the cryogenic temperature range starts at -238°F (-150°C). Also, some gases are considered cryogenic gases as it takes more than just an increase in pressure to compress their volume.
Cryogenic valves are used to store and transport these cryogenic gases safely and efficiently. They are designed for suitable integrity pressure protection and emergency shutdowns in temperatures as low as 196°C.
The recovery in oil production activities is expected to boost the cryogenic valves market over the next few years.
The demand for oil and gas has been on a general trend of increasing, which has resulted in an increase in drilling activities around the world in an effort to discover new fields. Since almost all the easy oil has already been discovered, the wells being drilled now are deeper and more complex than before. Deep and ultra-deep-water drilling operations are also on the rise.
Owing to these factors, the market for cryogenic valves is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market
The Asia-Pacific region dominates the global market share. With oil and gas industrial activities growing and the demand from food and beverage and chemical industries increasing in countries, such as China, India, and Japan, the usage of cryogenic valves is increasing in the region.
The consumption of cryogenic valves is high in oil and gas, and downstream production has increased in China. This is further increasing the production capacities of petrochemicals, thus augmenting the consumption of cryogenic valves in the country.
Chemicals production is another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. These companies have increased their production capacities to meet the increasing demand.
The oil and gas industry in India is growing robustly with major players making investments to cater to burgeoning demand. The industry was expected to attract USD 25 billion investments for production and exploration activities by 2022.
The aforementioned factors, coupled with government support in these countries, are expected to contribute to the increasing demand for cryogenic valves in the region during the forecast period.
Cryogenic Valves Industry Overview
The cryogenic valves market is fragmented in nature. Some of the major players in the market include Parker Hannifin Corp., Emerson Electric Co., Velan Inc., Baker Hughes (a GE Company), and Flowserve Corporation, among others.
Cryogenic Valves Market Leaders
Emerson Electric Co.
Velan Inc.
Baker Hughes
Flowserve Corporation
Parker Hannifin Corp
*Disclaimer: Major Players sorted in no particular order
Cryogenic Valves Market News
- The recent developments pertaining to the major players in the market are covered in the complete study.
Cryogenic Valves Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Industrial Gases
4.1.2 Growing Demand from Chemicals Industry
4.2 Restraints
4.2.1 Safety Concerns Regarding Operation of Liquefied Gases
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Ball Valve
5.1.2 Check Valve
5.1.3 Gate Valve
5.1.4 Globe Valve
5.1.5 Other Product Types
5.2 Gas
5.2.1 Liquid Nitrogen
5.2.2 Liquid Helium
5.2.3 Hydrogen
5.2.4 Oxygen
5.2.5 Other Gases
5.3 End-user Industry
5.3.1 Chemicals
5.3.2 Oil and Gas
5.3.3 Energy and Power
5.3.4 Food and Beverage
5.3.5 Medical
5.3.6 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 US
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 UK
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bac Valves
6.4.2 Baker Hughes (General Electric)
6.4.3 Bray International
6.4.4 Cryofab
6.4.5 ECI LLC
6.4.6 Emerson Electric Co.
6.4.7 Flowserve Corporation
6.4.8 Habonim Industrial Valves & Actuators Ltd
6.4.9 Herose GmbH
6.4.10 L&T Valves Limited
6.4.11 Meca-Inox
6.4.12 Parker Hannifin Corp.
6.4.13 Powell Valves
6.4.14 Samson AG
6.4.15 Velan Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand from LNG Gas Sector
Cryogenic Valves Industry Segmentation
A cryogenic valve is generally designed to react to high pressure, which pushes the valve into an open position to allow the gas or other media to flow readily through. The market is segmented by product type, gas, end-user industry, and geography. By product type, the market is segmented into ball valve, check valve, gate valve, globe valve, and other product types. By gas, the market is segmented into liquid nitrogen, liquid helium, hydrogen, oxygen, and other gases. By end-user industry, the market is segmented int chemicals, oil and gas, energy and power, food and beverage, medical, and other end-user industries. The report also covers the size and forecasts for the cryogenic valves market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Product Type | |
| Ball Valve | |
| Check Valve | |
| Gate Valve | |
| Globe Valve | |
| Other Product Types |
| Gas | |
| Liquid Nitrogen | |
| Liquid Helium | |
| Hydrogen | |
| Oxygen | |
| Other Gases |
| End-user Industry | |
| Chemicals | |
| Oil and Gas | |
| Energy and Power | |
| Food and Beverage | |
| Medical | |
| Other End-user Industries |
| Geography | |||||||
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Cryogenic Valves Market Research FAQs
What is the current Cryogenic Valves Market size?
The Cryogenic Valves Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Cryogenic Valves Market?
Emerson Electric Co., Velan Inc., Baker Hughes, Flowserve Corporation and Parker Hannifin Corp are the major companies operating in the Cryogenic Valves Market.
Which is the fastest growing region in Cryogenic Valves Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cryogenic Valves Market?
In 2024, the Asia-Pacific accounts for the largest market share in Cryogenic Valves Market.
What years does this Cryogenic Valves Market cover?
The report covers the Cryogenic Valves Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cryogenic Valves Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cryogenic Valves Industry Report
Statistics for the 2024 Cryogenic Valves market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cryogenic Valves analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
