Cryogenic Valve Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Cryogenic Valve Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : September, 2020 | Energy & Mining | PPT format

Report Digest


Cryogenic Valve Market - Snapshot

Cryogenic Valves are made to be utilized in extremely cold applications. The size of the global cryogenic valve market is likely to be expanded by its rising demand from firms that deal with Compressed Natural Gas (CNG) or Liquefied Natural Gas (LNG). In addition to that, a few of the gases do not fall under the category of 'cryogenic' gases owing to their temperature. However, those gases are need more pressure for compression of their volume. Increased demand to store and carry such cryogenic gasses efficiently, and safely are estimated to benefit the growth of the global cryogenic valve market in years to come.

Unlike other conventional valves, cryogenic valves are capable of working efficiently both under extremely low temperatures and high temperatures as well. The performance of these valves remain outstanding under both such conditions and this is likely to trigger growth of the global cryogenic valve market in near future.

There are five different types of cryogenic valves available in the global cryogenic valve market. These are:

  • Globe Valves - The spherical shaped cryogenic valves provide substantial trustability in connection with long-term sealing performance. However these valves are vulnerable to moisture and do not serve well in condition where the flow rate is of utmost importance.
  • Ball Valves – This type of valves makes use of a ball as the obturator and mostly uses teflon for the purpose of body seat. They come with improved flow characteristics as compared to globe valves. However, these are more inclined to wear and tear.
  • Top Entry Ball Valves – These valves are more or less similar to the ball valves. These valves come with easy maintenance and are used in applications that are fire safe.
  • Gate Valves - Gate valves are also similar to ball valves but they provide excellent flow characteristics. However, they are also highly prone to wear and tear.
  • Butterfly Valves- Butterfly valves are generally shorter in length as compared to other types of valves. They also come cheaper and lighter than other valve options in the market. They are also quicker and easier to work with than other types of cryogenic valves.

Asia Pacific region is likely to emerge as a rapidly growing region in the global cryogenic valve market due to humongous demand for LNG in the region.

Global Cryogenic Valve Market: Overview

Cryogenic valves are the special-purpose valves that find usage in products that are used to store and transport a variety of gases that take up much lesser space or are easier or more convenient to handle and/or transport when cooled at cryogenic temperatures, such as natural gas, oxygen, nitrogen, hydrogen, and helium. Inland and offshore transportation and on-site and off-site storage of these gases constitute a big chunk of the overall revenue of the global cryogenic valves market.

This report is a thorough analytical study of the past and present growth dynamics of the global market for cryogenic valves. The report is an in-depth and professional overview of the cryogenic valves market, with a lucid region-wise breakdown of the market for added clarity.

Global Cryogenic Valve Market: Trends and Opportunities

In the recent years, the demand for cryogenic valves has significantly increased across the energy and power industry owing to the rising uptake of liquefied natural gas across a number of industrial applications. The market will also benefit over the forecast period from the continuous rise in the array of industrial gas applications. A vast rise in the number of production plants producing industrial gases such as nitrogen, oxygen, helium, argon, and carbon dioxide has been seen across the globe in the past few years. The number of on-site production plants for industrial gases is also on a rise globally. These factors are also expected to provide a huge boost to the global demand for a variety of cryogenic valves, driving the global market.

However, stringent quality- and safety-related standards that need to be followed to manufacture and market cryogenic valves can add massively to the base cost of cryogenic valves. However, the market has become highly competitive in the past few years are companies are looking into ways of providing consumers economical products. These pressures could negatively affect the profitability of companies operating in the global cryogenic valve market to a certain degree.

Global Cryogenic Valve Market: Segmentation

The report segments the global cryogenic valves market on the basis of criteria such as gas, end-use industry, valve type, application, and geography. Based on gas, the market has been segmented into varieties such as nitrogen, natural gas, oxygen, hydrogen, and helium. Based on the type of cryogenic valve available in the global market, the report covers varieties such as butterfly valves, ball valves, globe valves, and gate valves. On the basis of end-use industry, the report segments the global cryogenic valve market into energy and power, food and beverages, and chemicals. In terms of application, the market has been studied for cryogenic boxes, cryogenic tanks, gas trains, and transfer lines.

It is estimated that the segment of natural gas in terms of gas types will help the global cryogenic valve market acquire its dominant share in revenue. In terms of product type, the segment of ball valves will account for the dominant share in revenue. In terms of end-use, the energy and power sector will continue to remain the key consumer. From a geographical standpoint, the market in Asia Pacific is expected to account for the dominant share in global revenue, thanks to the massive rise in demand for LNG and several chemicals in rapidly industrializing emerging economies such as India and China.

Global Cryogenic Valve Market: Competitive Dynamics

The report also presents a detailed analysis of the competitive landscape of the global cryogenic valves market, profiling some of the key vendors in the market. Leading vendors operating in the global cryogenic valves market are Parker, Emerson, Schlumberger, Flowserve, and Weir Group.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.