Market Research Future published a half-cooked research report on global Cryogenic Valve market. The cryogenic valve market is expected to expand at 4.49% CAGR during the period 2018 to 2023
Market Highlights
Cryogenic Valve Market is generally used for transportation and storage applications by various industries. These valves are utilized in very low temperature or extreme cold applications either to store or transport the LNG in various industries. Cryogenic valve is used in various applications such as Liquefied Ethylene, Propylene and LPG applications. LNG is the major segment which holds largest market share, as natural gas is considered as the primary source of power generation and used in wide range of application in industries such as food beverage, storage equipment, aerospace for storage and piping the cryogenic tanks.
Based on gas, the market is segmented as LNG, oxygen, nitrogen and others. LNG segment is estimated to dominate the market during the forecast period, due to the increasing demand of LNG across various verticals such automotive, pharmaceuticals, etc. Considering the segment by type, the market is segmented as globe, gate, ball, check and others. Ball valve type segment is estimated to dominate the market during the forecast period due to its efficient heat transfer capability, additional blow out protection and better flow characteristics than other valves. Based on end-user, the market is segmented as energy power, food beverage industry, chemical and others. Energy power segment lead the market due to wide application of cryogenic valve in the liquefication and power plants.
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The Global Cryogenic Valve Market is expected to grow at 4.49% CAGR during the forecast period.
Drivers
Market Research Analysis
Asia-Pacific region accounts for the largest market share during the forecast period
Region wise, Asia-Pacific held the largest market share of the global Global Cryogenic Valve Market in 2017. It is estimated that Asia-Pacific region will continue to dominate the market during the forecast period, mainly due to the rising demand from China, India, Australia, and Japan as they have increase in LNG imports, power generation from natural gas and storage applications which has emerged the demand for cryogenic valve market. Hence, It has been estimated that Asia-Pacific region will continue to dominate the market growth during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global cryogenic valve market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Europe, Asia-Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the cryogenic valve market by its gas, type, end-user, application and region.
By Gas
- LNG
- Oxygen
- Nitrogen
- Others
By Type
- Globe
- Gate
- Ball
- Check
- Others
By End-User
- Energy Power
- Food Beverage
- Chemicals
- Others
By Application
- Tanks Cold Boxes
- Transfer lines
- Manifolds Gas Trains
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
Key Players
- Flowserve Corporation (US)
- Herose Gmbh (Germany)
- Emerson Electric Co (US)
- LT Valves Limited. (India)
- Samson Controls Inc. (US)
- Cryocomp (US)
- Parker Hannifin Corp (US)
- The Weir Group PLC (UK)
- Velan Inc (Canada)
- Bray International (US)
- Bac Valves (Spain)
- Powell Valves (US)
- Valco Group (France).
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