Cryogenic Valve Industry Highlights
Cryogenic Valve Market is expected to witness substantial growth during the forecast period, as the trend is moving towards harnessing energy from LNG, which is non-toxic and eco-friendly. Hence, cryogenic valve market is growing rapidly. Cryogenic valve 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 Market 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.
Industries are using LNG as source of energy, while rise in on-site production plants for industrial gases and devlopment in industrial infrastructure is driving the market growth during the forecast period. Apart from power generation industry natural gas is also used in chemical, food & beverage, marine, stell manufacturing industries which drives the market growth. The LNG segment held the largest market in 2017 and is expected to grow at the fastest CAGR during the forecast period.
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Segmental Analysis
The global cryogenic valve market has been segmented based on gas, type, end-user, application, and region.
Based on gas, the market is classified into LNG, oxygen, nitrogen and others. LNG segment is leading the market and has the largest market share, mainly due to its non-flammable characteristics and easy transformation from natural gas to LNG and vice-versa which allows to use at wide range of application such as power generation, industrial uses and alternative transportation fuel.
Based on type, the market is segmented as globe, gate, ball, check and others. Ball valve segment dominates the market as it provides efficient heat transfer capability, provides additional blow out protection when assembled with viton stem seals, double sealing provides more reliability and security of operation. It has a good flow characteristic over other valves.
The cryogenic valve market is further segmented based on end-user, including energy & power, food & beverage, chemicals and others. Energy & power segment is dominating the market mainly due to large application of natural gas for power generation, Hence, it is anticipated to dominate the cryogenic valve market globally.
Prominent Players
- Flowserve Corporation (US)
- Herose Gmbh (Germany)
- Emerson Electric Co (US)
- L&T 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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LIST OF FIGURES
Figure 1 Global Cryogenic Valve Market: Market Structure
Figure 2 Research Mobility Of MRFR
Figure 3 Top Down & Bottom Up Approach
Figure 4 Droc Analysis Of Global Cryogenic Valve Market
Figure 6 Drivers Impact Analysis: Cryogenic Valve Market
Figure 6 Restraints Impact Analysis: Cryogenic Valve Market
Figure 7 Value Chain: Cryogenic Valve Market
Figure 8 Porter’s Five Forces Analysis Of The Global Cryogenic Valve Market
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