About Cryogenic Valves
Cryogenic valves are the arrangements which are used in very cold applications. Therefore used in companies that work with Liquefied Natural Gas (LPG) or Compressed Natural Gas (CNG). Cryogenic valves facilitate transport and store cryogenic gases safely and efficiently. Valves basically regulate the flow of liquids, gasses, or any kind of fluidized solid, they are an essential part of pipelines and multiple processes across many industries. Following Industries such as chemical, power, metalworking, and oil and gas.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.45% |
As the fuelling system is one of an important factors in day to day life the cryogenic valves are important in the transportation of LPG and CNG gaseous. Industries such as chemical, power, metalworking, oil, and gas all have an increasing demand for innovative valves that meet the sectors’ requirements. To fulfill these demands, the valve production sector needs to substantially lower fabrication costs and the development time, while keeping up with the industry’s innovations. The competition between leading companies is due to innovation and efficient workings of valves are the major factors increasing competition. These making companies to rely on mergers and acquisition options to earn the profit and thrive in the market. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Cryogenic Valves market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
The Weir Group Plc (United Kingdom), Parker Hannifin Manufacturing Ltd (United States), L&T Valves (India), Habonim (Israel), Emerson Electric Co (United States), Flowserve Corporation (United States), Velan Inc (Canada), Bray International (United States), Samson Controls Inc (United States) and Cryocomp (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Cryofab Inc (United States), INOXCVA (India), Powell Valves (United States), Bac Valves (United States) and Herose (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Cryogenic Valves market by Type (Standard valves and Automatic valves), Application (Gas Transport , Ethylene Transport , Liquid Oxygen Transport , Air Separation Equipment , Liquid Nitrogen Storage Tank and Others) and Region.
On the basis of geography, the market of Cryogenic Valves has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Specification, the sub-segment i.e. Globe Valves will boost the Cryogenic Valves market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Food Industry will boost the Cryogenic Valves market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Intelligent Control System Networking Capability For Valve Most Powerful Valve Trend, High Demand Of Control Valves It Is One Of The Main Valve In Design Trends and Smart Valves Are Gaining Popularity
Market Growth Drivers:
Growing Demand In Automatic Cryogenic Valves, High-Performance Globe Valve To Overcome The Problems Of The Conventional Globe and Cost-Efficient Product
Challenges:
Avoid Auxiliary Deforming At The Low Temperature To Prevent Leakage
Restraints:
High Leakage Rate and Problems Like Safety Requirements
Opportunities:
Enhanced Technology In Transportation Of Gas and LPG And CNG Are Demanded More Than Other Fuels
Market Leaders and their expansionary development strategies
In October 2023, Flowserve Corporation and Baker Hughes entered into a strategic partnership to develop and commercialize next-generation cryogenic valves for LNG applications.
In December 2021, Valcor Engineering Corporation released a new white paper on Cryogenic Launch Vehicle Valves. This paper discusses the challenges of designing valves for launch vehicle applications, focusing on cryogenic rocket propellants.
Electronic code of federal regulations e-CFR has currently given following regulations accordingly For Compressed gases the in-plant handling, storage, and utilization of all compressed gases in cylinders, portable tanks, rail tank-cars, or motor vehicle cargo tanks shall be in accordance with Compressed Gas Association Pamphlet P-1-1965, which is incorporated by reference in regulations.
Key Target Audience
Government Bodies, Research Center, Potential Investors, New Entrants and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.