Cryogenic valves are designed to be used in very cold applications. Hence these are mostly found to be useful in companies that work with Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG). They are increasingly used in various end-use industries. Cryogenic valves are kept in a natural closed position to keep cryogenic gasses or other medium secure and safely contained. Cryogenic valves are available in a variety of shapes and sizes to be able to function under different pressure ranges. Some of the commonly used cryogenic valves are Ball Valve, Check Valve, Gate Valve, and Globe Valve, among others.
Increase in oil and gas exploration activities around the world, increase demand for cryogenic valves from various end-use industries, increase in energy demand, increasing consumption of industrial/natural gases, and favorable government initiatives are some major factors expected to aid in the growth of the global cryogenic valves market.
The Government of India has adopted several policies to fulfil the increasing demand. It has allowed 100% Foreign Direct Investment (FDI) in many segments of the sector, including natural gas, petroleum products and refineries, among others.
In May 2022, Oil and Natural Gas Corporation (ONGC) planned to invest US$ 4 billion from FY22-25 to increase its exploration efforts in India. In November 2021, ONGC announced that it invested up to Rs. 6,000 crore (US$ 800 million) in its petrochemicals arm (ONGC Petro Additions Ltd.) to meet its equity requirements.
Key features of the study:
- This report provides in-depth analysis of the global cryogenic valves market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global cryogenic valves market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Velan Inc., Samson AG, Parker Hannifin Corp., L&T Valves Limited, Herose GmbH, Flowserve Corporation, Emerson Electric Co., ECI LLC, Cryofab, Bray International, Baker Hughes (General Electric), Bac Valves, Powell Valves, Meca-Inox, and Habonim Industrial Valves & Actuators Ltd., among others.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type upgradation, market expansion, and marketing tactics.
- The global cryogenic valves market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cryogenic valves market.
- Global Cryogenic Valves Market By Product Type:
- Ball Valve
- Check Valve
- Gate Valve
- Globe Valve
- Global Cryogenic Valves Market By Gas:
- Liquefied Natural Gas
- Liquid Nitrogen
- Other Gases
- Global Cryogenic Valves Market By End-User Industry:
- Oil and Gas
- Energy and Power
- Food and Beverages
- Other End-user Industries
- Global Cryogenic Valves Market By Geography:
- North America
- Middle East and Africa
- South America
- Company Profiles:
- Velan Inc.
- Samson AG
- Parker Hannifin Corp.
- L&T Valves Limited
- Herose GmbH
- Flowserve Corporation
- Emerson Electric Co.
- ECI LLC
- Bray International
- Baker Hughes (General Electric)
- Bac Valves
- Powell Valves
- Habonim Industrial Valves & Actuators Ltd.