The increasing demand for natural gas and LPG is expected to propel growth of the cryogenic valve market, says Fortune Business Insights in a report, titled “Cryogenic Valve Market Size, Share and Global Trend By Type (Gate, Globe, Ball, Butterfly, Others), By Application (Transfer Lines, Manifolds & Gas Trains, Tanks & Cold Boxes, Others), By End-User (Oil & Gas, Chemical, Food and Beverage, Others) and Geography Forecast till 2026.” The surge in oil and gas activities is expected to boost the market.
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Some Of The Major Companies That Are Present In The Cryogenic Valve Market are:
- Habonim Industrial Valves & Actuators LTD
- Herose GmbH
- Bray International Inc.
- KITZ Corporation
- Weka AG.
- Hy-Lok USA
- L&T Valves
- Red Point Alloys
- ValvTechnologies Inc.
- PBM INC.
- Valve Solutions
- Blackhall Engineering Limited
- ACME Cryogenics
- Flowserve Corporation
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Key Industry Developments
- In March 2019, The Indian shipping ministry has issued guidelines for setting up Floating Storage Regasification Units (FSRU) for handling Liquefied Natural Gas (LNG) cargo at major port trusts.
- In December 2018, Emerson announced it has acquired Advanced Engineering Valves (A.E. Valves), a manufacturer of valve technology that helps LNG customers operate more efficiently.
As per the report, on the basis of type, the cryogenic valve market is segmented into the gate valve, globe valve, ball valve, butterfly valve, and others. On the basis of application, cryogenic valve technologies is segmented into transfer lines, manifolds & gas trains, tanks & cold boxes, and others. On the basis of end-user, the market is segmented into oil & gas, chemical, food, and beverage, and others. The increasing demand for oil & gas will aid the growth of the market. In addition, several research organizations and universities use cryogenic valves for research and development activities. This factor will enable the growth of the market.
The report focuses on all the characteristics and provides articulate data on the cryogenic valve market. The study is completed after intense analyzation to benefit companies and investors, considering to participate and invest in the market. It comprises of market drivers, segmentation, market drivers, industrial development and restricting factors.
Increasing Demand for Natural Gas Will Enable Growth
The growing demand for LPG and natural gas is predicted to propel the growth of the market. The increasing floating storage regasification units (FSRU) & floating production storage and offloading (FPSO) will contribute to the growth of the market. Cryogenic valves are extensively used in FSRU and FPSO. The new guidelines by the Indian shipping ministry is expected to aid the growth of the market. For instance, the Indian shipping ministry has issued guidelines for setting up Floating Storage Regasification Units (FSRU) for handling Liquefied Natural Gas (LNG) cargo at major port trusts. Furthermore, the acquisition of Emerson will support the growth of the market. For instance, Emerson announced it has acquired Advanced Engineering Valves (A.E. Valves), a manufacturer of valve technology that helps LNG customers operate more efficiently. However, the high cost of raw materials and special alloys that are used for low-tempe
Key Market Driver – Growing demand for natural gas and LPG
Key Market Restraint – High investment costs
Surge In Chemical Processing Units Will Accelerate Growth In Asia Pacific
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific will witness high growth during the forecast period owing to the increasing demand and growing use of LNG. The surge in chemical processing units, an increase in oil & gas downstream activities along with manufacturing output will accelerate the growth of the market. Africa has the highest potential for the cryogenic valve market in the coming year. Middle-Eastern countries will provide steady growth for the cryogenic valve market owing to the increasing demand for LNG. The surge in shale gas exploration activities and extraction in North America is expected to positively contribute to the market growth. Increasing R&D activities in North America and Europe is expected to further boost the market. The surge in space activities in the USA, China, India, Japan, and others will further fuel demand for the cryogenic valve market in the future.
Major Table of Content For Cryogenic Valve Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- North America Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- Europe Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- Asia Pacific Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- Latin America Cryogenic Valve Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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