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The global cryogenic valves market reached a value of US$ 1.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.43 Billion by 2027, exhibiting at a CAGR of 4.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cryogenic valves are designed to be utilized in air separation, chemical, or liquified natural gas (LNG) plants. They open in high-pressure conditions and allow the free flow of the gases until the pressure reduces. They assist in reducing the heat that enters the valve from outside, thereby keeping the packing gland temperature above 0 degrees Celsius and avoiding the stem and parts above the bonnet from freezing or frosting. At present, they are widely available in a variety of shapes and sizes to function under different pressure ranges.
A considerable rise in the utilization of cryogenic valves in the oil and gas industry represents one of the key factors strengthening the growth of the market. This can also be accredited to the growing recovery of oil production activities, which is further contributing to an increase in the production capacities of petrochemicals across the globe. Cryogenic valves are employed to store and transport cryogenic gases safely and efficiently. They are mainly designed for suitable integrity pressure protection and emergency shutdowns in temperatures as low as -196 degrees Celsius. Apart from this, cryogenic valves are effective, relatively inexpensive and they do not affect the color, taste, and flavors of the food. As a result, they are increasingly being employed in the food and beverage (F&B) industry. This, coupled with the burgeoning F&B sector, is supporting the market growth. Furthermore, cryogenic gases are extensively utilized for cryosurgery in the healthcare industry, which is positively influencing the sales of cryogenic valves around the world. Besides this, the market is also driven by product applications in rock concerts and theater stages worldwide.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cryogenic valves market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, gas and end use industry.
Breakup by Product:
Breakup by Gas:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bac Valves, Bray International Inc., Cryofab, Emerson Electric Co., Flowserve Corporation, Habonim, Herose GmbH, L&T Valves Limited (Larsen & Toubro Limited), Parker-Hannifin Corporation, Powell Valves, Samson Aktiengesellschaft, Schlumberger Limited, The Weir Group PLC and Velan Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Gas, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Bac Valves, Bray International Inc., Cryofab, Emerson Electric Co., Flowserve Corporation, Habonim, Herose GmbH, L&T Valves Limited (Larsen & Toubro Limited), Parker-Hannifin Corporation, Powell Valves, Samson Aktiengesellschaft, Schlumberger Limited, The Weir Group PLC and Velan Inc|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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