Cryogenic Valves Market by Type, Gas, Application, End-User

List of Tables

[182 Pages Report] The Cryogenic Valves Market size was estimated at USD 3.87 billion in 2023 and expected to reach USD 4.11 billion in 2024, at a CAGR 6.40% to reach USD 5.98 billion by 2030.

A cryogenic valve is a specialized system component that handles extremely low-temperature fluids, typically below -150°C. These valves are designed to operate efficiently and reliably in demanding environments where maintaining a high level of temperature control is essential for the system's safety and performance. The growing demand for LNG in industries such as power generation directly influences the need for reliable cryogenic valves. However, high costs associated with raw materials, manufacturing processes, and stringent safety regulations may pose barriers to entry for smaller businesses within this market space. Nevertheless, advancements in material science offer potential improvements in durability against erosion/corrosion caused by cryogenic substances, resulting in higher efficiency and longer service life for the equipment. Moreover, as governments focus on reducing their carbon footprint, companies in the energy sector have begun to invest more heavily in research around renewable and clean energy sources, creating lucrative opportunities for the cryogenic valve market.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.87 billion
Estimated Year [2024]	USD 4.11 billion
Forecast Year [2030]	USD 5.98 billion
CAGR (%)	6.40%

Type: Increasing preference for the ball valves due to their tight shutoff capabilities for applications requiring quick and precise flow control

A ball valve is a cryogenic valve that utilizes a spherical disc to control the flow of liquids or gases at extremely low temperatures. It is widely used in natural gas processing, liquefied gas transportation, and storage facilities. A check valve prevents backflow by allowing fluids to flow in one direction only. They are commonly used in cryogenic systems such as LNG plants, air separation plants, and rocket propulsion technologies. A gate valve features a sliding plate that can be lifted or lowered to control fluid flow between two chambers or pipes in cryogenic applications such as petrochemical plants or industrial gas handling systems. These valves are preferred for their ability to provide full flow with minimal resistance, making them optimal for applications requiring uninterrupted flow and low-pressure loss. Globe valves regulate fluid flow by using a movable disc or plug that seats against a stationary ring seat. They are often used in cryogenic systems for throttling and regulating precise flow control, such as in natural gas processing plants or chemical facilities. These valves can handle high-pressure drops while maintaining accurate control over fluid flow rates.

Gas: Growing preference of cryogenic valves for Liquid Petroleum Gas (LPG)

Ethylene is a crucial feedstock gas used in the petrochemical industry for producing polyethylene and other plastics. Cryogenic valves help control pressure and flow during ethylene production and transportation at low temperatures such as -103°C. With the increasing focus on clean energy generation, hydrogen's usage as an alternative fuel has propelled the demand for efficient storage and transportation infrastructure, necessitating cryogenic valves to ensure the safe handling of hydrogen at -253°C. Liquid petroleum gas (LPG) is used for heating purposes in residential and commercial establishments. Transporting LPG under extreme cold conditions requires robust cryogenic valve systems capable of withstanding up to 40 bar pressures. Liquefied natural gas (LNG) is an essential energy source for powering industries and generating electricity. Cryogenic valves are employed extensively across LNG facilities for handling temperature variations as low as -162°C. Nitrogen is an inert gas with various applications, such as food preservation and electronics manufacturing. Cryogenic valves are indispensable for regulating nitrogen flow during storage and transportation at -196°C. Oxygen's widespread demand in healthcare, steelmaking, and water treatment industries necessitates efficient cryogenic valve systems for handling storage temperatures down to -183°C.

Application: Proliferating application of cryogenic valves in liquefiers due to their high thermal properties and extended service life

Cryogenic valves play a crucial role in liquefiers, which convert gases such as nitrogen or helium into liquid forms at extremely low temperatures. These applications require precise temperature control and high-performance sealing materials to ensure safety and efficiency. Cryogenic valves from stainless steel or brass with specialized seals, such as PTFE or metal-seated ones, are preferred due to their thermal properties and long service life. Manifolds and gas trains are essential components of cryogenic gas distribution systems that enable controlled gas flow and pressure management across multiple points. Cryogenic valves in these applications can handle rapid temperature fluctuations while providing accurate pressure control. Cryogenic tanks and cold boxes store and preserve ultra-low temperature liquids such as liquid nitrogen or oxygen before they're transported or utilized in various industrial processes. Cryogenic valves in these storage systems maintain proper pressure levels inside the container and facilitate safe transfer operations. Transfer lines are critical components of cryogenic systems responsible for channeling ultra-low temperature fluids safely from storage units to end-use applications, and the cryogenic valves utilized in transfer lines provide leak-tight shut-off performance while maintaining minimal heat gain or loss.

End-User: Burgeoning utilization of cryogenic valves in energy & power industry

Cryogenic valves are used in the chemical industry for handling extremely low-temperature processes involving liquefied gases such as nitrogen, oxygen, argon, and carbon dioxide. These valves ensure safety during transporting and storing these chemicals by maintaining high-quality sealing to prevent leakage. The energy & power industry is gradually adopting liquefied natural gas (LNG) as cleaner alternative to traditional fossil fuels. Cryogenic valves are essential in LNG terminals' storage and regasification processes by ensuring tight shut-off capabilities and minimal fugitive emissions loss. Cryogenic valves are indispensable in the food & beverage industry because they preserve perishable goods through cryogenic freezing techniques. These valves regulate the flow of liquid nitrogen or carbon dioxide in food processing plants to ensure accurate temperature control and enhanced product quality. In healthcare applications, cryogenic valves are essential for storing and transporting biological samples such as blood, tissues, and vaccines at ultra-low temperatures. These valves provide precise temperature control inside cryo-storage tanks and dewars while ensuring sample integrity during long-term storage.

Regional Insights

In the Americas region, increasing demand for natural gas and investment in industrial gas facilities, considering the United States & Canada, has major contributed to increasing demand related to cryogenic valves. The US maintains a significant share in global LNG exports fueled by production capacity from shale reserves, while Canada's oil sands projects and investments in LNG terminals further drive demand for cryogenic valves. In Europe, many developed economies are investing heavily in developing their LNG infrastructures to meet stringent environmental regulations that promote the adoption of eco-friendly alternatives, including LNG fuel for public transport systems. Innovations, including cryogenic floating ball valves, enhance efficiency while adhering to strict safety standards set by European directives. Vast natural gas reserves in Middle Eastern countries necessitate efficient transportation systems equipped with advanced cryogenic valves that withstand extreme temperatures and harsh working conditions. The Asia Pacific region showcases an opportunistic landscape as major economies are experiencing an increase in demand for industrial gases due to tremendous growth in their respective manufacturing sectors fueled by urbanization and industrialization trends.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Cryogenic Valves Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Cryogenic Valves Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Cryogenic Valves Market, highlighting leading vendors and their innovative profiles. These include BAC Valves SA, Bray International, Cryofab, Inc., Dembla Valves Ltd., DeZURIK, Inc., DFL ITALIA SRL, DomBor Valves, ECI LLC, Emerson Electric Co., Enggpro Business Solutions Private Limited, Flowserve Corporation, General Electric Company, Generant Inc., H.P. Valves Pvt. Ltd., Habonim Industrial Valves & Actuators Ltd., Herose GmbH, L&T Valves Limited, Meca-Inox, MOGAS Industries, Inc., Novel Valves India Pvt. Ltd., Oswal Industries Limited, Parker Hannifin Corporation, Powell Valves, Rotarex S.A., Samson AG, Schlumberger NV, Valco Group, Valcor Engineering Corporation, Weir Group PLC, and XINTAI Valve Group Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Cryogenic Valves Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Ball Valve
- Check Valve
- Gate Valve
- Globe Valve

Gas
- Ethylene
- Hydrogen
- Liquid Petroleum
- LNG
- Nitrogen
- Oxygen

Application
- Liquefiers
- Manifolds & Gas Trains
- Tanks & Cold Boxes
- Transfer Lines

End-User
- Chemicals
- Energy & Power
- Food & Beverage
- Healthcare

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Cryogenic Valves Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Cryogenic Valves Market?

3. What are the technology trends and regulatory frameworks in the Cryogenic Valves Market?

4. What is the market share of the leading vendors in the Cryogenic Valves Market?

5. Which modes and strategic moves are suitable for entering the Cryogenic Valves Market?

Product Code: MRR-4659C8712A62

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing use of cryogenic valves across oil and gas sector
  - 5.1.1.2. Rise in import and export of cryogenic gases
  - 5.1.1.3. High demand for cryogenic valves in chemical sector
- 5.1.2. Restraints
  - 5.1.2.1. High prices of cryogenic valves
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing developments in advanced cryogenic valves
  - 5.1.3.2. Growing research in hydrogen fuel production and storage
- 5.1.4. Challenges
  - 5.1.4.1. Safety concerns associated with cryogenic valves
5.2. Market Segmentation Analysis
- 5.2.1. Type: Increasing preference for the ball valves due to their tight shutoff capabilities for applications requiring quick and precise flow control
- 5.2.2. Gas: Growing preference of cryogenic valves for Liquid Petroleum Gas (LPG)
- 5.2.3. Application: Proliferating application of cryogenic valves in liquefiers due to their high thermal properties and extended service life
- 5.2.4. End-User: Burgeoning utilization of cryogenic valves in energy & power industry
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Cryogenic Valves Market, by Type

6.1. Introduction
6.2. Ball Valve
6.3. Check Valve
6.4. Gate Valve
6.5. Globe Valve

7. Cryogenic Valves Market, by Gas

7.1. Introduction
7.2. Ethylene
7.3. Hydrogen
7.4. Liquid Petroleum
7.5. LNG
7.6. Nitrogen
7.7. Oxygen

8. Cryogenic Valves Market, by Application

8.1. Introduction
8.2. Liquefiers
8.3. Manifolds & Gas Trains
8.4. Tanks & Cold Boxes
8.5. Transfer Lines

9. Cryogenic Valves Market, by End-User

9.1. Introduction
9.2. Chemicals
9.3. Energy & Power
9.4. Food & Beverage
9.5. Healthcare

10. Americas Cryogenic Valves Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Cryogenic Valves Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Cryogenic Valves Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Parker Introduces New Catalogue Featuring Bestobell Cryogenic Valves for Industrial Gas Applications
- 13.3.2. Flowserve to Acquire Canadian Valve Maker Velan in USD 245 Million Deal
- 13.3.3. Crane Inaugurates Its New Engineered Check Valves Facility in Satara, Maharashtra
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio