Press release
Cryogenic Valves Market Poised for 4.9% CAGR Growth, projected to Reach USD 6,306.9 million by 2035
Cryogenic Valves Market
The market for cryogenic valves is expected to grow significantly due to the growing need for industrial gases, the development of LNG infrastructure, and the rise in cryogenic applications in a variety of industries. The sector's estimated market size is USD 3,909.0 million in 2025 and is predicted to expand at a compound annual growth rate (CAGR) of 4.9% to reach USD 6,306.9 million by 2035. It is anticipated that the growing use of cryogenic technology in the energy, healthcare, and space exploration sectors will support this consistent expansion.
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Besides, growth can be attributed to the ongoing expansion of the industrial and healthcare sectors worldwide.
Increasing demand for cryogenic gases such as LNG and liquid helium in rockets is likely to augur well for the global market. Also, MRI machines require cryogenic cooling, while the food sector needs to store large quantities of food, which would aid growth. The increasing development of green energy worldwide is also expected to drive growth.
Moreover, increasing demand for energy across the globe is likely to aid the global market. Governments of various emerging economies are taking several initiatives to accelerate power production and develop their infrastructures. As per the India Brand Equity Foundation (IBEF), by 2022, the country is likely to become the world's third largest construction market. India is estimated to need investments worth USD 777.73 Billion across infrastructure for a sustainable development by 2022. These factors are projected to help the global market to grow at a rapid pace.
Key Takeaways from the Market Study
• By valve type, the gate valves segment is expected to grow at a CAGR of 9% during the forecast period.
• By gas, the LNG gas segment is anticipated to dominate the market and account for about 1/3rd of share.
• By end use, the power & energy segment is projected to lead the cryogenic valves market and create an absolute dollar opportunity worth USD 128.8 Million during the forecast period.
• In terms of region, sales of cryogenic valves in South Asia & Pacific are estimated to exhibit a CAGR of 0%.
• The China cryogenic valves market is estimated to grow at a CAGR of 7% in the assessment period.
"Increasing implementation of stringent regulations for emission control in the power generation sector and rising adoption of refrigeration systems in the F&B sector are creating new growth opportunities for cryogenic valves manufacturers," says a Future Market Insights analyst.
Competitive Landscape: Cryogenic Valves Market
Some of the key players in the global market are Flowserve Corp., Herose, Emerson Electric, L&T, Samson, Cryocomp, Habonim, Parker Hennafin, Bray Corp.,Velan, Weir Group, Powell Valves LTD., BAC, Kitz Corporation, Mack Valves, YPS Valves Ltd, and OMB Valves SpA among others. Manufacturers are strategically collaborating with technology partners for maintaining strong relations. They are also looking forward to helping the oil and gas industry by providing technologically advanced products.
Get More Insights on the Cryogenic Valves Market
The research report analyses the market demand trend for cryogenic valves. The global market is based on macroeconomic factors, market trends & market background. As per Future Market Insights' research scope, the cryogenic valves market report is studied and analyzed in the following segments such as by valve type, by gas, end use & regions. The cryogenic valves market report gives us qualitative and quantitative information about the companies.
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Key Segments Covered in Cryogenic Valves Market Analysis
By Valve Type:
• Globe Valve
• Gate Valve
• Check Valve
• Ball Valve
• Others
By Gas Type:
• Nitrogen
• LNG
• Oxygen
• Hydrogen
• Liquid Petroleum
• Ethylene
By End Use:
• Food & Beverage
• Healthcare
• Chemicals
• Energy & Power
• Others
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia and the Pacific
• Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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