Global Cryogenic Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Cryogenic Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Cryogenic valves are valves that are used in extremely cold applications. Cryogenic valves are available in a variety of shapes and sizes to be able to function under different pressure ranges. Cryogenic valves are usually kept closed in order to contain the gases safely. It is designed to open in high pressure conditions and allow free flow of the gases until the pressure reduces when it seals using a metal seat to prevent further leakage.

Market Overview:

The latest research study on the global Cryogenic Valve market finds that the global Cryogenic Valve market reached a value of USD 2192.18 million in 2022. It’s expected that the market will achieve USD 2866.56 million by 2028, exhibiting a CAGR of 4.57% during the forecast period.

Assessment of the Overall Impact of COVID-19 on the Industry

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of manufacturing, affected by the supply of raw materials and labor shortages.

For the Cryogenic Valve industry, the blockade policy will affect the supply of raw materials and export trade of products. The social distancing policy may have a great impact on the production of products, especially for some factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.

But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Market Development Constraints

The material of LNG valve is very important. Unqualified material will cause external leakage or internal leakage of shell and sealing surface. The comprehensive mechanical properties, strength and rigidity of the parts can not meet the use requirements or even break, which leads to the leakage of liquefied natural gas medium and explosion. Therefore, in the process of developing, designing and researching LNG valves, the material is the first key issue. A vast range of high performance Ball, Gate, Check, Globe valves and other special valves in bronze, forged brass, stainless steel, stainless steel -bronze or other special material. The cost of raw materials accounts for a large proportion of the total cost. The fluctuation of raw material price will directly affect the cost of raw materials. Due to the fluctuation of market supply and demand and the promotion of capital market, the prices of different raw materials show different trends. Generally speaking, this will be a fluctuating state.
For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Cryogenic Valve industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Samson, Flowserve, KITZ Corporation, with the revenue market share of 4.47%, 3.74%, 3.56% in 2021.

SAMSON, a market leader in control valves for industrial processes, has been successful in instrumentation and controls for over 100 years. Numerous inventions and innovative solutions guarantee SAMSON’s constant growth and on-going success.

SAMSON manufactures control valves, butterfly valves, and modular automation units for use in all areas of process engineering as well as self-operated regulators for simple control systems with a constant reference variable. Sophisticated transmitters, controllers, and automated systems are also part of the SAMSON product range.
Solutions from the SAM DIGITAL product line have been added for smart networking of components and systems in process automation to take on the challenges posed by the growing digitization.

Flowserve is one of the world's largest manufacturers of pumps, valves and seals with over 15,000 employees across 50 countries. Flowserve's innovations have benefited a range of industries, including oil and gas, power, chemical, water, pharmaceuticals and food processing.

Segmentation Overview:

Among different product types, Gate Valve segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Oil and Gas segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Cryogenic Valve market covered in Chapter 3:

Parker
Emerson Electric
Velan
HEROSE
Habonim Industrial Valves & Actuators
Bray International
KITZ Corporation
Samson
XINTAI
Powell Valves
Neles
L&T Valves
Flowserve
OMB Valves Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Cryogenic Valve market from 2018 to 2029 is primarily split into:

Ball Valve
Check Valve
Gate Valve
Globe Valve
Other Product Types

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Cryogenic Valve market from 2018 to 2029 covers:

Chemicals
Oil and Gas
Energy and Power
Food and Beverage
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)