Dublin, Aug. 21, 2020 (GLOBE NEWSWIRE) -- The "Global Cryogenic Valves Market: Growth, Trends & Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global cryogenic valves market is estimated to witness a healthy growth, at an estimated CAGR of over 4%, over the forecast period. The major factor driving the growth of the market studied is increasing demand for industrial gases.
- Safety concerns regarding operation of liquefied gases are likely to hinder the markets growth.
- The growing demand from chemicals industry is also expected to boost the market for cryogenic valves in the coming years.
- Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends
Increasing Usage in the Oil and Gas Industry
- In the oil & gas industry, the cryogenic temperature range starts at -238 F (-150 C). Also, some gases are considered as cryogenic gases as they take more than just an increase in pressure to compress their volume.
- Cryogenic valves are used to store and transport these cryogenic gases safely and efficiently. They are designed for suitable integrity pressure protection and emergency shutdowns in temperatures as low as 196C.
- The recovery oil production activities are expected to boost the cryogenic valves market in the next few years.
- The demand oil and gas have been on a general trend of increasing, this have resulted in an increase of drilling activities around the world in an effort to discover new fields. Almost all the easy oil being already discovered the wells now being drilled are deeper and more complex than before, also deep and ultra-deep-water drilling operations are also on the rise.
- Owing to all these factors, the market for cryogenic valves is likely to grow across the world during the forecast period.
Asia-Pacific to Dominate the World Market
- The Asia-Pacific region dominated the global market share. With growing oil and gas industrial activities and the increasing demand from food and beverage, chemical industries in the countries, such as China, India, and Japan, the usage of cryogenic valves is increasing in the region.
- The consumption of cryogenic valves is high in oil and gas, and the downstream production has increased in China. This is further increasing the production capacities of petrochemicals, thus augmenting the consumption of cryogenic valves in the country.
- Chemicals production is another prominent end-user industry in China. Many major companies in the market have their chemical plants in China. These companies increased their production capacities to meet the increasing demand.
- The oil & gas industry in India is growing robustly in the country with major players undertaking investments to cater burgeoning demand. The industry is expected to attract USD 25 billion investments in the production and exploration activities by 2022.
- The aforementioned factors, coupled with government support in these countries, are contributing to the increasing demand for cryogenic valves consumption in the region during the forecast period.
Competitive Landscape
The cryogenic valves market is partially consolidated in nature. Some of the major players in the market include Bray International, Emerson Electric Co., Flowserve Corporation, L&T Valves Limited, and The Weir Group PLC, among others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Industrial Gases
4.1.2 Growing demand from Chemicals Industry
4.2 Restraints
4.2.1 Safety Concerns Regarding Operation of Liquefied Gases
4.2.2 Impact of COVID-19 Pandemic
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Ball Valve
5.1.2 Check Valve
5.1.3 Gate Valve
5.1.4 Globe Valve
5.1.5 Other Product Types
5.2 Gas
5.2.1 Liquid Nitrogen
5.2.2 Liquid Helium
5.2.3 Hydrogen
5.2.4 Oxygen
5.2.5 Other Gases
5.3 End-user Industry
5.3.1 Chemicals
5.3.2 Oil and Gas
5.3.3 Energy and Power
5.3.4 Food and Beverage
5.3.5 Medical
5.3.6 Other End-user Industries
5.4 Geography
5.4.1 Asia-Pacific
5.4.2 North America
5.4.3 Europe
5.4.4 South America
5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bac Valves
6.4.2 Bray International
6.4.3 cryocomp
6.4.4 Emerson Electric Co.
6.4.5 Flowserve Corporation
6.4.6 Generant Inc.
6.4.7 Grupo Micromazza
6.4.8 Habonim
6.4.9 HEROSE International
6.4.10 L&T Valves Limited
6.4.11 Meca-Inox
6.4.12 Parker Hannifin Corporation
6.4.13 Powell Valves
6.4.14 SAMSON Controls Inc.
6.4.15 The Weir Group PLC
6.4.16 Velan Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/qjrob0
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900