Visiongain has published a new report entitled the Cryogenic Valve Market Report of 2021-2031. It includes profiles of Cryogenic Valve and Forecasts Market Segment by Type (Globe Valve, Gate Valve, Ball Valve, Diaphragm Valve, Butterfly Valve, Other Cryogenic Valves) Market Segment by Application (Tanks & Cold Boxes, Liquefiers, Transfer lines, Manifolds & Gas Trains, Other Application) Market Segment by Media (Air and Gas, Oil, Chemical Products, Water, Fuel, Other Media) Market Segment by Operation (Manual, Pneumatic, Electric, Hydraulic, Automatic, Other Operation) Market Segment by Gas Type (LNG, Oxygen, Hydrogen, Helium, Other Gases) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (V-shaped, W-shaped, U-shaped, L-shaped) Profiles of Leading Companies, Region and Country.
The global Cryogenic Valve market was valued at US$ US$2,087 million in 2020 and is projected to grow at a CAGR of 5.8% during the forecast period 2021-2031. Increased development of automated control systems, diagnostics, and tie-ins to digital control systems (DCS) for valves to improve plant operating safety and performance, while lowering operating costs are among the product and technology developments
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How has COVID-19 had a significant negative impact on the Cryogenic Valve Market?
Because of the coronavirus's rapid spread, the healthcare and pharmaceutical industries are at the forefront of the battle against COVID-19. The development of all vital medical devices needed to cure COVID patients is increasing. Industrial valves are used in the production of a variety of medical devices, which has enabled many main valve manufacturers to expand their businesses while also fighting the deadly coronavirus. For example, Emerson, a well-known player in the ball valves industry, has benefited from the situation. Emerson valves can handle pressure relief while still keeping sterilizer equipment and materials clean.
How this Report Will Benefit you?
Visiongain’s 535+ page report provides 351 tables and 332 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global cryogenic valve market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Cryogenic Valve. Get the financial analysis of the overall market and different segments including type, media, application, gas type and capture higher market share. We believe that high opportunity remains in this fast-growing cryogenic valve market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report would help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the current market drivers?
Valves Can Help To Reduce Leakage of Harmful Gases
The pursuit of energy efficiency and the reduction of CO2 and NOx emissions has led to a greater use of advanced manufacturing processes in a variety of end-user industries, resulting in improved efficiency and less waste. A rise in demand for some types of valves is one of the consequences of this trend.
High-Tech Valves Are Gaining Tractions In The Global Market
In the coming years, the market for high-tech valves that require specialised casting, working, and finishing techniques will continue to rise. The most advanced or specialised items continue to be the star performers (such as valves with predictive and preventive maintenance abilities, as well as valves with improved controls involving pneumatic, solenoid, electric, hydraulic or digital mechanisms).
Where are the market opportunities ?
Growing Automation in the Industries and Rising Demand for Valves
Due to process manufacturers' ongoing efforts to increase operational performance, it is expected that the demand for automatic valves will outpace the market for traditional valves. Sales of separately sold automatic actuators, which are used in conjunction with standard valves to allow automated valve functions and are less expensive than automatic control and regulator valves with actuators pre-installed, will see the most development.
Technology and Severe Service Innovations
There are also new designs and metallurgies to properly handle extreme service applications, as well as using the latest electronic technology to include valve diagnostics and wireless communications. Increased development of automated control systems, diagnostics, and tie-ins to digital control systems (DCS) for valves to improve plant operating safety and performance while lowering operating costs are among the product and technology developments
The major players operating in the cryogenic valve market are Emerson, Flowserve Corporation, Curtiss-Wright Corporation, Parker-Hannifin Corporation, Schlumberger N.V., Velan Inc., The Weir Group PLC, Kitz Corporation, Jiangsu Shentong Valve Co., Ltd., KSB SE & Co KgaA, CIRCOR International, Inc. (CIRCOR), The Wm Powell Company, The SAMSON Group, MECA-INOX, DeZURIK, ValvTechnologies Inc, GEMÜ Group, BAC VALVES, Cryocomp, Herose Company
These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch. For instance, in December 2020, Emerson has released its ASCO™ 141 Series Advanced Redundant Control System (ARCS) to provide a redundant solution for a variety of emergency shutdown valve applications, such as those found in the chemical, power, oil and gas industries.
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