DUBLIN--(BUSINESS WIRE)--The "Cryogenic Valve Market by Gas (LNG, Oxygen, Nitrogen), Type (Globe, Gate, Ball), End-User (Energy & Power, Food, Chemicals), Application (Tanks & Cold Boxes, Transfer Lines, Manifolds & Gas Trains), And Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The cryogenic valve market is estimated to be USD 3.00 billion in 2018 and is projected to reach USD 3.75 billion by 2023, at a CAGR of 4.51%, from 2018 to 2023
Rising investments in the LNG sector is the key factor driving the cryogenic valve market. Moreover, the increasing demand for Floating Production Storage and Offloading (FPSO) vessels is further expected to boost the growth of the cryogenic valve market. Volatile metal price can act as a restraint for the cryogenic valve market, leading to declining profits.
The energy & power subsegment of the end-user segment is expected to grow at the highest CAGR, during the forecast period due to the increasing LNG production. In Asia Pacific, countries such as China, India, South Korea, and Southeast Asian countries are the major importers of LNG to meet the growing power generation and domestic sector demand.
The market in Asia Pacific is currently the largest market for cryogenic valves followed by the North American market. The substantial growth in end-user industries, such as chemicals, electronics, metallurgy, and food & beverage, is expected to drive the cryogenic valve market in the Asia Pacific region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Cryogenic Valve Market, By End-User
7 Cryogenic Valve Market, By Gas
8 Cryogenic Valve Market, By Type
9 Cryogenic Valve Market, By Application
10 Cryogenic Valve Market, By Region
11 Competitive Landscape
12 Company Profiles
- Powell Valves
- Weir Group
For more information about this report visit https://www.researchandmarkets.com/research/r5cmqc/global_cryogenic?w=4