11:04 AM Cryogenic Valve Market Size to experience an impressive growth of 4.8% |
Cryogenic Valve Market is likely to witness a healthy CAGR of 4.8% during the forecast period. Increasing trade of LNG has led to the high demand for storage and transportation of cryogenic gases, which in turn is driving the demand for cryogenic valves. Further, high demand for industrial gases is acting as a catalyst towards the growth of cryogenic valves.
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By Type: Based on the type, the market is segmented as ball valve, globe valve, gate valve, check valve, and others. The ball valve offers superior features such as high flow rate and easy operating in comparison to other valve types. Further, these valves are designed based on the requirement of applications for their use in transportation, LNG production, and storage applications. By End-Use Industry Type: Based on the end-user type, the market is segmented as energy & power, chemicals, food & beverage, healthcare, and others. The energy & power segment is estimated to be the largest market for cryogenic valves during the forecast period. The increasing demand for LNG owing to meet the rising demand for power generation is the major factor behind the dominance of the energy & power sector. By Application Type: Based on the application type, the market is segmented as transfer lines, tanks & cold boxes, manifolds & gas trains, and liquefiers. The transfer lines sub-segment dominated the market and is expected to remain dominant during the forecast period. The increasing demand for LNG drives the growth of the transfer lines segment. By Region: In terms of regions, Asia-Pacific is expected to be the largest market for cryogenic valves in the coming five years. The market is driven by the growth in end-use industries, primarily owing to the economic development in the region, dependable supply chain, cheap labor, and huge consumer base. Click below to run through the detailed ToC of the report: https://www.stratviewresearch.com/toc/720/cryogenic-valve-market.html Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
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