Cryogenic Valve Market Outlook 2023, Recent Trends and
Demand Analysis
The report "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", The
cryogenic valve market is expected to grow from an estimated USD 3.00 Billion in 2 018 to USD
3.75 Billion by 2023, at a CAGR of 4.51%, from 2018 to 2023. This growth is primarily due to the
rising production and trade of LNG to meet the LNG demand from various countries globally.
High demand for industrial gases (nitrogen, oxygen, argon, helium, and others) from industries
such as food & beverage, electronics, and chemicals is further expected to boost the cryogenic
valve market.
Browse 73 market data Tables and 35 Figures spread through 126 Pages and in-depth TOC
on "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"
https://www.marketsandmarkets.com/Market-Reports/cryogenic-valve-market-16943043.html
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The energy & power segment is expected to hold the largest share of the cryogenic valve
market, by function during the forecast period
The energy & power segment led the cryogenic valve market in 2017 and is projected to
dominate the market during the forecast period. Cryogenic valves are widely used i n the energy
& power industry. They are installed for the process of liquefication, transportation, and
regasification. The rise in the trade of LNG across the world is one of the major drivers of the
energy & power segment.
LNG is expected to be the fastest growing segment of the cryogenic valve market
The LNG segment is expected to hold the largest market share during the forecast period from
2018 to 2023. It is considered as the major source of energy. LNG is also being used in power
generation in the automotive sector, while many countries are adopting LNG as its fuel for
various applications in other industries as well. LNG is primarily used in shipbuilding, power
generation, and automotive industries.