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The cryogenic valves market share is expected to increase by USD 828.94 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.4%.
This cryogenic valves market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cryogenic valves market segmentations by end-user (oil and gas, chemicals, energy and power, food and beverage, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The cryogenic valves market report also offers information on several market vendors, including Hy Lok Corp., IMI Plc, ITT Inc., KITZ Corp., Larsen and Toubro Ltd., Parker Hannifin Corp., Powell Valves, SAMSON AG, Schlumberger Ltd., The Weir Group Plc, Velan Inc., Weka AG, Acme Cryogenics Inc, BAC Valves SA, Blackhall Engineering Ltd., Bray International Inc., Cryofab Inc., Emerson Electric Co., Flowserve Corp., and HEROSE GmbH among others.
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The increase in oil and gas drilling E&P operations is notably driving the cryogenic valves market growth, although factors such as volatility in oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cryogenic valves industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cryogenic Valves Market Driver
Key Cryogenic Valves Market Trend
Key Cryogenic Valves Market Challenge
This cryogenic valves market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global cryogenic valves market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cryogenic valves market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the cryogenic valves market encompasses successful business strategies deployed by the key vendors. The cryogenic valves market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cryogenic valves market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cryogenic valves market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the cryogenic valves market in North America. Market growth in this region will be slower than the growth of the market in APAC.
The growth of key end-user industries, such as oil and gas, chemicals, energy and power, and food and beverage industries will facilitate the cryogenic valves market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the regional market. However, in H2 2021, due to the introduction of vaccines, the number of COVID-19 cases in the region declined. This led to the lifting of restrictions and the resumption of manufacturing operations in the region. Thus, the recovery of regional end-use industries from the negative impact of COVID-19 is expected to increase the demand for cryogenic valves from these end-use industries, which, in turn, will fuel the growth of the regional market during the forecast period.
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The cryogenic valves market share growth by the oil and gas segment will be significant during the forecast period. Natural gas storage and transportation applications contribute significantly to the dominance of the oil and gas segment in the global cryogenic valves market. Furthermore, the increasing trade of liquefied natural gas (LNG) and compressed natural gas (CNG) due to irregularities in natural gas reserves and supplies will lead to the growth of the oil and gas segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the cryogenic valves market size and actionable market insights on post COVID-19 impact on each segment.
Cryogenic Freezers Market - The market share is projected to grow by USD 131.52 million with a CAGR of 7.18% during the forecast period 2021 to 2026.
Cryogenic Tanks market - The market share is expected to increase by USD 393.99 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.07%.
Cryogenic Equipment market - The market size will grow up to $ 4.33 bn at a CAGR of 6% during 2021-2025.
Cryogenic Pump market - The market share is expected to increase by USD 1.04 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.79%.
Cryogenic Valves Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.4% |
Market growth 2022-2026 |
$ 828.94 million |
Market structure |
Fragmented |
YoY growth (%) |
3.8 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Hy Lok Corp., IMI Plc, ITT Inc., KITZ Corp., Larsen and Toubro Ltd., Parker Hannifin Corp., Powell Valves, SAMSON AG, Schlumberger Ltd., The Weir Group Plc, Velan Inc., Weka AG, Acme Cryogenics Inc, BAC Valves SA, Blackhall Engineering Ltd., Bray International Inc., Cryofab Inc., Emerson Electric Co., Flowserve Corp., and HEROSE GmbH |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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