Jersey City, New Jersey, November 4, 2021 (GLOBE NEWSWIRE) – A validated market research recently released a report, “Cryogenic Control Valve Market” by type (stop valve, gate valve, check valve), Application (tank and cold) tanks, liquefiers, transmission lines), by end user (energy and electricity, chemicals, food and beverage) and by geographic location. According to verified market research, the global cryogenic control valve market size in 2020 will be US$3.069.6 billion, and it is expected to reach US$4.88609 million by 2028, with a compound annual growth rate of 6.28% from 2021 to 2028.
Globally, natural gas extracted from the source is transported and stored in the end-user industry for a variety of applications. Natural gas can be liquefied more than 600 times, and it is more economical to transport and store by using carriers on ships and large storage tanks and trucks. It is achieved by liquefying it at a temperature as low as -196 C. To maintain this temperature, suitable pipes, valves and fittings that can withstand low temperatures are used. The cryogenic control valve is the main part of the cryogenic system, maintaining the temperature and pressure settings of the entire system.
In recent decades, the development, transportation and storage technology of LNG has developed rapidly. It also drives the demand for high-quality manufacturing of pipes, valves and fittings. Valves play a key role in providing reliability for the LNG process through key design, manufacturing, and material selection factors. With the growth of LNG consumption, the demand for cryogenic ball valves and butterfly valves is expected to increase substantially.
Due to the increasing use of cryogenic control valves in the food and beverage industry, the cryogenic control valve market is expected to grow. Generally, cryogenic control valves are used in the food industry for pilot testing, decompression, exhaust, low temperature, oxygen control, liquefied gas, nitrogen control, food production, carbon dioxide control.
The main players in the market are Samson, KSB MIL Controls Limited, Emerson Electric Co., Flowserve Corporation, Richard Industries Inc, General Electric Co., Baker Hughes, Neles, Crane & Co. and IMI Plc. And others.
Proven market research has segmented the global cryogenic control valve market based on type, application, and geographic location.
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Verified Market Research is a leading global research and consulting company, serving more than 5,000 clients. Verified Market Research provides advanced analytical research solutions, as well as informative research. We provide insights into strategy and growth analysis, the data needed to achieve business goals, and key revenue decisions.
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Post time: Dec-01-2021
