Cryogenic Control Valve Market Forecast to 2028 – Impact and Global Analysis of COVID-19 by Type (Globe Control Valve, Ball Control Valve, Butterfly Control Valve, etc.) and Application (Power Generation, Oil & Gas, Food & Beverage, etc.)
The cryogenic control valve market is expected to grow from USD 2,267.07 million in 2021 to USD 3,117.79 million in 2028; at a CAGR of 4.7% during the period 2021-2028.
“Global Cryogenic Control Valve Market Analysis to 2028″ is a professional and in-depth study of the electronics and semiconductor industry, focusing on global market trend analysis.The report aims to provide an overview of the Cryogenic Control Valves market with detailed market segmentation by type, application, and geography.The report provides key statistics on the market status of the leading Cryogenic Control Valves market players and provides key trends and opportunities in the market.
Country Range United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, Korea, Saudi Arabia, Brazil, Argentina
Demand for industrial gases is increasing in both developed and developing countries, including the UK, US, Australia, Germany, India and China.Produces a wide range of commercial gases for unique applications in different industries.Some of the main commercial gases used are oxygen, nitrogen, argon, carbon dioxide, helium, hydrogen, and acetylene, among others.Cryogenic valves are widely used to transfer, use and store liquefied gases consisting of Compressed Natural Gasoline (CNG) and Liquefied Herbal Gasoline (LNG).In India, CNG vehicle sales grew 49% month-on-month in the 12 months of FY21, and its market share increased from 4% in 2020 to 6% in 2021.The demand for liquefied gas and liquid nitrogen is growing for cryotherapy to treat skin abnormalities, transportation and freezing of food, cooling of superconductors, and cryo-maintenance of blood.
For the production of oxygen, cryogenic valves are used in air separation plants on a large scale.Today, the increasing demand for oxygen is also an important factor driving the growth of the cryogenic control valve market.Various types of cryogenic valves required by fuel companies include gate valve, test valve, globe valve, lift test valve, ball valve, pinch valve, pilot-operated check valve, butterfly valve, swash plate inspection valve, plug valve, diaphragm valve, safety valve and pressure relief valve.As the demand for industrial gases rises in various industries such as chemical compounds, petrochemicals, steelmaking, mining, environmental safety, metals, remediation, biotechnology, pharmaceuticals, etc., the demand for famous valves is also expected to grow significantly.
Babcock & Wilcox Enterprises, Inc.、Baltimore Aircoil Company、BELL COOLING TOWERS、Delta Cooling Towers, Inc.、EVAPCO, Inc.、Hamon、MESAN Group、Samco Technologies, Inc.、SPX Cooling Technologies, Inc 和 Vistech 冷却系统
Recently, the demand for floating manufacturing storage and offloading (FPSO) units and floating storage regasification units (FSRU) has increased to a broad level.FPSO units are widely used in the processing and production of hydrocarbons and oil storage by the oil and gasoline industry.In order to convert and transition liquefied herbal fuel (LNG) through marine access, an FSRU is required.According to the Organization of the Petroleum Exporting Countries (OPEC), international oil demand is expected to grow from 38 million barrels per day to 150 million barrels per day by 2025, an average annual increase of 1.6 million barrels.From 2002 to 2025, increase to one day or 1.7%.FSRUs are gaining acceptance around the world considering the feasibility, mobility, availability, dispatch, commercial flexibility and lower prices of electricity generation.The Asia-Pacific region is expected to be the largest FSRU market in the coming years with the increasing use of herbal gases.Various types of cryogenic valves are widely used in FPSO units and FSRUs.This is expected to drive the global cryogenic valves market.
The COVID-19 pandemic has negatively impacted the entire oil and gas industry due to severe disruptions to supply chain activity, coupled with the lockdown of international trade in several countries following the pandemic.In addition, global oil and gas prices have fallen sharply due to limited demand, and continued production in oil-producing countries has led to a sharp drop in production activity in major oil-producing countries.As a result, disruptions in oil and gas activities have disrupted demand for related products and services, such as cryogenic valves.
During the COVID-19 pandemic, the food processing business has increased significantly due to the surge in demand for consumer products.This development has stabilized the use of cryogenic valves to a certain extent.Therefore, the pandemic has negatively impacted the cryogenic control valve market in the first two quarters of 2020.However, as economic activity continued, demand returned.Therefore, the global market is expected to return to a lack of demand in the coming months and subsequent years.
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The Insight Partners is a one-stop industry research provider of actionable intelligence.We help clients obtain solutions to their research needs through our syndicated and consultative research services.We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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Post time: Mar-15-2022
