Cryogenic Valves Demand Outlook Compared to 2022-2032 Forecast

 Over the forecast period of 2022–2032, the cryogenic valves market is expected to grow at a CAGR of 4.8% and reach a valuation of US$ 5,523.5 Mn by the end of 2032. Rising demand for cryogenic gases from various end-use sectors is estimated to drive growth in the global market over the forecast period. Development of new technologies and increasing investments in gas-based power plants are also set to push the market globally. Moreover, expansion of the food & beverage and chemical sectors in Asia Pacific is creating new opportunities for market players.

  • By valve type, the gate valves segment is expected to grow at a CAGR of 9% during the forecast period.
  • By gas, the LNG gas segment is anticipated to dominate the market and account for about 1/3rd of share.
  • By end use, the power & energy segment is projected to lead the cryogenic valves market and create an absolute dollar opportunity worth US$ 128.8 Mn during the forecast period.
  • In terms of region, sales of cryogenic valves in South Asia & Pacific are estimated to exhibit a CAGR of 0%.
  • The China cryogenic valves market is estimated to grow at a CAGR of 7% in the assessment period.

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