Dublin, Dec. 29, 2023 (GLOBE NEWSWIRE) -- The "Cryogenic Valve Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Cryogenic Valve Market is forecast to surpass US$3.5 billion in 2024 with strong revenue growth through to 2034.
Global Transition to Renewable Energy and Cryogenic Energy Storage
The global transition to renewable energy sources contributes to the demand for cryogenic valves in energy storage applications. Cryogenic energy storage systems, utilizing liquefied air or nitrogen, offer a solution for storing excess energy generated by renewables. Companies like Highview Power leverage cryogenic valves in their energy storage projects, showcasing the market's relevance in facilitating the storage and release of renewable energy, thereby supporting the broader global transition towards sustainable and cleaner energy solutions.
Increasing Demand for LNG Bunkering and Marine Applications
The rising demand for liquefied natural gas (LNG) bunkering in the maritime industry propels the global cryogenic valve market. LNG is increasingly adopted as a marine fuel for its lower emissions. Cryogenic valves are essential in LNG bunkering infrastructure, ensuring the safe transfer of liquefied gas to vessels. Notable projects, such as the adoption of LNG as a marine fuel in ports like Singapore and Rotterdam, highlight the market's integral role in supporting the maritime sector's transition towards cleaner energy sources.
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising cryogenic valve prices and recent developments.
Key Market Dynamics
Market Driving Factors
- Increasing Demand for Industrial Gases Driving the Market Growth
- Growing Demand from Chemicals Industry Driving the Market Growth
- Increasing Demand for FPSO and FSRU Driving the Market Growth
Market Restraining Factors
- Safety Concerns Regarding Operation of Liquefied Gases Hinder the Market Growth
- Volatile Metal Prices Increase the Production Cost Hinder the Market Growth
- High Operation and Maintenance Cost Hinder the Market Growth
Market Opportunities
- Rising Trade for LNG Opportunities for the Market
- Increase in the Energy Demand Opportunities for the Market
- Advancements in Technological Innovation Opportunities for the Market Growth
Segments Covered in the Report
Market Segment by Temperature Range
- Low-Temperature Valves
- Ultra-Low-Temperature Valves
Market Segment by Function
- On/Off Valves
- Control Valves
- Relief Valves
Market Segment by Material
- Stainless Steel
- Carbon Steel
- Alloy Steel
- Cryogenic Steel
Market Segment by Application
- Energy and Power Plants
- Chemical Processing
- Oil and Gas
- Liquefied Natural Gas Facilities
- Manufacturing and Fabrication
Market Segment by Type
- Ball Valves
- Gate Valves
- Globe Valves
- Butterfly Valves
- Check Valves
- Other Types
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Cryogenic Valve Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Bray International, Inc
- CIRCOR International, Inc.
- Emerson Electric Co.
- Flowserve Corporation
- Fujikin Incorporated
- HEROSE GmbH
- Meca-Inox
- Parker Hannifin Corporation
- Schlumberger Limited
- The Weir Group PLC
In summary, this report provides you with the following knowledge:
- Revenue forecasts to 2034 for Cryogenic Valve Market, 2024 to 2034 Market, with forecasts for temperature range, function, material, application, and type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for four regional and 20 key national markets - See forecasts for the Cryogenic Valve Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, UK, Italy, Russia, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 10 of the major companies involved in the Cryogenic Valve Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/ze0uwp
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