Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "Hydrogen Valve Market by Type (Ball, Needle, Check, Pressure Relief, Globe, Flow Control), Size, Material (Steel, Aluminum), Pressure, Implementation, Application (Production, Fueling Station, Storage, Transportation, Fuel Sell) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen valve market is anticipated to witness significant growth, with projections estimating it will achieve a value of USD 507 million by 2030
This represents a Compound Annual Growth Rate (CAGR) of 7.4% from the year 2024, where the market was valued at USD 331 million. This growth is attributed to the increasing adoption of hydrogen as a clean fuel, propelled by global sustainability targets and supportive government policies aimed at enhancing hydrogen production quality.
Among the various types of hydrogen valves, the ball valve segment is expected to register the highest growth throughout the forecast period. The burgeoning hydrogen economy, especially in the energy and automotive sectors, is driving growth for these particular valves. Technological advancements and strong investments in hydrogen infrastructure, especially in the North American, European, and Asia-Pacific regions, are spurring growth. These valves are essential for ensuring the safe and efficient distribution of hydrogen, thereby supporting the move towards sustainable energy solutions.
Pressure and Size Trends
When it comes to pressure ratings, valves designed to operate within the >350-700 bar range are poised to witness the highest demand, primarily driven by the adoption of hydrogen in fuel cell vehicles and refueling stations. The valves of size below 1 inch are also predicted to see substantial growth, supporting the trend towards miniaturization and efficiency in valve design and application.
Industry Applications and Regional Insights
The oil & gas industry remains the largest end user of hydrogen valves, critical for processes like hydrocracking and hydrotreating in refineries. The Asia Pacific market is expected to have the largest share owing to significant infrastructure investments in countries like China, Japan, and South Korea, and regulatory policies that emphasize hydrogen as an essential clean energy source.
Key Market Drivers and Challenges
The market's growth drivers include the increased adoption of clean energy sources, demand for hydrogen in ammonia production, and favorable government regulations. However, the market faces challenges such as hydrogen embrittlement in certain metals, the possibility of leaks, and the high initial cost of implementing hydrogen technologies. Despite these challenges, opportunities are emerging in the adoption of hydrogen fuel cell systems and strategic partnerships between hydrogen manufacturers and valve manufacturers.
Market Insights
The study's in-depth analysis shows that the hydrogen valve market is primarily led by global players who innovate to adapt to high pressure and corrosive conditions. These industry leaders are poised to shape the market landscape through strategic advancements and by offering a wide array of solutions to meet the various demands of the hydrogen economy.
The hydrogen valve market represents a critical component of the expanding clean energy infrastructure and embodies the industry's commitment to sustainable development. With a comprehensive market penetration across various regions, the growth of the hydrogen valve market signals a significant shift towards embracing green technology in lucrative markets worldwide.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 237 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $331 Million |
| Forecasted Market Value (USD) by 2030 | $507 Million |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Companies Featured
- Emerson Electric Co.
- Slb
- Valmet
- Imi
- Crane Company
- Parker Hannifin Corp
- Baker Hughes Company
- Westport Fuel Systems Inc.
- Kitz Corporation
- Swagelok Company
- Gsr Ventiltechnik GmbH & Co. KG
- High Pressure Equipment Company
- Velan Inc.
- Rotarex
- Maximator GmbH
- Kevin Steel
- Jaksa D.O.O.
- Vexve Oy
- Cam S.P.A.
- Oliver Valves Ltd.
- Adams Armaturen GmbH
- Hartmann Valves GmbH
- Omb Saleri S.P.A.
- Gefa Processtechnik GmbH
- Habonim
For more information about this report visit https://www.researchandmarkets.com/r/ucq9ef
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
