Cryogenic Valve Assembly Market worth $7.21 billion by 2029 | MarketsandMarkets™
DELRAY BEACH, Fla., May 6, 2025 /PRNewswire/ -- The global Cryogenic Valve Assembly Market is anticipated to grow from estimated USD 4.83 billion in 2024 to USD 7.21 billion by 2029, at a CAGR of 8.3% during the forecast period. This market is expected to grow due to the demand for liquefied natural gas (LNG), increased investments in space exploration, and the rising acceptance and use of cryogenic technologies for medical and industrial applications. Expanding applications in energy storage and transit will continue to foster growth, along with market concerns regarding safety and risks associated with extremely low temperatures in cryogenic technology. The ongoing advancement in valve technology and the global shift towards cleaner energy sources will also be beneficial for market expansion.
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The Valve Body, by Component
The valve body segment accounts for a significant share of the Cryogenic Valve Assembly Market due to its importance in withstanding low temperatures and high pressures. The demand for stronger and more reliable materials in LNG, industrial gas, and aerospace applications drives the need for the valve body. Technological advances in valve body design and materials enhance durability and safety. Furthermore, maintaining a functional cryogenic storage and transportation infrastructure contributes to additional demand. Additionally, regulations and standards emphasize high-performance valve components, bolstering the case for market expansion.
Ball Valve, by Type
The ball valve segment has the largest share of the Cryogenic Valve Assembly Market because it provides a better seal, lower torque, and quick shutoff when dealing with cryogenic fluids. They also have a small footprint and minimum leakage. It is ideal for LNG, industrial gases, and aerospace applications. Growth in the market for cryogenic valves is due to a growing need for effective flow control in extreme temperatures, an increase in LNG infrastructure development, and an increase in the prevailing focus on operational safety and reliability.
Asia Pacific is estimated to be the fastest-growing region in the Cryogenic Valve Assembly Market
The Asia Pacific region is projected to be the fastest-growing market for cryogenic valve assemblies due to various factors, including rapid industrialization, urbanization, and growing energy demand in emerging economies such as China and India. The growth of LNG infrastructure, increased investments in clean energy projects, and the growing adoption of cryogenic technology in the healthcare and electronics industries all contribute to the market's growth. In addition, government regulations and initiatives, more activities in space exploration, and the presence of key manufacturing hubs in the region are all contributing to this need.
Key Players
Some of the prominent players in the Cryogenic Valve Assembly Market are PARKER HANNIFIN CORP (US), Emerson Electric Co. (US), Flowserve Corporation (US), Bray International (US), Valmet (Finland), and Crane Company (US), L&T Valves Limited (India), KITZ Corporation (Japan), and Baker Hughes (US). The major strategies adopted by these players include acquisitions, sales contracts, product launches, agreements, alliances, partnerships, and expansions.
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PARKER HANNIFIN CORP
PARKER HANNIFIN CORP is a prominent manufacturer involved in the processing and manufacturing of raw materials, durable goods, infrastructure, and transportation solutions. It serves several industries, such as filtration, fluid and gas management, hydraulics, aerospace, climate control, electromechanical systems, pneumatics, process control, sealing, shielding, and human motion technologies. Parker Hannifin operates in two prominent segments: Diversified Industrial and Aerospace Systems. Under its Diversified Industrial segment, Parker Hannifin consists of cryogenic valve assembly products. With operations in 45 countries, the company possesses a well-established global industrial distribution network with around 17,000 locations.
Flowserve Corporation
Flowserve Corporation is a provider of fluid stir and control manufacturing and aftermarket services. It provides designing, engineering, manufacturing, and development of inflow control outfits. Flowserve has two top parts: the Flowserve Pumps Division and its Flow Control Division. The Flow Control Division designs and manufactures a variety of inflow control results. It produces faucets, actuation, and affiliated outfits and serves diligence including chemical, power generation, oil painting and gas, water operation, and other general diligence. It also provides cryogenic stopcock assembly products for diligence certain to thawed natural gas.
The Flow Control Division has and continues to invest in its product capabilities. It has 19 manufacturing installations around the globe and 25 Quick Response Centers to give tailored products to guests. The Flowserve Pump Division of the company has 39 manufacturing installations in 49 countries.
Emerson Electric Co.
Emerson Electric Co. is a worldwide leader in technology, software, and engineering, providing innovative solutions for the commercial and industrial markets. Its product line includes automation systems, measurement products, and software applications in the areas of engineering, digital transformation, sensors, IoT, industrial automation, home comfort, food safety, operational reliability, project efficiency, advanced manufacturing, energy efficiency, environmentally friendly refrigeration, reduction of food waste, valves, and sustainable energy solutions. The corporation organizes its operations into two main segments: Intelligent Devices and Software and Control. The Intelligent Devices segment has four divisions: Final Control, Measurement & Analytical, Discrete Automation, and Safety & Productivity. The company operates in the Americas, Asia, Middle East & Africa, and Europe; Emerson places a focus on sustainability, diversity, and talent growth.
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