Global Cryogenic Valve Market Industry Analysis and Forecast (2020-2027) By Type, Gas, Application
Global Cryogenic Valve Market was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of XX % during a forecast period.
Cryogenic valve is mostly used for transportation and storage applications by various end-user industries. These valves are operated in very low temperature or thrilling cold applications to store or transport the LNG. Cryogenic valve is used in various applications includes Liquefied Ethylene, Propylene, and LPG applications.
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The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Increasing usage of a cryogenic valve in wide end-user industries includes food & beverage, chemical, pharmaceutical industries and growing opportunities in transportation, LNG, and CNG is expected to drive the growth of the global cryogenic valve market. Increasing investments in the LNG sector is one of the key drivers of the cryogenic valve market. The rising demand for Floating Production Storage and Offloading (FPSO) vessels is also expected to increase the growth of the cryogenic valve market. Furthermore, Fluctuation in the pricing of metal is limiting the global cryogenic valve market growth.
Growing demand from chemical industries and energy industries is offering major opportunities in the global cryogenic valve market.....