Frequently Asked Questions
In 2022, the market for cryogenic valves was estimated to be worth USD 4215.6 million.
The market for cryogenic valves is anticipated to increase at a CAGR of 5.00% from 2023 to 2030, reaching USD 6228.36 million in 2030.
The most widely used valve type is gate valves.
Stainless steel, by material, is the notable segment.
The healthcare category is anticipated to exhibit the highest CAGR during the projection period.
North America ruled the cryogenic valve market.
The top players include Schlumberger (U.S.), Flowserve Corp. (U.S.), Baker Hughes (U.S.), Emerson Electric Co. (U.S.), Neles Corp. (Finland), KITZ Corporation (Japan), Cryostar GmbH (France), Bray International (U.S.), HEROSE GmbH (Germany), Cryocomp (U.S.), Velan Inc. (Canada), Phpk Technologies (U.S.), ACME Cryogenics (U.S.), and others.
The drivers accelerating the expansion of the cryogenic valve market are expanding the need for the healthcare industry, escalating demand for medical gas handling, and growing acceptance of innovations in medical technologies.
The challenges limiting the growth of the cryogenic valve market are the high start-up expenses, competition from low-cost manufacturers, stringent safety and environmental regulations, and a need for more experienced workers.
Connectivity with robotics, automation, scientific upgrades in the space industry, and IoT all present significant potential opportunities for the cryogenic valves market.