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Cryogenic Valve Market Outlook 2023, Recent Trends and Demand Analysis

The report "Cryogenic Valve Market by Gas (LNG, Oxygen, Nitrogen), Type (Globe, Gate, Ball), End-User (Energy & Power, Food, Chemicals), Application (Tanks & Cold Boxes, Transfer Lines, Manifolds & Gas Trains), And Region - Global Forecast to 2023", The cryogenic valve market is expected to grow from an estimated USD 3.00 Billion in 2018 to USD 3.75 Billion by 2023, at a CAGR of 4.51%, from 2018 to 2023. This growth is primarily due to the rising production and trade of LNG to meet the LNG demand from various countries globally. High demand for industrial gases (nitrogen, oxygen, argon, helium, and others) from industries such as food & beverage, electronics, and chemicals is further expected to boost the cryogenic valve market.

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Cryogenic Valve Market worth 3.75 Billion USD by 2023

The global cryogenic valve market was valued at USD 2.89 Billion in 2017 and is projected to reach at USD 3.75 Billion by 2023, at a CAGR of 4.51% during the forecast period. Rising LNG trade and increasing demand for industrial gases are the major factors driving the cryogenic valve market.

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Cryogenic Valve Market Outlook 2023, Recent Trends and Demand Analysis

Cryogenic Valve Market worth 3.75 Billion USD by 2023