Global Cryogenic Valves Market to Reach $4.6 Billion by 2030
The global market for Cryogenic Valves estimated at US$3.3 Billion in the year 2023, is expected to reach US$4.6 Billion by 2030, growing at a CAGR of 5% over the analysis period 2023-2030. Cryogenic Valves for LNG, one of the segments analyzed in the report, is expected to record a 5.9% CAGR and reach US$2 Billion by the end of the analysis period. Growth in the Cryogenic Valves for Oxygen segment is estimated at 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $861 Million, While China is Forecast to Grow at 7.8% CAGR
The Cryogenic Valves market in the U.S. is estimated at US$861 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 4% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$634.7 Million by the year 2030.
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