Cryogenic Valves Market Size & Trends
The global cryogenic valves market size was valued at USD 3.64 billion in 2024 and is expected to grow at a CAGR of 6.9% from 2025 to 2030. This growth is attributed to the rising usage of cleaner energy sources, such as liquefied natural gas (LNG), as an alternative to traditional fossil fuels.
Key Highlights
- Asia Pacific cryogenic valves dominated the global market and accounted for the largest revenue share at 46.5% in 2024.
- The cryogenic valves market in China dominated the Asia Pacific market and held the largest revenue share in 2024.
- By product type, ball valves dominated the market with the largest revenue share of 42.0% in 2024, primarily driven by LNG's growing adoption as a cleaner alternative to traditional fossil fuels.
- By end use, the oil & gas end-use segment dominated the market with the largest revenue share of 42.8% in 2024.
As countries strive to reduce carbon emissions, the use of LNG in transportation, power generation, and industrial applications is expected to grow, thereby driving the need for reliable cryogenic infrastructure. In addition, innovations in biotechnology sectors and healthcare are likely to further contribute to the rising demand for these specialized valves, as cryogenic systems are crucial for storing and transporting medical gases and biological materials.
Cryogenic valves are engineered to precisely control the movement of gases and liquids at extremely low temperatures, making them essential in industries such as LNG, CNG, and chemicals. The global cryogenic valves market is set for notable growth, largely driven by a surge in oil and gas exploration that increases the need for advanced flow control in LNG and CNG operations.
Technological advancements include developing more efficient materials, such as high-performance alloys and composites, which improve durability and performance at extremely low temperatures. Innovations in sealing technologies, like improved elastomers and advanced metal-to-metal sealing, have significantly reduced leakage rates, increasing safety and reliability.
Incorporating smart valve technologies, including sensors and automation systems, allows for real-time monitoring and remote control, improving operational efficiency and maintenance predictability. These advancements are anticipated to improve the valves' safety, performance, and cost-effectiveness, thereby fueling their adoption in various end-use industries.
Key players operating in the market are adopting several strategies to gain market share, including high investments in research and development to innovate and improve product performance. They are expanding their product portfolios to cater to diverse industry needs. Moreover, these players are forming strategic partnerships and collaborations to enhance their distribution networks and market reach.
Report Coverage & Deliverables
The PDF report and online dashboard will help you understand
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Product Type
Ball valves dominated the market with the largest revenue share of 42.0% in 2024, primarily driven by LNG's growing adoption as a cleaner alternative to traditional fossil fuels. As global energy markets shift toward more sustainable solutions, LNG's role in reducing greenhouse gas emissions becomes critical. Moreover, advancements in cryogenic technologies and the expansion of LNG infrastructure, such as transportation and storage facilities, are further expected to drive the need for reliable and efficient cryogenic valves.
Check valves are expected to grow at the fastest CAGR of 7.4% over the forecast period, owing to the expanding liquefied natural gas (LNG) infrastructure, which requires reliable and efficient valves to handle and transport cryogenic fluids safely. In addition, technological advancements in materials and sealing technologies have enhanced the performance and durability of check valves under extreme conditions. Furthermore, increasing adoption of automation and smart valve technologies improves operational efficiency and safety.
End Use Insights
The oil & gas end-use segment dominated the market with the largest revenue share of 42.8% in 2024. This dominance is due to the rising global demand for natural gas, often transported and stored in its liquefied form, LNG, to improve logistics and reduce volume. The need for reliable cryogenic valves is expected to increase due to the growing infrastructure for LNG production, storage, and distribution, which can handle extremely low temperatures and ensure safe and efficient flow control. This is critical. Furthermore, the push for cleaner energy solutions leads to higher investments in LNG projects, thereby driving the demand for advanced cryogenic valves in the oil and gas sector.
Chemicals are expected to grow fastest CAGR of 7.4% over the forecast period. The demand for cryogenic valves in chemical applications is expected to increase due to the expansion of the chemical industry, which increasingly relies on cryogenic processes to produce, store, and transport various chemicals. These valves are essential for handling extremely low temperatures required to process gases such as oxygen, nitrogen, and hydrogen. As industries prioritize safety and efficiency, the adoption of cryogenic technologies is growing, driven by the need for precise temperature control and robust handling of volatile substances.
Regional Insights
Asia Pacific cryogenic valves dominated the global market and accounted for the largest revenue share at 46.5% in 2024. This growth is attributed to the region's rapid industrialization and urbanization, which drive energy consumption and demand the expansion of liquefied natural gas (LNG) infrastructure for power generation and industrial applications. Countries like China and India invest heavily in LNG terminals and distribution networks to meet their growing energy demands while transitioning to cleaner fuels. Technological advancements, coupled with supportive government policies promoting LNG adoption and healthcare infrastructure development, are likely to further propel the demand for cryogenic valves in the Asia-Pacific region in the coming years.
China Cryogenic Valves Market Trends
The cryogenic valves market in China dominated the Asia Pacific market and held the largest revenue share in 2024. The market was driven by the increasing demand for liquefied natural gas (LNG) and industrial gases across various sectors such as energy, chemicals, and manufacturing. Key factors include the expansion of LNG import terminals and storage facilities, along with government initiatives promoting clean energy and infrastructure development.
North America Cryogenic Valves Market Trends
The North American cryogenic valves market is expected to grow at a CAGR of 6.8% over the forecast period, owing to the region's robust energy. The North American healthcare and biotechnology industries heavily rely on cryogenic systems to store and transport medical gases and biological materials. The demand for advanced cryogenic valves in different industries in the region is expected to grow due to the need for cleaner energy solutions, government support, and more investments in cryogenic technology.
The cryogenic valves market in the U.S. led the North American market with the largest revenue share in 2024. The U.S. has become a leading LNG exporter, driven by abundant natural gas reserves and infrastructure investments, which are expected to create regional product opportunities. Also, ongoing industrial growth, especially in the aerospace and automotive industries, needs effective cryogenic solutions for different uses, which is increasing the overall demand for these valves.
Europe Cryogenic Valves Market Trends
The Europe cryogenic valves market is expected to grow significantly over the forecast period, driven by the region’s increasing focus on renewable energy sources and sustainable practices, which are driving investments in LNG infrastructure as a cleaner alternative to conventional fuels. This shift is bolstered by stringent environmental regulations aimed at reducing carbon emissions. In addition, the advancements in healthcare and pharmaceutical sectors across Europe require reliable cryogenic systems for storing and transporting medical gases and biological materials, which is further anticipated to boost the demand for specialized cryogenic valves in the region.
Key Cryogenic Valves Company Insights
Key players in the global cryogenic valves market focus on product innovation, expanding product portfolios, and investing in research and development. In addition, they also pursue strategic partnerships, acquisitions, and agreements to strengthen distribution networks, enhance market reach, and maintain a competitive edge globally.
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Velan Inc. produces industrial valves, including cryogenic valves, serving diverse industries such as oil and gas, power generation, and chemical processing. The company has established a strong global presence with manufacturing facilities and sales offices in key markets worldwide. Velan's cryogenic valves offer various benefits, including advanced sealing technologies and the ability to operate effectively in extreme temperatures, meeting stringent performance requirements.
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Emerson Electric Co. provides innovative solutions for customers in industrial, commercial, and residential markets. The company operates through two main business segments, including automation solutions, which help industries optimize their production processes and ensure efficient operation, and commercial & residential solutions, which deliver products and services that improve comfort, improve energy efficiency, and ensure food quality and safety.
Key Cryogenic Valve Companies
The following are the leading companies in the cryogenic valves market. These companies collectively hold the largest market share and dictate industry trends.
- Velan Inc.
- Emerson Electric Co.
- Herose GmbH
- Parker Hannifin Corporation
- Flowserve
- L&T
- BAC Valves
- Bray International, Inc.
- Habonim Valve Solutions
- Powell Valves
Recent Developments
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In February 2025, Demaco Netherlands BV unveiled a redesigned range of cryogenic valves, enhancing its manual on/off, pneumatic on/off, and control valves for broader application.
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In February 2025, Flowserve launched new Worcester Cryogenic floating ball valves, available in three-piece (CF44 series) and flanged (CF51/CF52 series) configurations. These cryogenic valves are for LNG, hydrogen, and industrial gas sectors.
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In September 2023, Flowserve Corporation announced a new product launch of the Worcester cryogenic series of reduced ports. These valves are designed for industrial, hydrogen, and liquefied natural gas applications. They meet global fire safety standards and tests, including hydrogen gas. Consequently, they support energy transition initiatives and hydrogen production while effectively containing fugitive emissions.
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In February 2023, Parker Hannifin released a comprehensive catalogue for its Bestobell cryogenic valves, which are used in ultra-low-temperature liquefied gas storage, transportation, and processing.
Cryogenic Valves Market Report Scope
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Report Attribute |
Details |
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Market size value in 2025 |
USD 3.87 billion |
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Revenue forecast in 2030 |
USD 5.40 billion |
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Growth rate |
CAGR of 6.9% from 2025 to 2030 |
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Base year for estimation |
2024 |
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Historical data |
2018-2023 |
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Forecast period |
2025-2030 |
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Quantitative units |
Revenue in USD million/billion, and CAGR from 2025 to 2030 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Product type, end use, region |
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Regional scope |
North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. |
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Country scope |
U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, and Argentina. |
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Key companies profiled |
Velan Inc.; Emerson Electric Co.; Herose GmbH; Parker Hannifin Corporation; Flowserve; L&T; BAC Valves; Bray International, Inc.; Habonim Valve Solutions; Powell Valves. |
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Customization scope |
We offer free report customization (equivalent to 8 analyst working days) with every purchase. You can include or modify the scope of the country, region, and segment. |
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Pricing and purchase options |
Avail yourself of customized purchase options to meet your exact research needs. Explore purchase options |
Global Cryogenic Valves Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each sub-segment from 2018 to 2030. For this study, MIR has segmented the global cryogenic valves market report based on product type, end use, and region
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Product Type Outlook (Revenue, USD Million, 2018-2030)
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Ball Valve
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Check Valve
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Gate Valve
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Globe Valve
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Others
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End Use Outlook (Revenue, USD Million, 2018-2030)
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Oil & Gas
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Chemical
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Food & Beverages
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Medical
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Others
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Regional Outlook (Revenue, USD Million, 2018-2030)
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Asia Pacific
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China
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Japan
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India
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South Korea
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Latin America
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Brazil
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Argentina
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Middle East and Africa
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