U.S. Cryogenic Valve Market Size - By Valve Type (LNG, Hydrogen), By Application (Gas Pipeline and Transportation, Supplying Line, Filling Device, Bulk Storage Tank, Others (Storage Tank & Piping, etc.), By Function, By Size, By Industry, Forecast 2024 – 2032

U.S. Cryogenic Valve Market Size

U.S. Cryogenic Valve Market was valued at around USD 204.7 million in 2023 and is anticipated to register a CAGR of 6.5% between 2024 to 2032. Cryogenic valves are engineered specifically to function effectively in extremely cold environments, typically below -50°C (-58°F). These valves are essential in industries where gases or liquids are stored, transported, or processed at such low temperatures. The key sectors include Liquefied Natural Gas (LNG) facilities, cryogenic storage tanks, aerospace applications, and specific medical & scientific equipment.
 

The U.S. is witnessing a rising demand for Liquid Natural Gas (LNG), propelled by its reputation as a cleaner alternative to conventional fossil fuels. Cryogenic valves play a pivotal role in LNG infrastructure, from liquefaction plants and storage terminals to transportation systems. These valves are primarily tasked with regulating the flow of LNG and other cryogenic fluids across processing facilities, pipelines, and storage tanks, designed to endure the extreme temperatures and pressure differentials typical of cryogenic applications.
 

Notably, the U.S. is witnessing significant activity in the LNG sector. Currently, the country has five LNG projects under construction, collectively having a liquefaction capacity exceeding 71 million Tons Per Annum (MTPA). These projects include Plaquemines LNG (18 MTPA), Golden Pass LNG (16 MTPA), Rio Grande LNG (15 MTPA), Port Arthur LNG (12 MTPA), and an expansion at Corpus Christi LNG (10 MTPA).
 

As a result, it is anticipated that expansion of LNG infrastructure in the U.S. will fuel the demand for valves in cryogenic application during the forecast period.   
 

Valves in cryogenic application presents unique challenges due to the extreme conditions they operate in. Cryogenic valves must function flawlessly at temperatures that can plunge well below -150 degrees Celsius. At such low temperatures, many materials become brittle and lose their mechanical properties. Furthermore, cryogenic applications often involve thermal cycling, where equipment goes through repeated temperature fluctuations. This can put stress on valve components, leading to wear and potential failure.
 

Additionally, cryogenic fluids, including LNG, have unique properties that can challenge valve operation. For instance, LNG can rapidly boil off when exposed to higher temperatures, leading to pressure spikes. On the other hand, designing valves to operate in cryogenic environments presents unique engineering challenges. Sealing materials must remain flexible and resilient at ultra-low temperatures, and valve components must resist embrittlement. To address these challenges, ongoing research and innovation in materials science and valve design are essential.
 

U.S. Cryogenic Valve Market Trends

The expansion of industrial gas facilities and distribution networks across the U.S. is significantly boosting the demand for valves tailored to cryogenic applications. Cryogenic valves are designed to tackle the challenges of ultra-low temperatures, acting as gatekeepers for cryogenic fluids such as liquid nitrogen, oxygen, and argon.
 

The U.S. has a highly integrated natural gas pipeline network, spanning approximately three million miles of mainlines and other pipelines. This network seamlessly connects natural gas production sites and storage facilities to a consumer base of about 78.3 million, delivering a substantial 29.2 trillion cubic feet (TCF) of natural gas in 2022.
 

U.S. Cryogenic Valve Market Analysis

Based on valve type, the market can be segmented into LNG and Hydrogen. The hydrogen segment is further categorized into ball valves and butterfly valves. Furthermore, the LNG segment is also segmented into ball valves and butterfly valves. In 2023, the LNG type segment accounted for revenue of around USD 130.8 million in 2023 and expected to reach around USD 219.4 million by 2032. The LNG ball valve segment held 73.5% market share in 2023.
 

The increasing demand for LNG is primarily fueled by its reputation as a cleaner substitute for conventional fossil fuels in sectors such as power generation, industrial processes, and marine transport. Cryogenic ball and butterfly valves are indispensable for overseeing LNG flow within liquefaction plants, LNG carriers, and regasification terminals. These valves are crucial for precisely managing cryogenic temperatures and pressures throughout these pivotal operations.
 

Concurrently, ongoing investments in LNG infrastructure, encompassing liquefaction plants, terminals, and bunkering facilities, are expanding to meet the escalating demand. Cryogenic valves are integral to LNG bunkering installations and on-board LNG carriers, thereby ensuring safe fuel distribution and handling during maritime activities. These valves are pivotal in facilitating secure LNG transfer and storage aboard vessels, contributing significantly to sectoral expansion.
 

Based on application, the supplying line segment accounted for revenue of around USD 77.9 million in the year 2023 and expected to reach USD 152.6 million by 2032.
 

The U.S. is witnessing substantial growth in its LNG infrastructure, encompassing liquefaction plants, terminals, and export facilities. Cryogenic ball valves play indispensable roles in these installations by regulating the flow of LNG during crucial operations such as loading, unloading, and transportation. This expansion is primarily fuelled by the rising demand for LNG, driven by its status as a cleaner alternative to conventional fossil fuels across sectors such as power generation, industrial processes, and maritime transport. Cryogenic ball valves are particularly favoured in LNG and hydrogen applications due to their capability to withstand extremely low temperatures while maintaining consistent operational reliability.
 

These valves enable precise management of flow rates, pressures, and temperatures, which are critical for ensuring the safe & efficient transportation of cryogenic fluids. The market demand is further bolstered by stringent safety regulations and industry standards that necessitate dependable valve solutions capable of operating flawlessly under harsh conditions without compromising the safety protocols.
 

The U.S. has solidified its position as a major LNG exporter, with numerous operational and upcoming liquefaction projects. The Federal Energy Regulatory Commission (FERC) has approved several new projects, each relying on cryogenic valves for safe and efficient LNG management. Advancements in valve technology, from materials to operational efficiency, are tailored to meet the specific demands of the LNG sector. Manufacturers are increasingly prioritizing valves that can endure challenging environments synonymous with LNG operations.
 

Concurrently, hydrogen is gaining traction as a clean energy source, often requiring cryogenic conditions for transportation and storage. The U.S. Department of Energy (DOE) reports that hydrogen production could reach 10 million metric tons annually by 2030, necessitating advanced cryogenic valves. These valves are essential in hydrogen systems, from liquefaction to transportation. Continuous innovations in valve technology, focusing on efficiency, leak reduction, and reliability in extreme conditions, are fueling market growth. Manufacturers are honing their valves to meet stringent industry standards and environmental mandates.
 

U.S. Cryogenic Valve Market Share

Key players involve in the market are Parker Hannifin, Emerson Electric Co, Flowserve Corporation, Crane Company, Bray International accounting market share of 65-70% in 2023. Manufacturers compete by creating new cryogenic valves that provide better performance, energy efficiency, and cost-effectiveness. Differentiation via unique features, customized filtration media, and patented designs allows businesses to stand out in a competitive market. Continuous investment in research and development (R&D) allows enterprises to remain ahead of technological trends. Companies innovate by increasing valve efficiency, creating innovative cryogenic valves, improving system automation, and implementing smart features.
 

U.S. Cryogenic Valve Market Companies

Major companies operating in the U.S. cryogenic valve industry include:

• Alloy Valves and Control (AVCO)
• Bray International
• Crane Company
• Emerson Electric Co
• Flowserve Corporation
• FZV-Canada (Fangzheng Valve Group Co., Ltd.)
• HEROSE GmbH
• KITZ Corporation
• Ladish Valves
• Parker Hannifin
• Richards Industrials
• Sesto Valves
• SWI Valve
• Valves Only
• Velan     
   

U.S. Cryogenic Valve Industry News

• In January 2024, Emerson introduced the Fisher Easy-Drive 200R electric actuator for use on Fisher butterfly and ball valves. When paired with these valves, the new actuator performs accurately and reliably under the extreme conditions found in many heavy industries, particularly oil & gas installations in cold remote locations. These actuator/valve assemblies increase uptime, improve performance, and reduce the risk of emissions posed by gas-operated systems locations.
   
• In November 2023, Flowserve Corporation launched the Worcester cryogenic series of reduced-port, quarter-turn floating ball valves for LNG, hydrogen, and other industrial gas and cryogenic applications. Available in three-piece (CF44 series) and flanged (CF51/CF52 series) configurations, Worcester cryogenic valves feature a high-strength stem and provide exceptional fugitive emissions control from an improved live-loaded stem seal.
   

This U.S. cryogenic valve market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Million) (Thousand Units) from 2021 to 2032, for the following segments:

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Market, By Valve Type 

• LNG
  • Ball Valve
    • Floating Ball Valves
    • Trunnion Mounted Ball Valves
    • 3 Way Ball Valves
    • Fully Welded Ball Valves
    • Others (Screw End Ball Valves, Flanged End Ball Valves, Multi Port etc.)Other
  • Butterfly Valve
    • Double Offset Butterfly Valves
    • Triple Offset Butterfly Valves
    • High Performance Butterfly Valves 
    • Others (Actuated Butterfly Valves, Lug Butterfly Valves, etc.)
• Hydrogen
  • Ball Valve
    • Floating Ball Valves
    • Trunnion Mounted Ball Valves
    • 3 Way Ball Valves
    • Fully Welded Ball Valves
    • Others (Screw End Ball Valves, Flanged End Ball Valves, Multi Port etc.)
  • Butterfly Valve
    • Double Offset Butterfly Valves
    • Triple Offset Butterfly Valves
    • High Performance Butterfly Valves 
    • Others (Actuated Butterfly Valves, Lug Butterfly Valves, etc.) 

Market, By Function

• Manual
• Pneumatic/Electric/Hydraulic Control  

Market, By Size

• <1”
• 1” to 6"
• 7” to 25”
• 26” to 50”
• >50"

Market, By Application

• Gas Pipeline and Transportation
• Supplying Line
• Filling Device
• Bulk Storage Tank
• Others (Storage Tank & Piping, etc.)

Market, By Industry

• Upstream
• Midstream
• Downstream