Cryogenic Valves Market Research Report — Global Forecast till 2030

The global cryogenic valves market size was valued at USD 3.63 billion in 2024 and is projected to reach USD 5.40 billion by 2030, growing at a CAGR of 6.9% from 2025 to 2030. This robust growth can be attributed to the rising adoption of cleaner and more sustainable energy sources, particularly liquefied natural gas (LNG), which is increasingly being used as an alternative to conventional fossil fuels.

With global efforts to cut carbon emissions and transition toward low-carbon energy systems, LNG has emerged as a viable option for diverse applications such as transportation, power generation, and industrial processes. This shift requires the development and expansion of highly reliable cryogenic infrastructure, in which cryogenic valves play a critical role in ensuring the safe handling, storage, and transport of liquefied gases at extremely low temperatures.

Beyond the energy sector, the healthcare and biotechnology industries are also contributing to market growth. Cryogenic systems are essential for storing and transporting medical gases, vaccines, and biological materials, ensuring their preservation at ultra-low temperatures. Growing investments in medical research, vaccine production, and biotechnology advancements are further boosting demand for specialized cryogenic valves that can meet stringent safety and performance standards.

Key Market Trends & Insights:

• Asia Pacific dominated the global cryogenic valves market, accounting for the largest revenue share of 46.5% in 2024, driven by increasing LNG infrastructure projects, rapid industrialization, and expanding healthcare needs.
• North America is expected to grow at a CAGR of 6.8% over the forecast period, supported by rising LNG exports, shale gas production, and advanced healthcare applications.
• Ball valves were the leading product segment in 2024, holding the largest revenue share of 42.0%, due to their durability, leak-proof design, and suitability for cryogenic operations. Check valves are projected to grow at the fastest CAGR of 7.4% during the forecast period, as their demand rises in industries where reverse flow prevention is critical.
• The oil & gas sector was the dominant end-use segment in 2024, accounting for 42.8% of the market, driven by LNG processing and storage facilities. The chemical industry is expected to witness the fastest growth, with a projected CAGR of 7.4%, as it increasingly incorporates cryogenic processes for manufacturing and storage.

Order a free sample PDF of the Cryogenic Valves Market Intelligence Study, published by Grand View Research.

Market Size & Forecast:

• 2024 Market Size: USD 3.63 Billion
• 2030 Projected Market Size: USD 5.40 Billion
• CAGR (2025-2030): 6.9%
• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

Leading companies in the global cryogenic valves market are focusing on product innovation, expanding product portfolios, and investing heavily in research and development to improve valve performance, safety, and energy efficiency. Many players are also engaging in strategic partnerships, mergers & acquisitions, and distribution network expansions to strengthen their global presence.

• Velan Inc. is a prominent manufacturer of industrial valves, including cryogenic variants, serving industries such as oil & gas, power generation, and chemical processing. With a strong global footprint through manufacturing plants and sales offices worldwide, Velan’s cryogenic valves are recognized for advanced sealing technologies, durability, and the ability to operate effectively under extreme temperature conditions while meeting stringent industry standards.
• Emerson Electric Co. offers innovative solutions for industrial, commercial, and residential markets, operating through two primary segments: Automation Solutions, which help industries optimize production and improve operational efficiency, and Commercial & Residential Solutions, which enhance comfort, energy efficiency, and product safety. In the cryogenic space, Emerson provides valves and automation systems designed for precise control, reliability, and long-term operational performance.

Key Players

• Velan Inc.
• Emerson Electric Co.
• Herose GmbH
• Parker Hannifin Corporation
• Flowserve
• L&T
• BAC Valves
• Bray International, Inc.
• Habonim Valve Solutions
• Powell Valves

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion:

In conclusion, the global cryogenic valves market is poised for steady growth, driven by the rising adoption of LNG as a cleaner energy source, expanding cryogenic infrastructure, and increasing applications in healthcare and biotechnology. With Asia Pacific leading in revenue share and strong growth expected in North America, advancements in valve technology, strategic industry collaborations, and diversification into high-growth sectors such as chemicals will continue to shape the market through 2030.