Middle East & Africa Cryogenic Control Valve Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Globe Control Valves, Ball Control Valves, Butterfly Control Valves, and Others), and Application (Power Generation, Oil and Gas, Food and Beverages, and Others)
Market Introduction
South Africa, Saudi Arabia, and the UAE are the major countries of the Middle East & Africa. The MEA is projected to witness a rapid rise in urbanization and industrialization, which would further drive the growth of the entire economy in coming years. The Gulf countries are economically advanced, while the African countries are yet to balance the economic conditions. Similarly, the boost in per capita income, recovering economic conditions, and government spending on infrastructure development are a few crucial developments in the region. Oil & gas production is one of the prominent businesses in the MEA. Libya, the UAE, Saudi Arabia, Iran, and Qatar are a few countries that have seen growth in the oil business. Further, Saudi Arabia, the UAE, and Kuwait are among major producers of natural gas in the region. Saudi Arabia recorded 4,018 BCF natural gas production in 2020, whereas the UAE and Kuwait produced 2, 236 BCF and 626 BCF natural gas, respectively, in 2018. Despite the slowdown in economic growth and substantial macroeconomic imbalances due to low oil prices in the last a few years, oil & gas producing countries in the MEA are boosting the oil & gas production. The region is the major producer of oil & gas products, which is creating a scope for the application of cryogenic control valve. In addition, the growing trend toward clean energy sources and increasing use of natural gas across industrial bases are bolstering the growth of the cryogenic control valve market in Middle East.
Countries in Middle East, especially the gulf cooperation council (GCC) countries, have witnessed a notable decline in their oil & gas sector owing to a sharp dip in the demand for oil from major end-user countries from Asia, Europe, and North America. As a result, countries in the MEA registered decrease in the oil & gas production volumes as well as in natural gas storage and transportation, which subsequently hampered the demand for cryogenic valves in the region. Countries such as Saudi Arabia, the UAE, Qatar, and selected other members of 0rganization of the petroleum exporting countries observed similar trends during the first two quarters of 2020. However, these countries are expected to overcome the swift drop in demand as the major end-use countries of oil & gas continue to open their economic activities and oil & gas price started to recover. However, the oil and gas price recovery are expected to increase the application of cryogenic control valve in the region and proliferate the market growth in the coming years.
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Market Overview and Dynamics
The cryogenic control valve market in MEA is expected to grow from US$ 211.67 million in 2021 to US$ 279.10 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028. There is an increase in demand for industrial gases in developed as well as developing countries in MEA. Various industrial gases are produced for specific applications in various industries. Some of the majorly used industrial gases are oxygen, nitrogen, argon, carbon dioxide, helium, hydrogen, and acetylene, among others. Cryogenic valves are widely used for transport, use, and storage of liquefied gases such as compressed natural gas (CNG) and liquefied natural gas (LNG). The demand for liquefied gases such as liquid nitrogen, is increasing in cryo therapy for removing skin abnormalities, transportation and freezing of food products, cooling of superconductors, and cryo preservation of blood.
Key Market Segments
The MEA cryogenic control valve market is bifurcated on the bases of type, application, and country. The market, based on type, is segmented into globe control valves, ball control valves, butterfly control valves, and others. In 2020, the ball control valves segment accounted for the largest market share. By application, the market is segmented into power generation, oil & gas, food & beverages, and others. The oil & gas segment held substantial market share in 2020. Based on country, the MEA cryogenic control valve market is segmented into Saudi Arabia, South Africa, UAE, and rest of MEA. Saudi Arabia held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the cryogenic control valve market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Bac Valves; Baker Hughes Company; Emerson Electric Co.; Flowserve Corporation; KORVAL Co., Ltd.; Larsen & Toubro Limited; Neles Corporation; Richards Industrials; SAMSON USA; and Velan Inc.
Reasons to buy report
- To understand the MEA cryogenic control valve market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA cryogenic control valve market.
- Efficiently plan M&A and partnership deals in MEA cryogenic control valve market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA cryogenic control valve market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.
MEA Cryogenic Control Valve Market Segmentation
MEA Cryogenic Control Valve Market - By Type
- Globe Control Valves
- Ball Control Valves
- Butterfly Control Valves
- Others
MEA Cryogenic Control Valve Market - By Application
- Power Generation
- Oil and Gas
- Food and beverages
- Other Applications
MEA Cryogenic Control Valve Market - By Country
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
MEA Cryogenic Control Valve Market - Company Profiles
- Bac Valves
- Baker Hughes Company
- Emerson Electric Co.
- Flowserve Corporation
- KORVAL Co., Ltd.
- Larsen & Toubro Limited
- Neles Corporation
- Richards Industrials
- SAMSON USA
- Velan Inc.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Cryogenic Control Valve Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.2.1
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. MEA Cryogenic Control Valve Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Requirement for Industrial Gases
5.1.2 FSRU and FPSO Getting Popular
5.2 Market Restraints
5.2.1 Increasing Manufacturing Cost
5.3 Market Opportunities
5.3.1 Power Generation Industry Growing Fast
5.4 Market Trends
5.4.1 Health Care Sector Expanding Very Fast
5.5 Impact Analysis of Drivers and Restraints
6. Cryogenic Control Valve Market – MEA Analysis
6.1 MEA Cryogenic Control Valve Market Overview
6.2 MEA Cryogenic Control Valve Market Revenue Forecast and Analysis
7. MEA Cryogenic Control Valve Market Analysis – By Type
7.1 Overview
7.2 Globe Control Valves
7.2.1 Overview
7.2.2 MEA Globe Control Valve Market Revenue and Forecasts to 2028 (US$ Million)
7.3 Ball Control Valves
7.3.1 Overview
7.3.2 MEA Ball Control Valves Market Revenue and Forecasts to 2028 (US$ Million)
7.4 Butterfly Control Valves
7.4.1 Overview
7.4.2 MEA Butterfly Control Valves Market Revenue and Forecasts to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 MEA Others Market Revenue and Forecasts to 2028 (US$ Million)
8. MEA Cryogenic Control Valve Market Analysis – By Application
8.1 Overview
8.2 Power Generation
8.2.1 Overview
8.2.2 MEA Power Generation Market Revenue and Forecasts to 2028 (US$ Million)
8.3 Oil & Gas
8.3.1 Overview
8.3.2 MEA oil and gas Market Revenue and Forecasts to 2028 (US$ Million)
8.4 Food & Beverages
8.4.1 Overview
8.4.2 MEA Food and beverages Market Revenue and Forecasts to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 MEA Others Market Revenue and Forecasts to 2028 (US$ Million)
9. MEA Cryogenic Control Valve Market – Country Analysis
9.1 Overview
9.1.1
9.1.2 MEA: Cryogenic Control Valve Market, by Key Country
9.1.2.1 South Africa: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1.1 South Africa: Cryogenic Control Valve Market, by Type
9.1.2.1.2 South Africa: Cryogenic Control Valve Market, by Application
9.1.2.2 UAE: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.2.1 UAE: Cryogenic Control Valve Market, by Type
9.1.2.2.2 UAE: Cryogenic Control Valve Market, by Application
9.1.2.3 Saudi Arabia: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.3.1 Saudi Arabia: Cryogenic Control Valve Market, by Type
9.1.2.3.2 Saudi Arabia: Cryogenic Control Valve Market, by Application
9.1.2.4 Rest of MEA: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.4.1 Rest of MEA: Cryogenic Control Valve Market, by Type
9.1.2.4.2 Rest of MEA: Cryogenic Control Valve Market, by Application
10. MEA Cryogenic Control Valve Market - Covid-19 Impact Analysis
10.1 MEA: Impact Assessment of Covid-19 Pandemic
11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development
12. Company Profiles
12.1 Baker Hughes Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Emerson Electric Co.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Flowserve Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Velan Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 KORVAL Co., Ltd.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Larsen & Toubro Limited
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Neles Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 SAMSON USA
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Bac Valves
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Richards Industrials
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. MEA Cryogenic Control Valve Market Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA: Cryogenic Control Valve Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. South Africa: Cryogenic Control Valve Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. South Africa: Cryogenic Control Valve Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. UAE: Cryogenic Control Valve Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. UAE: Cryogenic Control Valve Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Saudi Arabia: Cryogenic Control Valve Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Saudi Arabia: Cryogenic Control Valve Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of MEA: Cryogenic Control Valve Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of MEA: Cryogenic Control Valve Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Cryogenic Control Valve Market Segmentation
Figure 2. MEA Cryogenic Control Valve Market Segmentation – By Country
Figure 3. MEA Cryogenic Control Valve Market Overview
Figure 4. MEA Cryogenic Control Valve Market, by Type
Figure 5. MEA Cryogenic Control Valve Market, by Application
Figure 6. MEA Cryogenic Control Valve Market, by Country
Figure 7. MEA PEST Analysis
Figure 8. MEA Cryogenic Control Valve Market- Ecosystem Analysis
Figure 9. MEA Cryogenic Control Valve Market Impact Analysis of Drivers and Restraints
Figure 10. MEA Cryogenic Control Valve Market Revenue Forecast and Analysis (US$ Million)
Figure 11. MEA Cryogenic Control Valve Market Breakdown by Type, 2020 & 2028 (%)
Figure 12. MEA Globe Control Valve Market Revenue and Forecasts to 2028 (US$ Million)
Figure 13. MEA Ball Control Valves Market Revenue and Forecasts to 2028 (US$ Million)
Figure 14. MEA Butterfly Control Valves Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. MEA others Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. MEA Cryogenic Control Valve Market Breakdown by Application, 2020 & 2028 (%)
Figure 17. MEA Power Generation Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. MEA oil and gas Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. MEA Food and beverages Market Revenue and Forecasts to 2028 (US$ Million)
Figure 20. MEA others Market Revenue and Forecasts to 2028 (US$ Million)
Figure 21. MEA: Cryogenic Control Valve Market, by Key Country – Revenue (2020) (US$ Million)
Figure 22. MEA: cryogenic control valve market Revenue Share, by Key Country (2020 and 2028)
Figure 23. South Africa: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. UAE: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Saudi Arabia: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of MEA: Cryogenic Control Valve Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of Covid-19 Pandemic in MEA Country Markets
- Bac Valves
- Baker Hughes Company
- Emerson Electric Co.
- Flowserve Corporation
- KORVAL Co., Ltd.
- Larsen & Toubro Limited
- Neles Corporation
- Richards Industrials
- SAMSON USA
- Velan Inc.
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