South America Cryogenic Control Valve Market
SAM consists of Brazil, Argentina, and Rest of SAM. The Rest of SAM comprises Chile, Colombia, Guatemala, and Peru. Technological developments have had a direct impact on the economy of Brazil and Argentina, advancing it to a large extent. The consumption of oil & gas in South America is expected to increase in coming years as the region is experiencing rapid urbanization. The rising use of oil & gas would boost the application of cryogenic control valve for storing and transporting gas. SAM countries are attracting huge FDIs, especially in the onshore sector, due to cheap labor availability as well as low entry barriers and interest rates. For instance, Argentina is attracting FDIs by implementing a few strategies such as easing import restrictions, signing international bilateral agreements, and lifting foreign investment restrictions.
Brazil recorded the highest number of COVID-19 cases in SAM, followed by Argentina, Ecuador, Chile, and Peru. The disease outbreak adversely affected the mining and oil & gas sectors in the region. The manufacturing & construction, mining, and oil & gas activities are severely disrupted amid the pandemic, which has subsequently restrained the growth of the cryogenic control valve market in the region. Argentina and Brazil are two prime natural gas producing countries that account for ~40% of the total natural gas production in SAM. These countries witnessed a major decline in their oil & gas-related activities due to the collapsed prices, which further lowered the demand for cryogenic valves in the region. However, economies in SAM have begun recovering gradually since late 2020, and oil & gas companies have started their operations subsequently.
Strategic insights for the South America Cryogenic Control Valve provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 132.04 Million |
| Market Size by 2028 | US$ 184.28 Million |
| Global CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South America Cryogenic Control Valve refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The cryogenic control valve market in SAM is expected to grow from US$ 132.04 million in 2021 to US$ 184.28 million by 2028; it is estimated to grow at a CAGR of 4.9% from 2021 to 2028. For the production of oxygen, cryogenic valves are used in air separation plants on a large scale. Growing requirement of oxygen in recent times is also a driving factor contributing toward the growth of the cryogenic control valves market. Various types of cryogenic valves required for the gas industry are gate valve, check valve, globe valve, lift check valve, ball valve, pinch valve, stop check valve, butterfly valve, tilting-disc check valve, plug valve, diaphragm valve, safety valve, and pressure relief valve. With the rise in requirement for industrial gases in various industries like chemicals, petrochemicals, steelmaking, mining, environmental protection, metals, medicine, biotechnology, pharmaceuticals etc., demand for mentioned valves is also anticipated to increase considerably.
The SAM 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 SAM cryogenic control valve market is segmented into Brazil, Argentina, rest of SAM, Brazil held the largest market share in 2020.
A few major primary and secondary sources referred to for preparing this report on the cryogenic control valve market in SAM 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; Neles Corporation; Richards Industrials; SAMSON USA; and Velan Inc.
The South America Cryogenic Control Valve Market is valued at US$ 132.04 Million in 2021, it is projected to reach US$ 184.28 Million by 2028.
As per our report South America Cryogenic Control Valve Market, the market size is valued at US$ 132.04 Million in 2021, projecting it to reach US$ 184.28 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The South America Cryogenic Control Valve Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Cryogenic Control Valve Market report:
The South America Cryogenic Control Valve Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Cryogenic Control Valve Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Cryogenic Control Valve Market value chain can benefit from the information contained in a comprehensive market report.
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