CHICAGO, Aug. 15, 2024 /PRNewswire/ -- The global Hydrogen Valve Market is expected to be valued at USD 331 Million in 2024 and is projected to reach USD 507 million by 2030 and grow at a CAGR of 7.4% from 2024 to 2030 according to a new report by MarketsandMarkets™. Growing demand for hydrogen, rising focus on clean fuels, and government initiatives to boost hydrogen production & consumption are attributed to the demand of hydrogen valves. The demand for hydrogen valve is Increasing in the wake of a global initiative to adoption of  clean source of energy such as hydrogen. Since there is high demand for hydrogen for various application, demand for valves that can sustain, an increase in pressure and corrosive conditions rises.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=27538308

Browse in-depth TOC on "Hydrogen Valve Market" 
160 – Tables
82 – Figures
236 – Pages

Hydrogen Valve Market Report Scope:

Hydrogen Ball Valves accounted for a larger market share in the forecasted year.

Hydrogen Valves accounted for a larger share in the forecasted period. Ball valves take the largest share of hydrogen valves for a few major reasons. The ball valves present very minimal flow resistance, thus allowing operations to run effectively by maintaining pressure and flow rates at their optimum. Effective flow control in any hydrogen system requires fast on/off - for both safety and efficiency. There They have strong construction, allowing them to be subjected to unfavorable operating conditions, and their simple Also, the design is easy to maintain and service. A favourable industry is further driving adoption in the market.

Below 1 inch hydrogen valve segment to account for the largest market share in the forecasted year.

Growth for below 1 inch hydrogen valves industry is driven by the increased adoption of hydrogen in industries like oil & gas, energy, and manufacturing. Hydrogen requires valves to handle high pressure and its corrosive nature. With growing infrastructure, especially in fuel cells and refueling stations, demand for hydrogen valves also rises. Backed by technological advancement, improved safety standards, and support from regulatory agencies, further fuel growth. The market is on the verge of dramatic growth in the light of changing trend toward sustainable and clean energy solutions.

Hydrogen Valve in Hydrogen fuel cell to grow at higher CAGR in the forecasted year.

With increasing demand for hydrogen fuel cell technology from industries such as automotive, industrial, and energy storage, the hydrogen fuel valve market is growing fast. This could be influenced by the enhanced fuel cells efficiency and incentives from the government towards clean energy. Hydrogen valves are an important factor in safety, control, and overall performance in such systems. It is also forecasted that special hydrogen valves will see an important increase in the market with increasing demand for zero-emission vehicles and solutions related to renewable energies.

Oil & Gas segment to account for the largest market share in the forecasted year.

The growth in the hydrogen valve market will be high as a part of the oil and gas industry, due to several factors. With the global energy transition trending toward cleaner sources, oil and gas companies are currently interested in hydrogen as one of the viable carriers of energy. As decarbonization efforts and sustainability goals set in, so is the rising demand for valves that can handle hydrogen safely and with high efficiency. Another reason that increases demand is the expansion of hydrogen infrastructure and supportive regulatory frameworks, while technological innovation in valve design—to ensure better performance and safety—is strengthening. Besides, most hydrogen valves are compatible with existing systems, easily enabling companies to transit. After all, ensuring safety and reliability in operations related to hydrogen handling asks specialized valves a question of critical operational integrity, thus highly boosting the growth of this segment of the market.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=27538308

Asia Pacific is expected to hold the largest share of the data center accelerator market during the forecast period.

The largest market share of hydrogen valves is held by the Asia-Pacific region, wherein rapid industrialization fuels demand across various sectors. Government initiatives to popularize hydrogen as a clean source of energy and substantial investment in infrastructure also serve as additional factors. Specifically, the needs for a hydrogen economy are very absolute in light of ever-growing energy demands, which require development on valve performance and reliability through technological advancement and research. Moreover, increasing the share of solar and wind energy in the energy mix increases hydrogen production from electrolysis; for that, effective valve solutions are required. Strategic cooperation between governments, industry, and research institutions supports innovation, while aging infrastructure upgrades further increase the demand for modern hydrogen valves, which will consecutively seal regional leadership in the market.

Key Players

The key Hydrogen Valve companies that offer hydrogen valve include Emerson Electric Co. (US), IMI (UK), SLB (US), Valmet (Finland), Crane Company (US), Westport Fuel Systems Inc. (Canada), KITZ Corporation (US),  PARKER HANNIFIN CORP (US), Baker Hughes Company (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=27538308

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports & Consulting

Related Reports: 

Industrial Valves Market Size, Share, Statistics and Industry Growth Analysis Report by Type (Ball, Butterfly, Globe, Gate, Diaphragm, Safety, Check, Plug), Material (Steel, Cast Iron, Alloy Based, Cryogenic, Plastic, Bronze, Brass), Component (Actuator, Positioner), Function - Global Forecast to 2028

Control Valve Market by Material (Stainless Steel, Cast Iron, Cryogenic, Alloy Based), Component (Actuators, Valve Body), Size, Type (Rotary, Linear), Industry (Oil & Gas, Water & Wastewater, Energy & Power, Chemicals) & Region - Global Forecast to 2029

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/hydrogen-valve-companies.asp  
Content Source: https://www.marketsandmarkets.com/PressReleases/hydrogen-valve.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

View original content:https://www.prnewswire.com/news-releases/hydrogen-valve-market-worth-507-million-by-2030---exclusive-report-by-marketsandmarkets-302222091.html

SOURCE MarketsandMarkets