The global cryogenic equipment market is anticipated to grow at a considerable CAGR of 5.8% during the forecast period (2021-2027). The significant rise in the trade of liquid natural gas (LNG) owing to increasing usage of LNG by the countries to phase out the non-renewable source of energy high cost of anticipated to drive the growth of cryogenic equipment market. The rising utility of cryogenic equipment in several end-user verticals for storage and distribution of liquefied gases at a lower temperature is expected to drive the market growth. However, the costly process of liquefaction for cryogenic gases is expected to hinder the cryogenic equipment market growth. The advancement and growing development of cryogenic technology in the field of healthcare is anticipated to create lucrative opportunities for the growth of the cryogenic equipment market during the forecast period.
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The global cryogenic equipment market is segmented based on equipment, cryogenic type, and end-user vertical. Based on equipment, the market is segmented into tanks, valves, pumps & vaporizers, and vacuum jacketed pipes. Based on cryogenic type, the market is segmented into oxygen, nitrogen, argon, and natural gas. Based on the end-user vertical, the market is segmented into oil & gas, energy & power, food & beverages, medical & healthcare, chemical, and marine & aerospace.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Cryogenic Equipment Market by Equipment
- Tanks
- Valves
- Pumps & Vaporizers
- Vacuum Jacketed Pipes
Global Cryogenic Equipment Market by Cryogen Type
- Oxygen
- Nitrogen
- Argon
- Natural Gas
Global Cryogenic Equipment Market by End-User Vertical
- OIL & GAS
- Energy & Power
- Food & Beverages
- Medical & Healthcare
- Chemical
- Marine & Aerospace
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Acme CRYOGENIC, Inc.
- Air Products and Chemicals, Inc.
- Beijing Tianhai Industry Co., Ltd.
- Chart Industries
- CryoFab, Inc.
- Cryolor
- Emerson Electric Co.
- Flowserve Corp.
- Furuise Europe
- Herose GmbH
- Honeywell International Inc.
- INOX India Pvt. Ltd. (INOXCVA)
- IWI Cryogenic Vaporization Systems (India) Pvt. Ltd.
- Linde PLC
- Parker-Hannifin Corp.
- PBS Group, A.S.
- Shell-N-Tube Pvt. Ltd.
- Sumitomo Heavy Industries, Ltd.
- Taylor-Wharton
- Thermo Fisher Scientific, Inc.
- VRV S.p. A.
- Wessington CRYOGENIC, Ltd.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cryogenic equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where in the market.
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