Cryogenic Equipment Market to Hit $17.1 Billion by 2025; Increasing Investments in Cryogenic Infrastructure to Augment Market Growth

Research Reports

Jul 21, 2021

According to the new market research report “Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping, and Others), and Region – Global forecast to 2025″ The global cryogenic equipment market is projected to reach USD 17.1 billion by 2025 from an estimated USD 12.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Rising demand for LNG across regions is creating demand opportunities for cryogenic equipment. Also, the increasing number of air separation units projects are driving the cryogenic equipment market. However, cryogenic equipment is feasible for large scale applications only.   

Browse 119 market data Tables and 34 Figures spread through 169 Pages and in-depth TOC on “Cryogenic Equipment Market

 

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=735

 

North America is estimated to be the second-fastest market for cryogenic equipment during the forecast period. The cryogenic equipment market in this region is expected to be driven primarily by the demand from the energy & power sector. The shale boom and the electronics manufacturing in the US, the growing chemicals and plastics sectors in Canada, and demand from onshore and offshore fields in the Gulf of Mexico are expected to foster the growth of the cryogenic equipment market in the region.

 

Vaporizers is the new revenue pocket in cryogenic equipment. The vaporizers are generally designed for customer station, distribution, and plant back up applications. The maximum available working pressure ranges from 40bar to 400bar for most of the vaporizers. It can also reach up to 1000bar depending upon the type and application. The vaporizers are typically made using aluminum material of different grades for different parts. An automatic switching system is a recent technology that allows switch-over to alternative vaporizer if the previous one has become inefficient due to frost build-up. It has wide applications in welding, environmental technology, water treatment, food processing, medical, energy, and electronic industry.

 

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=735

 

Liquefied oxygen seeks high application from the metallurgy industry as it is the most required gas for ignition and combustion purposes. According to the World Steel Association, in 2019, 72% of the steel production was done through oxygen. As the demand for steel increases, the demand for oxygen is likely to grow, further creating demand for oxygen-related cryogenic equipment. Similarly, Aerospace applications are increasing in the Asia Pacific region, with countries such as India and Russia venturing more into the space cryogenic engines. These engines have many advantages over conventional engines, hence they can be considered as one of the emerging market opportunities. Thus, increasing space missions also create opportunities for oxygen-related cryogenic equipment in the near future.

 

Some of the key players are Linde plc (Ireland), Chart Industries (US), Air Products (US), INOXCVA (India), Taylor Wharton (Japan), and Cryofab (US). The leading players are adopting various strategies to increase their share in the cryogenic equipment market. Contracts & agreements, and mergers & acquisitions have been a widely adopted strategy by the major players in the cryogenic equipment market.

 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

 

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Tags: Pumps, Cryogenic Equipment Market, Nitrogen, Oxygen, Cryogenic Equipment Industry, Valves, vaporizers, LNG, energy & power, Cryogenic Equipment, global cryogenic equipment market, anks, Cryogen, Argon See Campaign: http://www.marketsandmarkets.com/Market-Reports/cryogenic-equipment-market-735.html
Contact Information:
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 newsletter@marketsandmarkets.com

Tags:
, Reportedtimes, PR-Wirein, Extended Distribution, Research Newswire, English

YOU MAY ALSO LIKE

Liquid Coffee Creamer Market to Witness Stunning…

According to the new market research report “Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User…

read more

IP Surveillance Cameras Market is Going To…

According to the new market research report “Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User…

read more

Charity Software Market Seeking Excellent Growth |…

According to the new market research report “Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User…

read more