HOME Top Market Reports Cryogenic Equipment Market by Application (Energy & Power, Chemicals. Metallurgy, Electronics and Shipbuilding), by Cryogen Gases (Nitrogen, Oxygen, Argon and LNG), & by Product Type (Tank, Valve, Vaporizer & Pump) - Global Trend & Forecast to 2019

Cryogenic Equipment Market by Application (Energy & Power, Chemicals. Metallurgy, Electronics and Shipbuilding), by Cryogen Gases (Nitrogen, Oxygen, Argon and LNG), & by Product Type (Tank, Valve, Vaporizer & Pump) - Global Trend & Forecast to 2019

By: marketsandmarkets.com
Publishing Date: April 2015
Report Code: EP 3337

 

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Cryogenic equipment are employed to create, withstand, and operate in temperature below -150°C. They are used for refrigeration or creating a low temperature conditions through cryogenic gases such as nitrogen, helium, and argon among others. Cryogenic equipment include containers, pressure vessels, cold traps, purifiers, and piping. The key for the successful operation of the cryogenic equipment is the insulation that prevents the temperature inside the equipment to alter with a change in external temperatures. These equipment require specific pressure to be maintained to ensure that the desired temperature is sustained.

The cryogenic equipment market has been segmented on the basis of type, application, cryogen gases, and region. The market, on the basis of application, has been segmented into industries, infrastructure, and power.

These equipment find applications majorly in the energy & power, chemicals, and metallurgy industry. LNG production held the largest estimated market share of the application market for cryogenic equipment in 2014.

Leading players in the cryogenic equipment market, with their recent developments and other strategic industry activities, have been profiled in this report. These include Chart Industries Inc. (U.S.)), Linde Group AG (Germany), V.R.V S.p.a (Italy), and Inox India Ltd. (India).

Asia-Pacific is expected to be a lucrative market with an estimated value of $7.83 billion by 2019

Cryogenic Equipment Market Size, by Application, 2014 & 2019 ($Billion)

Cryogenic Equipment Market

Source: Expert Interviews, Secondary Literature and MarketsandMarkets Analysis

The market for cryogenic equipment in Asia-Pacific is majorly driven by the growing industrial demands and increased LNG trade through pipelines and other modes.

The cryogenic equipment market has also been analyzed with respect to Porter's Five Force model. Analysis of the sector’s value chain and the various factors affecting the stages of the value chain has been tracked, to assess and evaluate the Five Forces of the Porter’s model. The report also describes the competitive landscape of major market players that includes new product developments, mergers and acquisition, facility expansion, agreements and collaborations, and contracts. Key developments have been mapped based on the market players involved, to determine the growth strategies implemented by the leaders within the segment. The report also classifies and defines the value of cryogenic equipment and various gases, with respect to the demand for the equipment for their production, transportation, and storage. This study also provides a comprehensive review of the major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the cryogenic equipment market.

Scope of the Report:

The global cryogenic equipment market has been analyzed in terms of revenue ($million) for the following types, applications, and regions.

By Application

  • Energy & Power
  • Chemicals
  • Metallurgy
  • Electronics
  • Ship Building
  • Others- defence industry, food processing, animal husbandry, aerospace and railroad.

By Cryogen Gases

  • Nitrogen
  • Oxygen
  • Argon
  • LNG
  • Others- helium, hydrogen and carbon dioxide

By Type

  • Tank
  • Valve
  • Vaporizer
  • Pump
  • Others- dewars, tunnel freezers, strainers, and samplers

By Region

  • North America
  • Europe
  • Asia-Pacific
  • The Middle East
  • South America
  • Africa

Table of Content

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
    1.4 Year
    1.5 Currency
    1.6 Package Size
    1.7 Limitations
    1.8 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Factor Analysis
           2.2.1 Introduction
           2.2.2 Rise in Crude Oil Production
           2.2.3 Increasing Capital Spending on Exploration & Production Activities
    2.3 Market Size Estimation
    2.4 Market Breakdown & Data Triangulation
    2.5 Research Assumptions & Limitations
           2.5.1 Assumptions
           2.5.2 Limitations

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in the Cryogenic Equipment Market
    4.2 Cryogenic Equipment Market, By Type
    4.3 Cryogenic Equipment Market Application vs. Types
    4.4 Asia-Pacific Holds the Largest Market Share in Terms of Value
    4.5 Cryogenic Equipment Market: Developed vs. Developing Nations
    4.6 Cryogenic Equipment Market, By Application (2014–2019)
    4.7 Asia-Pacific Cryogenic Equipment Market, By Type

5 Market Overview (Page No. - 42)
    5.1 Introduction
    5.2 Evolution
    5.3 Market Segmentation
           5.3.1 By Application
           5.3.2 Some Major Applications of Cryogenic Technology
           5.3.3 By Type
           5.3.4 By Cryogen Gases
           5.3.5 By Region
    5.4 Market Dynamics
           5.4.1 Selection of Equipment
           5.4.2 Drivers
                    5.4.2.1 Increasing Demand for LNG
                    5.4.2.2 Improving Healthcare Services in the Developing Economies
                    5.4.2.3 Industrialization & Urbanization Are the Driving Forces of the Market
           5.4.3 Restraint
                    5.4.3.1 Stringent Regulations for the Cryogenic Equipment/Technology
           5.4.4 Opportunity
                    5.4.4.1 Natural Gas Pipelines
                    5.4.4.2 Space Applications for Cryogenic Technologies
                    5.4.4.3 Cryogenic Energy Storage Systems
           5.4.5 Challenge
                    5.4.5.1 Cryogen Leakage

6 Industry Trends (Page No. - 55)
    6.1 Value Chain Analysis
    6.2 Industry Trends
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
                    6.3.1.1 Investment Risks
                    6.3.1.2 Volatility of Oil Prices
           6.3.2 Threat of Substitutes
                    6.3.2.1 No Direct Substitute Available
           6.3.3 Bargaining Power of Suppliers
                    6.3.3.1 Raw Material Market is Mature
                    6.3.3.2 Large Number of Suppliers
           6.3.4 Bargaining Power of Buyers
                    6.3.4.1 Equipment Providers Are Outnumbered By the Buyers
           6.3.5 Intensity of Rivalry
                    6.3.5.1 Less Number of Players Dominate the Market

7 Cryogenic Equipment Market, By Type (Page No. - 61)
    7.1 Cryogenic Equipment Market, By Product Type
           7.1.1 Introduction
           7.1.2 Tanks
           7.1.3 Valves
           7.1.4 Vaporizers
           7.1.5 Pumps
           7.1.6 Other Equipment
                    7.1.6.1 Tunnel Freezers
                    7.1.6.2 Dewar
                    7.1.6.3 Strainers
                    7.1.6.4 Samplers

8 Cryogenic Equipment Market, By Application (Page No. - 73)
    8.1 Introduction
           8.1.1 Energy & Power
           8.1.2 Chemical
           8.1.3 Metallurgy
           8.1.4 Electronics
           8.1.5 Shipping
           8.1.6 Other Industries

9 Cryogenic Equipment Market, By Cryogen Type (Page No. - 84)
    9.1 Introduction
           9.1.1 Nitrogen
           9.1.2 Oxygen
           9.1.3 Argon
           9.1.4 LNG (Liquefied Natural Gas)
           9.1.5 Other Cryogen Gases

10 Cryogenic Equipment Market, By Region (Page No. - 92)
     10.1 Introduction
             10.1.1 Asia-Pacific
                       10.1.1.1 China
                       10.1.1.2 India
                       10.1.1.3 Australia
                       10.1.1.4 Japan
                       10.1.1.5 Malaysia
             10.1.2 Europe
                       10.1.2.1 U.K.
                       10.1.2.2 France
                       10.1.2.3 Germany
             10.1.3 North America
                       10.1.3.1 U.S.
                       10.1.3.2 Canada
             10.1.4 Middle East
                       10.1.4.1 Saudi Arabia
     10.2 South America
             10.2.1 Brazil
             10.2.2 Argentina
     10.3 Africa
             10.3.1 South Africa

11 Competitive Landscape (Page No. - 127)
     11.1 Overview
     11.2 Contracts & Agreements 2011–2015
     11.3 Expansion 2011–2014
     11.4 New Product Launch 2011–2014
     11.5 Mergers & Acquisitions 2011–2014
     11.6 Other Developments 2011–2015

12 Company Profiles (Page No. - 140)
     12.1 Introduction
     12.2 Air Liquide
             12.2.1 Business Overview
             12.2.2 Products & Services
             12.2.3 Recent Developments
             12.2.4 SWOT Analysis
             12.2.5 MNM View
     12.3 Beijing Tianhai Industry Co., Ltd.
             12.3.1 Business Overview
             12.3.2 Products & Services
             12.3.3 Recent Developments
     12.5 Cryofab Inc.
             12.5.1 Business Overview
             12.5.2 Product Portfolio
             12.5.3 Key Strategies
             12.5.4 Recent Developments (January 2010–January 2015)
             12.5.5 SWOT Analysis
             12.5.6 MNM View
     12.6 Cryoquip LLC.
             12.6.1 Business Overview
             12.6.2 Products & Services
             12.6.3 Key Strategy
             12.6.4 Recent Developments
     12.7 Herose GMBH
             12.7.1 Business Overview
             12.7.2 Products & Services
             12.7.3 Key Strategy
             12.7.4 Recent Developments
     12.8 Inox India Ltd.
             12.8.1 Business Overview
             12.8.2 Products & Services
             12.8.3 Key Strategy
             12.8.4 Recent Developments
             12.8.5 SWOT Analysis
             12.8.6 MNM View
     12.9 Linde Group AG
             12.9.1 Business Overview
             12.9.2 Product Portfolio
             12.9.3 Key Strategy
             12.9.4 Recent Developments, (January 2011 – December 2014)
             12.9.5 SWOT Analysis
             12.9.6 MNM View
     12.10 Taylor-Wharton International LLC.
             12.10.1 Business Overview
             12.10.2 Products & Services
             12.10.3 Key Strategy
             12.10.4 Recent Developments
     12.11 VRV S.P.A.
             12.11.1 Business Overview
             12.11.2 Product & Services
             12.11.3 Key Strategy
             12.11.4 Recent Developments, (January 2011 – January 2015)
             12.11.5 SWOT Analysis
             12.11.6 MNM View
     12.12 Wessington Cryogenics Ltd.
             12.12.1 Business Overview
             12.12.2 Product Portfolio
             12.12.3 Key Strategy
             12.12.4 Recent Developments, (January 2011 – January 2015)

13 Appendix (Page No. - 180)
     13.1 Insights of the Industry Experts
     13.2 Other Developments, 2010–2015
     13.3 Discussion Guide


List of Tables (72 Tables)

Table 1 Various Cryogen With Their Boiling Points
Table 2 Stringent Regulations for the Cryogenic Equipment/Technology is the Major Restraining Force for the Global Market
Table 3 Natural Gas Pipelines Offers High Growth Opportunities for Manufacturers
Table 4 Cryogen Leakage Norms: A Challenge for the Industry
Table 5 Cryogenic Equipment Market Size, By Product Type, 2012–2019 ($Million)
Table 6 Cryogenic Tanks Market Size, By Application, 2012–2019 ($Million)
Table 7 Cryogenic Tanks Market Size, By Region, 2012–2019 ($Million)
Table 8 Cryogenic Valves Market Size, By Application, 2012–2019 ($Million)
Table 9 Cryogenic Valves Market Size, By Region, 2012–2019 ($Million)
Table 10 Cryogenic Vaporizers Market Size, By Application, 2012 – 2019 ($Million)
Table 11 Cryogenic Vaporizers Market Size, By Application, 2012 – 2019 ($Million)
Table 12 Cryogenic Pumps Market Size, By Application, 2012 – 2019 ($Million)
Table 13 Cryogenic Pumps Market Size, By Application, 2012 – 2019 ($Million)
Table 14 Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 15 Energy & Power Industry Market Size, By Product Type, 2012–2019 ($Million)
Table 16 Chemicals Industry Market Size, By Product Type, 2014–2019 ($Million)
Table 17 Metallurgy Industry Market Size, By Product Type, 2014–2019 ($Million)
Table 18 Electronics Industry Market Size, By Product Type, 2014–2019 ($Million)
Table 19 Ship Building Industry Market Size, By Product Type, 2014–2019 ($Million)
Table 20 Other Industries Market Size, By Product Type, 2014–2019 ($Million)
Table 21 Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 22 Nitrogen: Cryogenic Equipment Market Size, By Region, 2012–2019 ($Million)
Table 23 Oxygen: Cryogenic Equipment Market Size, By Region, 2012–2019 ($Million)
Table 24 Argon: Cryogenic Equipment Market Size, By Region, 2012–2019 ($Million)
Table 25 LNG: Cryogenic Equipment Market Size, By Region, 2014–2019 ($Million)
Table 26 Other Cryogen Gases: Cryogenic Equipment Market Size, By Region, 2014–2019 ($Million)
Table 27 Cryogenic Equipment Market Size, By Region, 2014–2019 ($Million)
Table 28 Asia-Pacific: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 29 Asia-Pacific: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 30 China: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 31 China: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 32 India: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 33 India: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 34 Australia: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 35 Australia: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 36 Japan: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 37 Japan: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 38 Malaysia: Cryogenic Equipment Market Size, By Equipment Type, 2012 – 2019 ($Million)
Table 39 Malaysia: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 40 Europe: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 41 Europe: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 42 U.K.: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 43 U.K.: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 44 France: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 45 France: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 46 Germany: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 47 Germany: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 48 North America: Cryogenic Equipment Market Size, By Country, 2012–2019($Million)
Table 49 North America: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 50 U.S.: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 51 U.S.: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 52 Canada: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 53 Canada: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 54 Middle East: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 55 Middle East: Cryogenic Equipment Market Size, By Application, 2012–2019
Table 56 Saudi Arabia: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 57 Saudi Arabia: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 58 South America: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 59 South America: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 60 Brazil: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 61 Brazil: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 62 Argentina: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 63 Argentina: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 64 Africa: Cryogenic Equipment Market Size, By Country, 2012–2019 ($Million)
Table 65 Africa: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 66 South Africa: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 67 South Africa: Cryogenic Equipment Market Size, By Application, 2012–2019 ($Million)
Table 68 Contracts & Agreements
Table 69 Expansion
Table 70 New Product Launch
Table 71 Mergers & Acquisitions
Table 72 Other Developments (Certification, Partnership, & Product Development)
 
 
List of Figures (47 Figures)
 
Figure 1 Markets Covered: Cryogenic Equipment Market
Figure 2 Cryogenic Equipment Market: Research Design
Figure 3 Crude Oil Production Has Increased By 3 Million Bpd in the Past Five Years
Figure 4 Producing Well Count is Estimated to Be More Than One Million
Figure 5 Capital Spending on Exploration & Production Activities to Exceed $700 Billion in 2014
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Data Triangulation Methodology
Figure 9 Cryogenic Equipment Market Snapshot (2014 vs. 2019): Tanks to Lead the Market in the Next Five Years
Figure 10 Energy & Power Applications to Have Largest Share Among Other Applications of Cryogenic Equipment During the Forecast Period
Figure 11 Cryogenic Equipment Market Size, By Cryogen Gases, 2019
Figure 12 Asia-Pacific Accounted for the Largest Market Share in Cryogenic Equipment Market in 2014
Figure 13 LNG Demand in Developing as Well as Developed Countries Offer Lucrative Opportunities
Figure 14 Vaporizers Are Expected to Grow at A Faster Rate in the Global Market
Figure 15 Energy & Power Applications Held the Largest Market Share in 2014
Figure 16 The Middle East & Africa Are Expected to Grow at A High CAGR
Figure 17 Developing Economies to Grow Faster Than the Developed Ones
Figure 18 More Than 30% of the Total Market Growth Will Come From the Energy & Power Application During the Forecast Period
Figure 19 Tanks Have A Promising Future in Emerging Economies of the Asia-Pacific Region
Figure 20 The Middle East Market is Expected to Enter the Exponential Growth Phase in Coming Years
Figure 21 Cryogenic Equipment Market Segmentation: By Application
Figure 22 Cryogenic Equipment Market Segmentation: By Type
Figure 23 Cryogenic Equipment Market Segmentation: By Cryogen Gases
Figure 24 Industrialization & Modernization of Existing Infrastructures to Propel Market Growth
Figure 25 LNG Production From 1993–2013
Figure 26 Value Chain Analysis: Major Value is Added During Operation & After-Sales Phase
Figure 27 Porter’s Five Forces Analysis: Intensity of Rivalry is High in the Cryogenic Equipment Market
Figure 28 Tanks to Have the Largest Market By 2019
Figure 29 Ship Building is Expected to Have the Highest Growth During the Forecast Period
Figure 30 Cryogenic Equipment for LNG Are Expected to Show the Highest Growth During the Forecast Period
Figure 31 Region-Wise Snapshot: Rapidly Growing Markets Are Emerging as New Hotspots
Figure 32 Companies Adopted Various Growth Strategies in the Past Four Years
Figure 33 Market Share Analysis, 2013
Figure 34 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By the Key Players
Figure 35 Market Leaders Based on the Developments 2011–2014
Figure 36 Market Evolution Framework- Contracts & Agreements Has Led to Market Growth & Expansions Has Fueled Growth & Innovation in 2011 –2014
Figure 37 Geographic Mix of the Top Players
Figure 38 Air Liquide: Business Overview
Figure 39 Beijing Tianhai Industry Co., Ltd.: Business Overview
Figure 40 Cryofab Inc.: Business Overview
Figure 41 Cryoquip LLC.: Business Overview
Figure 42 Herose GMBH: Business Overview
Figure 43 Inox India Ltd.: Business Overview
Figure 44 Linde Group AG: Business Overview
Figure 45 Taylor Wharton International LLC.: Business Overview
Figure 46 VRV S.P.A.: Business Overview
Figure 47 Wessington Cryogenics Ltd.: Business Overview

Cryogenic equipment include tanks, valves, vaporizers, and pumps, among other components. They are specially made to handle liquefied gases that exist at very low temperatures. Tanks are the most commonly used cryogenic equipment, and this segment leads all the other equipment segments in terms of market share. This segment is followed by the vaporizers segment. Vaporisers are mostly used for the conversion of liquid to gas state of the cryogen fluid.

Cryogenic equipment generally finds its application in energy& power, chemical, metallurgical, electronics, and shipbuilding industries. Significant presence of such equipment can be observed in the aerospace and railroad industry in the near future. Apart from these markets, cryogenic equipment also has a good scope in the poultry and tool treatment industry.

The Global Cryogenic Market is projected to witness high growth on account of rising energy demand which is driving attention towards greener fuels. The cryogenic equipment market was estimated to be at $14.47 billion in 2014 and is projected to reach $21.09 billion by 2019, at a CAGR of 7.8% from 2014 to 2019, with tanks being the most widely used cryogenic equipment for storage and transportation of cryogen liquids. Pipeline trade, specifically for the natural gas, has been a major area of implementation of the cryogenic equipment.

Asia-Pacific region holds a majority market share in 2014, followed by Europe and North America. In terms of individual countries, the U.S. and China show high growth potential. This growth can be attributed to the increased use and investment in natural gas in the U.S. and progressive economic growth of China. The region houses major LNG importers including Japan, China, and India along with other key producers of natural gas. Hence, the market is expected to dominate the global demand for the equipment during the forecast period.

In terms of growth strategies, market players have been establishing contracts and agreements to strengthen their market foothold. This was followed by expansions, new product launches, and mergers & acquisitions. A mix of organic and inorganic growth strategies has been observed in almost the equal proportions along with the key developments that impacted the industry in the past years. Market share analysis for the key players offers valuable intelligence to facilitate strategic business modelling.

Leading players in the industry, based on their recent developments and other strategic industrial activities, include Chart Industries Inc. (U.S.), VRV S.p.A. (Italy), Linde Group AG (Germany), Cryofab Inc. (U.S.), and INOX India Ltd. (India).

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