HOME Top Market Reports Cryogenic Equipment Market by Application (Energy & Power, Chemicals. Metallurgy, Electronics and Shipbuilding), 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), 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 Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
    1.4 Years Considered in the Report
    1.5 Currency & Pricing
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 17)
    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 Market Size Estimation
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 31)
    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
    4.8 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
           5.1.1 Selection of Equipment
    5.2 Market Segmentation
           5.2.1 By Application
                    5.2.1.1 Some Major Applications of Cryogenic Technology
           5.2.2 By Type
           5.2.3 By Cryogen Gases
           5.2.4 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Demand for Lng
                    5.3.1.2 Improving Healthcare Services in the Developing Economies
                    5.3.1.3 Industrialization & Urbanization Are the Driving Forces of the Market
           5.3.2 Restraint
                    5.3.2.1 Stringent Regulations for the Cryogenic Equipment/Technology
           5.3.3 Opportunities
                    5.3.3.1 Natural Gas Pipelines
                    5.3.3.2 Space Applications for Cryogenic Technologies
                    5.3.3.3 Cryogenic Energy Storage Systems
           5.3.4 Challenge
                    5.3.4.1 Cryogen Leakage

6 Industry Trends (Page No. - 48)
    6.1 Value Chain Analysis
    6.2 Common 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
           6.3.4 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. - 52)
    7.1 Introduction
    7.2 Tanks
    7.3 Valves
    7.4 Vaporizers
    7.5 Pumps
    7.6 Other Equipment
           7.6.1 Tunnel Freezers
           7.6.2 Dewar
           7.6.3 Strainers
           7.6.4 Samplers

8 Cryogenic Equipment Market, By Application (Page No. - 61)
    8.1 Introduction
    8.2 Energy & Power
    8.3 Chemical
    8.4 Metallurgy
    8.5 Electronics
    8.6 Shipping
    8.7 Other Industries

9 Cryogenic Equipment Market, By Cryogen Type (Page No. - 69)
    9.1 Introduction
    9.2 Nitrogen
    9.3 Oxygen
    9.4 Argon
    9.5 Lng (Liquefied Natural Gas)
    9.6 Other Cryogen Gases

10 Cryogenic Equipment Market, By Region (Page No. - 76)
     10.1 Introduction
     10.2 Asia-Pacific
             10.2.1 China
             10.2.2 India
             10.2.3 Australia
             10.2.4 Japan
             10.2.5 Malaysia
     10.3 Europe
             10.3.1 U.K.
             10.3.2 France
             10.3.3 Germany
     10.4 North America
             10.4.1 U.S.
             10.4.2 Canada
     10.5 Middle East
             10.5.1 Saudi Arabia
     10.6 South America
             10.6.1 Brazil
             10.6.2 Argentina
     10.7 Africa
             10.7.1 South Africa

11 Competitive Landscape (Page No. - 108)
     11.1 Overview
     11.2 Contracts and Agreements 2011-2015
     11.3 Expansion 2011-2014
     11.4 New Product Launch 2011-2014
     11.5 Mergers and Acquisitions 2011-2014
     11.6 Other Developments 2011-2015

12 Company Profiles (Page No. - 116)
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     12.1 Introduction
     12.2 Air Liquide
     12.3 Beijing Tianhai Industry Co., Ltd.
     12.4 Chart Industries Inc.
     12.5 Cryofab Inc.
     12.6 Cryoquip Llc.
     12.7 Herose Gmbh
     12.8 Inox India Ltd.
     12.9 Linde Group AG
     12.10 Taylor-Wharton International Llc.
     12.11 VRV S.P.A.
     12.12 Wessington Cryogenics Ltd.
*Details on Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 148)
     13.1 Insights of the Industry Experts
     13.2 Other Developments, 2010-2015
     13.3 Discussion Guide
     13.4 Introducing RT: Real Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports


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 Region, 2012 – 2019 ($Million)
Table 12 Cryogenic Pumps Market Size, By Application, 2012 – 2019 ($Million)
Table 13 Cryogenic Pumps Market Size, By Region, 2012 – 2019 ($Million)
Table 14 Cryogenic Equipment Market Size, By Application, 2012-2019 ($Million)
Table 15 Energy & Power Industry Market Size, By Equipment Type, 2012-2019 ($Million)
Table 16 Chemicals Industry Market Size, By Equipment Type, 2014-2019 ($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: Market Size, By Application, 2012-2019 ($Million)
Table 30 China: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 31 China: Market Size, By Application, 2012–2019 ($Million)
Table 32 India: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 33 India: Market Size, By Application, 2012–2019 ($Million)
Table 34 Australia: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 35 Australia: Market Size, By Application, 2012–2019 ($Million)
Table 36 Japan: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 37 Japan: Market Size, By Application, 2012–2019 ($Million)
Table 38 Malaysia: Cryogenic Equipment Market Size, By Equipment Type, 2012 – 2019 ($Million)
Table 39 Malaysia: Market Size, By Application, 2012–2019 ($Million)
Table 40 Europe: Cryogenic Equipment Market Size, By Country, 2012-2019 ($Million)
Table 41 Europe: 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.: Market Size, By Application, 2012–2019 ($Million)
Table 44 France: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 45 France: Market Size, By Application, 2012–2019 ($Million)
Table 46 Germany: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 47 Germany: Market Size, By Application, 2012–2019 ($Million)
Table 48 North America: Cryogenic Equipment Market Size, By Country, 2012-2019($Million)
Table 49 North America: 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.: Market Size, By Application, 2012–2019 ($Million)
Table 52 Canada: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 53 Canada: Market Size, By Application, 2012-2019 ($Million)
Table 54 Middle East: Cryogenic Equipment Market Size, By Country, 2012-2019 ($Million)
Table 55 Middle East: Market Size, By Application, 2012-2019
Table 56 Saudi Arabia: Cryogenic Equipment Market Size, By Equipment Type, 2012–2019 ($Million)
Table 57 Saudi Arabia: Market Size, By Application, 2012–2019 ($Million)
Table 58 South America: Cryogenic Equipment Market Size, By Country, 2012-2019 ($Million)
Table 59 South America: Market Size, By Application, 2012-2019 ($Million)
Table 60 Brazil: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 61 Brazil: Market Size, By Application, 2012–2019 ($Million)
Table 62 Argentina: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 63 Argentina: Market Size, By Application, 2012–2019 ($Million)
Table 64 Africa: Cryogenic Equipment Market Size, By Country, 2012-2019 ($Million)
Table 65 Africa: Market Size, By Application, 2012-2019 ($Million)
Table 66 South Africa: Cryogenic Equipment Market Size, By Type, 2012–2019 ($Million)
Table 67 South Africa: Market Size, By Application, 2012–2019 ($Million)
Table 68 Contracts and Agreements
Table 69 Expansion
Table 70 New Product Launch
Table 71 Mergers and Acquisitions
Table 72 Other Developments (Certification, Partnership, & Product Development)


List of Figures (44 Figures)

Figure 1 Markets Covered: Cryogenic Equipment Market
Figure 2 Cryogenic Equipment Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Cryogenic Equipment Evolution: Timeline
Figure 7 Cryogenic Equipment Market Snapshot (2014 vs 2019): Tanks to Lead the Market in the Next Five Years
Figure 8 Energy & Power Applications to Have Largest Share Among Other Applications of Cryogenic Equipment During the Forecast Period
Figure 9 Cryogenic Equipment Market Size, By Cryogen Gases, 2019
Figure 10 Asia-Pacific Accounted for the Largest Market Share in Cryogenic Equipment Market in 2014
Figure 11 Lng Demand in Developing as Well as Developed Countries Offer Lucrative Opportunities From 2014 to 2019
Figure 12 Vaporizers Are Expected to Grow at a Faster Rate in the Global Market During the Forecast Period
Figure 13 Energy and Power Applications Held the Largest Market Share in 2014
Figure 14 The Middle East and Africa Are Expected to Grow at a High CAGR From 2014 to 2019
Figure 15 Developing Economies to Grow Faster Than the Developed Ones During the Forecast Period
Figure 16 More Than 30% of the Total Market Growth Will Come From the Energy & Power Application During the Forecast Period
Figure 17 Tanks Have a Promising Future in Emerging Economies of the Asia-Pacific Region From 2014 to 2019
Figure 18 The Middle East Market is Expected to Enter the Growth Phase During the Forecast Period
Figure 19 Cryogenic Equipment Market Segmentation: By Application
Figure 20 Cryogenic Equipment Market Segmentation: By Type
Figure 21 Cryogenic Equipment Market Segmentation: By Cryogen Gases
Figure 22 Industrialization & Modernization of Existing Infrastructures to Propel Market Growth
Figure 23 Rising Demand for Lng in the Past 20 Years
Figure 24 Value Chain Analysis: Major Value is Added During the R&D and Manufacturing Phase
Figure 25 Porter’s Five Forces Analysis: Intensity of Rivalry is High in the Cryogenic Equipment Market
Figure 26 Tanks to Have the Largest Market By 2019
Figure 27 Ship Building is Expected to Have the Highest Growth During the Forecast Period
Figure 28 Cryogenic Equipment for Lng Are Expected to Show the Highest Growth During the Forecast Period
Figure 29 Region-Wise Snapshot: India, Australia, Africa and Japanare Emerging as New Hotspots
Figure 30 Australia to Offer New Avenues for the Growth of Cryogenic Equipment Market
Figure 31 Asia-Pacific to Lead the Cryogenic Equipment Market During the Forecast Period
Figure 32 Europe Implementing New Technologies, Thereby Boosting the Demand for Cryogenic Equipment
Figure 33 Companies Adopted Various Growth Strategies During 2011-2014
Figure 34 Market Share Analysis, 2013
Figure 35 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By the Key Players
Figure 36 Market Leaders Based on the Developments 2011-2014
Figure 37 Market Evolution Framework- Contracts & Agreements Has Led to Market Growth and Expansions Has Fueled Growth and Innovation in 2011 -2014
Figure 38 Geographic Mix of the Top Players
Figure 39 Air Liquide: Company Snapshot
Figure 40 Chart Industries Inc.: Company Snapshot
Figure 41 Inox India Ltd.: Company Snapshot
Figure 42 Linde Group AG: Company Snapshot
Figure 43 VRV S.P.A.: Company Snapshot
Figure 44 Wessington Cryogenics Ltd.: Company Snapshot

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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