Cryogenic Pump Market worth $1.5 billion by 2027
The report "Cryogenic Pump Market by Orientation, Design (Submersible, Non-Submersible), Type, Cryogen (Nitrogen, Argon, Oxygen, LNG, Helium, Hydrogen), End User (Energy & Power, Chemicals, Metallurgy, Healthcare & Pharmaceuticals) & Region - Global forecast to 2027", is projected to reach USD 1.5 billion by 2027 from an estimated market size of USD 1.2 billion in 2022, at a CAGR of 4.6% during the forecast period. The rise in demand for cryogenic pumps from the energy & power industry, especially the oil & gas sector, is the primary driver of market growth. On the contrary, the volatility in raw material prices and interference from gray market players restrain the growth of the market.
Browse 221 market data Tables and 49 Figures spread through 224 Pages and in-depth TOC on "Cryogenic Pump Market by Orientation, Design (Submersible, Non-Submersible), Type, Cryogen (Nitrogen, Argon, Oxygen, LNG, Helium, Hydrogen), End User (Energy & Power, Chemicals, Metallurgy, Healthcare & Pharmaceuticals) & Region - Global forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/cryogenic-pump-market-53446001.html
Nitrogen: The largest segment of the Cryogenic pump market, by equipment
The cryogenic pump market, by cryogen, is segmented into nitrogen, argon, oxygen, LNG, helium, hydrogen, and other cryogens. Other cryogens include nitrous oxide, ethylene, and carbon dioxide. The nitrogen segment is expected to hold the largest size of the market for cryogenic pump market. The high market share of the nitrogen segment can be attributed to the high demand for liquified nitrogen from the energy & power and electronics industries.
The energy & power segment is expected to be the most significant cryogenic pump market, by end user
The cryogenic pump market, by cryogen, is segmented metallurgy, energy & power, chemicals, electronics, healthcare & pharmaceuticals and others. Others include food & beverage, shipping and infrastructure industries. The enhanced demand from the energy & power industry, especially from the oil & gas sector is expected to drive the growth of the segment.
Asia Pacific is expected to dominate the global cryogenic pump market
The Asia Pacific region is estimated to be the largest market for the cryogenic pump market, followed by North America. The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growth of the Asia Pacific cryogenic pump market is expected to be primarily driven by the development of energy & power and metallurgy industries in the emerging economies such as India and China.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Cryogenic pump market. These players include Atlas Copco AB (Sweden), EBARA CORPORATION (Japan), SHI Cryogenics Group (Japan), Nikkiso Co., Ltd. (Japan) and Fives Group (France)
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.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Cryogenic Pump Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
