Cryogenic Equipment Market

Cryogenic Equipment Market worth $17.4 billion by 2027

According to a research report "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), Cryogen (Nitrogen, Argon, Oxygen, LNG, Hydrogen), End-User (Energy, Chemicals, Metallurgy, Transportation), System Type (Storage, Handling, Supply) & Region - Global forecast to 2027" published by MarketsandMarkets, the global cryogenic equipment market is projected to reach USD 17.4 billion by 2027 from an estimated market size of USD 12.5 billion in 2022, at a CAGR of 6.8% during the forecast period. The factors driving the growth for cryogenic equipment market are high demand for industrial gases from metallurgy, and energy & power industries and growing demand for cryogenic equipment across entire LNG value chain.

Browse 248 market data Tables and 54 Figures spread through 264 Pages and in-depth TOC on "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), Cryogen (Nitrogen, Argon, Oxygen, LNG, Hydrogen), End-User (Energy, Chemicals, Metallurgy, Transportation), System Type (Storage, Handling, Supply) & Region - Global forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/cryogenic-equipment-market-735.html

Tank: The largest segment of the cryogenic equipment market, by equipment

The cryogenic equipment market, by equipment, is segmented into tanks, valves, vaporizers, pumps and others. Other equipment include pipes, regulators, freezers, dewar, strainers, samplers, heat exchangers, leak detection equipment, dispensers, and accessories (manifolds, fittings, vacuum jacketed/insulated piping, hoses, connections. Increasing LNG production and high demand for industrial gases is expected to drive the equipment segment, which consequently increases the demand for cryogenic equipment.

The LNG segment is expected to be the most significant cryogenic equipment market, by cryogen

The cryogenic equipment market, by cryogen, is segmented into nitrogen, argon, oxygen, LNG, hydrogen, and others. Other cryogenic gases include helium, nitrous oxide, ethylene, and carbon dioxide. Rising demand for hydrogen fuel cells and cleaner energy is expected to drive the cryogen segment of the cryogenic equipment market during the forecast period.

Asia Pacific is expected to dominate the global cryogenic equipment market

The Asia Pacific region is estimated to be the largest market for the cryogenic equipment 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 North American cryogenic equipment market is expected to be driven by increasing E&P activities concerned with clean energy revolution.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the cryogenic equipment market. These players include Linde plc (Ireland), Air Liquide (France), Air Products Inc (US), Chart Industries (Georgia) and PARKER HANNIFIN CORP (US).

Don’t miss out on business opportunities in Cryogenic Equipment Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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Cryogenic Equipment Market Size,  Share & Growth Report
Report Code
EP 3337
PR Published ON
4/13/2022
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