Asia Pacific Cryogenic Equipment Market

The Asia Pacific cryogenic equipment market is projected to grow from USD 5.32 billion in 2025 to USD 8.72 billion by 2030, at a CAGR of 10.4% during the forecast period (2025–2030). Growing LNG and hydrogen infrastructure, with nations developing import terminals and clean-energy hubs, increased need for storage, and subsequent demand for pumps and vaporizers, drive the regional market. The boom of healthcare and biotech is putting strain on the cryogenic systems to conserve the medical gases and biological samples. Objectives of industrialization and energy transition drive the use of cryogenic technologies in the manufacturing, metallurgy, and power industries. Additionally, the government's clean-energy programs, smart/IoT solutions, and aerospace innovations also contribute to the market development and innovation.

Major players include Air Liquide (France), Linde plc (Ireland), Chart Industries (US), Cryofab Inc. (US), and Taylor-Wharton (US). Key players in the Asia Pacific cryogenic equipment market focus on product launches and partnerships, among other strategies, to reinforce their technology leadership and improve their business. For instance, in February 2023, Linde plc signed an agreement with BASF, one of the world's largest chemical companies, for the engineering, procurement, and construction of a synthesis gas plant in Zhanjiang, China.

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Air Liquide (France)

Air Liquide is a leader in the area of deep cryogenic technology development, high investment in R&D, and also advanced process control systems aimed at clean energy and industrial gas usage. The company focuses on strategic partnerships and a vast portfolio of patents that propel custom, high-performance solutions and commitment to sustainability and long-term technological leadership that builds upon customer trust and differentiation when working on complex projects.

Chart Industries (US)

Chart Industries focuses on specialized engineering excellence and built-in cryogenics in LNG, hydrogen, and industrial gases, backed by an end-to-end product scope and acquisitions that lead to technical advancement. The company emphasizes highly efficient and customer-specific solutions. Its collaborations with the partners in developing energy infrastructure allow it to respond innovatively and take advantage of the competitive edge in the dynamic Asia Pacific projects.

Market Ranking

The Asia Pacific cryogenic equipment market is highly competitive, with key players accounting for around 40–48%. Air Liquide, Linde plc, Chart Industries, Cryofab Inc., and Taylor-Wharton stay ahead by offering a range of cryogenic equipment for the transportation, chemical, and electronics industries. Air Liquide mainly focuses on enhancing its presence globally by entering into collaborations and expansions to strengthen their presence globally. For instance, Air Liquide expanded in the US and India by opening new manufacturing facilities in both countries. In the US, the company inaugurated a new biomethane production facility. In India, the company has invested in an air separation unit to support small and medium-sized customers of packaged gases and liquids.   The remaining 52–60% of the market is shared among other regional and emerging markets, contributing to extensive fragmentation and offering opportunities for smaller players to establish a footprint.

Related Reports:

Asia Pacific Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), Cryogen (Nitrogen, Argon, Oxygen, LNG, Hydrogen), End-use Industry (Energy & Power, Chemical, Metallurgy, Transportation), System Type, Application - Forecast to 2030

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