Cryogenic Equipment Market

Market Leaders : Cryogenic Equipment Market

The market is expected to grow from an estimated USD 12.6 billion in 2020 to USD 17.1 billion by 2025, at a CAGR of 6.4% during the forecast period. With the growing demand for primary energy and the rapid rate of maturing of oil & gas fields, are high growth prospects for the artificial lift market during the forecast period.

A few major players that have an extensive regional presence dominate the artificial lift market. The leading players in the artificial lift market include Linde plc (Ireland), Chart Industries (US), Air Products (US), INOXCVA (India), Taylor Wharton (Japan), and Cryofab (US).

The major strategies adopted by these players include new product launches, investments & expansions, mergers & acquisitions, joint ventures, partnerships & collaborations, and contracts & agreements. Contracts & Agreements, and Mergers & Acquisition were the most commonly adopted strategy from January 2017 to January 2020.  

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Linde plc is a global industrial gas and engineering company. The principal business activities of the company include the production of industrial gases along with designing, engineering, and manufacturing of the equipment used in the production of industrial gases. The industrial gases produced by Linde include atmospheric gases, such as oxygen, nitrogen, argon, and other rare gases, and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company operates its business through reportable segments which are North America, Europe, South America, Asia, Surface Technologies, and Linde AG. The product groups of Linde are atmospheric gases and related, process gases and other, surface technologies, and Linde AG. The company produces and distributes its industrial gases through cryogenic plants. There are three basic distribution methods for industrial gases: onsite, merchant, and packaged gases. The onsite and merchant businesses are associated with the distribution of liquefied industrial gases through cryogenic equipment. The Linde Engineering Division is involved in the designing and manufacturing of equipment for air separation and other industrial gas applications. The cryogenic equipment manufactured by the Linde Engineering include plant components such as cryogenic tanks, cryogenic portable tanks, vaporizers, pipes, and heat exchangers. The company has its cryogenic equipment manufacturing facilities in China and Germany. Linde plc operates in more than 100 countries. Its gas facilities in Europe, the Middle East, and Africa include around 230 plants, out of which 150 are cryogenic air separation plants. The company has 260 cryogenic air separation plants in North America and approximately 70 cryogenic air separation plants and carbon dioxide plants in Asia. In South America, it has more than 60 cryogenic air separation plants and carbon dioxide plants.

Chart Industries is a manufacturer of cryogenic equipment that are used across the liquid gas supply chain. The company operates its business through three business segments: Energy & Chemicals, Distribution & Storage East, and Distribution & Storage West. Energy & Chemicals business segment supplies engineered equipment and systems used in the separation, liquefaction, and purification of hydrocarbon and industrial gases. The products served under this segment include a wide range of heat exchangers, cold boxes, reactors, and process systems. Under its D&S East segment, the company designs, manufactures, and services cryogenic solutions for the storage and delivery of cryogenic liquids. Chart’s D&S West segment is involved in designing, manufacturing, and services related to the storage and delivery of cryogenic liquids used in industrial gas and LNG applications. The company offers its equipment and services to producers and distributors of hydrocarbons & industrial gases and their end-users. The company offers a wide range of cryogenic equipment such as heat exchangers, vacuum insulated containment vessels, liquefaction process units, other cryogenic components, gas processing equipment, cold boxes, and ambient temperature fans. In 2018, the company completed the acquisition of VRV S.r.l. a cryogenic manufacturer and its subsidiaries. The company has offices in more than 10 countries in Asia Pacific, Europe, and North America. Chart’s engineering and manufacturing facilities are located in China, the Czech Republic, Italy, Germany, and France.

Related Reports:

Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping, and Others), and Region - Global forecast to 2025

Contact:
Mr. Sanjay Gupta
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Report Code
EP 3337
RI Published ON
4/3/2020
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