Europe Cryogenic Equipment Market

The Europe cryogenic equipment market is projected to reach USD 5.95 billion by 2030 from an estimated USD 3.94 billion in 2025, at a CAGR of 8.6% during the forecast period (2025–2030). The expanding use of LNG as a cleaner energy source, the development of hydrogen infrastructure, and the increased usage of industrial gases in the food processing, metallurgy, and chemical industries boost the demand for cryogenic equipment. Investments in hydrogen generation, storage, and transportation—all of which significantly depend on cryogenic systems—are being driven by decarbonization goals. The market is also expanding due to the growing need for industrial gases in manufacturing, metal processing, and energy applications. The demand for cryogenic equipment is increasing throughout the region due to improvements in gas storage and distribution infrastructure, as well as technical developments that increase efficiency and safety.

Air Liquide (France), Wessington Cryogenics (UK), Sulzer Ltd. (Switzerland), Air Products and Chemicals, Inc. (US), and Parker Hannifin Corp. (US) are key players in the Europe cryogenic equipment market. These market players have implemented strategies, such as agreements and expansions, to increase their market presence.

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For instance, in August 2021, Air Products and Chemicals signed an agreement with SCD JV S.c.a.r.l for the LNG train project. The project will include an LNG train and a combined liquefaction unit. Air Products will provide cryogenic heat exchangers and process technology for this liquefaction unit.

Air Liquide (France)

Air Liquide is involved in gases, technology, healthcare, and industrial services. Global Markets & Technologies, Engineering & Construction, and Gases & Services are the three business segments through which the company operates. The Gases & Services section consists of four business lines. Healthcare, electronics, major industries, and industrial merchants are these business sectors. The company focuses on high-technology cryogenic engineering, technologies in industrial gas and hydrogen energy delivery, and its R&D and innovations are well developed in the field of low-temperature systems.

Wessington Cryogenics (UK)

Wessington Cryogenics manufactures cryogenic vessels and offers a range of cryogenic tanks and vessels for storage and transport applications. The company also supplies spare parts and accessories, ranging from replacement valves to fully automated liquid-level control equipment. It operates repair and refurbishment facilities where it repairs cryogenic vessels capable of storing and transporting gases such as nitrogen, argon, oxygen, and helium. It also offers custom-designed cryostats, cryogenic valve boxes, and phase separators. It has a reputation for quality cryogenic vessels and tailored engineered projects, with decades of experience in tailored design, ISO containers, bulk tanks, and transportation systems.

Market Ranking

The European cryogenic equipment market is highly competitive, with key players accounting for 40–48% of sales. Air Liquide, Wessington Cryogenics, and Sulzer Ltd. stay ahead by offering a range of cryogenic equipment for the transportation, chemicals, and electronics industries. Air Liquide mainly focuses on enhancing its presence globally by entering into collaborations and expansions to strengthen its 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, and 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:

Europe 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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