North America Cryogenic Equipment Market

The North America cryogenic equipment market is projected to reach USD 5.95 billion by 2030 from an estimated USD 3.78 billion in 2025, at a CAGR of 9.5% during the forecast period (2025–2030). The demand for equipment is increasing due to the heightened utilization of liquefied gases, including LNG, liquid nitrogen, oxygen, and hydrogen, in sectors such as energy, healthcare, chemicals, and electronics. The development of LNG infrastructure for energy production advancements in medical imaging and cryosurgery, along with the rising consumption of industrial gases, contribute to the regional market growth. Additionally, the global push toward hydrogen energy, semiconductor manufacturing growth, and space research activities boost the requirement for ultra-low-temperature storage, transport, and processing systems, supporting sustained market demand.

Linde plc (Ireland), Chart Industries (US), Cryofab Inc. (US), Air Products and Chemicals, Inc. (US), and Taylor-Wharton (US) are key companies operating in the North America cryogenic equipment market. These companies focus on organic and inorganic strategies, such as product launches and strategic partnerships, to reinforce their technology leadership and sustainability agenda and increase their market presence.

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For instance, in April 2023, Linde plc signed an agreement with Evonik to supply green hydrogen in Singapore. This agreement allows Linde plc to build, own, and operate a 9 MW alkaline electrolyzer plant on Jurong Island, Singapore. ?

Chart Industries (US)

Chart Industries manufactures cryogenic equipment used across the liquid gas supply chain. The company operates its business through four business segments: Cryo Tank Solutions, Heat Transfer System, Specialty Products, and Repair, Services & Leasing. Under the Cryo Tank Solutions business segment, the company supplies bulk, microbulk, and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases and certain hydrocarbons. In October 2020, the company divested its D&S segment, through which it used to sell cryobiological products. It offers a range of cryogenic equipment, including heat exchangers, vacuum-insulated containment vessels, liquefaction process units, other cryogenic components, gas processing equipment, cold boxes, and ambient temperature fans.

Linde plc (Ireland)

Linde plc is an enterprise specializing in industrial gases and engineering. The company is involved in manufacturing gases as well as designing, engineering, and fabricating machinery utilized in the production of these gases. Its industrial gases include oxygen, nitrogen, and argon as well as rare gases (krypton, neon, and xenon), in addition to process gases, including carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company conducts its operations across seven reportable divisions: Healthcare, Manufacturing, Chemicals & Energy Metals & Mining, Electronics, Food & Beverage, and Others. It produces and distributes industrial gases through cryogenic plants. Industrial gases can be packed or delivered onsite or through merchant sales. The onsite and merchant sale methods involve the distribution of liquefied industrial gases using cryogenic equipment.

Market Ranking

The North America cryogenic equipment market is highly competitive, with key players contributing around 40–48% of sales, while many smaller local players share the rest. Linde plc (Ireland), Chart Industries (US), Cryofab Inc. (US), Air Products and Chemicals, Inc (US), and Taylor-Wharton (US) stay ahead by offering a range of cryogenic equipment for metallurgy, energy & power, chemical, and electronics industry. Linde plc mainly focuses on enhancing its presence globally by entering into agreements and collaborations. For instance, the company signed an agreement with BASF SE for engineering, procurement, and construction of a synthesis gas plant in Zhanjiang, China. The remaining 52–60% of the market is shared among other regional and emerging markets, offering opportunities for smaller players to establish a footprint.

Related Reports:

North America 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 - Forecast to 2030

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