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Energy Industry News Releases

Cryogenic Equipment Market Worth $17.4 Billion by 2027


(EnergyIndustry.Net, April 18, 2022 ) According to the new market 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.

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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.

Browse in-depth TOC on "Cryogenic Equipment Market"

231 – Tables

54 – Figures

247 – Pages

View Detailed Table of Content Here:

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.

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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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441


Mr. Aashish Mehra


Source: EmailWire.Com

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