Cryogenic Equipment Market Size, Trends, Demand and Business Opportunities 2024

According to the latest report by IMARC Group, The global cryogenic equipment market exhibited moderate growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).

Cryogenic equipment refers to devices that are used to generate, sustain and operate at extremely low temperatures.It comprises cryogenic storage racks, refrigerators, boxes, cold traps, pressure vessels, piping, purifiers, temperature controllers, tanks and accessories. It is used for freezing, cooling, and metal processing and biomedical purposes. Along with this, it also assists in protecting the users from accidental contact with hazardous materials.

The burgeoning aerospace and aviation industries represent one of the primary factors propelling the global cryogenic equipment market growth. Cryogenic fluids are widely used for cooling jet engines and in-flight components. Apart from this, the increasing utilization of cryogenic equipment in refrigerators, pumps, oil tankers, vaporizers and valves in the oil and gas sector is driving their sales further. Cryogenic equipment is designed for gases, such as oxygen, liquid helium, nitrogen, argon and carbon dioxide, widely used in Liquified Natural Gas (LNG)- based power plants. The equipment also finds extensive applications across various industries, including energy and power, marine and aerospace, food and beverage (F&B), healthcare and chemical, which is boosting the overall market growth.

Request Free Sample Report: https://www.imarcgroup.com/cryogenic-equipment-market/requestsample

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Cryogenic Equipment Market 2021-2026 Analysis and Segmentation:

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being

  • Air Liquide S.A.
  • Air Products and Chemicals Inc.
  • Chart Industries Inc.
  • Cryofab Inc., Cryoquip LLC (Nikkiso Co. Ltd.)
  • Emerson Electric Co.
  • Flowserve Corporation, Herose GmbH
  • INOX India Pvt. Ltd
  • Linde Plc
  • Parker-Hannifin Corporation and Wessington Cryogenics

The report has segmented the market on the basis of Product Type, Distribution Channel, Packaging Type and Region.

Breakup by Equipment:

  • Tanks
  • Pumps
  • Heat Exchanger
  • Valves
  • Others

Breakup by Cryogen:

  • Nitrogen
  • Liquified Natural Gas
  • Helium
  • Others

Breakup by Application:

  • Storage
  • Transportation
  • Processing
  • Others

Breakup by End Use Industry:

  • Oil and Gas
  • Energy and Power
  • Food and Beverages
  • Healthcare
  • Marine and Aerospace
  • Chemicals
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Ask Analyst for Customization and Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/cryogenic-equipment-market

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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