Cryogenic Equipment Market to Witness Impressive Growth, Revenue to Surge $19.81 Billion By 2032

According to a report from Zion Market Research, the global Cryogenic Equipment Market was valued at USD 11.24 Billion in 2023 and is projected to hit USD 19.81 Billion by 2032, with a compound annual growth rate (CAGR) of 6.5% during the forecast period 2024-2032.

The study includes drivers and restraints for the cryogenic equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cryogenic equipment market on a global level.

In order to give the users of this report a comprehensive view of the cryogenic equipment market, we have included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the cryogenic equipment market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the cryogenic equipment market by segmenting the market based on equipment, application and end users. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2028. Key application segments covered under this study include storage and distribution. On the basis of equipment type, the market has been segmented into by tanks, valves, vacuum jacketed pipes, and pump & vaporizer. On the basis of end users, the market has been segmented into chemical, energy & power, food & beverage, oil & gas, and electronics.

The regional segmentation includes the current and forecasted demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Each region has been further segmented into 18 countries such as the U.S., Canada, Mexico, the U.K., France, Germany, Russia, Poland, Ukraine, China, India, Japan, South Korea, ASEAN, Brazil, Argentina, GCC, South Africa, and others. This segmentation includes demand for cryogenic equipment based on individual equipment, end user, and applications in all the regions and countries.

In Asia Pacific, increasing investments in the energy sector and significant growth in other end-user industries are the factors attributed for the growth of the cryogenic equipment market in this region. The major factor for the growth of cryogenic equipment market is the presence of leading steel production in countries such as China, Japan, India and South Korea. Europe countries have strict regulation governing the use of inland LNG-fueled ships. Also certain countries such as Russia also plan to develop LNG powered locomotives.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Some of the major players involved in the global cryogenic equipment market include Praxair Inc., FIBA Technologies Inc., INOX India Pvt. Ltd., Linde Group AG, Flowserve Corporation, Air Liquide SA, Oxford Instruments Plc., Herose GmbH, Cryoquip Llc., Wessington Cryogenics, VRV S.p.A., and Chart Industries, Inc.

Browse the full “Cryogenic Equipment Market By Equipment Type (Tanks, Valves, Vacuum Jacketed Pipes, and Pump and Vaporizer), By Application (Storage and Distribution), By End-User (Chemical, Energy & Power, Food & Beverage, Oil & Gas, and Electronics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2023 – 2032.” Report at https://www.zionmarketresearch.com/report/cryogenic-equipment-market

The global Cryogenic Equipment market is segmented as follows:  

By Equipment Type

• Tanks
• Valves
• Vacuum Jacketed Pipes
• Pump & Vaporizer

By Application

• Storage
• Distribution

By End-User

• Chemical
• Energy & Power
•  Food & Beverage
• Oil & Gas
• Electronics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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