Cryogenic Equipment Market by Product, Cryogen, System Type, End-User

List of Tables

The Cryogenic Equipment Market is projected to reach USD 18.65 billion by 2030 from USD 10.98 billion in 2022, at a CAGR of 6.83% during the forecast period.

Global Cryogenic Equipment Market

KEY MARKET STATISTICS
Base Year [2022]	USD 10.98 billion
Estimated Year [2023]	USD 11.76 billion
Forecast Year [2030]	USD 18.65 billion
CAGR (%)	6.83%

Market Segmentation & Coverage:

This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Cryogenic Equipment Market.

Based on Product, market is studied across Freezer, Pipe, Pumps, Tanks, Valves, and Vaporizers. The Tanks commanded largest market share of 20.55% in 2022, followed by Freezer.

Based on Cryogen, market is studied across Argon, Helium, Hydrogen, LNG, Nitrogen, and Oxygen. The LNG commanded largest market share of 20.33% in 2022, followed by Nitrogen.

Based on System Type, market is studied across Handling System, Storage System, and Supply System. The Storage System commanded largest market share of 48.23% in 2022, followed by Handling System.

Based on End-User, market is studied across Chemicals, Electronics, Energy & Power, Healthcare, Oil & Gas, and Transportation. The Oil & Gas commanded largest market share of 17.57% in 2022, followed by Transportation.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.43% in 2022, followed by Europe, Middle East & Africa.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is an indispensable tool for assessing the Cryogenic Equipment Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.

Market Share Analysis:

The Market Share Analysis offers invaluable insights into the vendor landscape Cryogenic Equipment Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.

Key Company Profiles:

The report delves into recent significant developments in the Cryogenic Equipment Market, highlighting leading vendors and their innovative profiles. These include Ability Engineering Technology, Inc., Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Atlas Copco AB, Azenta, Inc., Beijing Tianhai Cryogenic Equipment Co., Ltd, Bluefors Oy, Caterpillar Inc., Chart Industries, Inc., CIMC Enric Holdings Limited, CRYO PUR by La Francaise de l'Energie, Cryofab Inc., Cryospain, S.L., CryoVation LLC, CS&P Technologies, LP, Dover Corporation, Emerson Electric Co., Fives Group, Flowserve Corporation, Harris Products Group by Lincoln Electric Holdings, Inc., Herose GmbH, Honeywell International Inc., IceCure Medical Ltd., Indian Oil Corporation Limited, INOX India Limited, Linde PLC, MAN Energy Solutions SE, Nikkiso, Co. Ltd., Omni Tanker Pty Ltd., Pacira BioSciences, Inc., Parker-Hannifin Corporation, PHPK Technologies, Schlumberger N.V, Sulzer Ltd., Sumitomo Heavy Industries, Ltd., Taylor-Wharton, Thermo Fisher Scientific Inc., and Wessington Cryogenics Ltd..

The report offers valuable insights on the following aspects:

1. Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.

2. Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.

3. Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.

4. Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.

5. Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast for the Cryogenic Equipment Market?

2. Which products, segments, applications, and areas hold the highest investment potential in the Cryogenic Equipment Market?

3. What is the competitive strategic window for identifying opportunities in the Cryogenic Equipment Market?

4. What are the latest technology trends and regulatory frameworks in the Cryogenic Equipment Market?

5. What is the market share of the leading vendors in the Cryogenic Equipment Market?

6. Which modes and strategic moves are suitable for entering the Cryogenic Equipment Market?

Product Code: MRR-3D2FD205B4A7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Cryogenic Equipment Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for the production of industrial gasses
  - 5.1.1.2. Continuous growth in the aerospace and aviation industry
  - 5.1.1.3. Rising applications with the growing demand and consumption of energy
- 5.1.2. Restraints
  - 5.1.2.1. High cost of cryogenic equipment
- 5.1.3. Opportunities
  - 5.1.3.1. Continuous innovations in the development of cryogenic equipment
  - 5.1.3.2. Emerging potential for storage and transportation of medical gasses
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations associated with cryogenic equipment
5.2. Market Segmentation Analysis
- 5.2.1. Product: Ongoing research in cryogenic freezers includes the development of energy-efficient freezers and the incorporation of smart monitoring systems
- 5.2.2. Cryogen: Increasing utilization of nitrogen as it provides a stable and ultra-low temperature environment
- 5.2.3. System Type: Continuous improvements in storage systems to enhance operational safety
- 5.2.4. End-User: Expanding cryogenic applications across the healthcare industry for freezing vaccines and preserving biological samples
5.3. Market Trend Analysis
- 5.3.1. Innovation in the cryogenic equipment and expanding power & energy, and medical sector in the Americas
- 5.3.2. Increasing investment in cryogenic engine technology for the expanding space exploration and defense activities in the APAC region
- 5.3.3. Expanding infrastructure development of cryogenic hydrogen tank to meet sustainability goals and investments in the aerospace industry in the EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Cryogenic Equipment Market, by Product

6.1. Introduction
6.2. Freezer
6.3. Pipe
6.4. Pumps
6.5. Tanks
6.6. Valves
6.7. Vaporizers

7. Cryogenic Equipment Market, by Cryogen

7.1. Introduction
7.2. Argon
7.3. Helium
7.4. Hydrogen
7.5. LNG
7.6. Nitrogen
7.7. Oxygen

8. Cryogenic Equipment Market, by System Type

8.1. Introduction
8.2. Handling System
8.3. Storage System
8.4. Supply System

9. Cryogenic Equipment Market, by End-User

9.1. Introduction
9.2. Chemicals
9.3. Electronics
9.4. Energy & Power
9.5. Healthcare
9.6. Oil & Gas
9.7. Transportation

10. Americas Cryogenic Equipment Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Cryogenic Equipment Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Cryogenic Equipment Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. FPNV Positioning Matrix
13.2. Market Share Analysis, By Key Player
13.3. Competitive Scenario Analysis, By Key Player
- 13.3.1. Merger & Acquisition
  - 13.3.1.1. Bluefors to Acquire its Distributor Rockgate, Establishing Direct Presence in the Japanese Cryogenics Technology Market
  - 13.3.1.2. Air Water Inc. Acquires Specialized Distribution Equipment Producer M1 Engineering
  - 13.3.1.3. Nikkiso Clean Energy & Industrial Gases Group Completes the Acquisition of Cryotec Anlagenbau GmbH, Wurzen, Germany
- 13.3.2. Agreement, Collaboration, & Partnership
  - 13.3.2.1. Cryogenic Specialist Nikkiso Joins SEA-LNG Coalition
  - 13.3.2.2. Cryomotive and Fives Enter into a Partnership to Develop a Leading Cryogenic Pump for Truck Hydrogen Refueling Stations
- 13.3.3. New Product Launch & Enhancement
  - 13.3.3.1. Flowserve introduces Worcester Cryogenic Ball Valves to Help Control Fugitive Emissions
  - 13.3.3.2. Parker Releases a New Comprehensive Catalog for its Range of Bestobell Cryogenic Valves for Industrial Gas Applications
- 13.3.4. Investment & Funding
  - 13.3.4.1. INOXCVA Begins Construction of INR 200 Crore Cryogenic Equipment Manufacturing Facility
- 13.3.5. Award, Recognition, & Expansion
  - 13.3.5.1. Nikkiso Clean Energy & Industrial Gases Group Announces Expansion of Sales, Service and Engineering Facility in South Africa
  - 13.3.5.2. Nikkiso Clean Energy Opens New Facility in Qatar

14. Competitive Portfolio

14.1. Key Company Profiles
- 14.1.1. Ability Engineering Technology, Inc.
- 14.1.2. Air Liquide S.A.
- 14.1.3. Air Products and Chemicals, Inc.
- 14.1.4. Air Water Inc.
- 14.1.5. Atlas Copco AB
- 14.1.6. Azenta, Inc.
- 14.1.7. Beijing Tianhai Cryogenic Equipment Co., Ltd
- 14.1.8. Bluefors Oy
- 14.1.9. Caterpillar Inc.
- 14.1.10. Chart Industries, Inc.
- 14.1.11. CIMC Enric Holdings Limited
- 14.1.12. CRYO PUR by La Francaise de l'Energie
- 14.1.13. Cryofab Inc.
- 14.1.14. Cryospain, S.L.
- 14.1.15. CryoVation LLC
- 14.1.16. CS&P Technologies, LP
- 14.1.17. Dover Corporation
- 14.1.18. Emerson Electric Co.
- 14.1.19. Fives Group
- 14.1.20. Flowserve Corporation
- 14.1.21. Harris Products Group by Lincoln Electric Holdings, Inc.
- 14.1.22. Herose GmbH
- 14.1.23. Honeywell International Inc.
- 14.1.24. IceCure Medical Ltd.
- 14.1.25. Indian Oil Corporation Limited
- 14.1.26. INOX India Limited
- 14.1.27. Linde PLC
- 14.1.28. MAN Energy Solutions SE
- 14.1.29. Nikkiso, Co. Ltd.
- 14.1.30. Omni Tanker Pty Ltd.
- 14.1.31. Pacira BioSciences, Inc.
- 14.1.32. Parker-Hannifin Corporation
- 14.1.33. PHPK Technologies
- 14.1.34. Schlumberger N.V
- 14.1.35. Sulzer Ltd.
- 14.1.36. Sumitomo Heavy Industries, Ltd.
- 14.1.37. Taylor-Wharton
- 14.1.38. Thermo Fisher Scientific Inc.
- 14.1.39. Wessington Cryogenics Ltd.
14.2. Key Product Portfolio

15. Appendix

15.1. Discussion Guide
15.2. License & Pricing