Cryogenic Equipment Market Report: Trends, Forecast and Competitive Analysis to 2030

Cryogenic Equipment Trends and Forecast

The future of the global cryogenic equipment market looks promising with opportunities in the nitrogen, argon, oxygen, LNG, hydrogen markets. The global cryogenic equipment market is expected to reach an estimated $19 billion by 2030 with a CAGR of 5.9% from 2024 to 2030. The major drivers for this market are growing demand for technical gases in various industries, rising investments in LNG power plants, and increasing focus of the government on improvising industrial policies and regulations.

A more than 150-page report is developed to help in your business decisions.

Cryogenic Equipment by Segment

The study includes a forecast for the global cryogenic equipment by equipment, system type, cryogen, end use, and region.

Cryogenic Equipment Market by Equipment [Shipment Analysis by Value from 2018 to 2030]:

• Tanks
• Valves
• Vaporizers
• Pumps

Cryogenic Equipment Market by System Type [Shipment Analysis by Value from 2018 to 2030]:

• Storage
• Handling
• Supply

Cryogenic Equipment Market by Cryogen [Shipment Analysis by Value from 2018 to 2030]:

• Nitrogen
• Argon
• Oxygen
• LNG
• Hydrogen

Cryogenic Equipment Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Energy
• Chemicals
• Metallurgy
• Transportation

Cryogenic Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cryogenic Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cryogenic equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cryogenic equipment companies profiled in this report include-

• Air Liquide
• Linde
• Praxair
• Messer
• Chart Industries
• Cryogenic Industries
• IHI Corporation
• Chart Ferox
• Chart Energy & Chemicals
• Howden

Cryogenic Equipment Market Insights

Lucintel forecasts that tanks will remain the largest segment over the forecast period due to growing need for maintaining gases for multiple essential industrial processes against traditional cooling lubricants.

Within this market, LNG will remain the largest segment due to its growing usage in various applications, such as transportation, fueling, storage, and processing.

APAC will remain the largest region over the forecast period due to growing demand for LNG and stringent environmental regulations in the region.

Features of the Global Cryogenic Equipment Market

Market Size Estimates: Cryogenic equipment market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Cryogenic equipment market size by various segments, such as by equipment, system type, cryogen, end use, and region in terms of value ($B).

Regional Analysis: Cryogenic equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different equipments, system types, cryogen, end uses, and regions for the cryogenic equipment market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cryogenic equipment market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the cryogenic equipment market size?

Answer: The global cryogenic equipment market is expected to reach an estimated $19 billion by 2030.

Q2. What is the growth forecast for cryogenic equipment market?

Answer: The global cryogenic equipment market is expected to grow with a CAGR of 5.9% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the cryogenic equipment market?

Answer: The major drivers for this market are growing demand for technical gases in various industries, rising investments in LNG power plants, and increasing focus of the government on improvising industrial policies and regulations.

Q4. What are the major segments for cryogenic equipment market?

Answer: The future of the cryogenic equipment market looks promising with opportunities in the nitrogen, argon, oxygen, LNG, hydrogen markets.

Q5. Who are the key cryogenic equipment market companies?

Answer: Some of the key cryogenic equipment companies are as follows:

• Air Liquide
• Linde
• Praxair
• Messer
• Chart Industries
• Cryogenic Industries
• IHI Corporation
• Chart Ferox
• Chart Energy & Chemicals
• Howden

Q6. Which cryogenic equipment market segment will be the largest in future?

Answer: Lucintel forecasts that tanks will remain the largest segment over the forecast period due to growing need for maintaining gases for multiple essential industrial processes against traditional cooling lubricants.

Q7. In cryogenic equipment market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to growing demand for LNG and stringent environmental regulations in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the cryogenic equipment market by equipment (tanks, valves, vaporizers, and pumps), system type (storage, handling, and supply), cryogen (nitrogen, argon, oxygen, LNG, and hydrogen), end use (energy, chemicals, metallurgy, and transportation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?