Cryogenic Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for cryogenic equipment. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global cryogenic equipment market from 2025 to 2032.

Key Insights:

Cryogenic Equipment Market Size (2025E):US$ 25.15 Bn
Projected Market Value (2032F):US$ 40.09 Bn
Global Market Growth Rate (CAGR 2025 to 2032):6.7%

Cryogenic Equipment Market - Report Scope:

Cryogenic equipment is essential for the storage, transportation, and handling of liquefied gases at extremely low temperatures. These include liquid nitrogen, oxygen, argon, helium, and liquefied natural gas (LNG), which are widely used across industries such as healthcare, energy, electronics, and manufacturing. The cryogenic equipment market consists of various products, including storage tanks, valves, pumps, and vaporizers, designed to maintain ultra-low temperatures for different industrial applications. The growing demand for LNG as a cleaner fuel alternative, increasing applications in the medical and biotechnology sectors, and advancements in superconducting technologies are major drivers of market expansion.

Market Growth Drivers:

The global cryogenic equipment market is driven by rising energy demands and the increasing adoption of LNG as a sustainable fuel source in transportation and power generation. The growing use of cryogenic technology in the healthcare sector, particularly for medical gases in surgeries, biological research, and vaccine storage, further boosts market growth. Rapid industrialization and advancements in metallurgical and electronics manufacturing require precise temperature control, expanding the need for cryogenic systems. Additionally, the development of space exploration programs and superconducting applications contributes to increased demand for cryogenic solutions.

Market Restraints:

Despite the promising outlook, the cryogenic equipment market faces challenges related to high initial investment costs and maintenance requirements. The complexity of cryogenic systems and the need for specialized materials to handle extreme cold temperatures add to operational costs. Additionally, stringent safety regulations governing the handling and storage of liquefied gases impose compliance burdens on manufacturers and end-users. Limited infrastructure for LNG adoption in certain regions also restricts market growth, requiring significant investment in storage and distribution networks.

Market Opportunities:

The cryogenic equipment market presents significant growth opportunities with the expansion of hydrogen-based energy solutions and increasing investments in space exploration and quantum computing. Technological advancements, such as automation and remote monitoring of cryogenic systems, enhance operational efficiency and safety. The rising demand for cryogenic applications in the food and beverage industry for freezing and preservation, as well as in the electronics sector for semiconductor manufacturing, offers new revenue streams. Collaborations between industry players and research institutions for developing cost-effective and sustainable cryogenic solutions will further drive market innovation.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the cryogenic equipment market globally?
Which product types and applications are driving cryogenic technology adoption across different industries?
How are technological advancements reshaping the competitive landscape of the cryogenic equipment market?
Who are the key players contributing to the cryogenic equipment market, and what strategies are they employing to maintain market relevance?
What are the emerging trends and future prospects in the global cryogenic equipment market?

Competitive Intelligence and Business Strategy:

Leading players in the global cryogenic equipment market, including Linde plc, Air Liquide, Chart Industries, and Cryoquip LLC, focus on innovation, product diversification, and strategic partnerships to strengthen their market position. These companies invest in research and development to develop advanced cryogenic storage and transportation solutions, ensuring energy efficiency and sustainability. Collaborations with LNG infrastructure developers, healthcare providers, and aerospace companies facilitate market expansion. Additionally, advancements in cryogenic safety standards, improved insulation technologies, and enhanced service offerings are crucial for maintaining a competitive edge.

Key Companies Profiled:

Linde plc
Air Liquide
Chart Industries, Inc.
Cryoquip LLC
Taylor-Wharton International LLC
Praxair, Inc.
Herose GmbH
Cryofab, Inc.
VRV Group
Wessington Cryogenics

Cryogenic Equipment Market Segmentation

By Product Type

Tanks
Valves
Pumps
Vaporizers
Vacuum Jacketed Piping

By Cryogen

Nitrogen
Oxygen
Argon
Liquefied Natural Gas
Hydrogen

By Application

Distribution
Storage

By End User

Oil & Gas
Metallurgy
Automotive
Food & Beverage
Chemical

By Region

North America
Europe
East Asia
South Asia and Oceania
Middle East and Africa
Latin America

Product Code: PMRREP33211

1. Executive Summary

1.1. Global Cryogenic Equipment Market Snapshot, 2025 and 2032
1.2. Market Opportunity Assessment, 2025-2032, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. End User Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global GDP Growth
- 2.3.2. Industrialization & Infrastructure Development Outlook
- 2.3.3. Energy Demand & Prices Outlook
- 2.3.4. Global R&D Expenditure
- 2.3.5. Defense & Aerospace Spending
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Regulatory Landscape
3.2. Value Chain Analysis
3.3. PESTLE Analysis
3.4. Porter's Five Force Analysis

4. Price Trend Analysis

4.1. Key Highlights
4.2. Key Factors Impacting Cryogenic Equipment Prices
4.3. Pricing Analysis, by Product Type

5. Global Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

5.1. Global Cryogenic Equipment Market Outlook: Product Type
- 5.1.1. Introduction / Key Findings
- 5.1.2. Historical Market Size (US$ Bn) and Analysis, By Product Type, 2019-2024
- 5.1.3. Current Market Size (US$ Bn) and Analysis and Forecast, By Product Type, 2025-2032
  - 5.1.3.1. Tanks
  - 5.1.3.2. Valves
  - 5.1.3.3. Pumps
  - 5.1.3.4. Vaporizers
  - 5.1.3.5. Vacuum Jacketed Piping
  - 5.1.3.6. Others
5.2. Market Attractiveness Analysis: Product Type
5.3. Global Cryogenic Equipment Market Outlook: Cryogen
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By Cryogen, 2019-2024
- 5.3.3. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
  - 5.3.3.1. Nitrogen
  - 5.3.3.2. Oxygen
  - 5.3.3.3. Argon
  - 5.3.3.4. Liquefied Natural Gas
  - 5.3.3.5. Hydrogen
  - 5.3.3.6. Others
5.4. Market Attractiveness Analysis: Cryogen
5.5. Global Cryogenic Equipment Market Outlook: Application
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Bn) Analysis, By Application, 2019-2024
- 5.5.3. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
  - 5.5.3.1. Distribution
  - 5.5.3.2. Storage

6. Market Attractiveness Analysis: Application

7.1. Global Cryogenic Equipment Market Outlook: End User
- 7.1.1. Introduction / Key Findings
- 7.1.2. Historical Market Size (US$ Bn) Analysis, By End User, 2019-2024
- 7.1.3. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
  - 7.1.3.1. Oil & Gas
  - 7.1.3.2. Metallurgy
  - 7.1.3.3. Automotive
  - 7.1.3.4. Food & Beverage
  - 7.1.3.5. Chemical
  - 7.1.3.6. Other
7.2. Market Attractiveness Analysis: End User

8. Global Cryogenic Equipment Market Outlook: Region

8.1. Key Highlights
8.2. Historical Market Size (US$ Bn) and Analysis, By Region, 2019-2024
8.3. Current Market Size (US$ Bn) Analysis and Forecast, By Region, 2025-2032
- 8.3.1. North America
- 8.3.2. Europe
- 8.3.3. East Asia
- 8.3.4. South Asia and Oceania
- 8.3.5. Latin America
- 8.3.6. Middle East & Africa
8.4. Market Attractiveness Analysis: Region

9. North America Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

9.1. Key Highlights
9.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 9.2.1. By Country
- 9.2.2. By Product Type
- 9.2.3. By Cryogen
- 9.2.4. By Application
- 9.2.5. By End User
9.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 9.3.1. U.S.
- 9.3.2. Canada
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 9.4.1. Tanks
- 9.4.2. Valves
- 9.4.3. Pumps
- 9.4.4. Vaporizers
- 9.4.5. Vacuum Jacketed Piping
- 9.4.6. Others
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 9.5.1. Nitrogen
- 9.5.2. Oxygen
- 9.5.3. Argon
- 9.5.4. Liquefied Natural Gas
- 9.5.5. Hydrogen
- 9.5.6. Others
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 9.6.1. Distribution
- 9.6.2. Storage
9.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 9.7.1. Oil & Gas
- 9.7.2. Metallurgy
- 9.7.3. Automotive
- 9.7.4. Food & Beverage
- 9.7.5. Chemical
- 9.7.6. Other
9.8. Market Attractiveness Analysis

10. Europe Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 10.2.1. By Country
- 10.2.2. By Product Type
- 10.2.3. By Cryogen
- 10.2.4. By Application
- 10.2.5. By End User
10.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 10.3.1. Germany
- 10.3.2. France
- 10.3.3. U.K.
- 10.3.4. Italy
- 10.3.5. Spain
- 10.3.6. Russia
- 10.3.7. Turkey
- 10.3.8. Rest of Europe
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 10.4.1. Tanks
- 10.4.2. Valves
- 10.4.3. Pumps
- 10.4.4. Vaporizers
- 10.4.5. Vacuum Jacketed Piping
- 10.4.6. Others
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 10.5.1. Nitrogen
- 10.5.2. Oxygen
- 10.5.3. Argon
- 10.5.4. Liquefied Natural Gas
- 10.5.5. Hydrogen
- 10.5.6. Others
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 10.6.1. Distribution
- 10.6.2. Storage
10.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 10.7.1. Oil & Gas
- 10.7.2. Metallurgy
- 10.7.3. Automotive
- 10.7.4. Food & Beverage
- 10.7.5. Chemical
- 10.7.6. Other
10.8. Market Attractiveness Analysis

11. East Asia Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

11.1. Key Highlights
11.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 11.2.1. By Country
- 11.2.2. By Product Type
- 11.2.3. By Cryogen
- 11.2.4. By Application
- 11.2.5. By End User
11.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 11.3.1. China
- 11.3.2. Japan
- 11.3.3. South Korea
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 11.4.1. Tanks
- 11.4.2. Valves
- 11.4.3. Pumps
- 11.4.4. Vaporizers
- 11.4.5. Vacuum Jacketed Piping
- 11.4.6. Others
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 11.5.1. Nitrogen
- 11.5.2. Oxygen
- 11.5.3. Argon
- 11.5.4. Liquefied Natural Gas
- 11.5.5. Hydrogen
- 11.5.6. Others
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 11.6.1. Distribution
- 11.6.2. Storage
11.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 11.7.1. Oil & Gas
- 11.7.2. Metallurgy
- 11.7.3. Automotive
- 11.7.4. Food & Beverage
- 11.7.5. Chemical
- 11.7.6. Other
11.8. Market Attractiveness Analysis

12. South Asia & Oceania Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

12.1. Key Highlights
12.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 12.2.1. By Country
- 12.2.2. By Product Type
- 12.2.3. By Cryogen
- 12.2.4. By Application
- 12.2.5. By End User
12.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 12.3.1. India
- 12.3.2. Southeast Asia
- 12.3.3. ANZ
- 12.3.4. Rest of South Asia & Oceania
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 12.4.1. Tanks
- 12.4.2. Valves
- 12.4.3. Pumps
- 12.4.4. Vaporizers
- 12.4.5. Vacuum Jacketed Piping
- 12.4.6. Others
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 12.5.1. Nitrogen
- 12.5.2. Oxygen
- 12.5.3. Argon
- 12.5.4. Liquefied Natural Gas
- 12.5.5. Hydrogen
- 12.5.6. Others
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 12.6.1. Distribution
- 12.6.2. Storage
12.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 12.7.1. Oil & Gas
- 12.7.2. Metallurgy
- 12.7.3. Automotive
- 12.7.4. Food & Beverage
- 12.7.5. Chemical
- 12.7.6. Other
12.8. Market Attractiveness Analysis

13. Latin America Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

13.1. Key Highlights
13.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 13.2.1. By Country
- 13.2.2. By Product Type
- 13.2.3. By Cryogen
- 13.2.4. By Application
- 13.2.5. By End User
13.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 13.3.1. Brazil
- 13.3.2. Mexico
- 13.3.3. Rest of Latin America
13.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 13.4.1. Tanks
- 13.4.2. Valves
- 13.4.3. Pumps
- 13.4.4. Vaporizers
- 13.4.5. Vacuum Jacketed Piping
- 13.4.6. Others
13.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 13.5.1. Nitrogen
- 13.5.2. Oxygen
- 13.5.3. Argon
- 13.5.4. Liquefied Natural Gas
- 13.5.5. Hydrogen
- 13.5.6. Others
13.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 13.6.1. Distribution
- 13.6.2. Storage
13.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 13.7.1. Oil & Gas
- 13.7.2. Metallurgy
- 13.7.3. Automotive
- 13.7.4. Food & Beverage
- 13.7.5. Chemical
- 13.7.6. Other
13.8. Market Attractiveness Analysis

14. Middle East & Africa Cryogenic Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

14.1. Key Highlights
14.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019-2024
- 14.2.1. By Country
- 14.2.2. By Product Type
- 14.2.3. By Cryogen
- 14.2.4. By Application
- 14.2.5. By End User
14.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025-2032
- 14.3.1. GCC Countries
- 14.3.2. South Africa
- 14.3.3. Northern Africa
- 14.3.4. Rest of Middle East & Africa
14.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025-2032
- 14.4.1. Tanks
- 14.4.2. Valves
- 14.4.3. Pumps
- 14.4.4. Vaporizers
- 14.4.5. Vacuum Jacketed Piping
- 14.4.6. Others
14.5. Current Market Size (US$ Bn) Analysis and Forecast, By Cryogen, 2025-2032
- 14.5.1. Nitrogen
- 14.5.2. Oxygen
- 14.5.3. Argon
- 14.5.4. Liquefied Natural Gas
- 14.5.5. Hydrogen
- 14.5.6. Others
14.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2025-2032
- 14.6.1. Distribution
- 14.6.2. Storage
14.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025-2032
- 14.7.1. Oil & Gas
- 14.7.2. Metallurgy
- 14.7.3. Automotive
- 14.7.4. Food & Beverage
- 14.7.5. Chemical
- 14.7.6. Other
14.8. Market Attractiveness Analysis

15. Competition Landscape

15.1. Market Share Analysis, 2025
15.2. Market Structure
- 15.2.1. Competition Intensity Mapping
- 15.2.2. Competition Dashboard
15.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 15.3.1. Chart Industries Inc.
  - 15.3.1.1. Overview
  - 15.3.1.2. Solution Portfolio
  - 15.3.1.3. Key Financials
  - 15.3.1.4. Market Developments
  - 15.3.1.5. Market Strategy
- 15.3.2. Linde plc
- 15.3.3. Herose GmbH
- 15.3.4. Nikkiso Co. Ltd.
- 15.3.5. Wessington Cryogenics
- 15.3.6. Braunschweiger Flammenfilter GmbH
- 15.3.7. Standex International
- 15.3.8. INOX India Ltd.
- 15.3.9. Air Liquide SA
- 15.3.10. Premier Cryogenics Ltd.
- 15.3.11. Lapesa Grupo Empresarial s.l
- 15.3.12. Galileo Technologies S.A.
- 15.3.13. MAN Energy Solutions SE
- 15.3.14. Cryolor SA
- 15.3.15. SAS Cryo Pur
- 15.3.16. Ulvac Technologies, Inc.

16. Appendix

16.1. Research Methodology
16.2. Research Assumptions
16.3. Acronyms and Abbreviations

Cryogenic Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025 - 2032