PUBLISHER: The Business Research Company | PRODUCT CODE: 1942638
PUBLISHER: The Business Research Company | PRODUCT CODE: 1942638
Cryogenic equipment encompasses tools designed for the production and handling of substances at extremely low temperatures. This equipment finds application in various fields, including the storage and transportation of liquefied gases, food preservation, cryosurgery, and the operation of superconducting electromagnets.
The primary categories of cryogenic equipment include tanks, valves, vaporizers, pumps, and other specialized equipment. Cryogenic tanks, for instance, are well-suited for the storage of large quantities of gases in liquid form, such as liquid oxygen, nitrogen, argon, carbon dioxide, LNG, LPG, and liquid hydrogen. Various cryogens, including nitrogen, argon, oxygen, LNG, hydrogen, helium, and others, are utilized in cryogenic equipment. This equipment serves diverse purposes, including storage, transportation, and processing, and is employed by different industries such as energy and power, chemicals, metallurgy, electronics, shipping, and others.
Tariffs are impacting the cryogenic equipment market by increasing costs of imported stainless steel, vacuum insulation materials, valves, pumps, and precision components used in tanks, vaporizers, and transfer systems. Energy, electronics, and chemical sectors in North America and Europe are most affected due to reliance on imported equipment, while Asia-Pacific faces higher costs for export-oriented manufacturing. These tariffs are increasing project capital expenditure and delivery timelines. However, they are also promoting domestic fabrication, regional supplier development, and localized production of cryogenic systems.
The cryogenic equipment market research report is one of a series of new reports from The Business Research Company that provides cryogenic equipment market statistics, including cryogenic equipment industry global market size, regional shares, competitors with a cryogenic equipment market share, detailed cryogenic equipment market segments, market trends and opportunities, and any further data you may need to thrive in the cryogenic equipment industry. This cryogenic equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cryogenic equipment market size has grown strongly in recent years. It will grow from $22.7 billion in 2025 to $24.89 billion in 2026 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to expansion of industrial gas applications, growth in lng transportation infrastructure, rising adoption of cryogenic storage in healthcare, expansion of metallurgical processing activities, availability of advanced insulation technologies.
The cryogenic equipment market size is expected to see strong growth in the next few years. It will grow to $35.33 billion in 2030 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing investments in hydrogen energy infrastructure, rising demand for superconducting and cryogenic research systems, expansion of semiconductor manufacturing, growing focus on low-loss energy storage, increasing adoption of cryogenic solutions in clean energy projects. Major trends in the forecast period include increasing demand for lng and hydrogen cryogenic systems, rising deployment of energy-efficient cryogenic storage solutions, growing use of cryogenic equipment in electronics manufacturing, expansion of cryogenic applications in healthcare and research, enhanced focus on safety and thermal efficiency.
The rising demand for liquefied natural gas (LNG) is anticipated to drive growth in the cryogenic equipment market. Liquefied natural gas is produced by cooling natural gas to a liquid state at -260 degrees Fahrenheit and is utilized in various everyday activities, including cooking, electricity generation, home heating, and fertilizer manufacturing. The growing demand for LNG is fueled by increasing needs from both domestic and industrial users, as well as the ongoing transition from coal to natural gas for electricity generation. Cryogenic equipment facilitates the transportation of liquefied natural gas through storage tanks, vaporizers, and containers. For instance, in 2025, according to data released by the International Energy Agency (IEA), a France-based intergovernmental organization reported that, the global LNG supply grew by 2% (or 6 bcm) y-o-y through the 2024/25 heating season. LNG supply growth is forecast to accelerate to 5%, or 27 bcm, in 2025 amid the expected starts and ramping up of several large LNG projects.This growth is driven by rising natural gas consumption, the demand for clean energy technologies, and the increasing use of cryogenic equipment in sectors such as aerospace, automotive, and healthcare, despite challenges like high costs and safety concerns.
Major players in the cryogenic equipment market are actively engaged in innovation, exemplified by the introduction of groundbreaking products like the Cryo-Blade. Launched by Cole-Parmer Instrument Company in May 2023, the Cryo-Blade stands out as a powerful cryogenic grinder designed for sample processing in various scientific and research applications. This cutting-edge tool leverages cryogenic temperature control along with efficient grinding capabilities to enable the pulverization of samples for further analysis. The Cryo-Blade provides researchers with a controlled and automated solution for cryogenic sample preparation and processing, enhancing the reliability and effectiveness of this crucial step in scientific investigations. With its high processing capacity and versatile application, the Cryo-Blade has become an essential instrument in laboratories and research institutions, reflecting the commitment of companies to innovation and advancement in the cryogenic equipment market.
In March 2023, Chart Industries, a U.S.-based manufacturer of highly engineered equipment serving various applications in the clean energy and industrial gas markets, acquired Howden for $4.4 billion. This acquisition aimed to enhance Chart Industries' technological capabilities and expand its portfolio in cryogenic and energy transition technologies, with a particular emphasis on hydrogen and LNG applications. Howden is a UK-based manufacturer of engineering equipment.
Major companies operating in the cryogenic equipment market are Air Liquide S.A., Beijing Tianhai Industry Co. Ltd., Chart Industries Inc., Emerson Electric Co., Flowserve Corporation, Herose GmbH, Inoxca India Ltd., Linde plc, Taylor Wharton International LLC, Wessington Cryogenics Ltd., ACME Cryogenics Inc., Nikkiso Cryo Inc., Sumitomo Heavy Industries Ltd., Parker Hannifin Corporation, SHI Cryogenics Group, Sulzer Ltd., INOX India Pvt. Ltd., Fives SAS, Cryofab Inc., Shell-n-Tube Pvt. Ltd., Chase Research Cryogenics Ltd.
Asia-Pacific was the largest region in the cryogenic equipment market in 2025. The regions covered in the cryogenic equipment market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cryogenic equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The cryogenic equipment market consists of sale of cryogenic storage racks and boxes, cryogenic refrigerators, temperature controllers, cryogenies accessories and cryogenic tanks. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cryogenic Equipment Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses cryogenic equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cryogenic equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The cryogenic equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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