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Cryogenic Equipment Market Set to Register 7% CAGR During 2018-2024: Top Manufactures Emerson Electric, Wessington Cryogenics, Chart Industries, INOXCVA, Cryostar, Linde Group, Praxair Technology, Air Liquide, Technifab Products, Ebara, Nikisso Cryo

11-09-2018 12:26 PM CET | Energy & Environment

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Cryogenic Equipment Market, Global Cryogenic Equipment Market Size, Cryogenic Equipment Industry

Cryogenic Equipment Market, Global Cryogenic Equipment Market Size, Cryogenic Equipment Industry

Market Study Report adds 2018-2024 Global Cryogenic Equipment market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

Robust investments in E&P ventures along with increasing consumption of natural gas across the industrial sector will complement the U.S. cryogenic equipment market growth. Furthermore, expansion of natural gas liquefication capacity will stimulate the industry growth in the country. According to the EIA, in 2017, U.S. natural gas consumption was estimated to be 7.9 million cubic feet across the industrial sector.

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Cryogenic Equipment Market is anticipated to surpass USD 25 billion by 2024. Rising adoption of natural gas on account of introduction of regulations pertaining to reduction in carbon footprint coupled with rising investments toward the development of existing manufacturing facilities will drive the cryogenic equipment market growth. In addition, increased number of integrated gasification combined cycle and coal & gas to liquid projects will fuel the industry growth.

Nitrogen based cryogenic equipment market will witness growth on account of its extensive applications in oil & gas operations including EOR, injection & pressure testing, well stimulation, reservoir pressure maintenance, inert gas lift and nitrogen floods. Moreover, major use of gas in the start-up preparations and during plant maintenance shutdown of petrochemical & refinery industry will stimulate the product adoption.

Healthcare cryogenic equipment market will expand on account of ongoing investment toward modernization and refurbishment of existing healthcare infrastructure. The industry is growing at a high pace on account of technological advancements in the medical equipment sector for the treatment of chronic diseases. In the U.S., spending toward health grew by 17% from 2013 to 2016, an increase of around USD 3 trillion.

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Cryopump market is anticipated to grow over 7% by 2024. Ongoing investments across power and oil & gas sector will accelerate the business growth. In addition, availability of wide variety of designs including refrigerator-cooled, supercritical helium-cooled, novel cryogenic pump and bath cryopumps to meet the growing customer requisites will fuel the product adoption.

Natural gas based cryogenic equipment market will witness growth on account of rising energy demand coupled with the product?s ability to produce various industrial gases including methane, hydrogen and helium. As per the IEA, natural gas demand could witness a steep growth of more than half by 2040 owing to its rising demand as fuel & feedstock from various industries. Moreover, shifting focus toward natural gas-based electricity generation owing to rising concerns toward GHG emissions will stimulate the cryogenic equipment market growth.

Eminent industry players across the cryogenic equipment market includes INOXCVA, Wessington Cryogenics, Emerson Electric, Air Liquide, Linde Group, Cryostar, Air Products and Chemicals, Ebara, Graham Partners, Praxair Technology, Nikisso Cryo and Technifab Products.

Table of Content:

Chapter 1. Cryogenic Equipment Market Methodology and Scope

Chapter 2. Cryogenic Equipment Market Executive Summary

Chapter 3 Cryogenic Equipment Market Industry Insights

Chapter 4 Cryogenic Equipment Market, By Product

Chapter 5 Cryogenic Equipment Market, By Cryogen

Chapter 6 Cryogenic Equipment Market, By Application

Chapter 7 Cryogenic Equipment Market, By End-user

Chapter 8 Cryogenic Equipment Market, By Region

Chapter 9. Cryogenic Equipment Market Company Profiles

For more information on this report, Please visit at: https://www.marketstudyreport.com/reports/cryogenic-equipment-market/?utm_source=OPR-SP

Related Report:

Global Oxygen Cryogenic Equipment Market Research Report 2018

In this report, the global Oxygen Cryogenic Equipment market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.

https://www.marketstudyreport.com/reports/global-oxygen-cryogenic-equipment-market-research-report-2018?utm_source=RR-SP

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