Global Cryogenic Equipment Market is anticipated to shoot off by the end of 2022 :Top keyplayers are Air Liquide, Beijing Tianhai, Chart, Cryoequip, Cryofab, Emerson, Flowserve, Graham, Herose, InoxCVA, Linde, Parker Hannifin, and Wessington Cryogenics

Introduction

Cryogenics studies the production & behavior of materials at very low temperatures - usually defined at or below -150 C. This field requires specialized apparatus to generate, sustain or operate at such temperatures. They are used to handle the materials like nitrogen, oxygen etc. in their liquid form. Characteristic equipment includes containers, piping, pressure vessels etc., which can be further used to create transfer lines. They require proper insulations against higher temperatures and are specifically pressure rated so that they may retain fixed temperatures.

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End-user/Technology

The major end-users of cryogenic equipment are in the power, chemical, electronics, aerospace, healthcare, and biotechnology industry. Cryogenic equipment is required to transport LNG across large distances. They are utilized in manufacturing metal tools which require low temperatures and greater life expectancy. They are used to produce and store the materials (cryogens) using separation and distillation processes. Handling of cryogenic fuels in rockets requires such equipment. In surgery, they are used to eliminate abnormal tissues for various diseases. Cryogenic equipment is also used to produce, preserve, and store drugs, genetic materials, blood etc. They are also used as parts for MRI and NMR machines. Cryogenic freezers are used to transport and store food over long distances.

Market Dynamics

The demand for cryogenic equipment is mainly driven by the increasing demand for cryogens across multiple industries. Another driver is the regulations requiring the use of environmentally safe materials.
This increasing demand is constrained by high costs and leakages. Another impediment is hazardous nature of cryogens. These same constraints entail multi-billion opportunity for growth in this industry as the technology improves and costs come down.

Market Segmentation

The market can be segmented by products type, on the basis of cryogen, and by its application.
Segmentation based on product type includes containers, valves, pumps etc. On the basis of cryogen, the market can be segmented into equipment needed to handle nitrogen, oxygen, methane etc. Based on application, it can be classified by the industrial sectors of its end users.
All of the above segmentations are fluid as new technologies emerge for different sectors. Additionally, the geographical concentration of the markets and the makers give an additional layout to these segments.

Regional/Geographic Analysis

North America (USA) is the largest producer of cryogenic equipment, followed by Europe (Germany, UK). APAC (China, India) is the largest market for cryogenic equipment. Future growth will come from APAC and Middle East with their booming economies and growing population requirements.

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Opportunities

The space industry is increasingly utilizing cryogenic equipment for storing cryogenic fuels. Advancements in cryogenic based healthcare service will provide greater opportunities. Growing LNG and food refrigeration requirements in developing economies provide opportunities in newer markets.

Key Players

Some of the major players in the market include Air Liquide, Beijing Tianhai, Chart, Cryoequip, Cryofab, Emerson, Flowserve, Graham, Herose, InoxCVA, Linde, Parker Hannifin, and Wessington Cryogenics.

Report Contents Regional Analysis Report Highlights

Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players

North America
US and Canada

Latin America
Mexico, Brazil, Argentina and Rest of Latin America

Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe

Eastern Europe
Russia
Poland
Rest of Eastern Europe

Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific

Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa

This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.

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Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage

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