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Cryogenic Equipment Market to Witness Huge Growth by Key Players: Linde plc, Chart Industries, Parker Hannifin, Flowserve Corporation, Emerson, Taylor Wharton, Herose GmbH, Cryostar and Others.

04-07-2020 05:30 PM CET | Energy & Environment

Press release from: ReportsandReports

Cryogenic Equipment Market to Witness Huge Growth by Key

According to Market Study Report, Cryogenic Equipment Market provides a comprehensive analysis of the Cryogenic Equipment Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry. This report also provides market landscape and market share information in the Cryogenic Equipment Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Cryogenic Equipment Market is projected to reach USD 17.1 Billion by 2025 from an estimated USD 12.6 Billion in 2020, at a CAGR of 6.4% during the forecast period. This report spread across 169 pages, profiling 20 companies and supported with 119 tables and 34 figures are now available in this research.

Top Companies profiled in the Cryogenic Equipment Market:
o Linde plc (Ireland)
o Chart Industries (US)
o Parker Hannifin (US)
o Flowserve Corporation (US)
o Emerson (US)
o Air Products (US)
o INOXCVA (India)
o Taylor Wharton (Japan)
o Cryofab (US)
o Wessington (UK)
o ACME (US)
o Herose GmbH (Germany)
o Cryostar (France)
o Cryoquip LLC (US)

"The tanks, by well type, is expected to be the largest and the fastest-growing market from 2020 to 2025."
Tanks account for the largest share in the global cryogenic equipment market in 2019. Global demand for LNG tanks and micro bulk tanks is growing thus creating demand opportunities for tanks during the forecast period. Countries like Russia and Qatar are focusing on LNG production increase and therefore, these require the high number of cryogenic tanks for storing the LNG. In November 2019, Novatek, one of the significant LNG producers from the Yamal LNG project, gave the order for construction of 2 new full containment 160,000 cubic meters LNG storage tanks.

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"The electronics segment, by application, is expected to be the fastest-growing market from 2020 to 2025."
Cryogenics has vast applications in the electronics industry. Cryogenic processing extends the life of the circuit boards. They are also employed in switching devices, semiconductor, and superconductor devices since low temperature decreases the resistance of materials. Cryogenic milling and freezer grinding are some of the other processes that happen in the electronic industry. Cryogenic equipment such as semiconductor grade vaporizers and tanks are commonly used.

"Asia Pacific: The largest and the fastest-growing region in the cryogenic equipment market."
The region is developing into the fastest-growing end-market for energy, power, and technologies. Also, substantial growth in related industries such as metallurgy, chemical manufacturing, food and beverages, and energy & power, which altogether drives the growth of the cryogenic equipment market. China and India are the fastest-growing countries in the region, generating a huge demand for cryogenic equipment.

Breakdown of primary participants' profile:
o By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
o By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
o By Region: Asia Pacific- 36%, Europe- 18%, North America- 14%, Middle East- 14%, South America- 9%, Africa - 9%,

Competitive Landscape of Cryogenic Equipment Market:
1 Overview
2 Ranking Of Players And Industry Concentration, 2018
2.1 Contracts & Agreements
2.2 Partnerships/Collaborations/Joint Ventures/Mergers & Acquisitions
3 Competitive Leadership Mapping
3.1 Visionary Leaders
3.2 Innovators
3.3 Dynamic
3.4 Emerging

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Research Coverage:
The report defines, describes, and forecasts the cryogenic equipment market, by equipment, cryogen, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value and volume and future trends in the cryogenic equipment market.

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