Cryogenic Freezer Marketprojected to reach USD 19.34 billion by 2032-Thermo Fisher, Panasonic, Eppendorf, Aucma, Haier Bio-Medical, ZhongkeMeiling Cryogenics Company Limited, Daihan Scientific, Nihon Freezer, Binder, So - Low, IlShin

The global cryogenic equipment market is projected to reach USD 19.34 billion by 2032 from an estimated market size of USD 11.5 billion in 2022, at a CAGR of 12.12% during the forecast period. The factors driving the growth for cryogenic equipment market are high demand for industrial gases from metallurgy, and energy & power industries and growing demand for cryogenic equipment across entire LNG value chain. Recession is going to hit soon badly, know your market well.

Key Players Mentioned in the Cryogenic Freezer Market Research Report: Thermo Fisher, Panasonic, Eppendorf, Aucma, Haier Bio-Medical, ZhongkeMeiling Cryogenics Company Limited, Daihan Scientific, Nihon Freezer, Binder, So - Low, IlShin

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Opportunities: Growing space and satellite missions bring opportunities for cryogenic storage equipment
Cryogenic equipment are used for storing and handling of space specimen. Due to the inert nature of cryogenic industrial gases, the characteristics of asteroids specimen remain intact. Cryogenic fluid is an essential usable for space missions. The space cryogenics applications fall into two broad categories, which include supporting space science missions and supporting the space transportation infrastructure. Cryogenic gases are also useful for satellite operations. These can serve as a coolant to keep spacecraft equipment operational. Also, these gases are able to extend the lifespan of satellite instruments, if used to refill a satellite.

As economies strive for enhancing their space reach, there is an increasing number of space missions for Mars, moon, and satellite launching. According to the American Institute of Physics, NASA is expected to raise its funding for space operations in 2020. In February 2020, NASA awarded a contract to SpaceX for the launch of a mission to a large metallic asteroid, on the company's Falcon Heavy rocket. The contract was valued at USD 117 million, which includes the launch and other mission-related costs.

Satellites is another major investment-lucrative sector. As the demand for real-time data and information increases, satellite operators intend to increase the number of satellites to provide low-cost internet to remote locations. In 2019, Amazon announced Project Kuiper for accomplishing the company's plans to launch a group of 3,236 satellites into low Earth orbit in order to provide internet to isolated communities. SpaceX plans to launch 12,000 satellites for providing low-cost internet. Such projects will create demand opportunities for cryogenic equipment.

Cryogenic Freezer Market

Temperature: -20℃~-80℃, Temperature: below - 80 ℃.

Application as below

Research Institutes and Universities, Life Sciences & Pharmaceuticals, Industrial

The LNG segment is expected to be the largest segment of the cryogenic equipment market, by cryogen, during the forecast period
The cryogenic equipment market, by cryogen, is segmented into nitrogen, argon, oxygen, LNG, hydrogen, and others. Other cryogenic gases include helium, nitrous oxide, ethylene, and carbon dioxide. LNG segment holds the largest share in the cryogenic equipment market, followed by Nitrogen. Rising demand for hydrogen fuel cells and cleaner energy is expected to drive the cryogen segment of the cryogenic equipment market during the forecast period.

The storage system is expected to be the largest contributor to the cryogenic equipment market, by system type, during the forecast period
The cryogenic equipment market, by system type, is segmented, into storage system, handling system, supply system, and others. The storage system segment is expected to hold the largest share of the market and is also expected to grow with the highest CAGR of 7.5% during the forecast period. Government investments in gas generation and growing applications in aerospace industry is expected to drive the demand for cryogenic equipment.

The metallurgy is expected to be the largest contributor to the cryogenic equipment market, by well type, during the forecast period
The cryogenic equipment market, by end-user, is segmented into metallurgy, energy & power, chemical, electronics, transportation, and others. Other end-users include healthcare, aerospace, and food & beverages (F&B) industries. Metallurgy is expected to hold the largest market share in 2021 and have highest growth rate in the forecast period. The growing energy & oil demands and technological advancements is expected to drive the segment in the forecast period.
Cryogenic Freezer Market Report Scope

ESTIMATED YEAR 2022

BASE YEAR 2021

FORECAST YEAR 2029

HISTORICAL YEAR 2020

UNIT Value (USD Million/Billion)

The Cryogenic Freezer report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region during the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and the rest of Europe)
Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
Latin America (Brazil, Mexico, and the rest of Latin America)
Middle East and Africa (GCC and rest of the Middle East and Africa)

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Key questions answered in the report:

Which are the five top players of the Cryogenic Freezer market?
How will the Cryogenic Freezer market change in the next five years?
Which product and application will take a lion's share of the Cryogenic Freezer market?
What are the drivers and restraints of the Cryogenic Freezer market?
Which regional market will show the highest growth?
What will be the CAGR and size of the Cryogenic Freezer market throughout the forecast period?
Note - To provide a more accurate market forecast, all our reports will be updated prior to delivery considering the impact of COVID-19.

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