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Cryogenic Equipment Market Size and Share 2023 | Upcoming Trends, Development Status and in-Depth Analysis Research Report by 2032
Cryogenic Equipment Market
As per the Cryogenic Equipment market report by The Business Research Company, The increase in demand for liquified natural gas is expected to drive the cryogenic equipment market. Liquified natural gas is a natural gas that is cooled to a liquid state at -260 degrees Fahrenheit and is used in various day-to-day activities such as cooking, generating electricity, heating homes, manufacturing fertilizers, and so on. The increased demand for LNG is driven by a rise in demand from domestic and industrial users and the continuing shift from coal to natural gas to generate electricity. Cryogenic equipment is used to transport liquified natural gas from one place to another in the form of storage tanks, vaporizers, and containers.
The global cryogenic equipment market size grew from $13.08 billion in 2022 to $14.14 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cryogenic equipment market size is expected to grow to $19.19 billion in 2027 at a CAGR of 7.9%.
Read More On The Cryogenic Equipment Market Report Here:
https://www.thebusinessresearchcompany.com/report/cryogenic-equipment-global-market-report
Major competitors in the Cryogenic Equipment market include Air Liquide, Beijing Tianhai Industry Co.Ltd., Chart Industries Inc., Emerson Electric Co., Flowserve Corporation, Herose GmbH, INOXCVA, Linde plc, Taylor Wharton, VRV S.p.A., Wessington Cryogenics, ACME Cryogenics, Graham Partners, Honeywell International Inc., McDermott International Inc., Nikkiso Cryo Inc., and Sumitomo Heavy Industries Ltd.
The Cryogenic Equipment market is segmented -
1) By Equipment: Tanks, Valves, Vaporizers, Pumps, Other Equipment
2) By Cryogen: Nitrogen, Argon, Oxygen, LNG, Hydrogen, Helium, Other Cryogens
3) By Application: Storage, Transportation, Processing, Other Applications
4) By End-User: Energy And Power, Chemicals, Metallurgy, Electronics, Shipping, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Cryogenic Equipment market.
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Cryogenic equipment is equipment used for producing substances at very low temperatures. Cryogenic equipment is used in the storage and transportation of liquefied gases, the preservation of food, cryosurgery, superconducting electromagnets, and others.
The Table Of Content For The Cryogenic Equipment Market Include:
1. Executive Summary
2. Cryogenic Equipment Market Characteristics
3. Cryogenic Equipment Market Trends And Strategies
4. Cryogenic Equipment Market - Macro Economic Scenario
5. Cryogenic Equipment Market Size And Growth
....
26. Africa Cryogenic Equipment Market
27. Cryogenic Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cryogenic Equipment Market
29. Cryogenic Equipment Market Future Outlook and Potential Analysis
30. Appendix
The "Global Cryogenic Equipment Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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