Cryogenic Equipment Market is Estimated to Reach USD 19.75 Billion By 2030: Cognitive Market Research

Global Cryogenic Equipment Market Overview:
Cryogenic equipment refers to the devices, machines, and systems that store, handle, and transport materials at extremely low temperatures. Cryogenic equipment is used to generate, transport, and store cryogens at cryogenic temperatures for a variety of markets. From simple flexible hose orders to complex piping systems.

Summary:
• Global Cryogenic Equipment Market Size Was Valued at USD 12.06 Billion In 2022 And Is Expected to Grow at a CAGR Of 6.36 % During the Forecast Period, Reaching USD 19.75 Billion By 2030.
• Increasing demand for cryogenic products in various fields, from space exploration to the development of new medical treatments along with the rise in popularity of LNG as an environmentally sustainable fuel which is the major driving factor for the growth of the cryogenic equipment market.
• Asia Pacific is accounted for the largest share of the cryogenic equipment market.
• Metallurgy acquired a major share in 2022. This is because cryogenic equipment plays an important role in the metallurgy industry, particularly in the production and processing of metals that require extremely low temperatures.

To know more The Cryogenic Equipment Market statistics click here: https://www.cognitivemarketresearch.com/cryogenic-equipment-market-report

Market Dynamics:
Increasing demand for cryogenic products in various fields, from space exploration to the advancement of new medical treatments along with the rise in popularity of LNG as an environmentally sustainable fuel is the main driving factor contributing to the growth of the global cryogenic equipment market during the forecast period. These are increasingly adopted for the long-term storage of biological samples, including cells, tissues, and DNA, at ultra-low temperatures. In addition, the rise in the adoption of sustainable machining methods that satisfies the industry standard is another factor that propels the demand for the cryogenic equipment market.
However, extensive energy requirements for regeneration and the high operating cost of systems may obstruct the growth of the global cryogenic equipment market in near future. Further, greater awareness of cryogenic engineering and cryogenic equipment is expected to create lucrative opportunities for the cryogenic equipment market during the forecast period.

Global Cryogenic Equipment market segmentation:
Type:
• Tanks
• Valves
• Pumps & Vaporizers
• Vacuum Jacketed Piping
The tanks segment acquired the major revenue share in 2022.
The tanks segment acquired the major revenue share during the forecast period. This is because these cryogenic tanks are significantly adapted to store liquefied gases such as nitrogen, oxygen, and argon at cryogenic temperatures.

Cryogen:
• Nitrogen
• Oxygen
• Argon
• Liquefied Natural Gas (LNG)
Liquefied Natural Gas (LNG) held a significant market share in 2022.
Liquefied Natural Gas (LNG) held a significant market share, as rising awareness toward environment-friendly sources of energy. It presents a number of characteristics that must be taken into account when looking for storage alternatives. For example, For example, U.S. LNG exports continued to grow in 2021, averaging 42% or 2.8 Bcf/d.

End Use Industry:
• Oil & Gas
• Metallurgy
• Automotive
• Food & Beverages
• Chemicals
• Others
Based on the end-use industry, the metallurgy segment is expected to hold a significant share during the forecast period
Metallurgy acquired a major share in 2022. This is due to cryogenic equipment playing an important role in the metallurgy industry, particularly in the production and processing of metals that require extremely low temperatures.

Competitive Analysis for Cryogenic Equipment Market: Air Liquide, Linde Group AG, Chart Industries, Cryofab, Cryoquip, Herose Gmbh, Inox India, Taylor Wharton International, VRV S.P.A., Wessington Cryogenics, Beijing Tianhai Industry

Get free sample pages of latest published Cryogenic Equipment Market Report: https://www.cognitivemarketresearch.com/cryogenic-equipment-market-report

Asia Pacific is expected to dominate the cryogenic equipment market during the forecast period.
Asia Pacific is expected to dominate the cryogenic equipment market during the forecast period. The growth of the market is significantly growing in the region due to rapid industrialization and the growing demand for medical gases and products. The Asia Pacific region is witnessing significant growth in the electronics and semiconductor industries, which use cryogenic equipment for cooling and processing electronic components. The increasing demand for energy in the region has led to the building of new LNG plants and infrastructure, further boosting the demand for cryogenic equipment.

Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Cryogenic Equipment Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Cryogenic Equipment Market Segmentation
1.5.1 Cryogenic Equipment Market Regional Fragmentation
1.5.1 Cryogenic Equipment Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Cryogenic Equipment Market
• 3.1 Global Cryogenic Equipment Market Size 2018 - 2030, (USD Million)
• 3.2 Global Cryogenic Equipment Market Statistics 2022: Snapshot
Chapter 4 Global Cryogenic Equipment Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Cryogenic Equipment Market by Type Segmentation Analysis (2018-2030)
Chapter 9 Global Cryogenic Equipment Market by Application Segmentation Analysis (2018-2030)
Chapter 10 Global Cryogenic Equipment Market Regional Analysis
Chapter 11 North America Cryogenic Equipment Market Outlook (2018 - 2030)
Chapter 12 Europe Cryogenic Equipment Market Outlook (2018 - 2030)
Chapter 13 Asia Pacific Cryogenic Equipment Market Outlook (2018 - 2030)
Chapter 14 Latin America Cryogenic Equipment Market Outlook (2018 - 2030)
Chapter 15 Middle East and Africa Cryogenic Equipment Market Outlook (2018 - 2030)
Chapter 16 Research Findings
Customized/Exclusive Report Access on Request
To know more Cryogenic Equipment Market TOC click here: https://www.cognitivemarketresearch.com/cryogenic-equipment-market-report#table_of_contents

Related report:
• Temperature controller market- https://www.cognitivemarketresearch.com/temperature-controller-market-report
• Machine control system market- https://www.cognitivemarketresearch.com/machine-control-system-market-report
• Optical measurement equipment market- https://www.cognitivemarketresearch.com/optical-measurement-equipment-market-report
• Cryogenic insulation films market- https://www.cognitivemarketresearch.com/cryogenic-insulation-films-market-report

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
USA: +1 312-376-8303
Europe and UK: (+44) 20-8144-9523
Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us

About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

This release was published on openPR.