Cryogenic Pump Market to Reach $1.5 billion by 2027 | Atlas Copco AB, EBARA CORPORATION, SHI Cryogenics Group, Nikkiso Co., Ltd, Fives Group

According to a new market research report, the global cryogenic pump market is projected to reach USD 1.5 billion by 2027 from an estimated market size of USD 1.2 billion in 2022, at a CAGR of 4.6% during the forecast period. The rise in demand for cryogenic pumps from the energy & power industry, especially the oil & gas sector, is the primary driver of market growth. On the contrary, the volatility in raw material prices and interference from gray market players restrain the growth of the market.

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The Asia Pacific region is estimated to be the largest market for the Cryogenic pump market, followed by Europe. The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growth of the North American cryogenic pump market is expected to be driven by increasing E&P activities concerned with clean energy revolution.

The cryogenic pump market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global cryogenic pump market include Atlas Copco AB (Sweden), EBARA CORPORATION (Japan), SHI Cryogenics Group (Japan), Nikkiso Co., Ltd. (Japan) And Fives Group (France).

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This research report categorizes the cryogenic pump market by Orientation, Design, Type, Cryogen, End User and Region.

On the basis of by Orientation:

Horizontal
Vertical

On the basis of by Design:

Submersible
Non-Submersible

On the basis of by Type:

Centrifugal
Positive displacement

On the basis of by Cryogen:

Nitrogen
Oxygen
Argon
LNG
Helium
Hydrogen
Other Cryogens

On the basis of by end user:

Metallurgy
Energy & Power
Chemicals
Electronics
Healthcare & Pharmaceuticals
Others

On the basis of Region:

North America
South America
Europe
Asia Pacific
Middle East
Africa

Recent Developments

In April 2022, TRILLIUM FLOW TECHNOLOGIES acquired Termomeccanica Pompe, an Italian manufacturer of highly engineered vertical turbine and split case pumps.
In April 2022, Cyostar had been contracted to provide 15 NeoVP vertical pumps to be installed in an ASU in China.
In November 2021, Elliot Group inaugurated a new state-of-the-art cryogenic pump testing facility in Jeannette, pennsylvania, US.
In November 2021, Fives Group was contracted to provide its cryomec pumps for installation in a major industrial gas complex in Jubail industrial city, Saudi Arabia.

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Nitrogen: The largest segment of the Cryogenic pump market, by equipment

The cryogenic pump market, by cryogen, is segmented into nitrogen, argon, oxygen, LNG, helium, hydrogen, and other cryogens. Other cryogens include nitrous oxide, ethylene, and carbon dioxide. The nitrogen segment is expected to hold the largest size of the market for cryogenic pump market. The high market share of the nitrogen segment can be attributed to the high demand for liquified nitrogen from the energy & power and electronics industries.

Related Reports -

Cryogenic Equipment Market - Global forecast to 2027
https://www.marketsandmarkets.com/Market-Reports/cryogenic-equipment-market-735.html

Oil & Gas Pumps Market - Global forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/oil-gas-pump-market-72491540.html

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