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Global Cryogenic Pump Market - By Size, Share, Price, Trends, Growth, Analysis, Report And Forecast 2023-2032
Cryogenic Pump Market
The Business Research Company's Cryogenic Pump Global Market Report 2023 identifies rise in electricity generation from renewable resources as the major driver for the Cryogenic Pump market's growth in the forecast period. Electricity generation from renewable resources refers to clean energy that is collected from renewable resources such as biomass energy, hydropower, geothermal power, wind energy, and solar energy. Cryogenic pumps are used to generate renewable electricity by the depressurization of high-pressure gases using power production equipment, resulting in the generation of electricity.
The global cryogenic pump market size grew from $2.14 billion in 2022 to $2.26 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. 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, causing inflation across goods and services and affecting many markets across the globe. The cryogenic pump market size is expected to grow to $2.82 billion in 2027 at a CAGR of 5.7%.
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Major competitors in the Cryogenic Pump market are Ebara Corporation, Fives Group SAS, Nikkiso Co., Ltd., PHPK Technologies, Ruhrpumpen Group.
A key trend in the Cryogenic Pump market includes technological innovation. Major companies operating in the cryogenic pump market are focused on developing new technological solutions to strengthen their position. For instance, in December 2021, Edwards Vacuum, a UK-based company and provider of cryogenic pumps, launched a new cryopump for semiconductor applications, the CTI-Cryogenics On-Board IS 320F XVS. This product has unique features such as intelligent self-adjusting technology, variable speed motor and control system, and cryogenic heat load compensation that are designed to provide stable, consistent vacuum performance between regenerations.
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The Cryogenic Pump market is segmented -
• By Type: Positive Displacement Pump, Centrifugal Pump
• By Cryogen Type: Nitrogen, Oxygen, Argon, Liquefied Natural Gas, Other Cryogen Type
• By Orientation: Horizontal, Vertical
• By End-User: Oil And Gas, Metallurgy, Power Generation, Chemical And Petro Chemical, Marine, 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 Pump market.
The Business Research Company's "Global Cryogenic Pump Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cryogenic Pump Market Include:
1. Executive Summary
2. Cryogenic Pump Market Characteristics
3. Cryogenic Pump Market Trends And Strategies
4. Cryogenic Pump Market - Macro Economic Scenario
5. Cryogenic Pump Market Size And Growth
…………………………
26. Africa Cryogenic Pump Market
27. Cryogenic Pump Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cryogenic Pump Market
29. Cryogenic Pump Market Future Outlook and Potential Analysis
30. Appendix
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