Cryogenic Equipment Market Size in 2023 To 2029 | Linde plc (Ireland); Air Liquide (France); Air Products and Chemicals, Inc. (US); Chart Industries (US); and Parker Hannifin Corp. (US)

The report offers detailed measurements about the drivers, development, and prospects that have a direct impact on the Cryogenic Equipment market. The market study contains an in-depth analysis of the international Cryogenic Equipment Market based on the key boundaries that encompass the drivers, sales inquiry, market limits & share. Furthermore, the report highlights the assessment of the market size in four key regions: North America, Europe, Asia-Pacific, and Rest of World. The research study aims to provide readers with an intensive valuation of current industry trends and breakdown. It spans global Cryogenic Equipment market research data from various companies, benefits, gross margin, calculated decisions in the worldwide market, and more through tables, charts, and infographics. Other significant aspects studied in this report include demand and supply dynamics, import & export scenarios, R&D development activities, industry developments, and cost structures. Additionally, consumption demand and supply figures, cost of production, and selling price of products are also estimated in this report.

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3M Company (US), Smith & Nephew PLC (UK), Cardinal Health (US), Medtronic PLC (Ireland), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Mölnlycke Health Care AB (Sweden), Convatec Group (UK), Paul Hartmann AG (Germany), Coloplast A/S (Denmark), Organogenesis Holdings Inc. (US), MiMedx Group, Inc. (US), Integra Life Sciences Holdings Corporation (US), Bioventus (US), Zimmer Biomet Holdings, Inc. (US), Ethicon, Inc. (US), DeRoyal Industries (US), Kerecis (Iceland), Acell (US), Lohmann & Rauscher GmbH & Co. KG (Germany), Medela Ag (Switzerland), Talley Group (UK), Welcare Industries SPA (Italy), Wuhan VSD Medical Science & Technology Co. Ltd. (China), Pensar Medical (US), Haromed BVBA (Belgium), DermaRite Industries LLC (US), Medline Industries, Inc. (US), Advancis Medical LLC (UK), Mil Laboratories Pvt. Ltd. (India).

This report will help new entrants or stakeholders understand the complete market dynamics within Cryogenic Equipment. The report examines the competitive scenario along with the future market landscape using various frameworks such as Porter's five forces and the parent/peer market. It considers the portfolios of key market players operating in the Cryogenic Equipment market, coupled with a comprehensive study of the products and services they offer. Moreover, this report aims to help readers understand the impact of government rules during the Covid-19 pandemic and estimate market changes throughout the global pandemic. The Global Cryogenic Equipment Market also sheds light on the major players in the sector, detailing their product portfolio, business policies, company profiles, and revenue share. Finally, the study defines strategies such as partnerships, development, collaborations, joint projects, and others executed by industry leaders to enhance their status in the sector.

"The cryogenic equipment market is projected to grow at a CAGR of 6.9% from 2023 to 2028."

The global cryogenic equipment market is estimated to grow from USD 11.9 Billion in 2023 to USD 16.6 Billion by 2028; it is expected to record a CAGR of 6.9% during the forecast period. The growth is attributed to the factors such as Increasing utilization of industrial gases in metallurgy, oil & gas, and energy & power industries. Growing popularity of liquefied natural gas as source of clean and efficient energy has driven the growth of cryogenic equipment market.

"Metallurgy: The largest segment of the cryogenic equipment market, by emd-user industry "

Based on end-user Industry, the cryogenic equipment market has been split into six types: metallurgy, energy & power, chemical, electronics, transportation, and other end-user industries. The metallurgy segment is expected to be the largest segment during the forecast period. In the metallurgy industry, processes such as metal forming, fabrication, welding, and combustion require industrial gases such as oxygen, nitrogen, argon, and hydrogen. The research and innovations associated with the development of high-strength and high-conductivity alloys for non-rare-earth induction motors used in EVs, metals with high rigidity and stiffness for use in industrial applications, new composites such as highly conducting carbon nanotubes to enhance the efficiency of electrical energy transport, and new corrosion protection systems for marine and offshore applications are also expected to create a high demand for cryogenic equipment in the metallurgy industry.

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Key Benefits of Buying the Report

Post-COVID-19 recovery and the global energy crisis have significantly boosted clean energy investments, outpacing fossil fuel investments (24% in 2023 vs. 15% in 2021, according to the IEA World Energy Investment 2023 report). The Ukraine conflict's impact on fossil fuel markets has further accelerated investments in cleaner energy sources such as LNG and hydrogen. Consequently, the clean energy transition is reshaping the energy landscape and driving demand for cryogenic equipment.

Research Coverage:

The report defines, describes, and forecasts the global cryogenic equipment market by type, mechanism, application, well type, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the cryogenic equipment market.

This release was published on openPR.