Cryogenic Equipment Market worth $18.65 billion by 2030, growing at a CAGR of 6.80% - Exclusive Report by 360iResearch

The "Cryogenic Equipment Market by Product (Freezer, Pipe, Pumps), Cryogen (Argon, Helium, Hydrogen), System Type, End-User - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Cryogenic Equipment Market to grow from USD 11.76 billion in 2023 to USD 18.65 billion by 2030, at a CAGR of 6.80%.

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Cryogenic equipment is designed to produce, maintain, and utilize extremely low temperatures below -150°C. This specialized equipment is necessary for liquefying gases such as nitrogen, oxygen, hydrogen, and helium through the cryogenic distillation process and achieving their superfluid states. Cryogenic equipment has various applications across industries such as healthcare, energy, metallurgy, chemicals, food processing and oil & gas. Increasing demand for liquefied gases from various end-use industries significantly drives the market growth. Moreover, emerging applications of cryogenic equipment across various industries, such as aerospace and aviation, leads to the market expansion. However, the high cost of the liquefaction process for cryogenic gases, along with the technical limitations, create hindrances for the deployment of cryogenic equipment. Furthermore, continuous innovations in the development of cryogenic equipment create potential opportunities for market growth.

In the American region, the market for cryogenic equipment is growing with the continued innovation in sectors such as healthcare, transportation, and manufacturing. The major manufacturers within the region are investing heavily in research and development and increasing production capacity. Within the European Union, cryogenic equipment deployment is expanding due to growth in key end-use industries. European Union's regulations around renewable energy and reduced emissions contributed to the adoption of cryogenic equipment. There is a growing demand for eco-friendly transportation, such as liquefied natural gas and liquid hydrogen, in the EU, which uses cryogenic technology. The Middle East and Africa present opportunities for growth in the cryogenics market, especially for the storage and transportation of liquefied natural gas and helium. The Middle East and Africa region witnessed a growing interest in cryogenic applications for water desalination and cold chain logistics. The countries, including China, Japan, and India, across the APAC region witnessed the growing demand in industries such as electronics, transportation, and space exploration contributing to the adoption of cryogenic equipment. These Asian markets generally comprise large domestic cryogenic equipment manufacturers, along with the presence of international companies.

Market Segmentation & Coverage:

This research report categorizes the Cryogenic Equipment Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product, market is studied across Freezer, Pipe, Pumps, Tanks, Valves, and Vaporizers. The Tanks commanded largest market share of 20.27% in 2023, followed by Freezer.

Based on Cryogen, market is studied across Argon, Helium, Hydrogen, LNG, Nitrogen, and Oxygen. The LNG commanded largest market share of 20.10% in 2023, followed by Nitrogen.

Based on System Type, market is studied across Handling System, Storage System, and Supply System. The Storage System commanded largest market share of 48.17% in 2023, followed by Handling System.

Based on End-User, market is studied across Chemicals, Electronics, Energy & Power, Healthcare, Oil & Gas, and Transportation. The Oil & Gas commanded largest market share of 17.23% in 2023, followed by Transportation.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.22% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Cryogenic Equipment Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Cryogenic Equipment Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Cryogenic Equipment Market, highlighting leading vendors and their innovative profiles. These include Ability Engineering Technology, Inc., Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Atlas Copco AB, Azenta, Inc., Beijing Tianhai Cryogenic Equipment Co., Ltd, Bluefors Oy, Caterpillar Inc., Chart Industries, Inc., CIMC Enric Holdings Limited, CRYO PUR by La Francaise de l'Energie, Cryofab Inc., Cryospain, S.L., CryoVation LLC, CS&P Technologies, LP, Dover Corporation, Emerson Electric Co., Fives Group, Flowserve Corporation, Harris Products Group by Lincoln Electric Holdings, Inc., Herose GmbH, Honeywell International Inc., IceCure Medical Ltd., Indian Oil Corporation Limited, INOX India Limited, Linde PLC, MAN Energy Solutions SE, Nikkiso, Co. Ltd., Omni Tanker Pty Ltd., Pacira BioSciences, Inc., Parker-Hannifin Corporation, PHPK Technologies, Schlumberger N.V, Sulzer Ltd., Sumitomo Heavy Industries, Ltd., Taylor-Wharton, Thermo Fisher Scientific Inc., and Wessington Cryogenics Ltd..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Cryogenic Equipment Market, by Product
7. Cryogenic Equipment Market, by Cryogen
8. Cryogenic Equipment Market, by System Type
9. Cryogenic Equipment Market, by End-User
10. Americas Cryogenic Equipment Market
11. Asia-Pacific Cryogenic Equipment Market
12. Europe, Middle East & Africa Cryogenic Equipment Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Cryogenic Equipment Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Cryogenic Equipment Market?
3. What is the competitive strategic window for opportunities in the Cryogenic Equipment Market?
4. What are the technology trends and regulatory frameworks in the Cryogenic Equipment Market?
5. What is the market share of the leading vendors in the Cryogenic Equipment Market?
6. What modes and strategic moves are considered suitable for entering the Cryogenic Equipment Market?

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