Press release
Cryogenic Transportation Services Market 2024: Global Industry Trends and Growth Opportunities
Cryogenic Transportation Services Market
The new report published by The Business Research Company, titled Cryogenic Transportation Services Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the cryogenic transportation services market size has grown strongly in recent years. It will grow from $8.76 billion in 2023 to $9.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The cryogenic transportation services market size is expected to see strong growth in the next few years. It will grow to $12.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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What Is Driving The Growth Of The Global Cryogenic Transportation Services Market?
Increasing Use Of Industrial Gases Is Driving The Growth Of Cryogenic Transportation Services Market
The increasing use of industrial gases is expected to propel the growth of the cryogenic transportation services market going forward. Industrial gases refer to the gases that are produced and used for industrial applications, which include a wide range of processes and sectors. The increasing use of industrial gases is due to their essential role in enhancing manufacturing processes, improving efficiency, and supporting innovations across various industries. Industrial gases utilize cryogenic transportation services to safely and efficiently transport gases at extremely low temperatures, preserving their liquid state for bulk distribution. For instance, in June 2024, according to a report published by the Department of Industry, Science, and Resources, an Australia-based governmental organization, Australia's manufacturing sector consumed 380 petajoules (PJ) of gas, representing a 26% share of the country's total domestic gas supply, an increase compared to the previous year's consumption. Therefore, the increasing use of industrial gases is driving the growth of the cryogenic transportation services market.
What Is The Key Trend In The Global Cryogenic Transportation Services Market?
Advance Solutions Drive Innovation In Cryogenic Transportation Services
Major companies operating in the cryogenic transportation services market are focusing on developing innovative solutions, such as cryogenic multi-use dewars, to enhance efficiency and safety in transporting cryogenic fluids. Cryogenic multi-use dewars refer to specialized containers designed for the safe storage and transport of cryogenic materials, particularly liquid nitrogen, at extremely low temperatures. For instance, in April 2024, CSafe, a US-based provider of end-to-end cold chain shipping solutions, launched the CGT Cryo Series for cryogenic temperature control. This cutting-edge product boasts advanced cryogenic technology, superior cooling efficiency, and customizable settings. Its user-friendly interface, durable construction, and energy efficiency enhance its practicality, while built-in safety protocols and versatile applications make it ideal for transporting critical CGTs. The series includes reusable dewars and high-impact-resistant shipping cases, engineered to securely handle pre-frozen biologic materials, regenerative medicine, immunotherapies, stem cells, and CAR-T cells.
How Is The Global Cryogenic Transportation Services Market Segmented?
The cryogenic transportation services market covered in this report is segmented -
1) By Type: Trailer Transportation, Truck Transportation
2) By Cryogen Type: Nitrogen, Oxygen, Natural Gas, Argon, Other Cryogen Types
3) By Application: Chemicals, Drugs, Biological Specimens, Industrial Gases, Other Applications
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How Is The Competitive Landscape Of The Global Cryogenic Transportation Services Market?
Major companies operating in the cryogenic transportation services market are United Parcel Service Inc., Linde plc, Kenan Advantage Group Inc., Marken Ltd., McCollister Transportation Group Inc, FIBA Technologies Inc., New England Cryogenic Center Inc., Autosped G Inc., GenOx Transportation Inc., Wessington Cryogenics Ltd., COREX Logistics Inc., Applied Cryo Technologies Inc., LGT Transport Inc., Hingham Moving & Storage Inc., US Cryo Carriers Inc., Pacific CA Systems Inc., Chart Ferox a.s., Krison Engineering Works Pvt. Ltd., Super Cryogenic Systems Private Limited, Herose Limited
Contents Of The Global Cryogenic Transportation Services Market
1. Executive Summary
2. Cryogenic Transportation Services Market Report Structure
3. Cryogenic Transportation Services Market Trends And Strategies
4. Cryogenic Transportation Services Market - Macro Economic Scenario
5. Cryogenic Transportation Services Market Size And Growth
…..
27. Cryogenic Transportation Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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