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Cryogenic Pump Market Global Report 2025: Trends, Growth Drivers, and Forecast To 2034
Cryogenic Pump Market
The Cryogenic Pump Market: Swift Growth Bolstered by Rising Adoption of Cleaner Fuel Alternatives and Green Energy Systems
What Is The Projected Market Size Of The Global Cryogenic Pump Market And Its Growth Rate?
The cryogenic pump market has experienced robust growth in recent years, largely attributed to wide-ranging industrial applications and alternative fuel adoption. Key figures include:
• The market size escalated from $2.4 billion in 2024 to $2.54 billion in 2025 with a CAGR of 6.1%.
• Factors contributing to this strong growth include growth in industrial gas applications, the expansion of healthcare and medical gases markets, and increased demand for cryogenic equipment in aerospace and defense.
• The market size is projected to further grow to $3.26 billion in 2029 at a CAGR of 6.4%, propelled by factors including the adoption of hydrogen as green energy, growth in biotechnology and pharmaceutical cryopreservation, and increasing demand for cryogenic pumps in emerging economies and developing regions.
What Is Driving The Growth In The Cryogenic Pump Market?
The rise in electricity generation from renewable resources significantly propels the growth of the cryogenic pump market. Essentially, these pumps are utilized in the generation of renewable electricity through the depressurization of high-pressure gases. For instance, according to the Government Digital Service, a UK-based government body, in Quarter 2 2023, renewable sources remarkably produced 42.1% of power, surpassing the share produced by fossil fuels (38.8%) and even the same quarter of the previous year (38.7%). Therefore, this surge in renewable energy generation has been an essential driver for the growth of the cryogenic pump market.
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Who Are the Key Players Driving Cryogenic Pump Market Growth?
• Ebara Corporation
• Fives Group SAS
• Nikkiso Co Ltd.
• Sumitomo (SHI) Cryogenics of America Inc.
• Trillium Flow Technologies
• Barber-Nichols
• CryoVation LLC.
• ChampionX Production Systems Technologies LP
• KRYTEM Cryogenic Systems
• Sehwa Tech Inc.
• Vanzetti Engineering S.p.A.
• Xinxiang Chengde Energy Technology Equipment Co.Ltd.
• Brooks Automation Inc.
• Cryostar SAS
• Flowserve Corporation
• Linde AG
• Chart Industries Inc.
• Cryoquip LLC
• Atlas Copco AB
• INOXCVA
• Hydro-Pac Inc.
• Pentair plc
• Advanced Thermal Products Inc.
• Acme Cryogenics
• Surrey Pumps Ltd.
• HSME Corp.
• CIRCOR International Inc.
• Dk-Tech Corporation
• Hangzhou Chuankong General Equipment Co. Ltd.
• Taylor-Wharton International LLC
• ACD LLC
What Are The Key Trends In The Cryogenic Pump Market?
• Advancements in energy storage and transportation technologies
• Technological innovation in cryogenic pump design and efficiency
• Rising adoption of cryogenic pumps in cryopreservation
• Increasing use of cryogenic pumps for hydrogen applications
• Integration of variable frequency drives (VFDS)
What Are The Segments Of The Global Cryogenic Pump Market?
The cryogenic pump market is segmented by several factors, including:
• 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
Which Region Leads The Cryogenic Pump Market?
Asia-Pacific emerged as the largest region in the cryogenic pump market in 2024 and is expected to hold the position of the fastest-growing region in the coming years. Other covered regions in the cryogenic pump market report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Cryogenic Pump Market Global Market Report?
- Market Size Analysis: Analyze the Cryogenic Pump Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Cryogenic Pump Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Cryogenic Pump Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Cryogenic Pump Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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