Press release
Cryogenic Submerged Motor Pumps Market to Surpass US$ 2746.07 Million, Expanding at 3.5% CAGR by 2035: Fact.MR Analysis
Cryogenic Submerged Motor Pumps Market
In 2024, the cryogenic submerged motor pump market demonstrated a consistent recovery in key sectors, fueled by enhanced LNG trade flows, a recovery in industrial gas demand, and phased project resumptions in the petrochemical and gas processing industries.
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Segment-wise Analysis
By Product Type
Centrifugal pumps in the market are anticipated to register a growth of 3.4% CAGR during 2025-2035. Centrifugal pumps lead the market due to their durability, economic cost, and high flow rates, making them perfect for managing high-volume cryogenic fluids in industrial processes. The increase in demand for LNG and industrial gases is anticipated to fuel the demand for centrifugal pumps, especially in energy-driven industries.
By End-use
Power generation will be the most lucrative segment with a CAGR of 3.2% between 2025 and 2035. This is driven by the increasing need for power plant energy efficiency, particularly those targeting liquefied natural gas (LNG) and gas-based generation. With power plants transitioning towards more environmentally friendly fuels, there will be more demand for application-specific pumps to operate with liquefied fuels and handle cryogenic fluids in power generation systems.
By Application
LNG as a market segment is expected to develop at a CAGR of 4.0% between 2025 and 2035. LNG liquefaction, storage, and regasification facilities' demand for pumps will remain strong as LNG trade and consumption are anticipated to grow in the world. High-performance pumps will be required as a result of ongoing technological advancements regarding LNG infrastructures, particularly regarding the growth economies of Asia-Pacific and the Middle East.
Country-wise Insights
In the USA the industry will expand with a CAGR of 3.8% between 2025 and 2035 based on the development in the liquefied natural gas (LNG) market and the sustained need for energy-efficient technology. The USA has a high level of investment in LNG infrastructure, including liquefaction and regasification plants, that fuels demand for cryogenic pumps.
UK sales will be projected to achieve a CAGR of 3.4% between 2025 and 2035, with demand primarily being spurred by the UK's initiatives to reduce carbon emissions and enhance energy transition infrastructure. The UK government's Net Zero 2050 policy is designed to reduce greenhouse gas emissions, influencing the demand for energy-efficient technology like cryogenic pumps in LNG and hydrogen applications.
The nation's focus on clean energy, particularly in LNG infrastructure and hydrogen production, is driving the need for energy-efficient and reliable cryogenic pumps. Germany's energy transition policy, the Energiewende, includes the expansion of renewable energy and natural gas, which directly impacts the demand for cryogenic pumps.
South Korean government emphasis on energy efficiency comes through its Energy Use Rationalization Act by demanding sophisticated cryogenic technology in the production of LNG and hydrogen. The strategic placement in the Asia-Pacific region where the country holds significant energy import/export terminals contributes to the raised expenditure on cryogenic pumps as well.
Competitive Landscape
The cryogenic submerged motor pumps market is still fairly consolidated, with a few international players holding high-value LNG and industrial gas infrastructure contracts. Regional fragmentation continues to exist because of the existence of specialized domestic producers serving localized cryogenic uses.
Top companies are competing increasingly based on innovation and performance optimization, with increased focus on energy efficiency, low-temperature durability of materials, and system longevity. In the emerging markets, price continues to be a competitive driver, while in mature economies, companies are more interested in high-end product engineering, systems integration, and turnkey project delivery.
Geographic expansion and strategic partnerships-focusing especially in Asia-Pacific and the Middle East-continue to be top growth imperatives as LNG and hydrogen infrastructure continues to grow.
Ebara Corporation in January 2024 unveiled the purchase of Cryostar SAS's submerged motor pump division from Linde Group to expand its cryogenic solutions product lineup and enhance its LNG portfolio across Europe and Asia.
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Key Players
ITT Inc.
KSB SE & Co. KGaA
Pentair PLC
Cameron (Schlumberger)
Spx Flow
Emerson Electric Co.
ClydeUnion Pumps (SPX Flow)
Hydro Inc.
Wilo SE
Grundfos
Tuthill Corporation
Dover Corporation
Cryogenic Submerged Motor Pumps Market Segmentation
By Product Type:
Centrifugal Pump
Reciprocating Pump
By End Use:
Power Generation
Oil & Gas
Automotivea
Mining
Others
By Application:
LNG
LPG
Industrial Gases
By Region:
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa
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