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Increasing Use Of Industrial Gases Is Driving The Growth Of Cryogenic Transportation Services Market: A Key Catalyst Accelerating Cryogenic Transportation Services Market Growth in 2025
Cryogenic Transportation Services Market
Cryogenic Transportation Services Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been substantial expansion in the market size for cryogenic transportation services. The market, which was valued at $9.35 billion in 2024, is predicted to increase to $10.01 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.1%. Factors such as a surge in demand for biopharmaceuticals, an increase in international trade, tighter government regulations, a rise in the use of medical gases, and expanded industrial applications have all contributed to this historical growth period.
Cryogenic Transportation Services Market Size Forecast: What's the Projected Valuation by 2029?
The market size for cryogenic transportation services is anticipated to witness robust growth in the coming years, reaching $13 billion by 2029 with a compound annual growth rate (CAGR) of 6.8%. This projected growth over the forecasted period can be credited to the expansion of the life sciences and healthcare sectors, the growing food and beverage industry, an increase in LNG export capacity, the development of the healthcare sector, and heightened environmental awareness. The forecast period will likely see major trends such as improved safety protocols, the integration of green energy, developments in logistics solutions, advancements in cold storage tanks, and better transportation solutions.
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What Are the Drivers Transforming the Cryogenic Transportation Services Market?
The rise in the utilization of industrial gases is projected to propel the advancement of the cryogenic transportation services market in the future. The term "industrial gases" pertains to gases manufactured for industrial use, encompassing a vast array of processes and industries. These gases are increasingly in demand due to their critical function in bolstering manufacturing processes, enhancing productivity, and fostering innovation in numerous industries. Cryogenic transportation services are employed by industrial gases to securely and effectively convey gases at incredibly low temperatures, maintaining their liquid form for large-scale distribution. For instance, as stated in a June 2024 report by the Department of Industry, Science, and Resources, an Australian governmental body, the manufacturing sector in Australia used 380 petajoules (PJ) of gas, a 26% portion of the nation's total domestic gas supply, which is a growth in comparison to the consumption of the prior year. Therefore, the mounting utilization of industrial gases is fueling the expansion of the cryogenic transportation services market.
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What Long-Term Trends Will Define the Future of the Cryogenic Transportation Services Market?
Leading firms in the cryogenic transportation services industry are prioritizing the creation of innovative solutions, such as cryogenic multi-use dewars, to bolster efficiency and safety in the carriage of cryogenic fluids. Cryogenic multi-use dewars are unique containers engineered for the secure storage and transit of cryogenic substances, notably liquid nitrogen, at ultra-low temperatures. For example, in April 2024, CSafe, an American company specializing in comprehensive cold chain shipping solutions, unveiled the CGT Cryo Series for cryogenic temperature regulation. This pioneering product features advanced cryogenic technology, exceptional cooling efficiency, and tailor-made settings. With its user-friendly interface, robust build, and energy-saving attributes, it increases its practical use, while built-in safety measures and varied uses render it perfect for transporting crucial CGTs. The series integrates reusable dewars and high-impact-resistant shipping cases, designed to safely manage pre-frozen biological materials, regenerative medicine, immunotherapies, stem cells, and CAR-T cells.
Which Segments in the Cryogenic Transportation Services Market Offer the Most Profit Potential?
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
Subsegments:
1) By Trailer Transportation: Cryogenic Tanker Trailers, Cryogenic Liquid Gas Transport Trailers, Multi-Compartment Cryogenic Trailers, Insulated And Refrigerated Cryogenic Trailers
2) By Truck Transportation: Cryogenic Liquid Gas Trucks, Insulated Cryogenic Trucks, Cryogenic Delivery Trucks For Industrial Gases, Specialized Temperature-Controlled Cryogenic Trucks
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Which Firms Dominate the Cryogenic Transportation Services Market by Market Share and Revenue in 2025?
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
Which Regions Offer the Highest Growth Potential in the Cryogenic Transportation Services Market?
North America was the largest region in the cryogenic transportation services market in 2023. The regions covered in the cryogenic transportation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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