Press release
Cryogenic Pump Market to Reach US$ 3.54 Billion by 2031
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Market Overview
Cryogenic pumps, also known as cryopumps, are specialized vacuum pumps used to transfer and pressurize liquefied gases such as nitrogen, oxygen, LNG, hydrogen, and argon. These pumps offer high precision, efficient cooling, and leak-proof designs, ensuring safety and reliability even under extreme temperature conditions. The integration of automated control systems in modern cryogenic pumps has enhanced operational efficiency and monitoring accuracy.
Key Market Drivers
• Rising LNG Demand: With the global push toward clean energy and carbon emission reduction, LNG has become a preferred fuel for industrial and power generation applications. Cryogenic pumps are essential for LNG storage, transport, and handling.
• Expanding Energy Storage Initiatives: Growing investments in cryogenic energy storage (CES) and liquid air energy storage (LAES) systems across the UK, South Korea, and Scotland are creating new growth opportunities.
• Healthcare Sector Growth: Increasing investments in medical gases and cryogenic systems for biotechnology, pharmaceutical manufacturing, and cryosurgery are boosting market demand.
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Regional Insights
The Asia Pacific region dominates the cryogenic pump market, led by major economies such as China, India, Japan, South Korea, and Indonesia. The region's rapid industrialization and strong LNG import capacity drive significant demand. Notably, China imported 79 million tons of LNG in 2024, while India's imports surged by 20% from 2023 to 27 million tons in 2024.
In addition, Asia Pacific's robust semiconductor manufacturing ecosystem in Taiwan, South Korea, and Mainland China further supports cryogenic pump demand due to their use in high-precision cooling and material processing applications.
Market Segmentation
• By Type: Centrifugal, Positive Displacement
• By Design Type: Submersible, Non-Submersible
• By Cryogen: Nitrogen, Argon, Oxygen, LNG, Hydrogen, Helium, Others
• By Industry Vertical: Electronics & Semiconductor, Healthcare & Pharmaceutical, Energy & Power, Metallurgy, Aerospace, Chemical
Recent Developments
• Sulzer Ltd inaugurated a new test and assembly center in Mexico City to expand large pump production capacity in the Americas (March 2025).
• Vanzetti Engineering launched its new ESK-IMO retractable series of submerged pumps, with flow rates up to 500 m3/hr (March 2024).
Key Players
Major companies in the cryogenic pump market include SHI Cryogenics Group, Fives SAS, Cryostar SAS, Ebara Elliott Energy, Nikkiso Co Ltd, Sulzer Ltd, Ruhrpumpen Inc., Vanzetti Engineering S.p.A., CRYOGENIC MACHINERY CORP, and Trillium US Inc.
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Conclusion
The Cryogenic Pump Market is witnessing robust expansion as industries accelerate the shift toward sustainable energy and efficient gas handling systems. With strong regional growth in Asia Pacific and continued investments in LNG and cryogenic energy storage, the market is poised for steady advancement through 2031.
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Contact Person: Ankit Mathur
sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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