Liquefied Gas Pump Market to Witness Exponential Growth by 2026
Since the discovery of gases and their usability, they are employed in major industrial and domestic applications. Extraction or production of gasses take a lot of efforts and precision, over to that transportation and controlling of gasses increases the difficulties. Often gasses are compressed to liquid states in order to achieve ease of transportation and increase usability. Generally liquefied gases possess high pressure and very low temperature, which may range from 20 °C to – 260 °C. Pumping liquefied gasses requires specially designed pumps which should fulfill its purpose and must not change properties of fluid. Also, it should be reliable enough to works at high pressure and lower temperatures for long duration. A liquefied gas pump is a specially designed device which can increase the head level with maintaining constant pressure and temperature to avoid vaporization. Liquefied gas pumps find applications in oil & gas industries, gas filling stations, gas processing units, refrigeration plants, domestic gas supply stations, laboratories, and R&D firms among others.
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The liquefied gas pumps sometimes may be referred as cryopumps when they are operating on liquefied gasses having temperature below – 150 °C. The cryopumps are generally meant for pumping liquefied gasses like liquid hydrogen, liquid nitrogen, liquid oxygen, etc. The cryopumps are mostly involved in gas processing units, refrigeration units and few research and development activities.
Liquefied Gas Pump Market Dynamics
The liquefied gas pump market is generally rely on the demands from gas processing plants and gas filling stations. The liquefied gas pumps are vastly used in gas filling stations used for refueling of automobiles. Hence, increase in production of gas fueled vehicles and extending network of gas filling stations is estimated to drive the liquefied gas pump market. Also, the demand of LPG, CNG, and LNG in domestic activities like cooking, room heating and water heating may also boost up the liquefied gas pump market. Moreover, increasing national and international gas pipeline networks to reduce transportation charges is expected provide leverage to liquefied gas pump market.
Whereas, production and liquefying gases is an expensive task as it needs superior cooling and compression process. Also, high initial & operating cost and lower performance character are some restraints for liquefied gas pump market. Moreover, the risks associated with leakages and volatility of gasses suppress the growth of liquefied gas pump market.
Liquefied Gas Pump Market Segmentation
The Liquefied gas pumps market can segmented into two categories on the basis of technology and on the basis of application. On the basis of technology the liquefied gas pump market can be classified as positive displacement pumps, rotatory pumps and diaphragm pumps. On the basis of application area the liquefied gas pump market can be segmented as gas processing units, automotive filling stations, and residential gas supply.
Liquefied Gas Pump Market: Region-wise Outlook
Depending on geographic regions, the global liquefied gas pump market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Middle East & Africa (MEA), and Japan. The MEA and North America are estimated to lead the market due to higher oil and gas exploration activities. Also nations such as U.S., Russia, and China are estimated to remain dominant in liquefied gas pump market due to larger dependency on gases. Whereas, developing oil & gas piping network in developing nations across Asia Pacific is expected to offer higher growth rates in the forecast period.
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Liquefied Gas Pump Market: Key Players
The liquefied gas pump market is majorly dominated by local manufacturers. Although some key players catering superior technology and services includes Sulzer Ltd, Global Teikoku Group, Apollo Goessnitz GmbH (HMS Group), Smith Precision Pumps, Fristam Pumps USA, PSG (Dover Corp.), Moret Industries Group, Pulsafeeder Engineered Products, Ebara Corporation, Renroc Group, KSB Aktiengesellschaft, EDUR Pumpenfabrik Eduard Redlien GmbH & Co. KG.
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