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Cryogenic Equipment Market 2022-27: Growth, Outlook, Demand, Keyplayer Analysis
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According to the latest report by IMARC Group, titled, “Cryogenic Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global cryogenic equipment market reached a value of US$ 19.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 27.8 Billion by 2027, exhibiting a CAGR of 6.32% during 2022-2027.
Cryogenic equipment refers to devices that are used to generate, sustain and operate at extremely low temperatures.It comprises cryogenic storage racks, refrigerators, boxes, cold traps, pressure vessels, piping, purifiers, temperature controllers, tanks and accessories. It is used for freezing, cooling, and metal processing and biomedical purposes. Along with this, it also assists in protecting the users from accidental contact with hazardous materials.
Request for a free sample copy of this report: https://www.imarcgroup.com/cryogenic-equipment-market/requestsample
The burgeoning aerospace and aviation industries represent one of the primary factors propelling the global cryogenic equipment market growth. Cryogenic fluids are widely used for cooling jet engines and in-flight components. Apart from this, the increasing utilization of cryogenic equipment in refrigerators, pumps, oil tankers, vaporizers and valves in the oil and gas sector is driving their sales further. Cryogenic equipment is designed for gases, such as oxygen, liquid helium, nitrogen, argon and carbon dioxide, widely used in Liquified Natural Gas (LNG)- based power plants. The equipment also finds extensive applications across various industries, including energy and power, marine and aerospace, food and beverage (F&B), healthcare and chemical, which is boosting the overall market growth.
Breakup by Equipment:
- Heat Exchanger
Breakup by Cryogen:
- Liquified Natural Gas
Breakup by Application:
Breakup by End Use Industry:
- Oil and Gas
- Energy and Power
- Food and Beverages
- Marine and Aerospace
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Some of these key players include:
- Air Liquide S.A.
- Air Products and Chemicals Inc.
- Chart Industries Inc.
- Cryofab Inc.
- Cryoquip LLC (Nikkiso Co. Ltd.)
- Emerson Electric Co.
- Flowserve Corporation
- Herose GmbH
- INOX India Pvt. Ltd
- Linde Plc
- Parker-Hannifin Corporation
- Wessington Cryogenics.
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/cryogenic-equipment-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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