The cryogenic equipment market is projected to grow at a CAGR of 6.74% from 2016 to 2021 to reach USD 22.42 Billion by 2021. Increasing demand for LNG and improving healthcare services, especially in the developing economies are the major factors driving the market.
Asia-Pacific is currently the largest market for cryogenic equipment, and the market in the Middle East is projected to grow at the highest CAGR during the forecast period. China accounted for the majority share in Asia-Pacific in 2015. In Asia-Pacific, the growth of the cryogenic equipment market can be attributed to factors such as increasing investments in the energy sector and substantial growth in other end-user industries such as food & beverage, healthcare, and electronics among others in this region. The figure given below shows the regional scenario of the cryogenic equipment market from 2016 to 2021.
The demand for cryogenic equipment can be directly linked to the LNG demand. The demand for cryogenic equipment is also driven by improving healthcare services, especially in the developing economies.
- Air Liquide
- Beijing Tianhai Industry Co., Ltd.
- Chart Industries Inc.
- Cryofab Inc.
- Cryoquip LLC.
- Flowserve Corporation
- Graham Partners
- Herose GmbH
- INOX India Ltd.
- Linde Group AG
- Parker Hannifin
- Taylor-Wharton International LLC.
- VRV S.P.A
- Wessington Cryogenics Ltd.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Cryogenic Equipment Market, By Product Type
7 Cryogenic Equipment Market, By Cryogen Type
8 Cryogenic Equipment Market, By End-User
9 Cryogenic Equipment Market, By Region
10 Competitive Landscape
11 Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/g3t7cx/cryogenic
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SOURCE Research and Markets