Cryogenic Equipment Global Market is Projected to Reach $22.1 Billion by 2030: Myriad Applications of Cryogenics Presents Growth Opportunities

DUBLIN, June 27, 2023 /PRNewswire/ -- The "Cryogenic Equipment: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Cryogenic Equipment estimated at US$13.1 Billion in the year 2022, is projected to reach a revised size of US$22.1 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2022-2030.

Nitrogen, one of the segments analyzed in the report, is projected to record a 7.6% CAGR and reach US$7.2 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Oxygen segment is readjusted to a revised 5.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $2.6 Billion, While China is Forecast to Grow at 8.6% CAGR

The Cryogenic Equipment market in the U.S. is estimated at US$2.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.1 Billion by the year 2030 trailing a CAGR of 8.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 6.2% respectively over the 2022-2030 period.

Within Europe, Germany is forecast to grow at approximately 5.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.9 Billion by the year 2030.

Select Competitors (Total 92 Featured) -

• Acme Cryogenics
• Air Products
• Chart Industries
• Cryo Pur
• Cryofab Inc
• Cryogenic Systems Equipment, Inc.
• Cryoquip LLC
• Cryostar SAS
• Emerson Electric Co.
• Fives Cryo
• Flowserve Corporation
• Herose GmbH
• INOXCVA
• Linde plc
• Parker Hannifin Corporation
• PHPK Technologies
• SHI Cryogenics Group
• Sulzer Ltd
• Taylor Wharton
• Wessington Cryogenics

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• Impact of Covid-19 and a Looming Global Recession
• Escalating Oxygen Demand from Hospitals amid COVID-19 Provide Relief to Cryogenic Equipment Providers
• Cryogenic Containers to Aid Mammoth Mission of COVID-19 Vaccine Distribution
• Contact Protection for Medical Staff during COVID-19 Vaccine Administration Creates Need for Cryogenic PPE
• Cryogenic Equipment - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• A Prelude to Cryogenic Equipment
• Global Market Prospects and Outlook
• Steadfast Demand for Liquid & Medical Gases to Drive the Cryogenic Equipment Market Post COVID-19 Pandemic
• Global Cryogenic Equipment Market: Prominent Drivers & Restraints
• Cryogenic Tanks Reign Supreme in Cryogenic Equipment Market
• Liquid Nitrogen Emerges as the Leading Segment
• LNG Segment to Witness the Fastest Growth
• Asia-Pacific Dominates the Cryogenic Equipment Market
• Energy and Power Sector to Dominate the Cryogenic Equipment Market
• An Insight into the Use of Cryogenic Equipment in Other Industries
• Metallurgy Industries
• Chemicals
• Automotive and Mechanical Engineering
• Food Industry
• Construction Industry
• Medicine and Pharmaceutics
• Defense Industries and Space Advancements
• Oil and Gas Industry
• Other Industries

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Myriad Applications of Cryogenics Presents Growth Opportunity for Cryogenic Equipment Market
• Growing Role of Cryogenics in Industrial Manufacturing Fosters Growth in Cryogenic Equipment Market
• Metal Processing Industry Emerges as a Major End-Use Market for Cryogenic Equipment
• Global Steel Processing Market Size (in US$ Billion) for the Years 2019, 2022 and 2025
• Widespread Use of Cryogenic Technology for Food Processing and Preservation to Boost Market Prospects
• Cryogrinding
• Preserving Fresh Produce
• Freezing Food
• Global Frozen Food Market Size (in US$ Billion) for the Years 2018, 2021 & 2024
• Rising Importance of Cryogenic Gases for Improving Quality of Foods
• Liquid Nitrogen Takes the Icing on Cakes and Bakes
• Enhancing Shelf Life of Products: A Key Advantage
• Cryogenic Food Freezing Taps Benefits of Liquid Nitrogen Vis-a-vis other Gases
• Helium based Cryogenic Auto-fill Equipment - A Growing Market Segment
• Cryogenic Tanks for Regulating Temperature in Cold Storage Chains
• Rising Demand for LNG Drives Demand for Cryogenic Tanks
• Global Primary Energy Consumption by Source (in %) for 2018 and 2040
• Global Gas Supply Breakdown by Source (in %) for 2019
• Global LNG Imports Breakdown by Region (in %) for 2019
• Shift Towards Renewable Energy Enhances Importance of Cryogenic Energy Storage System, Driving Market Growth
• World Installed Base of Wind Energy (in Megawatts) by Geographic Region: 2018, 2021 & 2024
• Global Solar Power Market: Solar PV Capacity (in GW) and PV Generation (in TWh) for the Years 2017, 2019, 2021 and 2023
• Cryogenics and Superconductivity for Affordable Energy Storage and Generation
• Worldwide Steel Production Trends Impact Cryogenic Tanks Market
• Global Crude Steel Monthly Production (in Million Tonnes) for the Period Jul-2019 to Jul-2020
• With Cryogenics Finding Increased Adoption in Medical Applications, Cryogenic Tanks Market Poised for Growth
• Rising Importance of Cryogenic Tanks for Fast Biological Sample Preservation and Rapid Vaccine Freezing
• Storage and Shipping of COVID-19 Vaccines Drives Efforts to Develop Cryogenic Containers
• COVID-19 Vaccines in Pipeline by Technology and Clinical Stage
• Increasing Role of Cryogenic Equipment in Electronics Industry to Spur Growth
• Growing Demand for Liquid Oxygen to Fuel Growth in Cryogenic Tanks Market
• Surge in Demand for Medical Oxygen Amidst the COVID-19 Pandemic Fuels Market Prospects
• Market to Benefit from Rising Use of Liquid Oxygen in Water Treatment
• Growing Use of Cryogenic Tanks in Space Technology
• Cryogenic Applications for Mars Missions
• Introduction of Newer Technologies in Space Systems Bodes Well for Cryogenic Tanks Market
• Robotic Refueling Mission 3 (RRM3)
• Growing Need for Transportation Tanks for Cryogenic Liquids: A Major Growth Opportunity
• Technological Innovations and Advancements
• CryoHub Innovation Project
• Air Products Showcases Sophisticated Solutions for Cryogenic Food Processing
• HAL Delivers Large-sized Cryogenic Propellant Tank to ISRO
• Using Optimal Control to Cut Energy Consumption & Carbon Emission of Cryogenic Refrigerators
• Hermetic Shield Addresses Parasitic Heating Issues in Cryogen-free Dilution Refrigerators
• Researchers Eye on Cryogenic Energy Storage to Push Renewable Energy Generation and Balance Power Grid
• Cryogenics to Preserve Human Corpse for Probable Revival in Near Future
• Space Odyssey Dream with Exciting Developments in Cryogenic Fluid Management

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/f3nz87

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