Cryogenic Equipment Market By Product, Gas, Application and End User – Global Industry Analysis And Forecast To 2025
Cryogenic Equipment Market By Product (Vacuum Jacketed Piping (VJP), Tank, Pumps & Vaporizers, Valve and Other Products), Gas (Natural Gas, Argon, Nitrogen, Oxygen and Other Gases), Application (Storage and Distribution) and End User (Food & Beverage, Oil & Gas, Power & Energy, Metallurgy and Electronics) – Global Industry Analysis And Forecast To 2025
These equipment’s are utilize for sustain, generating or operating at very low temperatures. The minimum acceptable temperature of the equipment’s is -180 degree Celsius. They have a wide range of applications like pressure vessels, containers, purifiers, cold traps and piping. These equipment’s are generally used in transportation of super-cooled liquids like the oxygen, nitrogen, argon, etc. These equipment’s are have various forms like cryogenics accessories, cryogenic tanks, cryogenic storage racks, cryogenic refrigerators, etc. These equipment’s showcase a wide range of advantages like; they are customizable, high on efficiency, they are resilient & safe, etc. Therefore, the Cryogenic Equipment Market is anticipated to expand and has tremendous scope during the forecast period. The global Cryogenic Equipment Market anticipated to flourish in the future by growing at a significantly higher CAGR.
The global Cryogenic Equipment Market is segmented on the basis of Product, the market is further divided into Vacuum Jacketed Piping (VJP), Tank, Pumps & Vaporizers, Valve and Other Products. The section of Tanks is leading the market as the requirement for transportation of LNG in cargo tanks, the tanks provide various benefits, etc.
On the basis of Gas the market is further divided into Natural Gas, Argon, Nitrogen, Oxygen and Other Gases. The section of Natural Gas is leading the market due to increases in production, rise in the trade of the gas, etc.
On the basis of Application the market is further divided into Storage and Distribution. The storage section is dominating the market owing to increasing demand for stocking, handling, sourcing and transferring of gases in their liquid state like the nitrogen, oxygen, argon & natural gas.
On the basis of End User the market is further divided into Food & Beverage, Oil & Gas, Power & Energy, Metallurgy and Electronics. The section Power & Energy accounted most revenue which was due to increasing investment in the field of power. The Food & Beverage section is also showing significant growth as the process of freezing & chilling is main part of the industry and it will rise due to increasing demand for frozen food.
The Asia Pacific region is leading the global Cryogenic Equipment Market due to factors like; use for storage and distribution of LNG when pipeline is absent, rising investment in the transportation of LNG as a source of fuel & energy, many healthcare facilities in this region are using these equipment for preserving & storing of unique blood groups, etc.
Cryogenic Equipment Market, By Region
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
Beijing Tiahan industry
Chart Industries Inc.
Oxford Instruments Plc.
INOX India Pvt. Ltd.
Air Liquide SA
FIBA Technologies Inc.
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?