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Cryogenic Equipment Trends and Forecast

The future of the global cryogenic equipment market looks promising with opportunities in the nitrogen, argon, oxygen, LNG, hydrogen markets. The global cryogenic equipment market is expected to reach an estimated $19 billion by 2030 with a CAGR of 5.9% from 2024 to 2030. The major drivers for this market are growing demand for technical gases in various industries, rising investments in LNG power plants, and increasing focus of the government on improvising industrial policies and regulations.
Cryogenic Equipment by Equipment, System Type, and Cryogen

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Cryogenic Equipment by Segments

Cryogenic Equipment by Segment

The study includes a forecast for the global cryogenic equipment by equipment, system type, cryogen, end use, and region.

Cryogenic Equipment Market by Equipment [Shipment Analysis by Value from 2018 to 2030]:

• Tanks
• Valves
• Vaporizers
• Pumps

Cryogenic Equipment Market by System Type [Shipment Analysis by Value from 2018 to 2030]:

• Storage
• Handling
• Supply

Cryogenic Equipment Market by Cryogen [Shipment Analysis by Value from 2018 to 2030]:

• Nitrogen
• Argon
• Oxygen
• LNG
• Hydrogen

Cryogenic Equipment Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Energy
• Chemicals
• Metallurgy
• Transportation

Cryogenic Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cryogenic Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cryogenic equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cryogenic equipment companies profiled in this report include-
• Air Liquide
• Linde
• Praxair
• Messer
• Chart Industries
• Cryogenic Industries
• IHI Corporation
• Chart Ferox
• Chart Energy & Chemicals
• Howden

Cryogenic Equipment Market Insights

  • Lucintel forecasts that tanks will remain the largest segment over the forecast period due to growing need for maintaining gases for multiple essential industrial processes against traditional cooling lubricants.
  • Within this market, LNG will remain the largest segment due to its growing usage in various applications, such as transportation, fueling, storage, and processing.
  • APAC will remain the largest region over the forecast period due to growing demand for LNG and stringent environmental regulations in the region.

Features of the Global Cryogenic Equipment Market

  • Market Size Estimates: Cryogenic equipment market size estimation in terms of value ($B).
  • Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
  • Segmentation Analysis: Cryogenic equipment market size by various segments, such as by equipment, system type, cryogen, end use, and region in terms of value ($B).
  • Regional Analysis: Cryogenic equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different equipments, system types, cryogen, end uses, and regions for the cryogenic equipment market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cryogenic equipment market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the cryogenic equipment market size?
Answer: The global cryogenic equipment market is expected to reach an estimated $19 billion by 2030.
Q2. What is the growth forecast for cryogenic equipment market?
Answer: The global cryogenic equipment market is expected to grow with a CAGR of 5.9% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the cryogenic equipment market?
Answer: The major drivers for this market are growing demand for technical gases in various industries, rising investments in LNG power plants, and increasing focus of the government on improvising industrial policies and regulations.
Q4. What are the major segments for cryogenic equipment market?
Answer: The future of the cryogenic equipment market looks promising with opportunities in the nitrogen, argon, oxygen, LNG, hydrogen markets.
Q5. Who are the key cryogenic equipment market companies?
Answer: Some of the key cryogenic equipment companies are as follows:
• Air Liquide
• Linde
• Praxair
• Messer
• Chart Industries
• Cryogenic Industries
• IHI Corporation
• Chart Ferox
• Chart Energy & Chemicals
• Howden
Q6. Which cryogenic equipment market segment will be the largest in future?
Answer: Lucintel forecasts that tanks will remain the largest segment over the forecast period due to growing need for maintaining gases for multiple essential industrial processes against traditional cooling lubricants.
Q7. In cryogenic equipment market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to growing demand for LNG and stringent environmental regulations in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the cryogenic equipment market by equipment (tanks, valves, vaporizers, and pumps), system type (storage, handling, and supply), cryogen (nitrogen, argon, oxygen, LNG, and hydrogen), end use (energy, chemicals, metallurgy, and transportation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

For any questions related to Cryogenic Equipment Market, Cryogenic Equipment Market Size, Cryogenic Equipment Market Growth, Cryogenic Equipment Market Analysis, Cryogenic Equipment Market Report, Cryogenic Equipment Market Share, Cryogenic Equipment Market Trends, Cryogenic Equipment Market Forecast, Cryogenic Equipment Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents

1. Executive Summary

2. Global Cryogenic Equipment Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges 

3. Market Trends and Forecast Analysis from 2018 to 2030
3.1: Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2: Global Cryogenic Equipment Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Cryogenic Equipment Market by Equipment
3.3.1: Tanks
3.3.2: Valves
3.3.3: Vaporizers
3.3.4: Pumps
3.4: Global Cryogenic Equipment Market by System Type
3.4.1: Storage
3.4.2: Handling
3.4.3: Supply
3.5: Global Cryogenic Equipment Market by Cryogen
3.5.1: Nitrogen
3.5.2: Argon
3.5.3: Oxygen
3.5.4: LNG
3.5.5: Hydrogen
3.6: Global Cryogenic Equipment Market by End Use
3.6.1: Energy
3.6.2: Chemicals
3.6.3: Metallurgy
3.6.4: Transportation

4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Cryogenic Equipment Market by Region
4.2: North American Cryogenic Equipment Market
4.2.1: North American Cryogenic Equipment Market by Cryogen: Nitrogen, Argon, Oxygen, LNG, and Hydrogen
4.3: European Cryogenic Equipment Market
4.3.1: European Cryogenic Equipment Market by Equipment: Tanks, Valves, Vaporizers, and Pumps
4.3.2: European Cryogenic Equipment Market by Cryogen: Nitrogen, Argon, Oxygen, LNG, and Hydrogen
4.4: APAC Cryogenic Equipment Market
4.4.1: APAC Cryogenic Equipment Market by Equipment: Tanks, Valves, Vaporizers, and Pumps
4.4.2: APAC Cryogenic Equipment Market by Cryogen: Nitrogen, Argon, Oxygen, LNG, and Hydrogen
4.5: ROW Cryogenic Equipment Market
4.5.1: ROW Cryogenic Equipment Market by Equipment: Tanks, Valves, Vaporizers, and Pumps
4.5.2: ROW Cryogenic Equipment Market by Cryogen: Nitrogen, Argon, Oxygen, LNG, and Hydrogen

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Cryogenic Equipment Market by Equipment
6.1.2: Growth Opportunities for the Global Cryogenic Equipment Market by System Type
6.1.3: Growth Opportunities for the Global Cryogenic Equipment Market by Cryogen
6.1.4: Growth Opportunities for the Global Cryogenic Equipment Market by End Use
6.1.5: Growth Opportunities for the Global Cryogenic Equipment Market by Region
6.2: Emerging Trends in the Global Cryogenic Equipment Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Cryogenic Equipment Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Cryogenic Equipment Market
6.3.4: Certification and Licensing

7. Company Profiles of Leading Players
7.1: Air Liquide
7.2: Linde
7.3: Praxair
7.4: Messer
7.5: Chart Industries
7.6: Cryogenic Industries
7.7: IHI Corporation
7.8: Chart Ferox
7.9: Chart Energy & Chemicals
7.10: Howden
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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