The global demand for Cryogenic Pump Market is presumed to reach the market size of nearly USD 3.05 MN by 2028 from USD 2.08 MN in 2021 with a CAGR of 5.6% under the study period 2022 - 2028.
Cryogenic pump is a type of vacuum pump that captures gases by condensing them at a very low temperature of about 120 K. Cryogenic pumps are used to handle, transport, and transfer cryogenic fluids, including hydrogen, oxygen, nitrogen, argon, and liquefied hydrocarbons. Cryogenic pumps have an added advantage over high-vaccum pumps or gas transfer pumps. They have a higher pumping speed and are able to condense all the gases within them .
Market Dynamics
The rising deployment of the cryogenic pumps in the electronics, metallurgy, and chemicals industries is expected to rapidly scale up during the forecast period. Besides this, the increase in investment across the power generation sector and the inclination toward electricity production from natural gas and renewable resources to cut carbon footprint are driving the market growth. Moreover, the growing focus on solar power generation and the development of solar PV manufacturing infrastructure create lucrative market opportunities because cryogenic pumps are majorly used in manufacturing solar panels. Along with reviving the steel industry globally, it is also anticipated to drive demand for cryogenic pumps, as cryogenic gases are indispensably used to create durable steel structures. However, high cost and lack of expertise in handling these devices are expected to be major restraints on the cryogenic pumps market's growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of cryogenic pump. The growth and trends of cryogenic pump industry provide a holistic approach to this study.
Market Segmentation
This section of the cryogenic pump market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Orientation
By Design
- Submersible
- Non-Submersible
By Type
- Centrifugal
- Positive Displacement
By Cryogen
- Nitrogen
- Oxygen
- Argon
- Lng
- Helium
- Hydrogen
- Other Cryogens
By End User
- Metallurgy
- Energy & Power
- Chemicals
- Electronics
- Healthcare & Pharmaceuticals
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Cryogenic Pump market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Cryogenic Pump Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cryogenic pump market include AB (Sweden), Ebara Corporation (Japan), SHI Cryogenics Group (Japan), Nikkiso C., Ltd. (Japan), Fives Group (France), Cryostar (France), TRILLIUM FLOW TECHNOLOGIES (Scotland), Gemmecotti Srl (Italy), PHPK Technologies (US), Barber-Nichols (US), Sulzer Ltd (Switzerland), Technex Limited (China), Vanzetti Engineering S.p.A. (Italy), HSR AG (Liechtenstein), Xinxiang Chengde Energy Technology Equipment Co.,Ltd. (China), Ruhrpumpen Group (Mexico), OPTIMEX (France), SEHWA TECH, INC. (South Korea), CS&P Technologies (US), CryoVation LLC. (US), PBS Velká Bíteš (Czech Republic), KRYTEM Cryogenic Systems (Germany), Trillium US (US), Sing Swee Bee Enterprise Pte Ltd. (Singapore), and EOSgen-technologies (France). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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