Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), Cryogen (Nitrogen, Argon, Oxygen, LNG, Hydrogen), End-User (Energy, Chemicals, Metallurgy, Transportation), System Type (Storage, Handling, Supply) & Region - Global forecast to 2027
[264 Pages Report] The global cryogenic equipment market is projected to reach USD 17.4 billion by 2027 from an estimated market size of USD 12.5 billion in 2022, at a CAGR of 6.8% during the forecast period. The factors driving the growth for cryogenic equipment market are high demand for industrial gases from metallurgy, and energy & power industries and growing demand for cryogenic equipment across entire LNG value chain.
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COVID-19 Impact on the Cryogenic equipment Market
The outbreak of the COVID-19 pandemic has had an adverse effect on the global economy as the governments were forced to implement lockdown measures to prevent the spread of the virus. The effects of the COVID-19 pandemic, including actions taken by businesses and governments to contain the spread of the virus, have resulted in a significant and swift reduction in operations across various industries such as manufacturing, energy & power, automotive and IT, among others. As of March 10, 2022, 220 countries had been impacted by the pandemic, and the governments of individual countries had ordered nationwide lockdowns and curfews to contain the spread of the virus, during the initial phase of the pandemic. This resulted in a considerable decline in transportation and related activities, which further had a negative impact on the oil & gas industry, and consequently on the demand for cryogenic equipment. However, these lockdowns have been lifted owing to the recent decline in the number of cases and the development of respective vaccines. These events together had caused major disruptions across the entire value chain of various industries, consequently hindering the demand for cryogenic equipment. On the contrary, cryogenic equipment played a crucial role in the healthcare industry during the pandemic and showcased a high demand. Oxygen, primarily used as a gas in the healthcare industry, is typically stored as a liquid. Liquid oxygen therapy became a vital procedure to treat the infected patients during the pandemic. Owing to this absolute requirement, the demand for cryogenic containers and tanks witnessed a spike, to a point where there was not enough supply of these equipment to accommodate the demand. On the other hand, the manufacturers of these equipment were forced to stop or reduce the production due to the imposed complete or partial lockdowns. Thus, the supply shortage of cryogenic equipment had caused major disruptions in the healthcare industry, especially in developing economies such as India.
Cryogenic Equipment Market Dynamics
Driver: Growing demand for cryogenic equipment across the entire LNG value chain
2020 was an unprecedented year for the LNG market. Even before the COVID-19 pandemic, the LNG market was set for oversupply in 2020 and 2021 as new projects continued to grow capacity well beyond steady demand growth. Reduced gas demand because of the pandemic has added to excess supply, creating market volatility. However, LNG is set for stronger growth, as domestic supply in key gas markets will not keep up with demand growth. As per McKinsey's global gas outlook to 2050, the demand for LNG is expected to grow 3.4% per annum to 2035, with ~100 million metric tons of additional capacity required to meet both demand growth and decline from existing projects.
According to International Gas Union (IGU), in 2020, the global LNG trade had increased to 356.1 MT, a small increase of 1.4 MT from 2019, despite the ongoing pandemic and this has further increase by 6% in 2021 from 2020, a sharp acceleration compared to the growth from 2019 to 2020 of just 1%. Further, 35 new vessels were added to the LNG shipping fleet, making it a total of 572 vessels at the end of 2020. In addition, the total of 7.2 MTPA global operational liquefaction capacity, as of January 2021 has increased to 8.7 MTPA by the end of 2021, signifying the growth in the LNG market. Also, according to Gas Exporting Countries Forums survey, by 2030, the LNG bunker fuel share is expected to reach 13% of the overall bunker fuel market, which is currently around 35%. These developments across the value chain of the LNG market demand the use of cryogenic systems for storage, handling and transport of LNG, thus driving the demand for cryogenic equipment.
Restraint: Involvement of high CAPEX and OPEX costs with cryogenic plants
Due to the usage of high specialty materials for the construction of cryogenic equipment and the high energy costs associated with the maintenance of temperatures, the overall cost of the cryogenic plant becomes very high. According to the US Department of the Interior (DOI), the initial CAPEX associated with cryogenic plant infrastructure setup is estimated to be around USD 300 million.
Cryogenic air separation is a mature technology and is ideal for high volumetric flow rates. Pressure Swing Adsorption (PSA) is a cheaper technological substitute and is suitable for small scale industrial gas usage. Cryogenic plants are restricted for the applications requiring the gases in high quantities of above several hundred tons of the separated gases per day. Cryogenic air separation technology is widely used for oxygen and nitrogen production in large quantities of around 5,000 tons per day. The second method is PSA, which is appropriate for smaller quantities of nitrogen and oxygen of below 500 tons per day. Also, the operational cost of nitrogen cryogen plants is 40% higher than that of the PSA plants. The agriculture and fertilizer industries require liquid nitrogen at both small and large scales. In such conditions, the cost of storing and transporting liquefied industrial gases is high. Thus, the high CAPEX & OPEX associated with cryogenic plants affect the growth of the cryogenic equipment market.
Opportunities: Growing space and satellite missions bring opportunities for cryogenic storage equipment
Cryogenic equipment are used for storing and handling of space specimen. Due to the inert nature of cryogenic industrial gases, the characteristics of asteroids specimen remain intact. Cryogenic fluid is an essential usable for space missions. The space cryogenics applications fall into two broad categories, which include supporting space science missions and supporting the space transportation infrastructure. Cryogenic gases are also useful for satellite operations. These can serve as a coolant to keep spacecraft equipment operational. Also, these gases are able to extend the lifespan of satellite instruments, if used to refill a satellite.
As economies strive for enhancing their space reach, there is an increasing number of space missions for Mars, moon, and satellite launching. According to the American Institute of Physics, NASA is expected to raise its funding for space operations in 2020. In February 2020, NASA awarded a contract to SpaceX for the launch of a mission to a large metallic asteroid, on the companys Falcon Heavy rocket. The contract was valued at USD 117 million, which includes the launch and other mission-related costs.
Satellites is another major investment-lucrative sector. As the demand for real-time data and information increases, satellite operators intend to increase the number of satellites to provide low-cost internet to remote locations. In 2019, Amazon announced Project Kuiper for accomplishing the companys plans to launch a group of 3,236 satellites into low Earth orbit in order to provide internet to isolated communities. SpaceX plans to launch 12,000 satellites for providing low-cost internet. Such projects will create demand opportunities for cryogenic equipment.
Challenges: Cryogen leakage from equipment leading to hazards and greenhouse emissions
A major challenge faced by equipment manufacturers is cryogen leakage and losses. As the number of modular cryogenic processing plants rise, the threat of greenhouse emissions and cryogen leakages also increases. Even after proper and periodic checks, the equipment may fail to prevent the leakage or discharge cryogen into the atmosphere. These cryogens are not environment friendly, and if released in a closed area, they can lead to oxygen deficiency in the region. Prolonged exposure to cryogen can cause frostbite and damage to the lungs. 62% of leakage accidents are during the normal course of work, while the rest are observed to take place during maintenance. According to the US EPA, major emissions from cryogenic equipment are due to leakages and compressor venting. The manufacturers must use better leak detection equipment for sensing any leakage or emission during operations, so that appropriate actions could be taken on time.
The tank segment is expected to be the largest segment of the cryogenic equipment market, by equipment, during the forecast period
The cryogenic equipment market, by equipment, is segmented into tanks, valves, vaporizers, pumps and others. Other equipment include pipes, regulators, freezers, dewar, strainers, samplers, heat exchangers, leak detection equipment, dispensers, and accessories (manifolds, fittings, vacuum jacketed/insulated piping, hoses, connections). The tanks is estimated to have the largest market share. Increasing LNG production and high demand for industrial gases is expected to drive the equipment segment, which consequently increases the demand for cryogenic equipment.
The LNG segment is expected to be the largest segment of the cryogenic equipment market, by cryogen, during the forecast period
The cryogenic equipment market, by cryogen, is segmented into nitrogen, argon, oxygen, LNG, hydrogen, and others. Other cryogenic gases include helium, nitrous oxide, ethylene, and carbon dioxide. LNG segment holds the largest share in the cryogenic equipment market, followed by Nitrogen. Rising demand for hydrogen fuel cells and cleaner energy is expected to drive the cryogen segment of the cryogenic equipment market during the forecast period.
The storage system is expected to be the largest contributor to the cryogenic equipment market, by system type, during the forecast period
The cryogenic equipment market, by system type, is segmented, into storage system, handling system, supply system, and others. The storage system segment is expected to hold the largest share of the market and is also expected to grow with the highest CAGR of 7.5% during the forecast period. Government investments in gas generation and growing applications in aerospace industry is expected to drive the demand for cryogenic equipment.
The metallurgy is expected to be the largest contributor to the cryogenic equipment market, by well type, during the forecast period
The cryogenic equipment market, by end-user, is segmented into metallurgy, energy & power, chemical, electronics, transportation, and others. Other end-users include healthcare, aerospace, and food & beverages (F&B) industries. Metallurgy is expected to hold the largest market share in 2021 and have highest growth rate in the forecast period. The growing energy & oil demands and technological advancements is expected to drive the segment in the forecast period.
Asia Pacific is expected to dominate the global cryogenic equipment market
The Asia Pacific region is estimated to be the largest market for the cryogenic equipment market, followed by north America. The Asia Pacific region is projected to be the fastest-growing market during the forecast period. The growth of the North American cryogenic equipment market is expected to be driven by increasing E&P activities concerned with clean energy revolution.
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Key Market Players
The major players in the cryogenic equipment market are Linde plc (Ireland), Air Liquide (France), Air Products Inc (US), Chart Industries (Georgia) and PARKER HANNIFIN CORP (US). Between 2018 and 2021, the companies adopted growth strategies such as contracts & agreements, investments & expansions, partnerships, collaborations, alliances & joint ventures to capture a larger share of the cryogenic equipment market.
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|
Report Metric |
Details |
|
Market size available for years |
20202027 |
|
Base year considered |
2021 |
|
Forecast period |
20222027 |
|
Forecast units |
USD 17,364 million |
|
Segments covered |
Equipment, Cryogen, System Type, End-User And Region |
|
Geographies covered |
North America, Europe, Asia Pacific, Middle East, Africa and South America |
|
Companies covered |
Linde plc (Ireland), Air Liquide (France), Air Products Inc (US), Chart Industries (Georgia) and PARKER HANNIFIN CORP (US), Flowserve Corporation (US), SHI Cryogenics Group (Japan), Emerson Electric Co. (US), Sulzer Ltd (Switzerland), Nikkiso Co. (Japan), Taylor-Wharton. (Japan), Wessington Cryogenics (Tyne & Wear), PHPK Technologies (US), INOX India Pvt Ltd (India), Acme Cryo (US), Fives SAS (France), Cryofab (US), Shell-n-Tube (India), Beijing Tianhai Cryogenic Equipment Co., Ltd. (China), Herose GmbH (Germany) |
This research report categorizes the cryogenic equipments market by equipment, cryogen, system type, end-user and region.
On the basis of by equipment, the market has been segmented as follows:
- Tanks
- Valves
- Vaporizers
- Pumps
- Other Equipment
On the basis of by cryogen, the market has been segmented as follows:
- Nitrogen
- Oxygen
- Argon
- LNG
- Hydrogen
- Other Cryogen
On the basis of by system type, the market has been segmented as follows:
- Storage System
- Handling System
- Supply Systems
- Others
On the basis of by end-user, the market has been segmented as follows:
- Energy & Power
- Chemical
- Metallurgy
- Electronics
- Transportation
- Other End-Use Industries
On the basis of region, the market has been segmented as follows:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
Recent Developments
- In February 2022, Linde plc signed an agreement with BASF. Under this contract, Linde plc will supply steam and hydrogen to BASF.
- In January 2022, Linde plc signed an agreement with Yara to construct and deliver a 24 MW green hydrogen plant.
- In February 2022, Air Liquide partnered with Airbus, Korean Air and Incheon to develop the first hydrogen usage roadmap at and around Incheon airport and support the development of hydrogen ecosystem.
- In December 2021, Chart Industries collaborated with Howden to deliver advanced hydrogen solution and also incorporate gas compression system of Howden into offerings of chart Industries.
Frequently Asked Questions (FAQ):
What is the current size of the cryogenic equipment market?
The current market size of global cryogenic equipment market is USD 11.8 billion in 2021.
What is the major drivers for the cryogenic equipment market?
The factors driving the growth for cryogenic equipment market are the high demand for industrial gases from the metallurgy, and energy & power industries and growing demand for cryogenic equipment across the entire LNG value chain .
Which is the fastest-growing region during the forecasted period in cryogenic equipment market?
Asia Pacific region is expected to grow at the highest CAGR during the forecast period because of the increased adoption of LNG, owing to the sustainability concerns.
Which is the fastest-growing segment, by end-user during the forecasted period in cryogenic equipment market?
The metallurgy segment is estimated to have the largest market share during the forecast period. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 35)
1.1 STUDY OBJECTIVES
1.2 DEFINITION AND SCOPE
1.2.1 CRYOGENIC EQUIPMENT MARKET: INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATION
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 40)
2.1 RESEARCH DATA
FIGURE 1 CRYOGENIC EQUIPMENT MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primaries
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 3 DATA TRIANGULATION METHODOLOGY
2.3 MARKET SIZE ESTIMATION
2.3.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
2.3.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
2.4 IDEAL DEMAND-SIDE ANALYSIS
2.4.1 DEMAND-SIDE METRICS
FIGURE 6 MAIN METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR CRYOGENIC EQUIPMENT
2.4.2 ASSUMPTIONS FOR DEMAND-SIDE ANALYSIS
2.5 SUPPLY-SIDE ANALYSIS
FIGURE 7 KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF CRYOGENIC EQUIPMENT MARKET
FIGURE 8 CRYOGENIC EQUIPMENT MARKET: SUPPLY-SIDE ANALYSIS
2.5.1 CALCULATIONS FOR SUPPLY SIDE
2.5.2 ASSUMPTIONS FOR SUPPLY SIDE
FIGURE 9 MARKET SHARE ANALYSIS, 2021
2.6 FORECAST
3 EXECUTIVE SUMMARY (Page No. - 52)
TABLE 1 CRYOGENIC EQUIPMENT MARKET SNAPSHOT
FIGURE 10 TANKS SEGMENT IS EXPECTED TO DOMINATE CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, DURING FORECAST PERIOD
FIGURE 11 LNG SEGMENT IS EXPECTED TO WITNESS THE HIGHT GROWTH, DURING FORECAST PERIOD
FIGURE 12 METALLURGY SEGMENT IS EXPECTED TO HOLD LARGEST SIZE OF CRYOGENIC EQUIPMENT MARKET, BY END USER, DURING FORECAST PERIOD
FIGURE 13 STORAGE SYSTEM SEGMENT IS EXPECTED TO DOMINATE CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, DURING FORECAST PERIOD
FIGURE 14 ASIA PACIFIC DOMINATED CRYOGENIC EQUIPMENT MARKET IN 2021
4 PREMIUM INSIGHTS (Page No. - 57)
4.1 ATTRACTIVE OPPORTUNITIES IN CRYOGENIC EQUIPMENT MARKET
FIGURE 15 GROWTH IN DEMAND FOR CRYOGENIC EQUIPMENT ACROSS ENTIRE LNG VALUE CHAIN IS EXPECTED TO DRIVE CRYOGENIC EQUIPMENT MARKET DURING 20222027
4.2 CRYOGENIC EQUIPMENT MARKET, BY REGION
FIGURE 16 CRYOGENIC EQUIPMENT MARKET TO WITNESS HIGHEST GROWTH IN ASIA PACIFIC DURING FORECAST PERIOD
4.3 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT
FIGURE 17 TANK SEGMENT DOMINATED CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, IN 2021
4.4 CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN
FIGURE 18 NITROGEN SEGMENT DOMINATED CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, IN 2021
4.5 CRYOGENIC EQUIPMENT MARKET, BY END USER
FIGURE 19 METALLURGY SEGMENT HELD LARGEST SHARE OF CRYOGENIC EQUIPMENT MARKET, BY END USER, IN 2021
4.6 CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE
FIGURE 20 STORAGE SYSTEM SEGMENT DOMINATED CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, IN 2021
4.7 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY END USER & COUNTRY
FIGURE 21 METALLURGY & CHINA SEGMENTS DOMINATED CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY END USER & COUNTRY, RESPECTIVELY, IN 2021
5 MARKET OVERVIEW (Page No. - 62)
5.1 INTRODUCTION
5.2 COVID-19 HEALTH ASSESSMENT
FIGURE 22 COVID-19 GLOBAL PROPAGATION
FIGURE 23 COVID-19 PROPAGATION IN SELECT COUNTRIES
5.3 COVID-19 ECONOMIC ASSESSMENT
FIGURE 24 REVISED GDP FORECASTS FOR SELECT G20 COUNTRIES IN 2020
5.4 MARKET DYNAMICS
FIGURE 25 CRYOGENIC EQUIPMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.4.1 DRIVERS
5.4.1.1 High demand for industrial gases from metallurgy and energy & power industries
FIGURE 26 CRUDE STEEL PRODUCTION, 20192020
FIGURE 27 GLOBAL OIL DEMAND, 20192026
TABLE 2 GLOBAL OIL DEMAND (OECD VS NON-OECD), 20192026
5.4.1.2 Growing demand for cryogenic equipment across entire LNG value chain
5.4.2 RESTRAINTS
5.4.2.1 High CAPEX and OPEX costs associated with cryogenic plants
5.4.2.2 Volatile raw material prices and competition from gray market players
FIGURE 28 IRON ORE PRICE, 20212022
5.4.3 OPPORTUNITIES
5.4.3.1 Growing use of cryogenic equipment in space and satellite applications
5.4.3.2 Evolving cryogenic electronics applications
5.4.3.3 Transition toward renewable energy and increasing awareness of cryogenic energy storage systems
5.4.4 CHALLENGES
5.4.4.1 Cryogen leakage from equipment leading to hazards and greenhouse emissions
5.5 COVID-19 IMPACT
5.6 INNOVATIONS & PATENT REGISTRATION
5.7 TECHNOLOGY ANALYSIS
5.8 CRYOGENIC EQUIPMENT MARKET: REGULATIONS
5.9 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS BUSINESSES
5.9.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN CRYOGENIC EQUIPMENT MARKET
FIGURE 29 REVENUE SHIFT OF CRYOGENIC EQUIPMENT PROVIDERS
5.10 SUPPLY CHAIN ANALYSIS
FIGURE 30 CRYOGENIC EQUIPMENT MARKET: SUPPLY CHAIN ANALYSIS
5.10.1 CRYOGENIC EQUIPMENT RAW MATERIAL SUPPLIERS
5.10.2 CRYOGENIC EQUIPMENT MANUFACTURERS
5.10.3 INDUSTRIAL GAS MANUFACTURERS
5.10.4 END USERS
5.11 ECOSYSTEM/MARKET MAP
TABLE 3 CRYOGENIC EQUIPMENT MARKET: ECOSYSTEM
5.12 AVERAGE PRICING ANALYSIS
TABLE 4 CRYOGENIC EQUIPMENT: AVERAGE PRICING ANALYSIS
5.13 KEY CONFERENCES & EVENTS TO BE HELD DURING 20222023
TABLE 5 CRYOGENIC EQUIPMENT MARKET: LIST OF CONFERENCES & EVENTS
5.14 CRYOGENIC EQUIPMENT MARKET: REGULATIONS
5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 6 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 7 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 8 GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.15 PORTERS FIVE FORCES ANALYSIS
FIGURE 31 CRYOGENIC EQUIPMENT MARKET: PORTERS FIVE FORCES ANALYSIS
TABLE 9 CRYOGENIC EQUIPMENT MARKET: PORTERS FIVE FORCES ANALYSIS
5.15.1 THREAT OF NEW ENTRANTS
5.15.2 BARGAINING POWER OF SUPPLIERS
5.15.3 BARGAINING POWER OF BUYERS
5.15.4 THREAT OF SUBSTITUTES
5.15.5 DEGREE OF COMPETITION
5.16 CASE STUDY ANALYSIS
5.16.1 AFCRYOS IMPACTFUL SOLUTION TO HELP PHARMA CLIENT ACHIEVE OPERATIONAL EFFICIENCY
5.17 KEY STAKEHOLDERS & BUYING CRITERIA
5.17.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 32 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR 3 END-USER INDUSTRIES
TABLE 10 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR 3 END-USER INDUSTRIES (%)
5.17.2 BUYING CRITERIA
FIGURE 33 KEY BUYING CRITERIA FOR 3 END-USER INDUSTRIES
TABLE 11 KEY BUYING CRITERIA FOR 3 END-USER INDUSTRIES
5.18 FEW DEVELOPMENTS: DISPENSING STATIONS, 20212022
TABLE 12 FEW DEVELOPMENTS: DISPENSING STATIONS
6 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT (Page No. - 87)
6.1 INTRODUCTION
FIGURE 34 CRYOGENIC EQUIPMENT MARKET SHARE, BY EQUIPMENT, 2021
TABLE 13 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 14 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 20202027 (USD MILLION)
TABLE 15 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 20162019 (THOUSAND UNITS)
TABLE 16 CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 20202027 (THOUSAND UNITS)
6.2 TANKS
6.2.1 INCREASING LNG PRODUCTION IS FUELING DEMAND FOR TANKS
TABLE 17 CRYOGENIC EQUIPMENT MARKET FOR TANKS, BY REGION, 20162019 (USD MILLION)
TABLE 18 CRYOGENIC EQUIPMENT MARKET FOR TANKS, BY REGION, 20202027 (USD MILLION)
6.3 VALVES
6.3.1 HIGH DEMAND FOR INDUSTRIAL GASES FROM AEROSPACE AND ELECTRONICS SECTORS IS LIKELY TO BOOST MARKET
TABLE 19 CRYOGENIC EQUIPMENT MARKET FOR VALVES, BY REGION, 20162019 (USD MILLION)
TABLE 20 CRYOGENIC EQUIPMENT MARKET FOR VALVES, BY REGION, 20202027 (USD MILLION)
6.4 VAPORIZERS
6.4.1 DEMAND FOR VAPORIZERS INCREASES WITH INDUSTRIAL GASES CONSUMPTION ACROSS END-USE INDUSTRIES
TABLE 21 CRYOGENIC EQUIPMENT MARKET FOR VAPORIZERS, BY REGION, 20162019 (USD MILLION)
TABLE 22 CRYOGENIC EQUIPMENT MARKET FOR VAPORIZERS, BY REGION, 20202027 (USD MILLION)
6.5 PUMPS
6.5.1 INCREASING DEMAND FOR LNG INFRASTRUCTURE IS EXPECTED TO DRIVE DEMAND FOR CRYOGENIC PUMPS
TABLE 23 CRYOGENIC EQUIPMENT MARKET FOR PUMPS, BY REGION, 20162019 (USD MILLION)
TABLE 24 CRYOGENIC EQUIPMENT MARKET FOR PUMPS, BY REGION, 20202027 (USD MILLION)
6.6 OTHER EQUIPMENT
TABLE 25 CRYOGENIC EQUIPMENT MARKET FOR OTHER EQUIPMENT, BY REGION, 20162019 (USD MILLION)
TABLE 26 CRYOGENIC EQUIPMENT MARKET FOR OTHER EQUIPMENT, BY REGION, 20202027 (USD MILLION)
7 CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN (Page No. - 96)
7.1 INTRODUCTION
FIGURE 35 CRYOGENIC EQUIPMENT MARKET SHARE, BY CRYOGEN, 2021
TABLE 27 CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 28 CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 20202027 (USD MILLION)
7.2 NITROGEN
7.2.1 INCREASING UTILIZATION OF NITROGEN IN ENERGY AND POWER INDUSTRY HAS INCREASED DEMAND FOR NITROGEN-RELATED CRYOGENIC EQUIPMENT
TABLE 29 CRYOGENIC EQUIPMENT MARKET FOR NITROGEN, BY REGION, 20162019 (USD MILLION)
TABLE 30 CRYOGENIC EQUIPMENT MARKET FOR NITROGEN, BY REGION, 20202027 (USD MILLION)
TABLE 31 CRYOGENIC EQUIPMENT MARKET FOR NITROGEN, BY END USER, 20162019 (USD MILLION)
TABLE 32 CRYOGENIC EQUIPMENT MARKET FOR NITROGEN, BY END USER, 20202027 (USD MILLION)
7.3 ARGON
7.3.1 DEMAND FOR ARGON-HANDLING CRYOGENIC EQUIPMENT INCREASES WITH DEMAND FOR ELECTRONICS
TABLE 33 CRYOGENIC EQUIPMENT MARKET FOR ARGON, BY REGION, 20162019 (USD MILLION)
TABLE 34 CRYOGENIC EQUIPMENT MARKET FOR ARGON, BY REGION, 20202027 (USD MILLION)
TABLE 35 CRYOGENIC EQUIPMENT MARKET FOR ARGON, BY END USER, 20162019 (USD MILLION)
TABLE 36 CRYOGENIC EQUIPMENT MARKET FOR ARGON, BY END USER, 20202027 (USD MILLION)
7.4 OXYGEN
7.4.1 INCREASING STEEL AND IRON PRODUCTION CREATES HIGH DEMAND FOR OXYGEN-RELATED CRYOGENIC EQUIPMENT
TABLE 37 CRYOGENIC EQUIPMENT MARKET FOR OXYGEN, BY REGION, 20162019 (USD MILLION)
TABLE 38 CRYOGENIC EQUIPMENT MARKET FOR OXYGEN, BY REGION, 20202027 (USD MILLION)
TABLE 39 CRYOGENIC EQUIPMENT MARKET FOR OXYGEN, BY END USER, 20162019 (USD MILLION)
TABLE 40 CRYOGENIC EQUIPMENT MARKET FOR OXYGEN, BY END USER, 20202027 (USD MILLION)
7.5 LNG
7.5.1 RISING DEMAND FOR CLEANER ENERGY FOSTERS LNG INFRASTRUCTURE DEVELOPMENT
TABLE 41 CRYOGENIC EQUIPMENT MARKET FOR LNG, BY REGION, 20162019 (USD MILLION)
TABLE 42 CRYOGENIC EQUIPMENT MARKET FOR LNG, BY REGION, 20202027 (USD MILLION)
TABLE 43 CRYOGENIC EQUIPMENT MARKET FOR LNG, BY END USER, 20162019 (USD MILLION)
TABLE 44 CRYOGENIC EQUIPMENT MARKET FOR LNG, BY END USER, 20202027 (USD MILLION)
7.6 HYDROGEN
7.6.1 RISING DEMAND FOR HYDROGEN FUEL CELLS FOR TRANSPORTATION AND ENERGY APPLICATIONS IS EXPECTED TO FUEL MARKET GROWTH
TABLE 45 CRYOGENIC EQUIPMENT MARKET FOR HYDROGEN, BY REGION, 20162019 (USD MILLION)
TABLE 46 CRYOGENIC EQUIPMENT MARKET FOR HYDROGEN, BY REGION, 20202027 (USD MILLION)
TABLE 47 CRYOGENIC EQUIPMENT MARKET FOR HYDROGEN, BY END USER, 20162019 (USD MILLION)
TABLE 48 CRYOGENIC EQUIPMENT MARKET FOR HYDROGEN, BY END USER, 20202027 (USD MILLION)
7.7 OTHER CRYOGENS
TABLE 49 CRYOGENIC EQUIPMENT MARKET FOR OTHER CRYOGENS, BY REGION, 20162019 (USD MILLION)
TABLE 50 CRYOGENIC EQUIPMENT MARKET FOR OTHER CRYOGENS, BY REGION, 20202027 (USD MILLION)
TABLE 51 CRYOGENIC EQUIPMENT MARKET FOR OTHER CRYOGENS, BY END USER, 20162019 (USD MILLION)
TABLE 52 CRYOGENIC EQUIPMENT MARKET FOR OTHER CRYOGENS, BY END USER, 20202027 (USD MILLION)
8 CRYOGENIC EQUIPMENT MARKET, BY END USER (Page No. - 111)
8.1 INTRODUCTION
FIGURE 36 CRYOGENIC EQUIPMENT MARKET, BY END USER, 2021
TABLE 53 CRYOGENIC EQUIPMENT MARKET, BY END USER, 20162019 (USD MILLION)
TABLE 54 CRYOGENIC EQUIPMENT MARKET, BY END USER, 20202027 (USD MILLION)
8.2 METALLURGY
8.2.1 GROWTH OF MANUFACTURING AND INDUSTRIAL SECTORS IS DRIVING MARKET GROWTH
TABLE 55 CRYOGENIC EQUIPMENT MARKET FOR METALLURGY, BY REGION, 20162019 (USD MILLION)
TABLE 56 CRYOGENIC EQUIPMENT MARKET FOR METALLURGY, BY REGION, 20202027 (USD MILLION)
TABLE 57 CRYOGENIC EQUIPMENT MARKET FOR METALLURGY, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 58 CRYOGENIC EQUIPMENT MARKET FOR METALLURGY, BY CRYOGEN, 20202027 (USD MILLION)
8.3 ENERGY & POWER
8.3.1 EXPANDING LNG MARKET TO AUGMENT DEMAND FOR CRYOGENIC EQUIPMENT
TABLE 59 CRYOGENIC EQUIPMENT MARKET FOR ENERGY & POWER, BY REGION, 20162019 (USD MILLION)
TABLE 60 CRYOGENIC EQUIPMENT MARKET FOR ENERGY & POWER, BY REGION, 20202027 (USD MILLION)
TABLE 61 CRYOGENIC EQUIPMENT MARKET FOR ENERGY & POWER, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 62 CRYOGENIC EQUIPMENT MARKET FOR ENERGY & POWER, BY CRYOGEN, 20202027 (USD MILLION)
8.4 CHEMICAL
8.4.1 CHEMICAL INDUSTRYS TRANSITION TOWARDS SUSTAINABILITY AND DECARBONIZATION GOALS TO FUEL MARKET GROWTH
TABLE 63 CRYOGENIC EQUIPMENT MARKET FOR CHEMICAL, BY REGION, 20162019 (USD MILLION)
TABLE 64 CRYOGENIC EQUIPMENT MARKET FOR CHEMICAL, BY REGION, 20202027 (USD MILLION)
TABLE 65 CRYOGENIC EQUIPMENT MARKET FOR CHEMICAL, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 66 CRYOGENIC EQUIPMENT MARKET FOR CHEMICAL, BY CRYOGEN, 20202027 (USD MILLION)
8.5 ELECTRONICS
8.5.1 GROWTH IN SEMICONDUCTORS AND CONSUMER ELECTRONICS SECTORS TO DRIVE MARKET
TABLE 67 CRYOGENIC EQUIPMENT MARKET FOR ELECTRONICS, BY REGION, 20162019 (USD MILLION)
TABLE 68 CRYOGENIC EQUIPMENT MARKET FOR ELECTRONICS, BY REGION, 20202027 (USD MILLION)
TABLE 69 CRYOGENIC EQUIPMENT MARKET FOR ELECTRONICS, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 70 CRYOGENIC EQUIPMENT MARKET FOR ELECTRONICS, BY CRYOGEN, 20202027 (USD MILLION)
8.6 TRANSPORTATION
8.6.1 DEVELOPMENTS PERTAINING TO FUEL CELL ELECTRIC VEHICLES TO PROVIDE LUCRATIVE MARKET GROWTH OPPORTUNITIES
TABLE 71 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY TYPE, 20162019 (USD MILLION)
TABLE 72 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY TYPE, 20202027 (USD MILLION)
TABLE 73 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET FOR SHIPPING, BY REGION, 20162019 (USD MILLION)
TABLE 74 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET FOR SHIPPING, BY REGION, 20202027 (USD MILLION)
TABLE 75 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET FOR RAIL & ROAD TRANSPORT INDUSTRY, BY REGION, 20162019 (USD MILLION)
TABLE 76 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET FOR RAIL & ROAD TRANSPORT INDUSTRY, BY REGION, 20202027 (USD MILLION)
TABLE 77 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY REGION, 20162019 (USD MILLION)
TABLE 78 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY REGION, 20202027 (USD MILLION)
TABLE 79 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 80 CRYOGENIC EQUIPMENT MARKET FOR TRANSPORTATION, BY CRYOGEN, 20202027 (USD MILLION)
8.7 OTHER END USE INDUSTRIES
8.7.1 TECHNOLOGICAL ADVANCEMENTS COMPLEMENTED BY RESEARCH IN HEALTHCARE, AEROSPACE, AND F&B INDUSTRIES TO DRIVE MARKET
TABLE 81 CRYOGENIC EQUIPMENT MARKET FOR OTHER END USE INDUSTRIES, BY REGION, 20162019 (USD MILLION)
TABLE 82 CRYOGENIC EQUIPMENT MARKET FOR OTHER END USE INDUSTRIES, BY REGION, 20202027 (USD MILLION)
TABLE 83 CRYOGENIC EQUIPMENT MARKET FOR OTHER END USE INDUSTRIES, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 84 CRYOGENIC EQUIPMENT MARKET FOR OTHER END USE INDUSTRIES, BY CRYOGEN, 20202027 (USD MILLION)
9 CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE (Page No. - 128)
9.1 INTRODUCTION
FIGURE 37 CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2021
TABLE 85 CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 20202027 (USD MILLION)
9.2 STORAGE SYSTEM
9.2.1 DEVELOPMENT IN CRYOGENIC ENERGY STORAGE (CES) SYSTEMS TO PROVIDE LUCRATIVE GROWTH OPPORTUNITIES FOR MARKET
TABLE 86 CRYOGENIC EQUIPMENT MARKET FOR STORAGE SYSTEM, BY REGION, 20202027 (USD MILLION)
9.3 HANDLING SYSTEM
9.3.1 DEVELOPMENT OF INTEGRATED SMART CRYOGENIC VALVES BY MARKET PLAYERS EXPECTED TO PROPEL MARKET GROWTH
TABLE 87 CRYOGENIC EQUIPMENT MARKET FOR HANDLING SYSTEM, BY REGION, 20202027 (USD MILLION)
9.4 SUPPLY SYSTEM
9.4.1 GOVERNMENT INVESTMENTS IN GAS GENERATION AND ASSOCIATED LNG INFRASTRUCTURE TO DRIVE MARKET
TABLE 88 CRYOGENIC EQUIPMENT MARKET FOR SUPPLY SYSTEM, BY REGION, 20202027 (USD MILLION)
9.5 OTHERS
TABLE 89 CRYOGENIC EQUIPMENT MARKET FOR OTHERS, BY REGION, 20202027 (USD MILLION)
10 GEOGRAPHIC ANALYSIS (Page No. - 134)
10.1 INTRODUCTION
FIGURE 38 REGIONAL SNAPSHOT: MARKET IN ASIA PACIFIC IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 39 CRYOGENIC EQUIPMENT MARKET SHARE (VALUE), BY REGION, 2021
TABLE 90 CRYOGENIC EQUIPMENT MARKET, BY REGION, 20162019 (USD MILLION)
TABLE 91 CRYOGENIC EQUIPMENT MARKET, BY REGION, 20202027 (USD MILLION)
10.2 ASIA PACIFIC
FIGURE 40 SNAPSHOT: CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC
10.2.1 BY EQUIPMENT
TABLE 92 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 93 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY EQUIPMENT, 20202027 (USD MILLION)
10.2.2 BY CRYOGEN
TABLE 94 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 95 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY CRYOGEN, 20202027 (USD MILLION)
10.2.3 BY END USER
TABLE 96 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY END USER, 20162019 (USD MILLION)
TABLE 97 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY END USER, 20202027 (USD MILLION)
TABLE 98 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY TYPE, 20162019 (USD MILLION)
TABLE 99 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY TYPE, 20202027 (USD MILLION)
10.2.4 BY SYSTEM TYPE
TABLE 100 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.2.5 BY COUNTRY
TABLE 101 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY COUNTRY, 20162019 (USD MILLION)
TABLE 102 CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY COUNTRY, 20202027 (USD MILLION)
10.2.5.1 China
10.2.5.1.1 LNG infrastructure projects to offer lucrative growth opportunities for cryogenic equipment market in China
TABLE 103 CRYOGENIC EQUIPMENT MARKET IN CHINA, BY END USER, 20162019 (USD MILLION)
TABLE 104 CRYOGENIC EQUIPMENT MARKET IN CHINA, BY END USER, 20202027 (USD MILLION)
10.2.5.2 India
10.2.5.2.1 Investments in space missions are likely to support cryogenic equipment market growth in India
TABLE 105 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 106 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY EQUIPMENT, 20202027 (USD MILLION)
TABLE 107 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 108 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY CRYOGEN, 20202027 (USD MILLION)
TABLE 109 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY END USER, 20162019 (USD MILLION)
TABLE 110 CRYOGENIC EQUIPMENT MARKET IN INDIA, BY END USER, 20202027 (USD MILLION)
10.2.5.3 Australia
10.2.5.3.1 Increasing government investments in energy & power and metallurgy industries to drive demand for cryogenic equipment in Australia
TABLE 111 CRYOGENIC EQUIPMENT MARKET IN AUSTRALIA, BY END USER, 20162019 (USD MILLION)
TABLE 112 CRYOGENIC EQUIPMENT MARKET IN AUSTRALIA, BY END USER, 20202027 (USD MILLION)
10.2.5.4 Japan
10.2.5.4.1 Import and utilization of LNG to drive market for cryogenic equipment in Japan
TABLE 113 CRYOGENIC EQUIPMENT MARKET IN JAPAN, BY END USER, 20162019 (USD MILLION)
TABLE 114 CRYOGENIC EQUIPMENT MARKET IN JAPAN, BY END USER, 20202027 (USD MILLION)
10.2.5.5 Malaysia
10.2.5.5.1 Upstream natural gas production activities is expected to drive market growth in Malaysia
TABLE 115 CRYOGENIC EQUIPMENT MARKET IN MALAYSIA, BY END USER, 20162019 (USD MILLION)
TABLE 116 CRYOGENIC EQUIPMENT MARKET IN MALAYSIA, BY END USER, 20202027 (USD MILLION)
10.2.5.6 Rest of Asia Pacific
TABLE 117 CRYOGENIC EQUIPMENT MARKET IN REST OF ASIA PACIFIC, BY END USER, 20162019 (USD MILLION)
TABLE 118 CRYOGENIC EQUIPMENT MARKET IN REST OF ASIA PACIFIC, BY END USER, 20202027 (USD MILLION)
10.3 EUROPE
FIGURE 41 SNAPSHOT: CRYOGENIC EQUIPMENT MARKET IN EUROPE
10.3.1 BY EQUIPMENT
TABLE 119 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 120 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY EQUIPMENT, 20202027 (USD MILLION)
10.3.2 BY CRYOGEN
TABLE 121 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 122 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY CRYOGEN, 20202027 (USD MILLION)
10.3.3 BY END USER
TABLE 123 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY END USER, 20162019 (USD MILLION)
TABLE 124 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY END USER, 20202027 (USD MILLION)
TABLE 125 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY TYPE, 20162019 (USD MILLION)
TABLE 126 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY TYPE, 20202027 (USD MILLION)
10.3.4 BY SYSTEM TYPE
TABLE 127 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.3.5 BY COUNTRY
TABLE 128 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY COUNTRY, 20162019 (USD MILLION)
TABLE 129 CRYOGENIC EQUIPMENT MARKET IN EUROPE, BY COUNTRY, 20202027 (USD MILLION)
10.3.5.1 Russia
10.3.5.1.1 LNG and gas production infrastructure projects to fuel growth of cryogenic equipment market in Russia
TABLE 130 CRYOGENIC EQUIPMENT MARKET IN RUSSIA, BY END USER, 20162019 (USD MILLION)
TABLE 131 CRYOGENIC EQUIPMENT MARKET IN RUSSIA, BY END USER, 20202027 (USD MILLION)
10.3.5.2 UK
10.3.5.2.1 Investments in hydrogen-based technologies to fuel demand for cryogenic equipment in UK
TABLE 132 CRYOGENIC EQUIPMENT MARKET IN UK, BY END USER, 20162019 (USD MILLION)
TABLE 133 CRYOGENIC EQUIPMENT MARKET IN UK, BY END USER, 20202027 (USD MILLION)
10.3.5.3 Germany
10.3.5.3.1 Increasing government investments in energy & power and chemical industries to foster cryogenic equipment market growth in Germany
TABLE 134 CRYOGENIC EQUIPMENT MARKET IN GERMANY, BY END USER, 20162019 (USD MILLION)
TABLE 135 CRYOGENIC EQUIPMENT MARKET IN GERMANY, BY END USER, 20202027 (USD MILLION)
10.3.5.4 France
10.3.5.4.1 Frances commitment towards net zero emission to boost market growth
TABLE 136 CRYOGENIC EQUIPMENT MARKET IN FRANCE, BY END USER, 20162019 (USD MILLION)
TABLE 137 CRYOGENIC EQUIPMENT MARKET IN FRANCE, BY END USER, 20202027 (USD MILLION)
10.3.5.5 Rest of Europe
TABLE 138 CRYOGENIC EQUIPMENT MARKET IN REST OF EUROPE, BY END USER, 20162019 (USD MILLION)
TABLE 139 CRYOGENIC EQUIPMENT MARKET IN REST OF EUROPE, BY END USER, 20202027 (USD MILLION)
10.4 NORTH AMERICA
10.4.1 BY EQUIPMENT
TABLE 140 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 141 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY EQUIPMENT, 20202027 (USD MILLION)
10.4.2 BY CRYOGEN
TABLE 142 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 143 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY CRYOGEN, 20202027 (USD MILLION)
10.4.3 BY END USER
TABLE 144 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY END USER, 20162019 (USD MILLION)
TABLE 145 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY END USER, 20202027 (USD MILLION)
TABLE 146 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY TYPE, 20162019 (USD MILLION)
TABLE 147 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY TYPE, 20202027 (USD MILLION)
10.4.4 BY SYSTEM TYPE
TABLE 148 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.4.5 BY COUNTRY
TABLE 149 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY COUNTRY, 20162019 (USD MILLION)
TABLE 150 CRYOGENIC EQUIPMENT MARKET IN NORTH AMERICA, BY COUNTRY, 20202027 (USD MILLION)
10.4.5.1 US
10.4.5.1.1 Increase in natural gas generation and exports to fuel market growth in US
TABLE 151 CRYOGENIC EQUIPMENT MARKET IN US, BY END USER, 20162019 (USD MILLION)
TABLE 152 CRYOGENIC EQUIPMENT MARKET IN US, BY END USER, 20202027 (USD MILLION)
10.4.5.2 Canada
10.4.5.2.1 Export of LNG to fuel cryogenic equipment market growth in Canada
TABLE 153 CRYOGENIC EQUIPMENT MARKET IN CANADA, BY END USER, 20162019 (USD MILLION)
TABLE 154 CRYOGENIC EQUIPMENT MARKET IN CANADA, BY END USER, 20202027 (USD MILLION)
10.4.5.3 Mexico
10.4.5.3.1 Shale reservoirs development creates opportunities for cryogenic equipment market in Mexico
TABLE 155 CRYOGENIC EQUIPMENT MARKET IN MEXICO, BY END USER, 20162019 (USD MILLION)
TABLE 156 CRYOGENIC EQUIPMENT MARKET IN MEXICO, BY END USER, 20202027 (USD MILLION)
10.5 MIDDLE EAST
10.5.1 BY EQUIPMENT
TABLE 157 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 158 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY EQUIPMENT, 20202027 (USD MILLION)
10.5.2 BY CRYOGEN
TABLE 159 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 160 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY CRYOGEN, 20202027 (USD MILLION)
10.5.3 BY END USER
TABLE 161 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY END USER, 20162019 (USD MILLION)
TABLE 162 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY END USER, 20202027 (USD MILLION)
TABLE 163 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY TYPE, 20162019 (USD MILLION)
TABLE 164 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY TYPE, 20202027 (USD MILLION)
10.5.4 BY SYSTEM TYPE
TABLE 165 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.5.5 BY COUNTRY
TABLE 166 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY COUNTRY, 20162019 (USD MILLION)
TABLE 167 CRYOGENIC EQUIPMENT MARKET IN MIDDLE EAST, BY COUNTRY, 20202027 (USD MILLION)
10.5.5.1 Saudi Arabia
10.5.5.1.1 Initiation of LNG projects to favor cryogenic equipment market growth in Saudi Arabia
TABLE 168 CRYOGENIC EQUIPMENT MARKET IN SAUDI ARABIA, BY END USER, 20162019 (USD MILLION)
TABLE 169 CRYOGENIC EQUIPMENT MARKET IN SAUDI ARABIA, BY END USER, 20202027 (USD MILLION)
10.5.5.2 UAE
10.5.5.2.1 Growing energy & power sector in UAE to underpin cryogenic equipment market growth
TABLE 170 CRYOGENIC EQUIPMENT MARKET IN UAE, BY END USER, 20162019 (USD MILLION)
TABLE 171 CRYOGENIC EQUIPMENT MARKET IN UAE, BY END USER, 20202027 (USD MILLION)
10.5.5.3 Qatar
10.5.5.3.1 Increasing construction activities to propel cryogenic equipment market in Qatar
TABLE 172 CRYOGENIC EQUIPMENT MARKET IN QATAR, BY END USER, 20162019 (USD MILLION)
TABLE 173 CRYOGENIC EQUIPMENT MARKET IN QATAR, BY END USER, 20202027 (USD MILLION)
10.5.5.4 Rest of Middle East
TABLE 174 CRYOGENIC EQUIPMENT MARKET IN REST OF MIDDLE EAST, BY END USER, 20162019 (USD MILLION)
TABLE 175 CRYOGENIC EQUIPMENT MARKET IN REST OF MIDDLE EAST, BY END USER, 20202027 (USD MILLION)
10.6 AFRICA
10.6.1 BY EQUIPMENT
TABLE 176 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 177 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY EQUIPMENT, 20202027 (USD MILLION)
10.6.2 BY CRYOGEN
TABLE 178 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 179 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY CRYOGEN, 20202027 (USD MILLION)
10.6.3 BY END USER
TABLE 180 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY END USER, 20162019 (USD MILLION)
TABLE 181 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY END USER, 20202027 (USD MILLION)
TABLE 182 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY TYPE, 20162019 (USD MILLION)
TABLE 183 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY TYPE, 20202027 (USD MILLION)
10.6.4 BY SYSTEM TYPE
TABLE 184 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.6.5 BY COUNTRY
TABLE 185 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY COUNTRY, 20162019 (USD MILLION)
TABLE 186 CRYOGENIC EQUIPMENT MARKET IN AFRICA, BY COUNTRY, 20202027 (USD MILLION)
10.6.5.1 South Africa
10.6.5.1.1 Industrial growth in South Africa is expected to drive cryogenic equipment market
TABLE 187 CRYOGENIC EQUIPMENT MARKET IN SOUTH AFRICA, BY END USER, 20162019 (USD MILLION)
TABLE 188 CRYOGENIC EQUIPMENT MARKET IN SOUTH AFRICA, BY END USER, 20202027 (USD MILLION)
10.6.5.2 Nigeria
10.6.5.2.1 Increasing demand for LNG and nitrogen in oil & gas and shipping industries in Nigeria is favoring market
TABLE 189 CRYOGENIC EQUIPMENT MARKET IN NIGERIA, BY END USER, 20162019 (USD MILLION)
TABLE 190 CRYOGENIC EQUIPMENT MARKET IN NIGERIA, BY END USER, 20202027 (USD MILLION)
10.6.5.3 Algeria
10.6.5.3.1 Upcoming offshore projects are likely to drive demand for cryogenic equipment in Algeria
TABLE 191 CRYOGENIC EQUIPMENT MARKET IN ALGERIA, BY END USER, 20162019 (USD MILLION)
TABLE 192 CRYOGENIC EQUIPMENT MARKET IN ALGERIA, BY END USER, 20202027 (USD MILLION)
10.6.5.4 Rest of Africa
TABLE 193 CRYOGENIC EQUIPMENT MARKET IN REST OF AFRICA, BY END USER, 20162019 (USD MILLION)
TABLE 194 CRYOGENIC EQUIPMENT MARKET IN REST OF AFRICA, BY END USER, 20202027 (USD MILLION)
10.7 SOUTH AMERICA
10.7.1 BY EQUIPMENT
TABLE 195 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY EQUIPMENT, 20162019 (USD MILLION)
TABLE 196 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY EQUIPMENT, 20202027 (USD MILLION)
10.7.2 BY CRYOGEN
TABLE 197 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY CRYOGEN, 20162019 (USD MILLION)
TABLE 198 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY CRYOGEN, 20202027 (USD MILLION)
10.7.3 BY END USER
TABLE 199 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY END USER, 20162019 (USD MILLION)
TABLE 200 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY END USER, 20202027 (USD MILLION)
TABLE 201 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY TYPE, 20162019 (USD MILLION)
TABLE 202 TRANSPORTATION CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY TYPE, 20202027 (USD MILLION)
10.7.4 BY SYSTEM TYPE
TABLE 203 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY SYSTEM TYPE, 20202027 (USD MILLION)
10.7.5 BY COUNTRY
TABLE 204 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY COUNTRY, 20162019 (USD MILLION)
TABLE 205 CRYOGENIC EQUIPMENT MARKET IN SOUTH AMERICA, BY COUNTRY, 20202027 (USD MILLION)
10.7.5.1 Brazil
10.7.5.1.1 Oil & gas industry in Brazil is expected to drive cryogenic equipment market
TABLE 206 CRYOGENIC EQUIPMENT MARKET IN BRAZIL, BY END USER, 20162019 (USD MILLION)
TABLE 207 CRYOGENIC EQUIPMENT MARKET IN BRAZIL, BY END USER, 20202027 (USD MILLION)
10.7.5.2 Argentina
10.7.5.2.1 Reviving oil & gas sector in Argentina is likely to bring opportunities for cryogenic equipment market
TABLE 208 CRYOGENIC EQUIPMENT MARKET IN ARGENTINA, BY END USER, 20162019 (USD MILLION)
TABLE 209 CRYOGENIC EQUIPMENT MARKET IN ARGENTINA, BY END USER, 20202027 (USD MILLION)
10.7.5.3 Venezuela
10.7.5.3.1 Low industrial growth and recession in Venezuela are affecting cryogenic equipment market
TABLE 210 RYOGENIC EQUIPMENT MARKET IN VENEZUELA, BY END USER, 20162019 (USD MILLION)
TABLE 211 CRYOGENIC EQUIPMENT MARKET IN VENEZUELA, BY END USER, 20202027 (USD MILLION)
10.7.5.4 Rest of South America
TABLE 212 CRYOGENIC EQUIPMENT MARKET IN REST OF SOUTH AMERICA, BY END USER, 20162019 (USD MILLION)
TABLE 213 CRYOGENIC EQUIPMENT MARKET IN REST OF SOUTH AMERICA, BY END USER, 20202027 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 197)
11.1 OVERVIEW
FIGURE 42 KEY DEVELOPMENTS IN CRYOGENIC EQUIPMENT MARKET, 20182022
11.2 MARKET SHARE ANALYSIS OF KEY PLAYERS, 2021
TABLE 214 CRYOGENIC EQUIPMENT MARKET: DEGREE OF COMPETITION
FIGURE 43 SHARE ANALYSIS OF TOP PLAYERS IN CRYOGENIC EQUIPMENT MARKET, 2021
11.3 MARKET EVALUATION FRAMEWORK
TABLE 215 MARKET EVALUATION FRAMEWORK, 20182021
11.4 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS
FIGURE 44 SEGMENTAL REVENUE ANALYSIS, 20182021
11.5 RECENT DEVELOPMENTS
11.5.1 DEALS
TABLE 216 CRYOGENIC EQUIPMENT MARKET: DEALS, 20182022
11.5.2 OTHERS
TABLE 217 CRYOGENIC EQUIPMENT MARKET: OTHERS, 20182022
11.6 COMPETITIVE LEADERSHIP MAPPING
11.6.1 STAR
11.6.2 EMERGING LEADER
11.6.3 PERVASIVE
11.6.4 PARTICIPANT
FIGURE 45 CRYOGENIC EQUIPMENT MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
TABLE 218 COMPANY EQUIPMENT FOOTPRINT
TABLE 219 COMPANY END USER FOOTPRINT
TABLE 220 COMPANY REGION FOOTPRINT
12 COMPANY PROFILES (Page No. - 207)
12.1 KEY COMPANIES
(Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments)*
12.1.1 LINDE PLC
TABLE 221 LINDE PLC: BUSINESS OVERVIEW
FIGURE 46 LINDE PLC: COMPANY SNAPSHOT
TABLE 222 LINDE PLC: DEALS
TABLE 223 LINDE PLC: OTHERS
12.1.2 CHART INDUSTRIES
TABLE 224 CHART INDUSTRIES: BUSINESS OVERVIEW
FIGURE 47 CHART INDUSTRIES: COMPANY SNAPSHOT
TABLE 225 CHART INDUSTRIES: PRODUCTS OFFERED
TABLE 226 CHART INDUSTRIES: DEALS
12.1.3 PARKER HANNIFIN CORP
TABLE 227 PARKER HANNIFIN CORP: BUSINESS OVERVIEW
FIGURE 48 PARKER HANNIFIN CORP: COMPANY SNAPSHOT
12.1.4 AIR PRODUCTS INC.
TABLE 228 AIR PRODUCTS INC.: BUSINESS OVERVIEW
FIGURE 49 AIR PRODUCTS INC.: COMPANY SNAPSHOT
TABLE 229 AIR PRODUCTS INC: DEALS
12.1.5 AIR LIQUIDE
TABLE 230 AIR LIQUIDE: BUSINESS OVERVIEW
FIGURE 50 AIR LIQUIDE: COMPANY SNAPSHOT
TABLE 231 AIR LIQUIDE: DEALS
TABLE 232 AIR LIQUIDE: OTHERS
12.1.6 TAYLOR-WHARTON
TABLE 233 TAYLOR-WHARTON: BUSINESS OVERVIEW
12.1.7 WESSINGTON CRYOGENICS
TABLE 234 WESSINGTON CRYOGENICS: BUSINESS OVERVIEW
12.1.8 EMERSON ELECTRIC CO.
TABLE 235 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
FIGURE 51 EMERSON ELECTRIC CO.: COMPANY SNAPSHOT
TABLE 236 EMERSON ELECTRIC CO.: DEALS
12.1.9 SULZER LTD
TABLE 237 SULZER LTD: BUSINESS OVERVIEW
FIGURE 52 SULZER LTD: COMPANY SNAPSHOT
TABLE 238 SULZER LTD: PRODUCTS OFFERED
12.1.10 FLOWSERVE CORPORATION
TABLE 239 FLOWSERVE CORPORATION: BUSINESS OVERVIEW
FIGURE 53 FLOWSERVE CORPORATION: COMPANY SNAPSHOT
12.1.11 PHPK TECHNOLOGIES
TABLE 240 PHPK TECHNOLOGIES: BUSINESS OVERVIEW
12.1.12 INOX INDIA PVT LTD
TABLE 241 INOX INDIA PVT LTD: BUSINESS OVERVIEW
TABLE 242 INOX INDIA PVT LTD: DEALS
TABLE 243 INOX INDIA PVT LTD: OTHERS
12.1.13 ACME CRYO
TABLE 244 ACME CRYO: BUSINESS OVERVIEW
TABLE 245 ACME CRYO: DEALS
12.1.14 SHI CRYOGENICS GROUP
TABLE 246 SHI CRYOGENICS GROUP: BUSINESS OVERVIEW
TABLE 247 SHI CRYOGENICS GROUP: DEALS
12.1.15 NIKKISO CO., LTD.
TABLE 248 NIKKISO CO., LTD.: BUSINESS OVERVIEW
FIGURE 54 NIKKISO CO., LTD.: COMPANY SNAPSHOT
*Business Overview, Products/Services/Solutions Offered, MnM View, Key Strengths and Right to Win, Strategic Choices Made, Weaknesses and Competitive Threats, Recent Developments might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 FIVES SAS
12.2.2 CRYOFAB
12.2.3 HEROSE GMBH
12.2.4 CRYOSTAR
12.2.5 SHELL-N-TUBE
13 APPENDIX (Page No. - 256)
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
This study involved four major activities in estimating the current size of the cryogenic equipments market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.
Secondary Research
This research study involved the use of extensive secondary sources, directories, and databases such as water and wastewater management data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and water & environment journal to identify and collect information useful for a technical, market-oriented, and commercial study of the cryogenic equipments market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
Primary Research
The cryogenic equipments market comprises several stakeholders such as companies related to the industry, component manufacturing companies for cryogenic equipment, government & research organizations, organizations, forums, alliances & associations, cryogenic equipments providers, state & national energy authorities, dealers & suppliers, and vendors. The demand side of the market is characterized by increased investment in the residential, commercial, and industrial sector. The supply side is characterized by investments & expansion and partnerships & collaborations among big players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the global cryogenic equipments market and its dependent submarkets. These methods were also extensively used to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
- The industrys supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Cryogenic equipments Market Size: Bottom-Up Approach
Data Triangulation
After arriving at the overall market sizeusing the market size estimation processes as explained abovethe market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the cryogenic equipments market.
Objectives of the Study
- To define and describe the cryogenic equipment market, based on equipment, cryogen, system type, end-user and region
- To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To strategically analyze each segment/subsegment of the market with respect to individual growth trends, future expansions, and their contributions to the overall market
- To analyze market opportunities for stakeholders and the competitive landscape for market leaders
- To forecast the growth of the market with respect to six main regions: North America, Europe, Asia Pacific, Middle East, Africa and South America.
- To strategically profile key players and comprehensively analyze their respective market share and core competencies*
- To analyze competitive developments such as investments & expansions, mergers & acquisitions, new product launches, contracts & agreements, and joint ventures & collaborations in the cryogenic equipment market
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to your specific needs. The following customization options are available for the report:
Company Information
- Product Matrix, which provides a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players
Generating Response ...
Growth opportunities and latent adjacency in Cryogenic Equipment Market