Cryogenic Equipment Market Analysis:
Cryogenic Equipment Market is projected to be worth USD 37.18 billion by 2030, registering a CAGR of 7.29% during the forecast period (2022 - 2030).
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Segmentation:
The global cryogenic equipment market is segmented on the basis of product type, cryogen type, end use, and region.
By product type, the global cryogenic equipment market is segmented into valves, tanks, vaporizers, pumps, and others.By cryogen type, the global cryogenic equipment market is segmented into oxygen, nitrogen, LNG, argon, and others.By end use, the global cryogenic equipment market is segmented into energy and power, chemical, electronics, shipping, metallurgical, and others.Regional Analysis:
Asia Pacific is likely to emerge as an important regional market for cryogenic equipment over the forecast period due to the growing oil and gas industry in the region.
The global cryogenic equipment market is projected to grow at a significant growth rate during the forecast period owing to the increase in demand for cryogenic equipment across multiple end-use industries such as power generation, healthcare, electronics, and others. Increasing LNG production and demand for medical gases in the healthcare sector would give impetus to the use of cryogenic equipment. The growth in the demand for medical gases for diagnosis and treatment of various respiratory diseases such as asthma, cardiovascular, and others could lead to the demand for medical gases, which is likely to boost the cryogenic equipment market.
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Competitive Leaderboard:
Leading players in the global cryogenic equipment market include Beijing Tianhai Industry Co. Ltd., Cryofab Inc., Emerson, Graham Partners, Herose GmbH, Linde Group AG, VRV SpA, Air Liquide, Chart Industries Inc., Cryoquip LLC, Flowserve Corporation, Parker Hannifin, and INOX India Ltd.
