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The Worldwide Cryogenic Pump Industry is Projected to reach $1.5 Billion by 2027
Global Cryogenic Pump Market
Dublin, June 14, 2022 (GLOBE NEWSWIRE) -- The "Cryogenic Pump Market by Orientation, Design (Submersible, Non-Submersible), Type, Cryogen (Nitrogen, Argon, Oxygen, LNG, Helium, Hydrogen), End User (Energy & Power, Chemicals, Metallurgy, Healthcare & Pharmaceuticals) & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cryogenic pump market is projected to reach USD 1.5 billion by 2027 from an estimated market size of USD 1.2 billion in 2022, at a CAGR of 4.6% during the forecast period. Owing to the rising demand for cryogenic gases from the metallurgy and energy & power industries, the demand for cryogenic pumps is expected to increase.
Non-Submersible segment dominates the global market
The cryogenic pump market, by design, is segmented into submersible and non-submersible. The non-submersible segment is estimated to be the largest segment of the cryogenic pump market and is expected to retain its dominance throughout the forecast period. The characteristics such as ease of use and accessibility for maintenance have resulted in a higher adoption rate, thus the higher market share.
Energy & Power segment to lead the global cryogenic pumps market
The cryogenic pump market, by end-user, is segmented into energy & power, metallurgy, chemicals, healthcare & pharmaceuticals, and others. The energy & power segment is expected to hold the largest size of the market for cryogenic pump during the forecast period. The rise in E&P activities, especially the activities concerned with mature oil & gas wells, is expected to boost the growth of the market.
Asia Pacific dominates the global cryogenic pumps market in terms of market share and annual growth rate
The Asia Pacific region is estimated to be the largest market for the cryogenic pump market and is also witnessed to have the highest growth rate, during the forecast period. This dominance of the Asia Pacific region in the cryogenic pump market can be attributed to the growing demand for cryogenic pumps from metallurgy and energy & power industries, especially from developing economies such as China and India.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Cryogenic Pump Market
4.2 Cryogenic Pump Market, by Design
4.3 Cryogenic Pump Market, by Type
4.4 Cryogenic Pump Market, by Cryogen
4.5 Cryogenic Pump Market, by End-User
4.6 Cryogenic Pump Market in Asia-Pacific, by Type & Country
4.7 Cryogenic Pump Market, by Region
5 Market Overview
5.1 Introduction
5.2 COVID-19 Health Assessment
5.3 COVID-19 Economic Assessment
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 High Demand for Industrial Gases from Energy & Power Industry
5.4.1.2 Growing Demand for Cryogenic Pumps 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 Interference of Gray Market Players
5.4.3 Opportunities
5.4.3.1 Evolving Cryogenic Electronics Applications
5.4.3.2 Rising Adoption 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 Trends/Disruptions Impacting Customers' Businesses
5.6.1 Revenue Shift and New Revenue Pockets in Cryogenic Pump Market
5.7 Supply Chain Analysis
5.7.1 Cryogenic Pump Raw Material Suppliers
5.7.2 Cryogenic Pump Manufacturers
5.7.3 Industrial Gas Manufacturers
5.7.4 End-Users
5.8 Market Map
5.9 Key Conferences & Events to be Held During 2022-2023
5.10 Cryogenic Pump Market: Regulations
5.10.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.11 Porter's Five Forces Analysis
5.11.1 Threat of New Entrants
5.11.2 Bargaining Power of Suppliers
5.11.3 Bargaining Power of Buyers
5.11.4 Threat of Substitutes
5.11.5 Intensity of Competitive Rivalry
5.12 Key Stakeholders & Buying Criteria
5.12.1 Key Stakeholders in Buying Process
5.12.2 Buying Criteria
5.13 Innovations & Patent Registration
5.14 Technology Analysis
5.15 Pricing Analysis
5.15.1 Average Selling Prices of Types of Cryogenic Pumps, by Design
5.16 Case Study Analysis
5.16.1 Fives Group's Impactful Solution to Help Indonesian Client's Asu Plant Mishap
6 Cryogenic Pump Market, by Orientation
6.1 Introduction
6.2 Horizontal
6.3 Vertical
7 Cryogenic Pump Market, by Design
7.1 Introduction
7.2 Submersible
7.2.1 Sustainability Goals of Various Economies to Drive Market
7.3 Non-Submersible
7.3.1 Increasing Investments in Oil & Gas Sector to Drive Demand for Non-Submersible Pumps
8 Cryogenic Pump Market, by Type
8.1 Introduction
8.2 Centrifugal
8.2.1 Growth of Food & Beverages, Healthcare, and Electronics Industries to Drive Market
8.3 Positive Displacement
8.3.1 Higher Operational Efficiency and Versatility are Expected to Drive Market
9 Cryogenic Pump Market, by Cryogen
9.1 Introduction
9.2 Nitrogen
9.2.1 Increasing Demand from Oil & Gas Sector Creates High Demand for Nitrogen-Based Cryogenic Pumps
9.3 Argon
9.3.1 Demand for Argon-Handling Cryogenic Pumps Increases with Demand for Electronics
9.4 Oxygen
9.4.1 Increasing Steel and Iron Production Creates High Demand for Oxygen-Related Cryogenic Pumps
9.5 Lng
9.5.1 Rising Demand for Cleaner Energy Sources Creates Demand for Lng Infrastructure
9.6 Hydrogen
9.6.1 Rising Demand for Hydrogen Fuel Cells is Expected to Fuel Growth of Hydrogen Pumps
9.7 Helium
9.7.1 Rapid Industrialization to Fuel Market Growth
9.8 Other Cryogens
10 Cryogenic Pump Market, by End-User
10.1 Introduction
10.2 Metallurgy
10.2.1 Favourable Government Policies Benefitting Manufacturing and Industrial Sectors to Drive Market
10.3 Energy & Power
10.3.1 Growing Energy and Oil Demands and Growth of Lng Market to Fuel Market Growth
10.4 Chemicals
10.4.1 Chemical Companies Transition Toward Sustainability and Decarbonization Goals to Fuel Market Growth
10.5 Electronics
10.5.1 Growth in Semiconductor and Consumer Electronics Sectors to Drive Market
10.6 Healthcare & Pharmaceuticals
10.6.1 Absence of Alternative Medical Gases to Fuel Market Growth
10.7 Others
11 Cryogenic Pump Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis of Key Players, 2021
12.3 Market Evaluation Framework
12.4 Segmental Revenue Analysis of Top Market Players
12.5 Recent Developments
12.5.1 Deals
12.5.2 Others
12.6 Company Evaluation Quadrant
12.6.1 Star
12.6.2 Emerging Leader
12.6.3 Pervasive
12.6.4 Participant
13 Company Profiles
13.1 Key Companies
13.1.1 Atlas Copco Ab
13.1.2 Ebara Corporation
13.1.3 Shi Cryogenics Group
13.1.4 Nikkiso Co. Ltd.
13.1.5 Fives Group
13.1.6 Sulzer Ltd
13.1.7 Cryostar
13.1.8 Ruhrpumpen Group
13.1.9 Trillium Flow Technologies
13.1.10 Phpk Technologies
13.1.11 Gemmecotti Srl
13.1.12 Technex Limited
13.1.13 Barber-Nichols
13.1.14 Hsr Ag
13.1.15 Vanzetti Engineering S.P.A.
13.2 Other Players
13.2.1 Sehwa Tech, Inc.
13.2.2 Cryovation LLC.
13.2.3 Optimex
13.2.4 Cs&P Technologies
13.2.5 Pbs Velka Bites
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/56ddy6
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