Cryogenic Equipment Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Cryogenic Equipment Market size will depict over 5.5% CAGR between 2024 and 2032, owing to innovations in cryogenic systems. For example, in March 2024, Air Products and DSI Dantech combined their knowledge in food freezing manufacturing experience to launch the most advanced cryogenic freezing technologies. Rapid improvements in insulation materials, energy-efficient refrigeration cycles, and automated control systems are enhancing the performance and reliability of these equipment, making them more attractive to a wider range of industries. The influx of supportive government policies and funding for R and D in cryogenic technologies, especially in energy storage and space exploration will also boost the market growth.

The cryogenic equipment industry is classified into product, cryogen type, application, end use, and region.

By cryogen type, the industry size from the argon segment will accrue a lucrative CAGR through 2032. In metal manufacturing and processing, furnaces and heat treatment processes utilize argon to establish an inert atmosphere whilst safeguarding against oxidation and other undesired reactions. To support these processes, cryogenic storage systems play a crucial role in ensuring a consistent argon supply.

Based on end use, the cryogenic equipment market value from the chemical segment will account for a significant revenue share by 2032. This equipment is utilized to liquefy and store gases, such as nitrogen, oxygen, hydrogen, and carbon dioxide, often required in liquid form for chemical reactions or for easier storage and transportation. Growing usage in processing materials that are sensitive to high temperatures will also prove favorable for the segment growth.

Europe cryogenic equipment industry size will register a substantial CAGR from 2024 to 2032 due to the growth of the healthcare and biotechnology sectors along with the subsequent need for storage and transportation of biological samples, vaccines, and other sensitive materials. The surging emphasis on reducing carbon emissions has resulted in increased investments in LNG infrastructure, further boosting product demand for LNG storage and transportation across the region.

Product Code: 2918

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculations
- 1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Cryogenic Equipment Industry Insights

3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
3.6 PESTEL analysis

Chapter 4 Competitive Landscape, 2024

4.1 Introduction
4.2 Strategic dashboard
4.3 Innovation and sustainability landscape

Chapter 5 Market Size and Forecast, By Product, 2021 - 2032 (USD Million)

5.1 Key trends
5.2 Tanks
5.3 Valves
5.4 Vaporizers
5.5 Pumps
5.6 Pipe
5.7 Others

Chapter 6 Market Size and Forecast, By Cryogen Type, 2021 - 2032 (USD Million)

6.1 Key trends
6.2 Nitrogen
6.3 Oxygen
6.4 Natural gas
6.5 Argon
6.6 Other cryogens

Chapter 7 Market Size and Forecast, By Application, 2021 - 2032 (USD Million)

7.1 Key trends
7.2 Storage
7.3 Distribution

Chapter 8 Market Size and Forecast, By End Use, 2021 - 2032 (USD Million)

8.1 Key trends
8.2 O and G industry
8.3 Power
8.4 Food and beverage
8.5 Chemical
8.6 Rubber and plastics
8.7 Mettallurgy
8.8 Healthcare
8.9 Shipping
8.10 Agriculture, forestry and fishing
8.11 Other industries

Chapter 9 Market Size and Forecast, By Region, 2021 - 2032 (USD Million)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.2.3 Mexico
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 Italy
- 9.3.4 Spain
- 9.3.5 France
- 9.3.6 Poland
- 9.3.7 Norway
- 9.3.8 Netherlands
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 Indonesia
- 9.4.5 Thailand
- 9.4.6 Malaysia
- 9.4.7 Philippines
- 9.4.8 South Korea
- 9.4.9 Australia
9.5 Middle East and Africa
- 9.5.1 UAE
- 9.5.2 Saudi Arabia
- 9.5.3 Kuwait
- 9.5.4 Oman
- 9.5.5 Turkey
- 9.5.6 Qatar
- 9.5.7 Egypt
- 9.5.8 South Africa
9.6 Latin America
- 9.6.1 Brazil
- 9.6.2 Argentina
- 9.6.3 Peru

Chapter 10 Company Profiles

10.1 Abhijit Enterprises
10.2 Air Liquide
10.3 Air Products and Chemicals, Inc.
10.4 AIR WATER INC
10.5 Auguste Cryogenics
10.6 Brugg Group AG
10.7 Cryogenic Liquide
10.8 CRYOSPAIN
10.9 Cryostar
10.10 Cryoworld
10.11 DEMACO
10.12 Emerson Electric Co.
10.13 Flowserve Corporation
10.14 Hypro
10.15 INOXCVA
10.16 IWI Cryogenic Vaporization Systems (India) Pvt. Ltd.
10.17 Kelvin Technology
10.18 Linde PLC
10.19 Schlumberger Limited
10.20 Shell-n-Tube
10.21 Vacuum Barrier Corporation
10.22 VRV S.r.L