Cryogenic Equipment Market Worth $17.1 Billion by 2025 - Exclusive Report by MarketsandMarkets™

CHICAGO, April 6, 2020 /PRNewswire/ -- According to the new market research report "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping, and Others), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Cryogenic Equipment Market is projected to reach USD 17.1 billion by 2025 from an estimated USD 12.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Increasing demand for industrial gases and investments in LNG infrastructure is driving the Cryogenic Equipment Market. Moreover, the increasing demand for industrial gases from cryogenic energy storage and cryoelectronics manufacturing is likely to bring opportunities for the Cryogenic Equipment Market.

The vaporizer segment is expected to grow at the highest CAGR from 2020 to 2025.

Cryogenic vaporizers are used for high volume vaporization and regasification of industrial gases like LNG to release them in a controlled flow. The various types of vaporizers are ambient vaporizers, water bath vaporizers, shell and tube vaporizers, electric vaporizers, and well service vaporizers. Industries like metallurgy and chemicals are observing increasing consumption for industrial gases. For this, the industries have to set up air separation units at their manufacturing sites. These air separation units involve different types of vaporizers for converting the cryogenic liquid back into gaseous form for end-use purposes. These factors have increased the demand for vaporizers.

Browse in-depth TOC on "Cryogenic Equipment Market"

119 – Tables

34 – Figures  

169 – Pages

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=735

The Nitrogen segment is expected to lead the global Cryogenic Equipment Market during the forecast period.

Nitrogen is mostly used in industries like energy & power for enhanced oil recovery. It is mostly used in fertilizer and chemical industries. Fertilizer is the major consumer of nitrogen. In 2019, According to the National Center for Biotechnology Information, every year, 50 million tons of nitrogen are produced. This growth rate stimulated the demand for equipment to handle and manage the Nitrogen. However, the cryogen equipment market for nitrogen is mature; thus, there is a lesser year on year demand for nitrogen handling and cryogenic transportation equipment.

The electronics segment is expected to grow at the highest CAGR in the global Cryogenic Equipment Market during the forecast period.

Cryogenics has vast applications in the electronics industry. Cryogenic processing extends the life of the circuit boards. They are also employed in switching devices, semiconductor, and superconductor devices since low temperature decreases the resistance of materials. Cryogenic milling and freezer grinding are some of the other processes that happen in the electronic industry. Cryogenic equipment such as semiconductor grade vaporizers and tanks are commonly used. Increasing the construction of air separation units for the electric industry is likely to drive the Cryogenic Equipment Market during the forecast period.

Speak to Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=735 

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Cryogenic Equipment Market.

Some of the key players are Linde plc (Ireland), Chart Industries (US), Air Products (US), INOXCVA (India), Taylor Wharton (Japan), and Cryofab (US). The leading players are adopting various strategies to increase their share in the Cryogenic Equipment Market. Contracts & agreements, and mergers & acquisitions have been a widely adopted strategy by the major players in the Cryogenic Equipment Market.

Browse Related Reports:

Cryogenic Tanks Market by Raw Material (Steel, Nickel Alloy), Cryogenic Liquid (Liquid Nitrogen, LNG), Application (Storage, Transportation), End-use Industry (Metal Processing, Energy Generation, Electronics), and Region - Global Forecast to 2024

Cryogenic Insulation Market by Type (PU & PIR, Cellular Glass, Polystyrene, Fiberglass, Perlite), Cryogenic Equipment (Tanks, Valves), End-Use Industry (Energy & Power, Chemicals, Metallurgical, Electronics, Shipping) - Global Forecast to 2023

Cryogenic Valve Market by Gas (LNG, Oxygen, Nitrogen), Type (Globe, Gate, Ball), End-User (Energy & Power, Food, Chemicals), Application (Tanks & Cold Boxes, Transfer Lines, Manifolds & Gas Trains), And Region - Global Forecast to 2023

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com 
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/cryogenic-equipment-market.asp 
Visit Our Web Site: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/cryogenic.asp 

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg