Global Cryogenic Pump Market 2021: Global Projection, Developments Status, Analysis, Trend and Forecasts

 Market Highlights

The global cryogenic pump market is expected to grow at ~ 4.02% CAGR during the forecast period.

Cryogenic pump is a type of vacuum pump that captures gases by condensing them on a cold surface which is at low temperature. Centrifugal and positive displacement are the two types of cryogenic pumps. These pumps provide high pumping speeds for all the gases and store gases as ice. Increased investment in industries such as energy & power, electronics, and healthcare, among others would drive the demand for cryogenic pumps market.

On the basis of gas segment, the market is segmented as nitrogen, oxygen, argon, LNG, and others. LNG is expected to dominate the market during the forecast period due to its increased demand pertaining to environmental concerns. LNG is useful, particularly for the transportation of natural gas, since LNG takes up about 1/600th of the volume of gaseous natural gas. Considering the type, the market is segmented as centrifugal and positive displacement. Positive displacement pumps would dominate the market due to high viscosity and caters to applications that require high pressure.

Key Players

The key players of the global cryogenic pump market are Ebara Corporation (Japan), Flowserve Corporation (US), Sumitomo Heavy Industries (Japan), Fives S.A. (France), Brooks Automation (US), Cryoquip Australia, Cryostar SAS (France), Nikkiso Cryo Inc. (US), PHPK Technologies Inc. (US), Ruhrpumpen Inc. (Mexico), and Technex Limited (India).

Market Research Analysis

Asia-Pacific accounts for the largest and fastest market for cryogenic pumps

Region wise, Asia-Pacific held the largest market share of the global cryogenic pump market in 2017. The growth in this region is driven by industrial development in emerging countries such as China, India, Malaysia, and other Southeast Asian countries. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the growing energy need, focus on renewable generation, and rapid urbanization.

This report provides an in-depth analysis of the global cryogenic pump market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the cryogenic pump market by its connectivity, type, sector, and by region.

By Type

  • Centrifugal
  • Positive Displacement

By Gas

  • Nitrogen
  • Oxygen
  • Argon
  • LNG
  • Others

By End-Use

  • Energy & Power
  • Chemicals
  • Metallurgy
  • Electronics
  • Others

By Regions

  • North America 
  • Asia-Pacific 
  • Europe
  • Middle East & Africa
  • South America

Browse Complete Report Details @ 

https://www.marketresearchfuture.com/reports/cryogenic-pump-market-7567

About Market Research Future:

Market Research Future (MRFR) is a reliable firm that undertakes an extensive analysis of markets in various domains. Our teams of research analysts gather relevant data through painstaking primary and secondary research that aims to give clients a complete outlook on markets of their interest. The data is compared against third-party agencies and reputed organizations for estimating valuations and revenue projections.

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