Cryogenic Pumps Market Overview:
The market research made on cryogenic pumps shows a potential growth of 9.35% CAGR during the forecast timeline which is till 2030 at the valuation of USD 8.02 Billion.
Cryogenic pumps are used to transfer and handle cryogenic fluids such as liquefied natural gas (LNG), liquid nitrogen, and liquid oxygen. They are widely used in various industries, including energy, healthcare, food and beverage, and electronics. The global cryogenic pump market is expected to witness strong growth in the coming years due to increasing demand from the industrial gas and energy industries.
The market is segmented by type, end-use industry, and region. The main types of cryogenic pumps are reciprocating, centrifugal, and other types such as jet and screw pumps. The market is dominated by centrifugal pumps, which are widely used in various applications due to their high efficiency and reliability.
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Market segmentation:
As per the type
- Positive displacement
- Centrifugal pumps
As per the end-user
- Power generation
- Oil and gas
- Metallurgy
- Chemical and petrochemicals
- Marine
Regional classification:
The regional analysis that has been made on the cryogenic pump market shows that it is bifurcated into North America, Asia-pacific, Europe, The Middle East and Africa, and South America. Presently, North America is doming the market at a faster pace because of increased demand in the end-user industries.
Industry news:
Air Squared Inc innovated the first cryogenic pump in April 2014 with small-scale positive displacement.
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Key Players
- Ebara Corporation
- Technex Limited
- Flowserve Corporation
- Ruhrpumpen Inc.
- Sumitomo Heavy Industries
- PHPK Technologies Inc.
- Fives S.A.
- Nikkiso Cryo Inc
- Brooks Automation
- Cryostar SAS
- Cryoquip Australia
