Press Release

Cryogenic Equipment Market 2020 | Covid-19 Impact Analysis on CAGR by key Players, Strategic Outlook and Forecast by 2026

Key Companies Profiled are Inoxcva, Cryofab, Inc., Linde, Chart Industries, Inc., Cryo Pur, Cryoquip, The Weir Group PLC, SHI Cryogenics Group, Herose GMBH Armaturen und Metalle, Nikkiso, Co. Ltd., PHPK Technologies, Wessington Cryogenics, Fives, Flowserve Corporation, Schlumberger, Sulzer, and Other Key Players

The scientific study of materials at their extremely low temperatures is called cryogenics. Cryogenic equipment is used for operating in extremely low temperatures and at a slow rate so as to prevent thermal shock to its components. The increasing demand for liquefied natural gas or LNG is propelling the growth of the global cryogenic equipment market, says Fortune Business Insights in their new report. To cite an example, a new high recovery cryogenic gas processing plant was launched by a subsidiary of Honeywell, namely UOP Russel in Sep 2018. This gas processing plant is 50% larger than other plants that are pre-engineered till today and has a capacity of 300 million standard cubics per day. Such innovations are likely to bode well for the global cryogenic equipment market in the forecast duration.

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According to a report by Fortune Business Insights, titled, “Cryogenic Equipment Market Size, Share and Global Trend By Product Type (Tanks, Valves, Vaporizer, Pumps, Others), By Cryogen Type (Nitrogen, Oxygen, Argon, LNG, Others), By End User (Chemical, Energy & Power Generation, Electrical, Metallurgy, Others), and Geography Forecast Till 2026,” the cryogenic equipment market can be categorized on the basis of cryogen type, product type, end-user, and geography. With respect to product type, the market is classified into pumps, vaporizers, valves, tanks, and others. Based on the cryogen type, the market is grouped into LNG, oxygen, argon, nitrogen, and others. On the basis of end user segmentation, the market is divided into metallurgy, electrical, chemical, energy and power generation, and others.

The report on market focusses on all factors influencing the growth of the market with interesting insights. The report also presents opportunities that may help cryogenic equipment market generate great revenues in the forecast duration.

Some of the companies are mentioned below:

  • Altas Copco
  • Ebara Corporation
  • Nikkiso
  • Flowserve Corporation
  • Wilo AG
  • ITT
  • Herose GmbH
  • Schlumberger
  • Roper Industries
  • Wessington Cryogenics
  • Grundfos
  • Sulzer
  • Weir
  • Chart Industries
  • KSB
  • Linde
  • Cryofab

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Asia Pacific to Emerge Dominant on Account of Rapid Industrialization

The surge in demand from the power industry is propelling growth of the cryogenic equipment market in North America. This region also plans to expand in the forthcoming years. On the other side, the market in Europe is anticipated to witness substantial growth in the forecast duration on account of surge in demand for cryogenic devices from various industries such as electronics, and food and beverage industry.

The market in Asia Pacific is anticipated to grow at a fast pace owing to rapid industrialization. In addition to this, the increasing demand for power to store and ship LNG from countries such as India and China are anticipated to help Asia Pacific emerge as a dominant region in the forecast duration.

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Key Market Driver – Increase in LNG demand

Key Market Restraint – Reduction in steel industries


  1. By Product Type
  • Tanks
  • Valves
  • Vaporizer
  • Pumps
  • Others
  1. By Cryogen Type
  • Nitrogen
  • Oxygen
  • Argon
  • LNG
  • Others
  1. By End User
  • Chemical
  • Energy & Power Generation
  • Electrical
  • Metallurgy
  • Others
  1. By Geography
  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Jessie is the contributing author and editor for the electric vehicle column. She is an automobile engineer and has hypothesized many designs of vehicles based on the renewable sources of energies. She is also an excellent writer, and hence her contribution to the website is noteworthy. Her articles tell about the market of e vehicle, the rise, the drop and also the future predictions.

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