Global Cryogenic Equipment Report 2024: With Cryogenics Finding Increased Adoption in Medical Applications, Cryogenic Tanks Market Poised for Growth


Dublin, June 10, 2024 (GLOBE NEWSWIRE) -- The "Cryogenic Equipment - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Cryogenic Equipment is estimated at US$13.9 Billion in 2023 and is projected to reach US$22.1 Billion by 2030, growing at a CAGR of 6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Nitrogen-based Cryogenic Equipment segment, which is expected to reach US$7.2 Billion by 2030 with a CAGR of 6.7%. The Oxygen-based Cryogenic Equipment segment is also set to grow at 5.2% CAGR over the next 8 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $2.8 Billion in 2023, and China, forecasted to grow at an impressive 7.5% CAGR to reach $3.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Key Market Trends & Drivers:

  • Myriad Applications of Cryogenics Presents Growth Opportunity for Cryogenic Equipment Market
  • Growing Role of Cryogenics in Industrial Manufacturing Fosters Growth in Cryogenic Equipment Market
  • Metal Processing Industry Emerges as a Major End-Use Market for Cryogenic Equipment
  • Widespread Use of Cryogenic Technology for Food Processing and Preservation to Boost Market Prospects
    • Cryogrinding
    • Preserving Fresh Produce
    • Freezing Food
  • Rising Importance of Cryogenic Gases for Improving Quality of Foods
  • Liquid Nitrogen Takes the Icing on Cakes and Bakes
  • Enhancing Shelf Life of Products: A Key Advantage
  • Cryogenic Food Freezing Taps Benefits of Liquid Nitrogen Vis-a-vis other Gases
  • Helium based Cryogenic Auto-fill Equipment - A Growing Market Segment
  • Cryogenic Tanks for Regulating Temperature in Cold Storage Chains
  • Rising Demand for LNG Drives Demand for Cryogenic Tanks
  • Shift Towards Renewable Energy Enhances Importance of Cryogenic Energy Storage System, Driving Market Growth
  • Cryogenics and Superconductivity for Affordable Energy Storage and Generation
  • Worldwide Steel Production Trends Impact Cryogenic Tanks Market
  • With Cryogenics Finding Increased Adoption in Medical Applications, Cryogenic Tanks Market Poised for Growth
  • Rising Importance of Cryogenic Tanks for Fast Biological Sample Preservation and Rapid Vaccine Freezing
  • Increasing Role of Cryogenic Equipment in Electronics Industry to Spur Growth
  • Growing Demand for Liquid Oxygen to Fuel Growth in Cryogenic Tanks Market
  • Surge in Demand for Medical Oxygen Amidst the COVID-19 Pandemic Fuels Market Prospects
  • Market to Benefit from Rising Use of Liquid Oxygen in Water Treatment
  • Growing Use of Cryogenic Tanks in Space Technology
  • Cryogenic Applications for Mars Missions
  • Introduction of Newer Technologies in Space Systems Bodes Well for Cryogenic Tanks Market
  • Robotic Refueling Mission 3 (RRM3)
  • Growing Need for Transportation Tanks for Cryogenic Liquids: A Major Growth Opportunity
  • Technological Innovations and Advancements
  • CryoHub Innovation Project
  • Air Products Showcases Sophisticated Solutions for Cryogenic Food Processing
  • HAL Delivers Large-sized Cryogenic Propellant Tank to ISRO
  • Using Optimal Control to Cut Energy Consumption & Carbon Emission of Cryogenic Refrigerators
  • Hermetic Shield Addresses Parasitic Heating Issues in Cryogen-free Dilution Refrigerators
  • Researchers Eye on Cryogenic Energy Storage to Push Renewable Energy Generation and Balance Power Grid
  • Cryogenics to Preserve Human Corpse for Probable Revival in Near Future
  • Space Odyssey Dream with Exciting Developments in Cryogenic Fluid Management

Key Questions Answered:

  • How is the Global Cryogenic Equipment Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Air Liquide SA, Ebara Corporation, Chart Industries, Inc., and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitor Profiles:

  • Air Liquide SA
  • Ebara Corporation
  • Chart Industries, Inc.
  • Barber-Nichols, Inc.
  • Custom BioGenic Systems
  • Advanced Research Systems, Inc.
  • Cryomech, Inc.
  • Cryostar SAS
  • Beijing Tianhai Industry Co., Ltd.
  • Cryofab Inc.
  • Brymill Cryogenic Systems
  • Cosmodyne, LLC
  • CeramTec North America Corp.
  • Cryolor SA
  • Air Products Inc.

MarketGlass Platform

The report is enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.


Key Attributes:

Report AttributeDetails
No. of Pages441
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$13.9 Billion
Forecasted Market Value (USD) by 2030$22.1 Billion
Compound Annual Growth Rate6.8%
Regions CoveredGlobal



Key Topics Covered:

1. MARKET OVERVIEW

  • Influencer Market Insights
  • Cryogenic Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • A Prelude to Cryogenic Equipment
  • Global Market Prospects and Outlook
  • Steadfast Demand for Liquid & Medical Gases to Drive the Cryogenic Equipment Market Post COVID-19 Pandemic
  • Global Cryogenic Equipment Market: Prominent Drivers & Restraints
  • Cryogenic Tanks Reign Supreme in Cryogenic Equipment Market
  • Liquid Nitrogen Emerges as the Leading Segment
  • LNG Segment to Witness the Fastest Growth
  • Asia-Pacific Dominates the Cryogenic Equipment Market
  • Energy and Power Sector to Dominate the Cryogenic Equipment Market
  • An Insight into the Use of Cryogenic Equipment in Other Industries
  • Metallurgy Industries
  • Chemicals
  • Automotive and Mechanical Engineering
  • Food Industry
  • Construction Industry
  • Medicine and Pharmaceutics
  • Defense Industries and Space Advancements
  • Oil and Gas Industry
  • Other Industries

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

  • World Recent Past, Current & Future Analysis for Nitrogen by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Nitrogen by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Nitrogen by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Oxygen by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Oxygen by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Oxygen by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Argon by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World Historic Review for Argon by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Argon by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for LNG by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for LNG by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for LNG by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Other Cryogens by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Other Cryogens by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Other Cryogens by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Energy & Power by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Energy & Power by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Energy & Power by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Chemicals by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Chemicals by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Chemicals by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Metallurgy by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Metallurgy by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Metallurgy by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Electronics by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Electronics by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Electronics by Geographic Region - Percentage Breakdown of Value Sales for Years 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Shipping by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Shipping by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Shipping by Geographic Region - Percentage Breakdown of Value Sales for 2014, 2024 & 2030
  • World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Other End-Uses by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • World Cryogenic Equipment Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
  • World Recent Past, Current & Future Analysis for Cryogenic Equipment by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • World Historic Review for Cryogenic Equipment by Geographic Region - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
  • World 16-Year Perspective for Cryogenic Equipment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030

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