The Cryogenic Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Cryogenic Equipment Market?
The Cryogenic Equipment Global Market Report has shown substantial growth in earlier years. The market size is forecasted to escalate from $21.14 billion in 2024 to $22.91 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 8.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Cryogenic Equipment Industry?
The Cryogenic Equipment Global Market Report 2025 predicts that by 2029, the market will be worth $33.13 billion, growing at a compound annual growth rate (CAGR) of 9.7%.
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What are the Key Growth Drivers Fueling the Cryogenic Equipment Market?
The key drivers in the cryogenic equipment market are:
• Growing needs in electronics manufacturing and food and beverage industry
• Increasing requirements in aerospace and defense, renewable energy storage and environmental sustainability
• Development of the hydrogen economy, biotechnology, and medical advancements
• Use of cryogenic cooling solutions for semiconductor manufacturing, food preservation, and cryopreservation and stem cell banking.
Global Market Segmentation: Identifying Major Cryogenic Equipment Industry Segments
The cryogenic equipment market covered in this report is segmented –
1) By Equipment: Tanks, Valves, Vaporizers, Pumps, Other Equipment
2) By Cryogen: Nitrogen, Argon, Oxygen, LNG, Hydrogen, Helium, Other Cryogens
3) By Application: Storage, Transportation, Processing, Other Applications
4) By End-User: Energy And Power, Chemicals, Metallurgy, Electronics, Shipping, Other End Users
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What are the Emerging Trends Shaping the Future of the Cryogenic Equipment Market?
The key trends in the infertility treatment market are:
• The development of the hydrogen economy is a noteworthy emerging trend.
• Biotechnology and medical advances are having a profound influence on the market.
• Cryogenic cooling solutions for semiconductor manufacturing processes are increasingly shaping the future.
• The use of cryogenic systems for food freezing and preservation, and cryopreservation and stem cell banking are significant upcoming trends.
Who Are the Top Competitors & Leading Players in the Cryogenic Equipment Market?
Major companies in the cryogenic equipment market are:
• Air Liquide S.A.
• Beijing Tianhai Industry Co. Ltd.
• Chart Industries Inc.
• Emerson Electric Co.
• Flowserve Corporation
• Herose GmbH
• Inoxca India Ltd.
• Linde plc
• Taylor Wharton International LLC
• Wessington Cryogenics Ltd.
• ACME Cryogenics Inc.
• Graham Partners Inc.
• Honeywell International Inc.
• McDermott International Inc.
• Nikkiso Cryo Inc.
• Sumitomo Heavy Industries Ltd.
• Parker Hannifin Corporation
• SHI Cryogenics Group
• Sulzer Ltd.
• PHPK Technologies
• INOX India Pvt. Ltd.
• Fives SAS
• Cryofab Inc.
• Canadian Nuclear Laboratories
• CCH Equipment Company
• Chase Research Cryogenics Ltd.
• Clark Industries Inc.
Regional Dominance: Which Area Leads the Global Cryogenic Equipment Market?
Asia-Pacific was the largest region in the cryogenic equipment market in 2024
