How Has the Cryogenic Transportation Services Market Evolved Historically and What is its Current Size?
The cryogenic transportation services market has seen considerable growth due to a variety of factors.
• The cryogenic transportation services market has experienced steady growth in recent years. It will rise from $9.35 billion in 2024 to $10.01 billion in 2025, with a CAGR of 7.1%.
This growth is driven by the rising demand for biopharmaceuticals, expanding international trade, stricter government regulations, the increasing use of medical gases, and broader industrial applications.
What Is The Projected Growth Of The Cryogenic Transportation Services Template Market?
The cryogenic transportation services market is expected to maintain its strong growth trajectory in upcoming years.
• The cryogenic transportation services market is expected to experience strong growth, reaching $13 billion by 2029 at a CAGR of 6.8%.
Growth drivers include the expansion of life sciences and healthcare, growth in the food and beverage sector, increased LNG export capacity, and growing environmental awareness. Key trends include enhanced safety protocols, integration of green energy, improved logistics solutions, advancements in cold storage tanks, and better transportation systems.
What Are The Key Drivers Fueling Growth In The Cryogenic Transportation Services Market?
The increased use of industrial gases is expected to drive the growth of the cryogenic transportation services market. Industrial gases are essential for various manufacturing processes and sectors, enhancing efficiency and supporting innovation. Cryogenic transportation services are used to safely transport gases at extremely low temperatures to maintain their liquid state for bulk distribution. For example, in June 2024, the Australian Department of Industry, Science, and Resources reported that the manufacturing sector consumed 380 petajoules (PJ) of gas, representing 26% of Australia’s total domestic gas supply, marking an increase from the previous year’s consumption. Therefore, the rising use of industrial gases will support the growth of the cryogenic transportation services market.
What Are The Principal Market Segments In The Global Cryogenic Transportation Services Industry?
The cryogenic transportation services market covered in this report is segmented –
1) By Type: Trailer Transportation, Truck Transportation
2) By Cryogen Type: Nitrogen, Oxygen, Natural Gas, Argon, Other Cryogen Types
3) By Application: Chemicals, Drugs, Biological Specimens, Industrial Gases, Other Applications
Subsegments:
1) By Trailer Transportation: Cryogenic Tanker Trailers, Cryogenic Liquid Gas Transport Trailers, Multi-Compartment Cryogenic Trailers, Insulated And Refrigerated Cryogenic Trailers
2) By Truck Transportation: Cryogenic Liquid Gas Trucks, Insulated Cryogenic Trucks, Cryogenic Delivery Trucks For Industrial Gases, Specialized Temperature-Controlled Cryogenic Trucks
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What Emerging Trends Are Influencing The Growth Of The Cryogenic Transportation Services Market?
Companies in the cryogenic transportation services market are innovating with cryogenic multi-use dewars to enhance efficiency and safety in transporting cryogenic fluids. Cryogenic multi-use dewars are containers designed for transporting liquids like nitrogen at extremely low temperatures. In April 2024, CSafe launched the CGT Cryo Series, featuring reusable dewars and high-impact-resistant shipping cases for transporting biologic materials, regenerative medicine, and other critical cryogenic goods.
Who Are the Key Players In The Cryogenic Transportation Services Market?
Major companies operating in the cryogenic transportation services market are:
• United Parcel Service Inc.
• Linde plc
• Kenan Advantage Group Inc.
• Marken Ltd.
• McCollister Transportation Group Inc
• FIBA Technologies Inc.
• New England Cryogenic Center Inc.
• Autosped G Inc.
• GenOx Transportation Inc.
• Wessington Cryogenics Ltd.
• COREX Logistics Inc.
• Applied Cryo Technologies Inc.
• LGT Transport Inc.
• Hingham Moving & Storage Inc.
• US Cryo Carriers Inc.
• Pacific CA Systems Inc.
• Chart Ferox a.s.
• Krison Engineering Works Pvt. Ltd.
• Super Cryogenic Systems Private Limited
• Herose Limited
What Are The Regional Insights Into The Cryogenic Transportation Services Market?
North America was the largest region in the cryogenic transportation services market in 2023. The regions covered in the cryogenic transportation services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
