Cryogenic Equipment Market Report 2026

Cryogenic Equipment Market Overview

• Cryogenic Equipment market size has reached to $22.7 billion in 2025 • Expected to grow to $35.33 billion in 2030 at a compound annual growth rate (CAGR) of 9.2% • Growth Driver: Healthcare Sector Expansion Fuels The Growth Of The Cryogenic Equipment Market • Market Trend: Cole-Parmer’S Cryo-Blade Enhances Cryogenic Sample Processing And Preparation • Asia-Pacific was the largest region in 2025.

What Is Covered Under Cryogenic Equipment Market?

Cryogenic equipment is equipment used for producing substances at very low temperatures. Cryogenic equipment is used in the storage and transportation of liquefied gases, the preservation of food, cryosurgery, superconducting electromagnets, and others. The main types of cryogenic equipment are tanks, valves, vaporizers, pumps, and other equipment. Cryogenic tanks are ideal for storing huge amounts of gas in liquid forms, such as liquid oxygen, liquid nitrogen, argon, carbon dioxide, LNG, LPG, and liquid hydrogen, among others. The various cryogens are nitrogen, argon, oxygen, LNG, hydrogen, helium, and other cryogens. Cryogenic equipment is used for storage, transportation, processing, and other applications by different end-users, such as energy and power, chemicals, metallurgy, electronics, shipping, and other end users.

What Is The Cryogenic Equipment Market Growth Forecast?

The cryogenic equipment market size is expected to see strong growth in the next few years. It will grow to $35.33 billion in 2030 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing investments in hydrogen energy infrastructure, rising demand for superconducting and cryogenic research systems, expansion of semiconductor manufacturing, growing focus on low-loss energy storage, increasing adoption of cryogenic solutions in clean energy projects. Major trends in the forecast period include increasing demand for lng and hydrogen cryogenic systems, rising deployment of energy-efficient cryogenic storage solutions, growing use of cryogenic equipment in electronics manufacturing, expansion of cryogenic applications in healthcare and research, enhanced focus on safety and thermal efficiency.

Global Cryogenic Equipment Market Segmentation

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 Subsegments: 1) By Tanks: Vertical Tanks, Horizontal Tanks, Cryogenic Storage Tanks 2) By Valves: Cryogenic Globe Valves, Cryogenic Gate Valves, Cryogenic Check Valves, Cryogenic Ball Valves 3) By Vaporizers: Ambient Vaporizers, Heated Vaporizers, Steam Vaporizers 4) By Pumps: Cryogenic Centrifugal Pumps, Cryogenic Positive Displacement Pumps, Submersible Cryogenic Pumps 5) By Other Equipment: Transfer Hoses, Safety Equipment, Pressure Regulators, Insulation Materials

What Is The Driver Of The Cryogenic Equipment Market?

The rise in demand for liquefied natural gas (LNG) is significantly contributing to the growth of the cryogenic equipment market going forward. Liquefied natural gas (LNG) is a form of natural gas that has been cooled down to a liquid state, which is more convenient and secure to transfer. Cryogenic equipment and tanks are used to store and transport liquefied natural gas (LNG) from producers to customers safely and easily. For instance, in 2025, according to data released by the International Energy Agency (IEA), a France-based intergovernmental organization, the global LNG supply grew by 2% (or 6 bcm) year over year through the 2024-25 heating season. Therefore, a rise in demand for liquefied natural gas (LNG) will drive the cryogenic equipment industry.

Key Players In The Global Cryogenic Equipment Market

Major companies operating 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., Nikkiso Cryo Inc., Sumitomo Heavy Industries Ltd., Parker Hannifin Corporation, SHI Cryogenics Group, Sulzer Ltd., INOX India Pvt. Ltd., Fives SAS, Cryofab Inc., Shell-n-Tube Pvt. Ltd., Chase Research Cryogenics Ltd.

Global Cryogenic Equipment Market Trends and Insights

Major companies operating in the cryogenic equipment market are innovating new products, such as Cryo-Blade, to increase their profitability in the market. The Cryo-Blade is an incredibly powerful cryogenic grinder created for processing and preparing samples in a variety of scientific and research applications. For instance, in May 2023, Cole-Parmer Instrument Company, a US-based instrumentation company, launched Cryo-Blade. This groundbreaking tool enables the pulverization of samples for further examination by combining the advantages of cryogenic temperature control with effective grinding capabilities. Researchers can easily pulverize samples for additional analysis in a controlled and automated way thanks to the Cryo-Blade, which provides a dependable and effective option for cryogenic sample preparation and processing. It is an important instrument in laboratories and research institutions due to its high processing capacity and flexible use.

What Are Latest Mergers And Acquisitions In The Cryogenic Equipment Market?

In March 2023, Chart Industries, a US-based manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets, acquired Howden for $4.4 billion. Through this acquisition chart, Industries aimed to enhance its technological capabilities and expand its portfolio in cryogenic and energy transition technologies, particularly focusing on hydrogen and LNG applications. Howden is a UK-based engineering equipment manufacturer.

Regional Outlook

Asia-Pacific was the largest region in the cryogenic equipment market in 2025. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Cryogenic Equipment Market?

The cryogenic equipment market consists of sale of cryogenic storage racks and boxes, cryogenic refrigerators, temperature controllers, cryogenies accessories and cryogenic tanks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.