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Global Cryogenic Pump Market Share, Size, Demand, Research: By Type: Positive Displacement Pumps, Centrifugal Pumps; By Gas: Nitrogen, Argon, Liquid Natural Gas (LNG), Oxygen, Others; By End Use Industry: Healthcare Industry, Others; Regional Analysis; Market Dynamics; Competitive Landscape: Industry Events and Developments; 2022-2027

Global Cryogenic Pump Market Outlook

The global cryogenic pump market size reached an approximate valuation of USD 1.92 billion in 2021. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 5.90% to reach USD 2.7 billion by 2027.

 

Growing Demand for Pumping of High Viscosity Fluids is Driving the Global Cryogenic Pump Industry

Positive displacement pumps offer accurate dosing along with high pressure output. Hence, these pumps are widely adopted for pumping fluids that have high levels of viscosity, these include various oils resins, paints, as well as foods. Also, positive displacement pumps remain unaffected by pressure, which makes them applicable in situations where there is an irregular supply. These pumps are also utilised for applications that involve the usage of high viscosity fluids including thick oils and slurries.

 

Moreover, positive displacement pumps can be of different types which have been designed to serve special purposes, which is a driving factor. For instance, the piston pump is based on the concept of positive displacement and is used in high pressure washing, oil production, and paint spraying.

 

The Asia Pacific Region Accounts for a Substantial Share in the Market for Cryogenic Pumps

The market in the region is being driven by the factors such as strong economic growth of emerging countries, increasing demand for LNG fuel in domestic applications, and transition towards renewable electricity generation. In addition, the thriving power generation sector in the region, fuelled by the increasing demand for power from the industrial sector is anticipated to aid the cryogenic pump market growth.

 

Cryogenic pumps are crucial in the cooling of small and large laboratory equipment. In this regard, the product is likely to witness a high demand which can be attributed to the growing research and development activities in test laboratories.

 

Market Segmentation

A cryogenic pump is defined as a high-vacuum pump which condenses and captures different gases on surfaces cooled to temperatures below 120 K. Cryopumps are capable of pumping all gases, including noble gases, at sufficiently low temperatures. Cryogenic pumps offer absolute cleanliness and oil-free conditions in various end use industries.

 

Based on type, the market can be segmented into:

  • Positive Displacement Pumps
  • Centrifugal Pumps

 

The market can be broadly categorised based on gas into:

  • Nitrogen
  • Argon
  • Liquid Natural Gas (LNG)
  • Oxygen
  • Others

 

The significant end user industries for the cryogenic pump market are as follows:

  • Healthcare Industry
  • Electrical and Electronics Industry
  • Power Generation Industry
  • Metallurgy Industry
  • Others

 

The regional markets for the product include North America, the Asia Pacific, Europe, Latin America, and the Middle East and Africa.

 

Increasing Applications in the Electrical and Electronics Sector to Boost the Growth of the Cryogenic Pump Industry

The increasing application of cryogenic pumps in the electrical and electronics sector for cooling of magnets in superconductors is driving the cryogenic pump market. The expansion of superconductors, fuelled by the advancements in cryogenic engineering, is furthering the demand for the product. The increasing demand for centrifugal pumps for postcardiotomy mechanical assistance in the healthcare sector is likely to be a major driving factor of the market.

 

Cryogenic pumps are also used in hospitals and ambulatory surgical centres for transportation of medical gases. Over the forecast period, the growing needs for ultra-high vacuum pumps for scientific and engineering research purposes is likely to propel the demand for cryogenic pumps. This is owing to its reliability, cleanliness, and high speed of pumping.

 

There is an increasing demand for ultra-high vacuum in the healthcare industry for various surface analytical techniques such as thermal desorption spectroscopy and X-ray photoelectron spectroscopy, among others. This is anticipated to provide impetus to the market in the coming years.

 

Key Players in the Global Cryogenic Pump Market

The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Nikkiso Cryogenic LLC
  • Sulzer Ltd.
  • The Weir Group PLC
  • Fives Group
  • Atlas Copco AB
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Gas
  • End Use Industry
  • Region
Breakup by Type
  • Positive Displacement Pumps
  • Centrifugal Pumps
Breakup by Gas
  • Nitrogen
  • Argon
  • Liquid Natural Gas (LNG)
  • Oxygen
  • Others
Breakup by End Use Industry
  • Healthcare Industry
  • Power Generation Industry
  • Electrical and Electronics Industry
  • Metallurgy Industry
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nikkiso Cryogenic LLC
  • Sulzer Ltd.
  • The Weir Group PLC
  • Fives Group
  • Atlas Copco AB
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Cryogenic Pump Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cryogenic Pump Historical Market (2017-2021) 
    8.3    Global Cryogenic Pump Market Forecast (2022-2027)
    8.4    Global Cryogenic Pump Market by Type
        8.4.1    Positive Displacement Pumps
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Centrifugal Pumps
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Cryogenic Pump Market by Gas
        8.5.1    Nitrogen
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Argon
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Liquid Natural Gas (LNG)
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2017-2021)
            8.5.3.3    Forecast Trend (2022-2027)
        8.5.4    Oxygen
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2017-2021)
            8.5.4.3    Forecast Trend (2022-2027)
        8.5.5    Others
    8.6    Global Cryogenic Pump Market by End Use Industry
        8.6.1    Healthcare Industry
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2017-2021)
            8.6.1.3    Forecast Trend (2022-2027)
        8.6.2    Power Generation Industry
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2017-2021)
            8.6.2.3    Forecast Trend (2022-2027)
        8.6.3    Electrical and Electronics Industry
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2017-2021)
            8.6.3.3    Forecast Trend (2022-2027)
        8.6.4    Metallurgy Industry
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2017-2021)
            8.6.4.3    Forecast Trend (2022-2027)
        8.6.5    Others
    8.7    Global Cryogenic Pump Market by Region       
        8.7.1    North America
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2017-2021) 
            8.7.1.3    Forecast Trend (2022-2027)
        8.7.2    Europe
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2017-2021) 
            8.7.2.3    Forecast Trend (2022-2027)
        8.7.3    Asia Pacific
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2017-2021) 
            8.7.3.3    Forecast Trend (2022-2027)
        8.7.4    Latin America
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2017-2021) 
            8.7.4.3    Forecast Trend (2022-2027)
        8.7.5    Middle East and Africa
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2017-2021) 
            8.7.5.3    Forecast Trend (2022-2027)
9    North America Cryogenic Pump Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2017-2021) 
        9.1.3    Forecast Trend (2022-2027)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2017-2021) 
        9.2.3    Forecast Trend (2022-2027)
10    Europe Cryogenic Pump Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2017-2021) 
        10.1.3    Forecast Trend (2022-2027)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2017-2021) 
        10.2.3    Forecast Trend (2022-2027)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2017-2021) 
        10.3.3    Forecast Trend (2022-2027)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2017-2021) 
        10.4.3    Forecast Trend (2022-2027)
    10.5    Others
11    Asia Pacific Cryogenic Pump Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2017-2021) 
        11.1.3    Forecast Trend (2022-2027)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2017-2021) 
        11.2.3    Forecast Trend (2022-2027)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2017-2021) 
        11.3.3    Forecast Trend (2022-2027)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2017-2021) 
        11.4.3    Forecast Trend (2022-2027)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2017-2021) 
        11.5.3    Forecast Trend (2022-2027)
    11.6    Others
12    Latin America Cryogenic Pump Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2017-2021) 
        12.1.3    Forecast Trend (2022-2027)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2017-2021) 
        12.2.3    Forecast Trend (2022-2027)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2017-2021) 
        12.3.3    Forecast Trend (2022-2027)
    12.4    Others
13    Middle East and Africa Cryogenic Pump Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2017-2021) 
        13.1.3    Forecast Trend (2022-2027)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2017-2021) 
        13.2.3    Forecast Trend (2022-2027)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2017-2021) 
        13.3.3    Forecast Trend (2022-2027)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2017-2021) 
        13.4.3    Forecast Trend (2022-2027)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Nikkiso Cryogenic LLC
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Sulzer Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    The Weir Group PLC
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Fives Group
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Atlas Copco AB
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global Cryogenic Pump Market: Key Industry Highlights, 2017 and 2027
2.    Global Cryogenic Pump Historical Market: Breakup by Type (USD Million), 2017-2021
3.    Global Cryogenic Pump Market Forecast: Breakup by Type (USD Million), 2022-2027
4.    Global Cryogenic Pump Historical Market: Breakup by Gas (USD Million), 2017-2021
5.    Global Cryogenic Pump Market Forecast: Breakup by Gas (USD Million), 2022-2027
6.    Global Cryogenic Pump Historical Market: Breakup by End Use Industry (USD Million), 2017-2021
7.    Global Cryogenic Pump Market Forecast: Breakup by End Use Industry (USD Million), 2022-2027
8.    Global Cryogenic Pump Historical Market: Breakup by Region (USD Million), 2017-2021
9.    Global Cryogenic Pump Market Forecast: Breakup by Region (USD Million), 2022-2027
10.    North America Cryogenic Pump Historical Market: Breakup by Country (USD Million), 2017-2021
11.    North America Cryogenic Pump Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Europe Cryogenic Pump Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Europe Cryogenic Pump Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Asia Pacific Cryogenic Pump Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Asia Pacific Cryogenic Pump Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Latin America Cryogenic Pump Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Latin America Cryogenic Pump Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Middle East and Africa Cryogenic Pump Historical Market: Breakup by Country (USD Million), 2017-2021
19.    Middle East and Africa Cryogenic Pump Market Forecast: Breakup by Country (USD Million), 2022-2027
20.    Global Cryogenic Pump Market Structure

Key Questions Answered in the Report

In 2021, the global market was estimated to hold a value of nearly USD 1.92 billion.

The market is expected to grow at a steady CAGR of 5.90% between 2022 and 2027.

The increasing preference of towards ultra-high vacuum pumps in scientific research and engineering sector, is likely to be a key trend in the market.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 2.7 billion by 2027.

The major regions in the industry are the Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe.

The major drivers influencing the growth of the market include the increasing demand for superconductors in the electrical and electronics industry, rising application of centrifugal pumps in the healthcare sector, and rising demand for positive displacement pumps for high viscosity fluids.

Positive displacement pumps and centrifugal pumps are the different types considered in the market report.

Nitrogen, argon, liquid natural gas (LNG), and oxygen, among others is the segmentation of market based on gas.

The power generation industry, healthcare industry, electrical and electronics industry, and metallurgy industry, among others are the significant end user industries included in the market report.

The major players in the industry are Nikkiso Cryogenic LLC, Sulzer Ltd., The Weir Group PLC, Fives Group, and Atlas Copco AB, among others.

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