Rising adoption of cryogenic gases in end user applications, increasing demand for power and energy are some of the factors fueling the market. However, cryogen leakage is one of the key challenges tthe market growth.
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Global Cryogenic Equipment market is accounted for $15.32 billion in 2015 and is expected treach $24.98 billion by 2022 growing at a CAGR of 7.23%.
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Natural Gas segment accounted for the largest share in the market during the forecast period owing tsupportive government initiatives. Oxygen gas is expected tregister the highest CAGR during the forecast period.
The growth is attributed tits applications in end user industries. Asia Pacific accounted for the largest share in the market owing tlarge investments in energy sector.
Moreover, Europe is estimated tregister the highest CAGR.
Some of the key players in Cryogenic Equipment market include Graham Partners, Inc, Wessington Cryogenics Ltd., Linde Group AG, Cryoquip LLC., Beijing Tianhai Industry Co., Ltd., VRV S.P.A, Herose GmbH, Cryofab Inc., Taylor-Wharton International LLC., Chart Industries Inc., INOX India Ltd., Flowserve Corporation, Parker Hannifin India Pvt Ltd, Air Liquide S.A.,, Emerson Electric Company and Shell-N-Tube Pvt. Ltd.
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Product Types Covered:
Vacuum Jacketed Piping (VJP)
End Users Covered:
Food & Beverage
Oil & Gas
Energy & Power
Cryogen Types Covered:
Liquefied Natural Gas
Rest of Europe
Rest of Asia Pacific
Rest of the World
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