Cryogenic pump market is anticipated to grow at a CAGR of 9.1% during the forecast period (2024-2031). The increase in demand for cryogenic pumps across multiple end-use industries, including power generation and healthcare is one of the prime factors that drives the growth of the global market. Moreover, complex industrial processes incorporate the use of liquid gases, thus fueling the demand for cryogenic pumps at a rapid pace. In addition, an increase in demand for energy and power is expected to drive the overall demand for LNG, thus arrangements to handle its transportation boosts the cryogenic pump market growth.
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In terms of efficiency, cryogenic pumps are considered a more viable option. Therefore, industries mostly prefer cryogenic pumps for their needs in the chemical and petrochemical sectors. Taking into consideration the need for gas extraction in chemical and petrochemical plants and the efficiency of cryogenic pumps, the government is supporting the use of cryogenic pumps. Various governments across the globe have understood the importance of gas extraction and have devised new policies to encourage factories to incubate cryogenic pumps. Along with this, the government has also declared subsidies and other financial benefits to the manufacturers and distributors of cryogenic pumps. This is proving to be an excellent step by the governing authority to cater to the needs of the chemical and petrochemical industry. With this, there are plenty of opportunities for manufacturers, distributors, and vendors of cryogenic pumps on the global platform.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Cryogenic Pump Market by Type
- Centrifugal Pumps
- Positive Displacement Pumps
- Kinetic Pumps
- Entrapment Pumps
Global Cryogenic Pump Market by Gas
- Nitrogen
- Hydrogen
- Helium
- LNG
Global Cryogenic Pump Market by End-Use Industry
- Healthcare Industry
- Energy & Power Generation Industry
- Electricals & Electronics Industry
- Metallurgy Industry
- Chemicals
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Beijing Long March Tianmin Hi-Tech Co. Ltd
- Flowserve Corp
- GemmeCotti Srl
- HSR AG
- KSB SE & Co. KGaA
- PBS Velká Bíteš
- PHPK Technologies Inc.
- Ruhrpumpen Group
- SHI Cryogenics Group
- Sulzer Ltd
- Sumitomo Heavy Industries Ltd
- Technex Group
- TRILLIUM FLOW TECHNOLOGIES™
- Vanzetti Engineering S.p.A.
- Weir Group PLC
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cryogenic pump market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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