How big is the cryogenic pump market | Global Market Size & Forecast

Q: What was the market size of the cryogenic pump market in 2025 and projected for 2031?

Cryogenic pump market size was USD 1.8 billion in 2025 and is projected to reach USD 3.2 billion by 2031.

Q: What are the primary drivers of the cryogenic pump market?

Primary drivers of cryogenic pump market include rising LNG demand, medical gas usage, industrial gas expansion, clean energy adoption, and space exploration growth.

Q: What is the expected CAGR of the cryogenic pump market during 2025–2031?

The cryogenic pump market is anticipated to grow at a CAGR of 8.5% from 2025 to 2031.

Q: What are the key trends in the cryogenic pump market?

Key trends of cryogenic pump market include increased automation, energy-efficient pump designs, modular systems, and integration of digital technologies.

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Code: MTA5510

Publication Date: Jul 2025

What is the Cryogenic pump Market Size?

According to 6Wresearch internal database and industry insights, Global Cryogenic pump market was valued at USD 1.8 billion in 2024 and is anticipated to exceedUSD 3.2 billion by 2031, registering a steady at aCAGR of 8.5% during the forecast period.

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This market is anticipated to experience significant momentum due to rising requirements across areas like energy, healthcare, and electronics. The rise in LNG production, growing space exploration missions, and extension of industrial gas usage are contributing to the marketâ€™s growth. In addition, the implementation of clean energy solutions and increasing demand for medical-grade gases are driving the need for advanced cryogenic handling systems.

Major Growth Factors of the Cryogenic pump Market

There has been a high demand for liquefied natural gas (LNG)
This market is experiencing growth in healthcare applications and medical gas usage
This market is expanding on grounds of industrial gas industry
Technological advancements in cryogenic systems
Increasing space exploration and aerospace applications
There has been shift in this market toward clean and renewable energy sources
Infrastructure development in emerging economies

Cryogenic pump Market Trends

Cryogenic pump market is experiencing augmented incorporation of mechanization and digital monitoring technologies for operational competence. The industry is shifting toward modular and compact pump designs to meet diverse industrial requirements. There is also a notable surge in demand for eco-friendly and energy-efficient systems that align with global sustainability goals.

Emerging Developments in the Cryogenic pump Market

Cryogenic pump market is undergoing innovation in terms of material advancements for better durability and temperature resistance. Companies are focusing on R&D for high-capacity pumps and improved insulation technology. Collaborative ventures among key players and public-private partnerships are boosting market penetration in new regions and applications.