| Product Code: ETC13196437 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Sumit Sagar | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Cryogenic Equipment Market was valued at USD 23 Billion in 2024 and is expected to reach USD 31 Billion by 2031, growing at a compound annual growth rate of 3.70% during the forecast period (2025-2031).
The Global Cryogenic Equipment Market is witnessing significant growth driven by the increasing demand for liquefied natural gas (LNG) and the expanding industrial gas industry. Cryogenic equipment, such as tanks, valves, pumps, and vaporizers, is crucial for the storage and transportation of cryogenic liquids at extremely low temperatures. The market is also being propelled by the rising adoption of cryogenic technologies in healthcare, electronics, and food processing industries. Additionally, advancements in energy storage solutions and the growing focus on renewable energy sources are creating new opportunities for cryogenic equipment manufacturers. Key players in the market include Chart Industries, Air Liquide, Linde plc, and Cryofab among others. The market is expected to continue its growth trajectory in the coming years, driven by increasing investments in infrastructure development and the expansion of the LNG value chain.
The Global Cryogenic Equipment Market is experiencing significant growth driven by increasing demand from industries such as healthcare, electronics, and energy. The adoption of cryogenic equipment for applications like medical storage, liquefied natural gas (LNG) production, and semiconductor manufacturing is fueling market expansion. Additionally, the growing focus on sustainable energy solutions is creating opportunities for cryogenic equipment in the storage and transportation of hydrogen and renewable energy sources. Technological advancements, such as the development of more efficient and cost-effective cryogenic systems, are further propelling market growth. As the need for reliable and efficient cooling solutions rises across various sectors, the Global Cryogenic Equipment Market is poised for continued expansion and innovation.
The Global Cryogenic Equipment Market faces several challenges including the high initial investment cost associated with cryogenic equipment, which can be a barrier for smaller companies looking to enter the market. Additionally, the complex design and maintenance requirements of cryogenic equipment can pose challenges for operators in terms of ensuring proper functioning and safety. Another challenge is the need for specialized training for personnel handling cryogenic equipment due to the potential hazards involved with working at extremely low temperatures. Furthermore, strict regulations and safety standards governing the use of cryogenic equipment can also impact market growth and innovation. Overall, addressing these challenges will be crucial for the sustained growth and development of the Global Cryogenic Equipment Market.
The global cryogenic equipment market is primarily driven by the growing demand for liquefied natural gas (LNG) across various industries such as energy, healthcare, and food processing. The increasing use of LNG as a cleaner and more efficient fuel source, coupled with the expanding applications of cryogenic equipment in the medical field for storing biological samples and in the food industry for quick freezing processes, is boosting market growth. Additionally, the rising investments in infrastructure development for LNG production and distribution, especially in emerging economies, are further propelling the demand for cryogenic equipment. Technological advancements leading to the development of more efficient and cost-effective cryogenic systems are also driving market expansion as industries seek to enhance their operational efficiencies and reduce carbon emissions.
Government policies related to the Global Cryogenic Equipment Market primarily focus on safety regulations, environmental standards, and trade policies. Safety regulations emphasize the proper handling, storage, and transportation of cryogenic equipment to ensure the protection of workers and the public. Environmental standards aim to reduce emissions and promote sustainable practices in the production and use of cryogenic equipment. Trade policies, including tariffs and import/export regulations, play a significant role in shaping the market dynamics by influencing pricing, competition, and market accessibility for manufacturers and suppliers. Overall, government policies in various countries impact the growth and development of the Global Cryogenic Equipment Market by setting standards, ensuring compliance, and facilitating trade agreements to support industry growth and innovation.
The Global Cryogenic Equipment Market is poised for steady growth in the coming years, driven by increasing demand from various end-use industries such as healthcare, electronics, and energy. The market is expected to expand further with the growing adoption of cryogenic technology for applications like storage and transportation of liquefied gases, food freezing, and metal processing. Technological advancements in cryogenic equipment, such as improved insulation materials and energy-efficient designs, are likely to enhance market growth. Additionally, the rising focus on reducing carbon emissions and achieving sustainability goals is expected to drive the demand for cryogenic equipment in the industrial sector. Overall, the Global Cryogenic Equipment Market is anticipated to witness significant growth opportunities and innovation in the near future.
In the Global Cryogenic Equipment Market, each region offers unique opportunities and challenges. Asia is a key player in the market due to the increasing demand for industrial gases in countries like China and India. North America boasts a strong presence of key market players and advanced technology adoption. Europe is characterized by strict government regulations promoting the use of eco-friendly cryogenic equipment. The Middle East and Africa region is experiencing growth in the healthcare and pharmaceutical sectors, driving the demand for cryogenic equipment. Latin America is witnessing a rise in applications across various industries, including healthcare, food processing, and electronics. Overall, the global cryogenic equipment market is expected to witness significant growth across all regions, driven by increasing industrialization and technological advancements.
Global Cryogenic Equipment Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Cryogenic Equipment Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Cryogenic Equipment Market Revenues & Volume, 2021 & 2031F |
3.3 Global Cryogenic Equipment Market - Industry Life Cycle |
3.4 Global Cryogenic Equipment Market - Porter's Five Forces |
3.5 Global Cryogenic Equipment Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Cryogenic Equipment Market Revenues & Volume Share, By Product Types, 2021 & 2031F |
3.7 Global Cryogenic Equipment Market Revenues & Volume Share, By Cryogen , 2021 & 2031F |
3.8 Global Cryogenic Equipment Market Revenues & Volume Share, By End-user, 2021 & 2031F |
3.9 Global Cryogenic Equipment Market Revenues & Volume Share, By Application , 2021 & 2031F |
4 Global Cryogenic Equipment Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Cryogenic Equipment Market Trends |
6 Global Cryogenic Equipment Market, 2021 - 2031 |
6.1 Global Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Cryogenic Equipment Market, Revenues & Volume, By Tanks, 2021 - 2031 |
6.1.3 Global Cryogenic Equipment Market, Revenues & Volume, By Valves, 2021 - 2031 |
6.1.4 Global Cryogenic Equipment Market, Revenues & Volume, By Vaporizers, 2021 - 2031 |
6.1.5 Global Cryogenic Equipment Market, Revenues & Volume, By Pumps, 2021 - 2031 |
6.1.6 Global Cryogenic Equipment Market, Revenues & Volume, By Pipe, 2021 - 2031 |
6.2 Global Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Cryogenic Equipment Market, Revenues & Volume, By Nitrogen, 2021 - 2031 |
6.2.3 Global Cryogenic Equipment Market, Revenues & Volume, By Oxygen, 2021 - 2031 |
6.2.4 Global Cryogenic Equipment Market, Revenues & Volume, By Liquefied Natural Gas, 2021 - 2031 |
6.2.5 Global Cryogenic Equipment Market, Revenues & Volume, By Argon, 2021 - 2031 |
6.2.6 Global Cryogenic Equipment Market, Revenues & Volume, By Other Cryogens, 2021 - 2031 |
6.3 Global Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Cryogenic Equipment Market, Revenues & Volume, By Energy & Power, 2021 - 2031 |
6.3.3 Global Cryogenic Equipment Market, Revenues & Volume, By Chemicals, 2021 - 2031 |
6.3.4 Global Cryogenic Equipment Market, Revenues & Volume, By Metallurgical, 2021 - 2031 |
6.3.5 Global Cryogenic Equipment Market, Revenues & Volume, By Electronics, 2021 - 2031 |
6.4 Global Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Cryogenic Equipment Market, Revenues & Volume, By Storage, 2021 - 2031 |
6.4.3 Global Cryogenic Equipment Market, Revenues & Volume, By Distribution, 2021 - 2031 |
7 North America Cryogenic Equipment Market, Overview & Analysis |
7.1 North America Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
7.2 North America Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
7.4 North America Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
7.5 North America Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
7.6 North America Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
8 Latin America (LATAM) Cryogenic Equipment Market, Overview & Analysis |
8.1 Latin America (LATAM) Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
8.4 Latin America (LATAM) Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
8.5 Latin America (LATAM) Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
8.6 Latin America (LATAM) Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
9 Asia Cryogenic Equipment Market, Overview & Analysis |
9.1 Asia Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
9.4 Asia Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
9.5 Asia Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
9.6 Asia Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
10 Africa Cryogenic Equipment Market, Overview & Analysis |
10.1 Africa Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
10.4 Africa Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
10.5 Africa Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
10.6 Africa Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
11 Europe Cryogenic Equipment Market, Overview & Analysis |
11.1 Europe Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
11.4 Europe Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
11.5 Europe Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
11.6 Europe Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
12 Middle East Cryogenic Equipment Market, Overview & Analysis |
12.1 Middle East Cryogenic Equipment Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Cryogenic Equipment Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Cryogenic Equipment Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Cryogenic Equipment Market, Revenues & Volume, By Product Types, 2021 - 2031 |
12.4 Middle East Cryogenic Equipment Market, Revenues & Volume, By Cryogen , 2021 - 2031 |
12.5 Middle East Cryogenic Equipment Market, Revenues & Volume, By End-user, 2021 - 2031 |
12.6 Middle East Cryogenic Equipment Market, Revenues & Volume, By Application , 2021 - 2031 |
13 Global Cryogenic Equipment Market Key Performance Indicators |
14 Global Cryogenic Equipment Market - Export/Import By Countries Assessment |
15 Global Cryogenic Equipment Market - Opportunity Assessment |
15.1 Global Cryogenic Equipment Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Cryogenic Equipment Market Opportunity Assessment, By Product Types, 2021 & 2031F |
15.3 Global Cryogenic Equipment Market Opportunity Assessment, By Cryogen , 2021 & 2031F |
15.4 Global Cryogenic Equipment Market Opportunity Assessment, By End-user, 2021 & 2031F |
15.5 Global Cryogenic Equipment Market Opportunity Assessment, By Application , 2021 & 2031F |
16 Global Cryogenic Equipment Market - Competitive Landscape |
16.1 Global Cryogenic Equipment Market Revenue Share, By Companies, 2024 |
16.2 Global Cryogenic Equipment Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |