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Cryogenic Pump Market by Type, by Gas, by End-User, & by Region - Global Trends & Forecasts to 2021

Cryogenic Pump Market: Forecasts until 2021

  • March 2016
  • 136 pages
  • ID: 3756543
In this report:
Natural gas consumption in the country is expected to reach ##.## Bcf/d and ##.## Bcf/d in 2016 and 2017, respectively compared to ##.## Bcf/d in 2015, according to EIA, which is expected to increase gasbased generation.
According to BP Statistics, Australia is planning to expand its LNG supply to ## Bcf per day by 2018, and will account for approximately ##% of the global LNG production by 2030.


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"Cryogenic pump market is estimated to grow ~$2.0B by 2021."

The cryogenic pump market is forecasted to reach ~$2.0B by 2021, at a compound annual growth rate of ~3.3 percent from 2016 to 2021. Liquefied Natural Gas being a low emission fuel has been favored by several regulations due to environmental concerns. Therefrom, growing demand for gas-based generation has been boosting the market demand for cryogenic pumps. Additionally, end-use industries including energy & power, chemicals, metallurgy, and food & beverage are deploying cryogenic pumps for production and transportation of cryogenic liquids including LNG, nitrogen, oxygen, argon, and helium.

"Energy and power segment is the largest industry, by end-user"

The energy and power segment is the biggest end-user market. Cryogenic pumps are used to handle, store, transfer, and supply cryogenic gases including nitrogen, oxygen, argon, hydrogen, and LNG. These pumps find application in energy & power sector in LNG plants and LNG storage tanks. The recent rise in the LNG market, driven primarily by growth in gas-based generation, is likely to drive the industry demand for cryogenic pumps in the energy and power market.

"Asia Pacific (APAC) is the biggest market"

The Asia-Pacific area is forecast to lead the cryogenic pump market, with the biggest estimated market share in 2016, and is expected to grow at the second more significant Compound annual growth rate from 2016 to 2021. This increase can be accredited to the utilization of cryogenic pumps by countries such as india (IN), China (CN), and Australia (AU), among others. Market investments in the energy markets have grown considerable in the past 5 years, creating a huge demand for cryogenic pumps in the area. Futhermore, the territory is developing as the quickest increasing end-market for chemicals and electronics. The area houses the world's biggest steel industry, which would further boost the cryogenic pump market in the territory.

The primary participants for the industry report have been categorized on the basis of company type, description, and area. The details are like follows:

- By Company Type: Tier 1 - 50.0 percent, Tier 2 - 21.0 percent, and 1/3 3 - 29.0 percent

- By Description: C-suite - 38.0 percent, D-level - 29.0 percent, and Others- 33.0 percent

- By area: North america (NA) - 11.0 percent, Europe - 21.0 percent, Asia-Pacific - 36.0 percent, and rest of the world - 32.0 percent

Positive displacement is one of the emerging types of cryogenic pump as a result of its rising applications in different industries including shipbuilding, energy and power, food & beverage, and healthcare. This is the best solution for transporting liquefied gases including oxygen, nitrogen, helium, LNG, and argon. This industry segment is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period. The Middle East (ME) is a potential market for positive displacement cryogenic pumps due to its natural gas reserves and increasing food & beverage sector.

Why acquire this industry report?

1. The analysis determines and addresses main markets for cryogenic pump, which is useful for suppliers and Original equipment manufacturers to examine production and distribution plans.

2. The market research includes review of main countries by end-user application of cryogenic pumps; for example, its application in energy and power, chemicals, metallurgy, electronics, and others (infrastructure, healthcare, food & beverage, shipbuilding, and aerospace). It examines historical forecasts and also forecast for 2021, assisting in strategic decision making.

3. It presents competition by analyzing recent market developments including top contracts, business developments, and mergers & acquisitions from the main overall market actors. It helps understand the competition strategies and plan respective initiatives.

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