1. Home
  2. > Chemical
  3. > Specialty Chemical
  4. > Industrial Gases Market Trends
Cryogenic Equipment Global Market Report 2022

Cryogenic Equipment Global Market Report 2022

  • August 2022
  • 175 pages
  • ID: 6311703
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the cryogenic equipment market are Air Liquide, Beijing Tianhai Industry Co.Ltd, Chart Industries Inc., Emerson Electric Co., Flowserve Corporation, Herose GmbH, INOXCVA, Linde plc, Taylor Wharton, VRV S.p.A., Wessington Cryogenics, ACME Cryogenics, Graham Partners, Honeywell International Inc., McDermott International Inc, Nikkiso Cryo Inc, and Sumitomo Heavy Industries Ltd.

The cryogenic equipment market consists of the sale of cryogenic equipment by entities (organizations, sole traders, and partnerships) that are used in the production of very low-temperature materials or processes. The cryogenic equipment is designed to reach ultra-low temperatures ranging from -238 °F (-150° C, 123.2 K°) to absolute zero at a slow rate to prevent thermal shock to the components being treated. Cryogenic equipment is used in the storage and transportation of liquefied gases, preservation of food, cryosurgery, superconducting electromagnets, etc.

The main types of cryogenic equipment are tanks, valves, vaporizers, pumps, and other equipment.Cryogenic tanks are ideal for storing huge amounts of gas in liquid forms, such as liquid oxygen, liquid nitrogen, argon, carbon dioxide, LNG, LPG, and liquid hydrogen, among others.

The various cryogens are nitrogen, argon, oxygen, LNG, hydrogen, helium, and other cryogens. Cryogenic equipment is used for storage, transportation, processing, and other applications by different end-users such as energy and power, chemicals, metallurgy, electronics, shipping, and other end users.

Asia Pacific was the largest region in the cryogenic equipment market in 2021. The regions covered in the cryogenic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The cryogenic equipment market research report is one of a series of new reports that provides cryogenic equipment market statistics, including cryogenic equipment industry global market size, regional shares, competitors with a cryogenic equipment market share, detailed cryogenic equipment market segments, market trends and opportunities, and any further data you may need to thrive in the cryogenic equipment industry. This cryogenic equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for liquified natural gas is expected to drive the cryogenic equipment market.Liquified natural gas is a natural gas that is cooled to a liquid state at -260-degree Fahrenheit and is used in various day-to-day activities such as cooking, generating electricity, heating homes, manufacturing fertilizers, and so on.

The increased demand for LNG is driven by a rise in demand from domestic and industrial users and the continuing shift from coal to natural gas to generate electricity.Cryogenic equipment is used to transport liquified natural gas from one place to another in the form of storage tanks, vaporizers, and containers.

According to EIA, the U.S energy information administration, only four nations supplied the US with 49.2 billion cubic feet of LNG in 2020. It accounts for around 2% of total natural gas imports into the United States. Furthermore, according to the National Energy Administration China, a coordinating agency of the State Council of China, China’s total LNG receiving capacity in 2021 is nearly 105.8 million mt/year and is expected to receive 127 million mt/year in 2022. The increasing demand for LNG is expected to increase the demand for cryogenic equipment and hence drive the market.

Technological advancement has been a major trend in the cryogenic equipment market.Companies in cryogenic equipment are investing in developing new technologies to provide enhanced products to their customers.

For instance, in June 2020, Cytiva, a US-based biopharma company, developed and optimized the first liquid nitrogen-free cryogenic shipment technology for the shipment of cellular treatments and cryopreserved apheresis.The VIA Capsule system, designed by cryobiologists, consists of a Stirling cryocooler that cools the shipper unit before shipment and provides extended temporary cryogenic storage when attached to a power supply.

When detached from its power supply, its internal thermal core provides five days of passive standby, with an LCD interface displaying the time remaining at cryogenic temperature and the current temperature of the shipment. The device also includes a smart monitor that automatically uploads temperature, condition, and location data to a dashboard in the Chronicle software platform in real-time.

In February 2021, Chart Industries, Inc, a US-based manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets acquired Cryogenic Gas Technologies for $55 million in cash.Through this acquisition, Chart and Cryo Technologies will provide a one-stop shop for customers that wish to liquefy and sell hydrogen, independent of plant capacity, but need an experienced and dependable liquefaction and storage equipment and process supplier.

They will bring together technology and fabrication capabilities in super insulation, vacuum systems, and helium leak detection, all of which are critical for producing the finest quality and most efficient hydrogen and helium liquefaction systems. Cryogenic Gas Technologies is a US-based provider of custom-engineered process systems to separate, purify, refrigerate, liquefy and distribute high-value industrial gases such as hydrogen, helium, argon, and hydrocarbons with design skills for cold boxes for hydrogen and helium consumption at a global level.

The countries covered in the cryogenic equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Argon Gas Market Growth Opportunities, 2023 - Market Insights, Mega Trends, Companies, and Forecasts to 2030

  • $ 4880
  • November 2022
  • 170 pages

Argon Gas market outlook The Argon Gas Market analysis and outlook report presents forecasts by Type, Application, country, and companies. The Argon Gas market outlook report is a comprehensive study of ...

  • World
  • Europe
  • Industrial Gases
  • Industry analysis

Cryogenic Boxes Market $ 5000 November 2022


ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on