JERSEY CITY, N.J., Feb. 5, 2021
- The growing investments toward the expansion of existing manufacturing facilities, coupled with supportive government systems across developing economies and the growing number of projects of integrated gasification, blended cycle, clean coal, and gas to liquids processes are contributing to the industry growth.
JERSEY CITY, N.J., Feb. 5, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps), by Cryogen (Nitrogen, Argon, Oxygen, LNG), by End-User (Energy & power, Chemicals, Metallurgy, Electronics, Shipping), and by Geography". According to Verified Market Research, the Global Cryogenic Equipment Market was valued at USD 12.22 Billion in 2020 and is projected to reach USD 18.73 Billion by 2027, growing at a CAGR of 6.29% from 2021 to 2027.
Download PDF Brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=105807
Browse in-depth TOC on "Cryogenic Equipment Market"
202 - Pages
126 – Tables
37 – Figures
Global Cryogenic Equipment Market Overview
The global cryogenic equipment market is predominantly driven by the growing investments toward the expansion of existing manufacturing facilities, coupled with supportive government systems across developing economies. The increasing Foreign Direct Investment (FDI) inflows, coupled with enhanced domestic investments toward the establishment of new industrial facilities will also increase product adoption. Besides, growing LNG demand and increasing healthcare services in developing countries are also supporting the market growth. Moreover, continuous efforts to decrease GHG emissions driven by frequently stringent legislative requirements will feed the global market growth. For example, the European Union has set a mark to decrease GHG emissions by 40% compared to the 1990 levels by 2030, thereby driving increased use of cryogenics from natural gas.
The growing number of projects of integrated gasification, blended cycle, clean coal, and gas to liquids processes are also contributing to the industry growth. Furthermore, as of 2019, several countries in the world have designed to phase out coal-based energy to reduce the greenhouse gas effect on the environment. For the above circumstances, various countries started decreasing the usage of coal and increases using natural gas for energy and power generation. Gas is more convenient to be transported in liquefied natural gas (LNG) form that involves various segments of cryogenic equipment such as tanks and is expected to drive the market during the forecast period.
The major players in the market are Linde plc (Ireland), Chart Industries (US), Parker Hannifin (US), Flowserve Corporation (US), Emerson (US), Air Products (US), INOXCVA (India), Taylor Wharton (Japan), Cryofab (US), and Wessington (UK).
Verified Market Research has segmented the Global Cryogenic Equipment Market On the basis of Equipment, Cryogen, End-User, and Geography.
Browse Related Reports:
Metal Casting Market by Material (Aluminum, Iron, Steel), by Application (Automotive & Transportation, Building & Construction, Industrial), Geography, Forecast, 2020-2027
Drill Pipe Market by Grade (API Grade and Premium Grade), by End User (Onshore and Offshore), Geography, Forecast, 2019-2026
Multimeter Market by Product Type (Handheld, Benchtop, Mounted), by Application (Residential, Commercial, Industrial, Consumer Electronics, Automotive, Manufacturing), Geography, Forecast, 2020-2027
Mooring Systems Market by Product Type (Spread Mooring, Single Point Mooring, Dynamic Positioning, Tendons & Tension Mooring), by Application (Tension Leg Platforms, Semi-Submersible Platforms, Drill Ships, SPAR Platforms, FPSO), Geography, Forecast, 2020-2027
Top 10 offshore drilling companies embarking on the journey for a better tomorrow
Visualize Cryogenic Equipment Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.
Mr. Edwyne Fernandes
Verified Market Research
US: +1 (650)-781-4080
UK: +44 (203)-411-9686
APAC: +91 (902)-863-5784
US Toll Free: +1 (800)-782-1768
Follow Us: LinkedIn | Twitter