용적식 극저온 펌프 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2024-2032년)

Growth Factors of positive displacement cryogenic pump Market

The global positive displacement cryogenic pump market continues to gain momentum due to rising demand for LNG, liquid hydrogen, and industrial cryogenic gases across major industries. According to the latest analysis, the market was valued at USD 997.39 million in 2024, supported by strong LNG infrastructure development, medical gas handling, and hydrogen economy expansion. The market is expected to increase to USD 1,084.30 million in 2025, driven by new LNG terminals, advancements in cryogenic material processing, and technological improvements. By 2032, the market will reach USD 1,997.30 million, expanding at a robust CAGR of 9.12% during the forecast period.

Positive displacement cryogenic pumps are essential for transferring liquefied gases at extremely low temperatures. Their ability to deliver precise, high-pressure flow makes them indispensable in LNG refueling, liquid hydrogen handling, aerospace operations, and industrial gas cylinder filling. Key global manufacturers such as Nikkiso Co., Ltd., SHI Cryogenics Group, Flowserve, Ingersoll Rand, and Alfa Laval continue to invest in high-performance designs and advanced cryogenic material technologies.

Market Drivers

Rising Global Demand for LNG

The worldwide shift toward cleaner fuel sources is significantly increasing LNG consumption in power generation, marine transport, and industrial applications. Positive displacement cryogenic pumps are ideal for high-pressure LNG transfer, small-scale regasification, and LNG bunkering systems. As countries build new LNG import/export terminals, these pumps are becoming central to modern cryogenic infrastructure. In January 2024, Waukesha Cherry-Burrell launched its U2 ND positive displacement pump series, designed for industrial LNG applications, supporting market expansion.

Market Restraints

High Initial and Maintenance Costs

These pumps require highly engineered components to withstand extreme cryogenic temperatures, including advanced seals, specialized alloys, and thermal insulation. As a result, upfront investment is relatively high compared to centrifugal systems. Maintenance can also be expensive due to wear from thermal cycling, seal stress, and mechanical fatigue. These factors limit adoption among small and mid-sized operators.

Market Opportunities

Growing Utilization in Aerospace Applications

Positive displacement cryogenic pumps play a critical role in handling liquid hydrogen (LH2) and liquid oxygen (LOX)-key rocket propellants. With rising global investments in commercial spaceflight, satellite launches, and lunar/mars missions, cryogenic fluid infrastructure is expanding rapidly. In August 2024, Graham Corporation secured over USD 65 million in cryogenic pump-related aerospace contracts, highlighting increasing demand within the space industry.

Market Trends

Technological Advancements Enhance Pump Efficiency

Innovation in materials, seal-less technologies, magnetically coupled drives, and IoT-enabled monitoring are transforming the positive displacement cryogenic pump landscape. Smart sensors now enable predictive maintenance, reducing costly downtime. Additionally, magnetically coupled designs eliminate leakage risks and minimize maintenance-critical for hydrogen, oxygen, and high-purity cryogenic gases. As industries demand precision, safety, and efficiency, these advancements are accelerating pump adoption.

Segmentation Analysis

By Type

Reciprocating pumps dominate due to their ability to deliver high pressures required in LNG injection, hydrogen fueling, and gas-cylinder filling. Rotary pumps serve low-to-medium pressure needs such as LNG transfer and storage systems.

By Cryogen Type

Nitrogen leads the market in metallurgy, electronics, pharmaceuticals, and food processing sectors. Liquid oxygen shows the fastest growth due to rising medical demand and metal fabrication processes. LNG remains a key driver due to the global clean-fuel transition.

By End-User

The oil and gas industry holds the largest share, supported by LNG terminals, midstream infrastructure, and regasification units. Metallurgy is the fastest-growing due to increasing usage of nitrogen, oxygen, and argon in steelmaking and thermal treatments.

Regional Outlook

Asia Pacific - Market Leader (USD 418.26 million, 2024)

Asia Pacific dominates the market due to massive LNG import capacity, hydrogen development programs, and rapid industrialization in China, India, Japan, and South Korea. Large investments in LNG terminals, hydrogen fuel-cell networks, and industrial gas production continue to accelerate demand for positive displacement cryogenic pumps.

North America

The U.S. remains a global LNG export leader with expanding liquefaction plants and hydrogen hubs. Strong industrial gas demand across healthcare, metal processing, and electronics boosts pump adoption.

Europe

Green hydrogen investments and rapid LNG infrastructure expansion fuel steady demand for cryogenic pumps across the region.

Conclusion

With market value rising from USD 997.39 million (2024) to USD 1,997.30 million (2032), the positive displacement cryogenic pump market will continue its strong growth trajectory. LNG expansion, hydrogen infrastructure, medical gas demand, and aerospace advancements are expected to keep the industry thriving through 2032.

Segmentation

By Type

• Reciprocating Pumps
• Rotary Pumps

By Cryogen Type

• Nitrogen
• Oxygen
• Argon
• Liquefied Natural Gas
• Others

By End-User

• Oil and Gas
• Metallurgy
• Power Generation
• Chemical and Petrochemical
• Marine
• Others

By Region

• North America (By Type, By Cryogen Type, By End-User, By Country)
  • U.S. (By End-User)
  • Canada (By End-User)
• Europe (By Type, By Cryogen Type, By End-User, By Country)
  • U.K. (By End-User)
  • Germany (By End-User)
  • France (By End-User)
  • Italy (By End-User)
  • Spain (By End-User)
  • Russia (By End-User)
  • Rest of Europe (By End-User)
• Asia Pacific (By Type, By Cryogen Type, By End-User, By Country)
  • China (By End-User)
  • India (By End-User)
  • Japan (By End-User)
  • Australia (By End-User)
  • South East Asia (By End-User)
  • Rest of Asia Pacific (By End-User)
• Latin America (By Type, By Cryogen Type, By End-User, By Country)
  • Brazil (By End-User)
  • Mexico (By End-User)
  • Rest of Latin America (By End-User)
• Middle East and Africa (By Type, By Cryogen Type, By End-User, By Country)
  • GCC (By End-User)
  • South Africa (By End-User)
  • Rest of the Middle East and Africa (By End-User)

Table of Content

1. Introduction

• 1.1. Research Scope
• 1.2. Market Segmentation
• 1.3. Research Methodology
• 1.4. Definitions & Assumptions

2. Executive Summary

3. Market Dynamics

• 3.1. Market Drivers
• 3.2. Market Restraints
• 3.3. Market Opportunities
• 3.4. Market Trends

4. Key Insights

• 4.1. Key Emerging Trends - For Major Countries
• 4.2. Latest Technological Advancement
• 4.3. Insight on Regulatory Landscape
• 4.4. Porters Five Forces Analysis
• 4.5. Impact of Tariffs on the Positive Displacement Cryogenic Pump Market

5. Global Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 5.1. Key Findings
• 5.2. Market Analysis, Insights, and Forecast - By Type
  • 5.2.1. Reciprocating Pumps
  • 5.2.2. Rotary Pumps
• 5.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 5.3.1. Nitrogen
  • 5.3.2. Oxygen
  • 5.3.3. Argon
  • 5.3.4. Liquefied Natural Gas
  • 5.3.5. Others
• 5.4. Market Analysis, Insights, and Forecast - By End-User
  • 5.4.1. Oil and Gas
  • 5.4.2. Metallurgy
  • 5.4.3. Power Generation
  • 5.4.4. Chemical and Petrochemical
  • 5.4.5. Marine
  • 5.4.6. Others
• 5.5. Market Analysis, Insights, and Forecast - By Region
  • 5.5.1. North America
  • 5.5.2. Europe
  • 5.5.3. Asia Pacific
  • 5.5.4. Latin America
  • 5.5.5. Middle East and Africa

6. North America Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 6.1. Key Findings
• 6.2. Market Analysis, Insights, and Forecast - By Type
  • 6.2.1. Reciprocating Pumps
  • 6.2.2. Rotary Pumps
• 6.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 6.3.1. Nitrogen
  • 6.3.2. Oxygen
  • 6.3.3. Argon
  • 6.3.4. Liquefied Natural Gas
  • 6.3.5. Others
• 6.4. Market Analysis, Insights, and Forecast - By End-User
  • 6.4.1. Oil and Gas
  • 6.4.2. Metallurgy
  • 6.4.3. Power Generation
  • 6.4.4. Chemical and Petrochemical
  • 6.4.5. Marine
  • 6.4.6. Others
• 6.5. Market Analysis, Insights, and Forecast - By Country
  • 6.5.1. U.S. Market Analysis, Insights, and Forecast - By End-User
    • 6.5.1.1. Oil and Gas
    • 6.5.1.2. Metallurgy
    • 6.5.1.3. Power Generation
    • 6.5.1.4. Chemical and Petrochemical
    • 6.5.1.5. Marine
    • 6.5.1.6. Others
  • 6.5.2. Canada Market Analysis, Insights, and Forecast - By End-User
    • 6.5.2.1. Oil and Gas
    • 6.5.2.2. Metallurgy
    • 6.5.2.3. Power Generation
    • 6.5.2.4. Chemical and Petrochemical
    • 6.5.2.5. Marine
    • 6.5.2.6. Others

7. Europe Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 7.1. Key Findings
• 7.2. Market Analysis, Insights, and Forecast - By Type
  • 7.2.1. Reciprocating Pumps
  • 7.2.2. Rotary Pumps
• 7.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 7.3.1. Nitrogen
  • 7.3.2. Oxygen
  • 7.3.3. Argon
  • 7.3.4. Liquefied Natural Gas
  • 7.3.5. Others
• 7.4. Market Analysis, Insights, and Forecast - By End-User
  • 7.4.1. Oil and Gas
  • 7.4.2. Metallurgy
  • 7.4.3. Power Generation
  • 7.4.4. Chemical and Petrochemical
  • 7.4.5. Marine
  • 7.4.6. Others
• 7.5. Market Analysis, Insights, and Forecast - By Country
  • 7.5.1. UK Market Analysis, Insights, and Forecast - By End-User
    • 7.5.1.1. Oil and Gas
    • 7.5.1.2. Metallurgy
    • 7.5.1.3. Power Generation
    • 7.5.1.4. Chemical and Petrochemical
    • 7.5.1.5. Marine
    • 7.5.1.6. Others
  • 7.5.2. Germany Market Analysis, Insights, and Forecast - By End-User
    • 7.5.2.1. Oil and Gas
    • 7.5.2.2. Metallurgy
    • 7.5.2.3. Power Generation
    • 7.5.2.4. Chemical and Petrochemical
    • 7.5.2.5. Marine
    • 7.5.2.6. Others
  • 7.5.3. France Market Analysis, Insights, and Forecast - By End-User
    • 7.5.3.1. Oil and Gas
    • 7.5.3.2. Metallurgy
    • 7.5.3.3. Power Generation
    • 7.5.3.4. Chemical and Petrochemical
    • 7.5.3.5. Marine
    • 7.5.3.6. Others
  • 7.5.4. Italy Market Analysis, Insights, and Forecast - By End-User
    • 7.5.4.1. Oil and Gas
    • 7.5.4.2. Metallurgy
    • 7.5.4.3. Power Generation
    • 7.5.4.4. Chemical and Petrochemical
    • 7.5.4.5. Marine
    • 7.5.4.6. Others
  • 7.5.5. Spain Market Analysis, Insights, and Forecast - By End-User
    • 7.5.5.1. Oil and Gas
    • 7.5.5.2. Metallurgy
    • 7.5.5.3. Power Generation
    • 7.5.5.4. Chemical and Petrochemical
    • 7.5.5.5. Marine
    • 7.5.5.6. Others
  • 7.5.6. Russia Market Analysis, Insights, and Forecast - By End-User
    • 7.5.6.1. Oil and Gas
    • 7.5.6.2. Metallurgy
    • 7.5.6.3. Power Generation
    • 7.5.6.4. Chemical and Petrochemical
    • 7.5.6.5. Marine
    • 7.5.6.6. Others
  • 7.5.7. Rest of Europe Market Analysis, Insights, and Forecast - By End-User
    • 7.5.7.1. Oil and Gas
    • 7.5.7.2. Metallurgy
    • 7.5.7.3. Power Generation
    • 7.5.7.4. Chemical and Petrochemical
    • 7.5.7.5. Marine
    • 7.5.7.6. Others

8. Asia Pacific Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 8.1. Key Findings
• 8.2. Market Analysis, Insights, and Forecast - By Type
  • 8.2.1. Reciprocating Pumps
  • 8.2.2. Rotary Pumps
• 8.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 8.3.1. Nitrogen
  • 8.3.2. Oxygen
  • 8.3.3. Argon
  • 8.3.4. Liquefied Natural Gas
  • 8.3.5. Others
• 8.4. Market Analysis, Insights, and Forecast - By End-User
  • 8.4.1. Oil and Gas
  • 8.4.2. Metallurgy
  • 8.4.3. Power Generation
  • 8.4.4. Chemical and Petrochemical
  • 8.4.5. Marine
  • 8.4.6. Others
• 8.5. Market Analysis, Insights, and Forecast - By Country
  • 8.5.1. China Market Analysis, Insights, and Forecast - By End-User
    • 8.5.1.1. Oil and Gas
    • 8.5.1.2. Metallurgy
    • 8.5.1.3. Power Generation
    • 8.5.1.4. Chemical and Petrochemical
    • 8.5.1.5. Marine
    • 8.5.1.6. Others
  • 8.5.2. India Market Analysis, Insights, and Forecast - By End-User
    • 8.5.2.1. Oil and Gas
    • 8.5.2.2. Metallurgy
    • 8.5.2.3. Power Generation
    • 8.5.2.4. Chemical and Petrochemical
    • 8.5.2.5. Marine
    • 8.5.2.6. Others
  • 8.5.3. Japan Market Analysis, Insights, and Forecast - By End-User
    • 8.5.3.1. Oil and Gas
    • 8.5.3.2. Metallurgy
    • 8.5.3.3. Power Generation
    • 8.5.3.4. Chemical and Petrochemical
    • 8.5.3.5. Marine
    • 8.5.3.6. Others
  • 8.5.4. Australia Market Analysis, Insights, and Forecast - By End-User
    • 8.5.4.1. Oil and Gas
    • 8.5.4.2. Metallurgy
    • 8.5.4.3. Power Generation
    • 8.5.4.4. Chemical and Petrochemical
    • 8.5.4.5. Marine
    • 8.5.4.6. Others
  • 8.5.5. Southeast Asia Market Analysis, Insights, and Forecast - By End-User
    • 8.5.5.1. Oil and Gas
    • 8.5.5.2. Metallurgy
    • 8.5.5.3. Power Generation
    • 8.5.5.4. Chemical and Petrochemical
    • 8.5.5.5. Marine
    • 8.5.5.6. Others
  • 8.5.6. Rest of Asia-Pacific Market Analysis, Insights, and Forecast - By End-User
    • 8.5.6.1. Oil and Gas
    • 8.5.6.2. Metallurgy
    • 8.5.6.3. Power Generation
    • 8.5.6.4. Chemical and Petrochemical
    • 8.5.6.5. Marine
    • 8.5.6.6. Others

9. Latin America Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 9.1. Key Findings
• 9.2. Market Analysis, Insights, and Forecast - By Type
  • 9.2.1. Reciprocating Pumps
  • 9.2.2. Rotary Pumps
• 9.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 9.3.1. Nitrogen
  • 9.3.2. Oxygen
  • 9.3.3. Argon
  • 9.3.4. Liquefied Natural Gas
  • 9.3.5. Others
• 9.4. Market Analysis, Insights, and Forecast - By End-User
  • 9.4.1. Oil and Gas
  • 9.4.2. Metallurgy
  • 9.4.3. Power Generation
  • 9.4.4. Chemical and Petrochemical
  • 9.4.5. Marine
  • 9.4.6. Others
• 9.5. Market Analysis, Insights, and Forecast - By Country
  • 9.5.1. Brazil Market Analysis, Insights, and Forecast - By End-User
    • 9.5.1.1. Oil and Gas
    • 9.5.1.2. Metallurgy
    • 9.5.1.3. Power Generation
    • 9.5.1.4. Chemical and Petrochemical
    • 9.5.1.5. Marine
    • 9.5.1.6. Others
  • 9.5.2. Mexico Market Analysis, Insights, and Forecast - By End-User
    • 9.5.2.1. Oil and Gas
    • 9.5.2.2. Metallurgy
    • 9.5.2.3. Power Generation
    • 9.5.2.4. Chemical and Petrochemical
    • 9.5.2.5. Marine
    • 9.5.2.6. Others
  • 9.5.3. Rest of Latin America Market Analysis, Insights, and Forecast - By End-User
    • 9.5.3.1. Oil and Gas
    • 9.5.3.2. Metallurgy
    • 9.5.3.3. Power Generation
    • 9.5.3.4. Chemical and Petrochemical
    • 9.5.3.5. Marine
    • 9.5.3.6. Others

10. Middle East and Africa Positive Displacement Cryogenic Pump Market (USD Million) Analysis, Insights, and Forecast, 2019-2032

• 10.1. Key Findings
• 10.2. Market Analysis, Insights, and Forecast - By Type
  • 10.2.1. Reciprocating Pumps
  • 10.2.2. Rotary Pumps
• 10.3. Market Analysis, Insights, and Forecast - By Cryogen Type
  • 10.3.1. Nitrogen
  • 10.3.2. Oxygen
  • 10.3.3. Argon
  • 10.3.4. Liquefied Natural Gas
  • 10.3.5. Others
• 10.4. Market Analysis, Insights, and Forecast - By End-User
  • 10.4.1. Oil and Gas
  • 10.4.2. Metallurgy
  • 10.4.3. Power Generation
  • 10.4.4. Chemical and Petrochemical
  • 10.4.5. Marine
  • 10.4.6. Others
• 10.5. Market Analysis, Insights, and Forecast - By Country
  • 10.5.1. GCC Market Analysis, Insights, and Forecast - By End-User
    • 10.5.1.1. Oil and Gas
    • 10.5.1.2. Metallurgy
    • 10.5.1.3. Power Generation
    • 10.5.1.4. Chemical and Petrochemical
    • 10.5.1.5. Marine
    • 10.5.1.6. Others
  • 10.5.2. South Africa Market Analysis, Insights, and Forecast - By End-User
    • 10.5.2.1. Oil and Gas
    • 10.5.2.2. Metallurgy
    • 10.5.2.3. Power Generation
    • 10.5.2.4. Chemical and Petrochemical
    • 10.5.2.5. Marine
    • 10.5.2.6. Others
  • 10.5.3. Rest of MEA Market Analysis, Insights, and Forecast - By End-User
    • 10.5.3.1. Oil and Gas
    • 10.5.3.2. Metallurgy
    • 10.5.3.3. Power Generation
    • 10.5.3.4. Chemical and Petrochemical
    • 10.5.3.5. Marine
    • 10.5.3.6. Others

11. Competitive Analysis

• 11.1. Company Market Share Analysis, 2024
• 11.2. Company Profile
  • 11.2.1. HYDRO PROKAV PUMPS INDIA PRIVATE LIMITED
    • 11.2.1.1. Business Overview
    • 11.2.1.2. Product and Service Offerings
    • 11.2.1.3. Recent Developments
    • 11.2.1.4. Financials (Based on Availability)
  • 11.2.2. Ingersoll Rand
    • 11.2.2.1. Business Overview
    • 11.2.2.2. Product and Service Offerings
    • 11.2.2.3. Recent Developments
    • 11.2.2.4. Financials (Based on Availability)
  • 11.2.3. Alfa Laval
    • 11.2.3.1. Business Overview
    • 11.2.3.2. Product and Service Offerings
    • 11.2.3.3. Recent Developments
    • 11.2.3.4. Financials (Based on Availability)
  • 11.2.4. Grundfos
    • 11.2.4.1. Business Overview
    • 11.2.4.2. Product and Service Offerings
    • 11.2.4.3. Recent Developments
    • 11.2.4.4. Financials (Based on Availability)
  • 11.2.5. IDEX Corporation
    • 11.2.5.1. Business Overview
    • 11.2.5.2. Product and Service Offerings
    • 11.2.5.3. Recent Developments
    • 11.2.5.4. Financials (Based on Availability)
  • 11.2.6. Schlumberger Limited
    • 11.2.6.1. Business Overview
    • 11.2.6.2. Product and Service Offerings
    • 11.2.6.3. Recent Developments
    • 11.2.6.4. Financials (Based on Availability)
  • 11.2.7. The Weir Group
    • 11.2.7.1. Business Overview
    • 11.2.7.2. Product and Service Offerings
    • 11.2.7.3. Recent Developments
    • 11.2.7.4. Financials (Based on Availability)
  • 11.2.8. KSB
    • 11.2.8.1. Business Overview
    • 11.2.8.2. Product and Service Offerings
    • 11.2.8.3. Recent Developments
    • 11.2.8.4. Financials (Based on Availability)
  • 11.2.9. Sulzer Limited
    • 11.2.9.1. Business Overview
    • 11.2.9.2. Product and Service Offerings
    • 11.2.9.3. Recent Developments
    • 11.2.9.4. Financials (Based on Availability)
  • 11.2.10. Flowserve Corporation
    • 11.2.10.1. Business Overview
    • 11.2.10.2. Product and Service Offerings
    • 11.2.10.3. Recent Developments
    • 11.2.10.4. Financials (Based on Availability)
  • 11.2.11. Dover Corporation
    • 11.2.11.1. Business Overview
    • 11.2.11.2. Product and Service Offerings
    • 11.2.11.3. Recent Developments
    • 11.2.11.4. Financials (Based on Availability)
  • 11.2.12. Goulds Pumps
    • 11.2.12.1. Business Overview
    • 11.2.12.2. Product and Service Offerings
    • 11.2.12.3. Recent Developments
    • 11.2.12.4. Financials (Based on Availability)
  • 11.2.13. Blackmer
    • 11.2.13.1. Business Overview
    • 11.2.13.2. Product and Service Offerings
    • 11.2.13.3. Recent Developments
    • 11.2.13.4. Financials (Based on Availability)
  • 11.2.14. PCM
    • 11.2.14.1. Business Overview
    • 11.2.14.2. Product and Service Offerings
    • 11.2.14.3. Recent Developments
    • 11.2.14.4. Financials (Based on Availability)
  • 11.2.15. Seepex
    • 11.2.15.1. Business Overview
    • 11.2.15.2. Product and Service Offerings
    • 11.2.15.3. Recent Developments
    • 11.2.15.4. Financials (Based on Availability)