세계의 극저온 기기 시장 : 제품 유형(밸브·탱크·기화기·펌프·기타), 지역별 예측(-2032년)

Market Overview

In 2023, the market size of cryogenic equipment was estimated to be USD 13,077.9 million. In the forecast period (2024-2032), the Global Cryogenic Equipment industry is expected to experience a compound annual growth rate (CAGR) of 6.59%, increasing from USD 13,894.0 Million in 2024 to USD 23,232.9 Million by 2032.

The Cryogenic Equipment Market is being driven by the growing demand for low-temperature operations in industries such as metal processing, healthcare, and culinary technology.

The demand for liquefied natural gas (LNG) has increased because of the increased use of LNG fuel in transportation and the increased utilization of gas-based power plants. Cryogenic equipment, including oil tankers, valves, vaporizers, compressors, and refrigerators, is increasingly utilized in the oil and gas sector because of the increasing energy demand from LNG-powered plants. Storage and transportation are facilitated by the chilling of underground gas reserves to approximately -162°C, which is the process by which LNG is produced. Hydrogen, an additional cryogenic gas, can be generated from renewable sources and sources such as LNG through water electrolysis. When maintained at a low temperature, cryogenic gases are liquid and can be stored in smaller containers.

Nevertheless, they undergo a phase transition to gas when the temperature rises, which requires appropriate insulation and pressure considerations in the design of apparatus. To safeguard both the environment and individuals, safety regulations are implemented. The equipment that is employed to handle chilled gases is collectively referred to as cryogenic equipment.

Market segment insights

The Cryogenic Equipment Market has been segmented into Valve, Tank, Vaporizer Pumps, and Others (pipes, regulators, refrigerators, storage dewars, strainers, samplers, heat exchangers, leak detection equipment, dispensers, and accessories) based on the product type.

Regional Perspectives

The cryogenic equipment market in North America is anticipated to expand at a compound annual growth rate (CAGR) of 6.35% from 2023 to the year 2032. North America, particularly the United States and Canada, is a significant player in the aerospace and healthcare sectors, which rely heavily on cryogenic apparatus. Rocket propulsion systems, satellite technologies, and space exploration initiatives are among the numerous applications of cryogenic apparatus in the aerospace industry.

Europe is currently experiencing substantial economic expansion because of the advancements in industrial infrastructure. Although slightly lower than the growth rates of Asia-Pacific and North America, the region is expected to experience robust development with a Compound Annual Growth Rate (CAGR) of 6.79% between 2023 and 2032. The modernization of Germany's healthcare sector, advancements in the Liquefied Natural Gas (LNG) infrastructure in Europe, and the endeavors of European countries to achieve net-zero emissions are the primary factors driving this growth. The demand for LNG and hydrogen cryogenic equipment is anticipated to rise as a result of these factors.

The Asia-Pacific region, which is the largest cryogenic equipment market, is also expected to experience the most rapid growth from 2023 to 2032. China and Japan are the primary factors fueling this demand, with India following closely behind. The demand for cryogenic apparatus in this region is primarily driven by the necessity for LNG, amid an increasing emphasis on the adoption of low-carbon technologies in transportation and industry.

Major Players

Chart Industries, Air Liquide, Nikkiso Co., Ltd., Cryofab Inc., Air Products and Chemicals, Inc., INOX India Limited, Parker Hannifin Corp., Flowserve Corporation, Linde plc, SHI Cryogenics Group, and numerous other companies are among the major market participants.

TABLE OF CONTENTS

1 EXECUTIVE SUMMARY

• 1.1 KEY HIGHLIGHTS

2 MARKET INTRODUCTION

• 2.1 DEFINITION
• 2.2 SCOPE OF THE STUDY
• 2.3 RESEARCH OBJECTIVE
• 2.4 MARKET STRUCTURE

3 RESEARCH METHODOLOGY

• 3.1 OVERVIEW
• 3.2 DATA FLOW
  • 3.2.1 DATA MINING PROCESS
• 3.3 PURCHASED DATABASE:
• 3.4 SECONDARY SOURCES:
  • 3.4.1 SECONDARY RESEARCH DATA FLOW:
• 3.5 PRIMARY RESEARCH:
  • 3.5.1 PRIMARY RESEARCH DATA FLOW:
  • 3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
  • 3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
• 3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
  • 3.6.1 CONSUMPTION & NET TRADE APPROACH
  • 3.6.2 REVENUE ANALYSIS APPROACH
• 3.7 DATA FORECASTING
  • 3.7.1 DATA FORECASTING TECHNIQUE
• 3.8 DATA MODELING
  • 3.8.1 MICROECONOMIC FACTOR ANALYSIS:
  • 3.8.2 DATA MODELING:
• 3.9 TEAMS AND ANALYST CONTRIBUTION

4 MARKET DYNAMICS

• 4.1 INTRODUCTION
• 4.2 DRIVERS
  • 4.2.1 GROWING DEMAND FOR LNG AND HYDROGEN TO BOOST MARKET GROWTH
  • 4.2.2 HIGH DEMAND FOR GASES FROM THE METALLURGY SECTOR
• 4.3 RESTRAINTS
  • 4.3.1 VOLATILITY IN PRICES OF STAINLESS-STEEL MAY RESTRICT MARKET GROWTH
• 4.4 OPPORTUNITY
  • 4.4.1 EVOLVING ELECTRONICS APPLICATIONS REQUIRING CRYOGENIC GASES
  • 4.4.2 RISE IN SPACE AND SATELLITE APPLICATIONS
• 4.5 CHALLENGES
  • 4.5.1 CRYOGEN LEAKAGE FROM EQUIPMENT LEADING TO HEALTH HAZARDS
  • 4.5.2 INCREASED ADOPTIONS OF ELECTRIC VEHICLES MAY HURT CNG, LNG AND HYDROGEN DEMAND

5 MARKET LANDSCAPE

• 5.1 INTRODUCTION
• 5.2 REGULATIONS GOVERNING CRYOGENIC GAS EQUIPMENT
• 5.3 SUPPLY CHAIN ANALYSIS
  • 5.3.1 PARTICIPANTS (AT DIFFERENT NODES)
    • 5.3.1.1 RAW MATERIAL SUPPLIERS
    • 5.3.1.2 CRYOGENIC EQUIPMENT MANUFACTURERS
    • 5.3.1.3 GAS SUPPLIERS
    • 5.3.1.4 END-USERS
• 5.4 IMPACT ANALYSIS OF COVID-19 ON GLOBAL CRYOGENIC EQUIPMENT MARKET
• 5.5 IMPACT ANALYSIS OF RUSSIA AND UKRAINE WAR ON GLOBAL CRYOGENIC EQUIPMENT MARKET
• 5.6 ASIA-PACIFIC DOMINATE THE MARKET

6 GLOBAL CRYOGENIC EQUIPMENT MARKET, BY PRODUCT TYPE

• 6.1 INTRODUCTION
  • 6.1.1 VALVE
  • 6.1.2 TANKS
  • 6.1.3 VAPORIZER
  • 6.1.4 PUMPS
  • 6.1.5 OTHERS

7 GLOBAL CRYOGENIC EQUIPMENT MARKET, BY REGION

• 7.1 OVERVIEW
• 7.2 NORTH AMERICA
  • 7.2.1 US
  • 7.2.2 CANADA
• 7.3 EUROPE
  • 7.3.1 GERMANY
  • 7.3.2 UK
  • 7.3.3 ITALY
  • 7.3.4 FRANCE
  • 7.3.5 RUSSIA
  • 7.3.6 REST OF EUROPE
• 7.4 ASIA PACIFIC
  • 7.4.1 CHINA
  • 7.4.2 JAPAN
  • 7.4.3 INDIA
  • 7.4.4 SOUTH KOREA
  • 7.4.5 AUSTRALIA
  • 7.4.6 REST OF ASIA PACIFIC
• 7.5 LATIN AMERICA
  • 7.5.1 BRAZIL
  • 7.5.2 ARGENTINA
  • 7.5.3 MEXICO
  • 7.5.4 REST OF LATIN AMERICA
• 7.6 MIDDLE EAST & AFRICA
  • 7.6.1 SAUDI ARABIA
  • 7.6.2 UAE
  • 7.6.3 SOUTH AFRICA
  • 7.6.4 REST OF THE MIDDLE EAST & AFRICA

8 COMPETITIVE LANDSCAPE

• 8.1 INTRODUCTION
• 8.2 COMPETITION DASHBOARD
• 8.3 MARKET SHARE OF KEY CRYOGENIC EQUIPMENT IN 2023 (%)
• 8.4 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS
• 8.5 CRYOGENIC EQUIPMENT MARKET: KEY DEVELOPMENTS/NEWS
• 8.6 RELATED REPORTS