Cryogenic Pump Market Insights with statistics and Growth Prediction 2018 to 2021

The global cryogenic pump market is expected to reach USD 1.96 Billion by 2021, at a CAGR of 3.28% from 2016 to 2021. Increasing focus on gas-based generation and growing demand for medical gases are expected to drive the cryogenic pump market. Cryogenic pumps are employed to create, withstand, and operate in temperatures which are in the range of -120°C or below. They are used for refrigeration by using cryogenic gases such as nitrogen, helium, and argon among others. The global cryogenic pump market has been segmented on the basis of type, cryogenic gases, end-user, and region. In the cryogenic pump market, by end-user, the energy & power segment is expected to lead the market during the forecast period.

The leading players in the industry, based on their recent developments and other strategic industrial activities, include Sumitomo Heavy Industries Ltd. (Japan), Ebara Corporation (Japan), Flowserve Corporation (U.S.), Fives S.A. (France), and Brooks Automation Inc. (U.S.). Contracts and agreements was the most commonly used strategy by top players in the market, constituting half of the total developments share. It was followed by expansions and mergers & acquisitions.

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Scope of the Report:

The report segments the market on the basis of type, cryogenic gases, end-user, and region.

By Type

• Centrifugal
• Positive Displacement

By Cryogenic Gases

• Nitrogen
• Oxygen
• Argon
• LNG
• Others

By End-User

• Energy & Power
• Metallurgy
• Chemicals
• Electronics
• Others

By Region

• Asia-Pacific
• Europe
• North America
• South America
• The Middle East
• Africa

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Research Methodology

The cryogenic pump market valuation for various segments has been arrived by using cryogenic pump implementations in various regions and planned investments of operators. Finally, the global market size has been arrived at by consolidating markets of individual regions. Industry experts have also been contacted for validating the key findings of the report, in order to estimate the market appropriately. Individual responses and the viewpoints have been carefully studied and incorporated in the report. The market numbers have also been validated by both the top-down and bottom-up estimation approaches. In the top-down approach, regional and segmental markets have been derived from the parent market, considering the share of the segments. On the other hand, in the bottom-up approach, individual segment/regional market has been added to arrive at the final parent market.

Stakeholders:

This report includes the following stakeholders:

• Cryogenic pump manufacturers, dealers, and suppliers
• Cryogenic gases/liquid merchant producers, suppliers, and dealers
• Cryogenic plant developers and service providers
• Liquefied Natural Gas (LNG) dealers
• Oil & gas companies
• Consulting companies in the energy and power sector
• Cryogenic and cold storage associations
• Power and energy associations
• Investment banks

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Asia-Pacific region held the majority of market share in 2014, followed by Europe and North America. In terms of individual countries, Qatar and India are expected to show high growth potential in 2016. This growth can be attributed to increasing investments in the infrastructure sector in Qatar and growing focus towards renewable-based electricity generation in India. Asia-Pacific houses major LNG importers such as China, India, and Japan along with some of the key importers of natural gas. Hence, the region is expected to dominate the global demand for cryogenic pumps during the forecast period.

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