Cryogenic Pump Market

Cryogenic Pump market has witnessed significant growth over the years. Cryogenic pumps are used in several end-use industries, including oil and gas, power generation, chemical and petrochemical, and metallurgy. The demand for cryogenic pumps in the global market has also been boosted by increasing investments in the energy and power sector.  The semiconductor and electronics industries are also major consumers of these pumps. They require ultrahigh vacuums and high pumping speeds. For example, sputtering systems, which are used to produce micron-sized crystals on electronic devices, require a high pumping speed and a hydrocarbon-free ultrahigh vacuum.

Market Dynamics:

The increasing use of gases in the health care industry is also expected to contribute to the demand for cryogenic pumps, which is expected to augment growth of the global cryogenic pump market over the forecast period. Moreover, the rising focus on solar energy generation will also create huge opportunities for the industry.

However, volatility of raw material prices, and high cost related to cryogenic plants is expected to impede growth of the global cryogenic pump market over the forecast period.

In January 2022, the cryogenic solution specialist Cryostar announced that it had received NeoVP vertical pumps for the Chinese market. These pumps will be installed in air separation units. NeoVP vertical pumps are designed for easy installation and maintenance, and they also possess hydraulic efficiency, reducing the unit’s carbon footprint and energy costs.

In April 2021, Nikkiso Co., Ltd. announced a new facility adjacent to their primary production test site to increase the efficiency and capability of producing cryogenic submerged electric motor pumps, especially for the LNG market. This facility is also expected to facilitate customer remote-site witness testing.

Key features of the study:

• This report provides in-depth analysis of the global cryogenic pump market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global cryogenic pump market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include KSB SE & Co. KGaA, SHI Cryogenics Group, Nikkiso Co. Ltd., Ebara Corporation, and Fives SAS
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global cryogenic pump market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cryogenic pump market

Detailed Segmentation:

• Global Cryogenic Pump Market, By Type
  • Dynamic Pump
  • Positive Displacement Pump
• Global Cryogenic Pump Market, By Gas
  • Nitrogen
  • Oxygen
  • Argon
  • LNG
  • Other Gases
• Global Cryogenic Pump Market, By End User
  • Oil and Gas
  • Healthcare
  • Chemicals
  • Other End Users
• Global Cryogenic Pump Market, By Geography
  • North America
  • Asia-Pacific
  • Europe
  • South America
  • Middle East & Africa
• Company Profiles
  • SHI Cryogenics Group
  • Ebara Corporation
  • Fives SAS
  • Nikkiso Co. Ltd
  • KSB SE & Co. KGaA