Cryogenic Pump Market is estimated to be valued at USD 3,384.1 Mn in 2025 and is expected to reach USD 12,189.6 Mn in 2032, exhibiting a compound annual growth rate (CAGR) of 20.1% from 2025 to 2032.
The metallurgy industry is also expected to experience a rise in the demand for cryogenic pumps. Increasing demands for petrochemical products and rising demand from refining and fertilizer industries will also support the growth of this sector. Growing urbanization in the Asia-Pacific region and an increased demand for liquefied natural gas are projected to increase the demand for cryogenic pumps, which is likely to drive the market growth.
|
Current Event |
Description and its Impact |
|
Global Energy Transition and LNG Infrastructure Expansion |
|
|
Space Industry Commercialization and Launch Market Growth |
|
Uncover macros and micros vetted on 75+ parameters: Get instant access to report
|
Pump Type / Application |
Typical Price Range (USD) |
Key Use Cases |
Market Notes |
|
Positive Displacement (Reciprocating) |
10,000 – 80,000 |
High-pressure gas transfer, cylinder filling, hydrogen stations |
Popular for smaller but high-pressure applications |
|
Centrifugal Pumps |
50,000 – 250,000+ |
LNG terminals, bulk gas transfer, industrial plants |
Largest share due to LNG demand |
|
Vacuum Cryopumps |
20,000 – 100,000 |
Semiconductor manufacturing, research labs, vacuum systems |
Specialized niche market |
|
Medical Cryogenic Pumps |
5,000 – 20,000 |
Cryoablation, medical gas handling |
Smaller but fast-growing segment |
|
Aerospace & Defense Pumps |
100,000+ |
Rocket propulsion (LOX, LH2), military systems |
High engineering cost, limited suppliers |
Uncover macros and micros vetted on 75+ parameters: Get instant access to report
Based on Type, the dynamic pump segment is expected to dominate the global market with 67.2% share in 2025, and this is attributed to the various advantages of dynamic cryogenic pumps such as fewer moving parts reducing installation and maintenance cost. Moreover, these pumps offer higher efficiency compared to others. Thus, demand for dynamic pumps is increasing, which is driving growth of the segment.
Based on Gas, the LNG segment is expected to lead the market with the largest share in 2025, due to rising global energy demand, expansion of LNG import and export terminals, and its role as a cleaner alternative to coal and oil. Large-scale infrastructure projects require high-capacity cryogenic pumps, making LNG the most pump-intensive and market-leading segment.
For instance, in November 2025, Nikkiso Clean Energy & Industrial Gases (CEIG) captured a big contract to provide cryogenic pumps for floating storage and regasification unit (FSRU) conversions. The deal shows how LNG is becoming more important in the world's energy infrastructure, with cryogenic pumps making safe transfer and regasification possible. This makes Nikkiso's position in the cryogenic pump market for LNG even stronger.
Based on End User, the Oil and Gas segment is expected to dominate the global market over the forecast period and this is attributed to the growing use in oil and gas industry due to various applications such as gas storage, gas transportation, gas processing and more.
For instance, in July 2024, ITT’s Svanehøj obtained a major contract to make cryogenic deepwell pumps for the first group of large LNG carriers. The pumps are set to be very important for moving liquefied natural gas at very low temperatures. This will help Svanehøj become a stronger player in the global oil and gas industry and help build up the infrastructure for LNG shipping.
To learn more about this report, Download Free Sample
North America is expected to lead the global cryogenic pump market with 32.6% share in 2025. This is attributed to low cost of natural gases, and rise in number of gas plants in the U.S. Moreover, increasing LNG infrastructure and growing LNG industry in Canada is also aiding in rapid growth of the market in North America region. Thus, the region will witness strong growth in the coming future.
For instance, in November 2025, PSG Dover announced the integration of Cryogenic Machinery Corp. into its Blackmer portfolio under the new Cryo-Mach Series. The move strengthens Blackmer’s offerings in cryogenic pumps designed for liquefied gases including LNG, hydrogen, oxygen, and nitrogen. This strategic transition enhances PSG’s position in industrial energy and transportation markets, expanding its cryogenic solutions globally.
Asia Pacific is also expected to show robust growth in the global cryogenic pump market over the forecast period. This is due to rise in demand for electricity, owing to growing industrialization, urbanization, and infrastructural developments along with subsequent investments in development of large gas-fired power generation. These factors in turn are creating demand for cryogenic pumps in the region, which in turn is expected to propel growth of the global cryogenic pump market over the forecast period.
For instance, in September 2025, At the BRICS Innovation Summit in Russia, Astrophel Aerospace showed off India's first homegrown cryogenic pump for reusable rockets. The pump is an enormous advancement in aerospace technology as it can handle liquid oxygen and hydrogen. This new technology strengthens India's position in space propulsion systems and shows off the country's advanced cryogenic engineering skills for future launch vehicles.
The U.S. cryogenic pump market will grow in 2025 because more LNG export facilities are being built, more hydrogen infrastructure projects are being planned, and there is a lot of demand from the industrial gas sectors. Investments in clean energy projects and technologies that are good for the environment, backed by the government, also help adoption. This makes the U.S. a key player in cryogenic pump applications in both the industrial and energy markets around the world.
For instance, in January 2025, Dover Corporation, which is based in Downers Grove, Illinois, added cryogenic pumps to its Pumps & Process Solutions line-up. Dover's move strengthens its position in the energy, chemical, and industrial gas markets and makes it the world leader in advanced pump technologies. The move is meant to help the company handle liquefied gases like LNG, hydrogen, oxygen, and nitrogen.
The cryogenic pump market in China is seeing a lot of demand in 2025 because LNG terminals are growing quickly, hydrogen infrastructure projects are growing, and industrial gas use is rising. Adoption is being driven by government-backed clean energy projects and investments in technologies that are good for the environment. This makes China the world's leader in using cryogenic pumps in both the energy and industrial sectors.
For instance, in March 2025, IceCure Medical received a Notice of Allowance in China for its new cryogenic pump, which is going to be used to power the next generation of cryoablation technology. The innovation enables the use of thinner cryoprobes and catheters, advancing minimally invasive cancer treatments. This milestone makes IceCure more well-known around the world and shows how far medical cryogenic engineering has come in helping people with cancer
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 3,384.1 Mn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 20.1% | 2032 Value Projection: | USD 12,189.6 Mn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
KSB SE & Co. KGaA, SHI Cryogenics Group, Nikkiso Co. Ltd., Ebara Corporation, and Fives SAS |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Uncover macros and micros vetted on 75+ parameters: Get instant access to report
Chemical and petrochemical sector are one of the major users of cryogenic pumps. In chemical and petrochemical sector, these devices are used in various applications such as sulfur recovery units, oxidation process, coal gasification, regenerate catalysts, and cool reactors. The chemical industry across the globe is witnessing a stable growth for a long time as the demand for chemicals from developing countries around the world is constant. These factors are further driving the adoption and demand of cryogenic pumps. This in turn is expected to augment growth of the global cryogenic pump market over the forecast period.
The rise in global LNG consumption is significantly boosting demand for cryogenic pumps, essential in storage, transfer, and regasification processes. This surge directly expands the Cryogenic Pump Market size, driven by energy transition initiatives, increasing LNG trade, and infrastructure investments, positioning cryogenic technology as a cornerstone of sustainable energy growth.
Growing use of cryogenic pumps at hydrogen refueling stations is expected to create several growth opportunities in the global cryogenic pump market over the forecast period. Hydrogen sources continue to diversify and a zero-carbon source of hydrogen production is nuclear. Moreover, renewable feedstocks are environment-friendly hydrogen sources, the use of which has grown in recent times significantly. Traditionally, hydrogen refueling stations utilize hydrogen compressors for storing gas, however, now the use of cryo pumps has increased for storing the gas in the liquid form. This is further creating several growth opportunities in the market.
Rise in demand for liquefied natural gas is expected to offer multiple lucrative opportunities in the global cryogenic pump market over the forecast period. Due to the efficiency of liquefied natural gas in safety and transport, it is considered a fuel for the future. The infrastructure of pipeline is developing rapidly along with favorable government policies, and demand from natural gas. These factors are leading to rise in adoption of liquefied natural gases, which is expected to create various business opportunities in the global cryogenic pump market over the forecast period.
Pharmaceutical industry currently makes use of cold storage for safely transporting its products around the globe. These shipments are moved from the site of manufacturing through storage depots, planes, trucks, and ships for reaching the ultimate destination, usually a clinic, hospital, or pharmacy. Due to increased transport, the demand to maintain the product at cryogenic temperatures is high in pharmaceutical industry around the world. This is thus creating demand for cryogenic pumps in pharmaceutical industry, which is expected to propel growth of the global cryogenic pump market over the forecast period.
Several governments around the world are investing in natural gas extraction for domestic use. Along with this, the consumer awareness regarding extraction of natural gas is also increase all over the world. The demand for natural gas has further increased due to which liquefaction of gases is increasingly being adopted for purposes such as power plants, transportation, and medical gas supply. This is in turn is creating demand for cryogenic pumps, and thus, the trend is likely to continue in the market over the coming future.
The cryogenic pump market value is affected by the growth of liquefied gas value chains, especially LNG, industrial gases, and new hydrogen applications. Even though there is a lot of variation, mid-range studies show that the demand for equipment is stable because LNG throughput is growing over time and the use of liquefied nitrogen, oxygen, and argon in healthcare, electronics, and metals processing is also growing.
Most of the installed capacity for large LNG and industrial systems comes from centrifugal pumps. Positive-displacement pumps, on the other hand, are becoming more common in high-pressure and precision-metering applications. Magnetic-drive systems, better bearings, low-leakage sealing, and submersible designs are just a few examples of how technology is improving and lowering lifecycle costs while making it easier for suppliers to stand out. Aftermarket services and spare parts still make up a large part of the revenue for established OEMs, so lifecycle cost is a key factor in buying decisions.
Definition: Cryogenic pumps are used in the energy industries. They are used for gas-to-liquid and gas-to-gas activities, including power generation. Typically, these pumps are used in oil and gas fields. Moreover, they are utilized in LNG terminals. Moreover, they are also used in compressed natural gas refueling stations.
Share
Share
About Author
Ramprasad Bhute is a Senior Research Consultant with over 6 years of experience in market research and business consulting. He manages consulting and market research projects centered on go-to-market strategy, opportunity analysis, competitive landscape, and market size estimation and forecasting. He also advises clients on identifying and targeting absolute opportunities to penetrate untapped markets.
Missing comfort of reading report in your local language? Find your preferred language :
Transform your Strategy with Exclusive Trending Reports :
Frequently Asked Questions
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients
Schedule a meeting with report Author
