Cryogenic Pump Market Overview

The global cryogenic pump market is predicted to grow at a 4.02% CAGR over the forecast period, states the new Market Research Future (MRFR) report. A cryogenic pump or cryopump is a vacuum pump which traps vapours and gases by condensing the same on a cold surface. However, these pumps are effective only on some gases; the effectiveness of the pump depends on the boiling and freezing points of the gas, which are relative to the temperature of the cryogenic pump.

These pumps offer high-speed, clean pumping of gases. They function through adsorption and condensation of vapours and gases on surfaces held at low temperatures. Positive displacement and centrifugal are the two types of cryogenic pumps. Such pumps offer high pumping speeds and are widely used in the healthcare, electronics, and energy and power industries.

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Industry Highlights

Various factors are propelling the cryogenic pump market growth. Some of these factors according to the Market Research Future (MRFR) report, include increasing demand from numerous end use industries including healthcare, chemicals, metallurgy, and energy and power, rising LNG production, and burgeoning demand for medical gases in the healthcare industry for diagnosis as well as treatment of different respiratory diseases such as asthma and others.

Cryogenic pump is a vacuum pump used in cryogenic temperatures to transfer cryogenic liquids. These pumps are also used to transfer such cryogenic fluids between containers or from one container to a point of use. The major types of cryogenic pumps, i.e., long shaft cryogenic pumps efficiently transfer liquids cryogens while minimizing heat leak. The applications of these pumps include the circulation of liquid nitrogen for high temperature superconductors and for synchrotron beamline crystal cooling. The main components of cryogenic pumps include a thermal shield, a condensing array, a cold head cylinder, and a low temperature array.

The global cryogenic pump market is set to witness significant growth due to the increasing gas-based power generation and rising demand for medical gases. Complex industrial processes would incorporate the use of liquid gases, which would fuel the growth of cryogenic pumps. Similarly, a rise in the demand for energy & power industry would drive the demand for LNG based power generation and thus the growing use of oil tankers for transportation in the shipbuilding industry. Such factors would boost the growth of cryogenic pumps.

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Leading Players

The key players of global cryogenic pump market are Ebara Corporation (Japan), Flowserve Corporation (US), Sumitomo Heavy Industries (Japan), Fives S.A. (France), Brooks Automation (US), Cryoquip Australia, Cryostar SAS (France), Nikkiso Cryo Inc. (US), PHPK Technologies Inc. (US), Ruhrpumpen Inc. (Mexico), and Technex Limited (India).

Segmentation

The cryogenic pump market has been segmented on the basis of type as centrifugal and positive displacement. Among these types, positive displacement segment is the largest segment in the cryogenic pump market due to an increase in the use of positive displacement pumps in Asia-Pacific, Europe, and North America as these pumps have a constant flow at various viscosities and pressures.

Regional Outlook

Region wise, Asia-Pacific held the largest market share of the global cryogenic pump market in 2017. The growth in this region is driven by industrial development in emerging countries such as China, India, Malaysia, and other Southeast Asian countries. It is estimated that Asia-Pacific region would be the fastest growing market during the forecast period, mainly due to the growing energy need, focus on renewable generation, and rapid urbanization.

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