The cryogenic pump market is expected to reach USD 1.96 Billion by 2021, at a CAGR of 3.28% from 2016 to 2021. The growth of this market is attributed to increasing demand for LNG from sectors such as power generation and domestic & commercial fuel and demand for medical gases in healthcare facilities. Moreover, the global cryogenic pump market is projected to witness high growth on account of rising power generation from renewables, which would result in reduction of carbon emissions.
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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Objectives of the Study
• To define, describe, and forecast the global cryogenic valve market on the basis of type, application, gas, end-user, and region
• To provide detailed information on major factors influencing the growth of the cryogenic valves market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the cryogenic valves market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To track and analyze competitive developments, such as acquisitions, contracts & agreements, and new product developments in the cryogenic valves market
The points given below explain the research methodology.
-Study of the annual revenue and market developments of the major players providing cryogenic valves
-Analysis of demand for cryogenic valves by end-users
-Assessment of future trends and growth of end-users in the cryogenic valve market
-Assessment of the cryogenic valves market with respect to various types
-Study of market trends in various regions and countries, by end-users in the cryogenic valve market
-Study of contracts and developments by key players across different regions in the cryogenic valve market
-Finalization of overall market sizes by triangulating the supply-side data, which includes product developments and annual revenues of companies supplying cryogenic valves across the globe
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Target Audience:
• Cryogenic equipment manufacturers, dealers, and suppliers
• LNG plant developers and service providers
• LNG dealers
• Cryogenic equipment Manufacturers’ associations
• Oil & gas companies
• Power and energy associations
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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