This detailed market study covers cryogenic equipment market growth opportunities and competitive scenarios, which can assist the stakeholders in understanding market trends and prospects in the cryogenic equipment market. The market report focuses on data from a combination of primary and secondary sources and analyses the information using numerous tools. The research report also offers a detailed analysis of each segment in the global cryogenic equipment market and evaluates the impact of COVID-19 outbreak on the industry.

Global Cryogenic Equipment Market Competitive Rivalry

The market report includes an analysis of the competitive landscape present in the industry. It consists of an assessment of the existing and ongoing trends that players can invest in. The notable players in the global cryogenic equipment market are Taylor-Wharton International, LLC, Cryofab Inc, Parker Hannifin Corp, Flowserve Corporation, Emerson Electric Co, Linde Plc, Chart Industries, Inc, Air Products and Chemicals, Inc, Wessington Crygenics Ltd, and Herose GmbH., among others.

Global Cryogenic Equipment Market Drivers

The significant factors contributing to the growth of the global cryogenic equipment market include the increasing investments in cryogenic infrastructure, accelerating demand for cryogenic equipment across the value chain of LNG, and the strong demand for industrial gases from energy industries and metallurgy at the global level. Industrial gases play an essential role in metallurgy and mining. In the mining process, various industrial gases are used, such as argon, nitrogen, and oxygen. The metallurgical sector includes numerous industries including aluminum, metal and steel, and other industries related to the metallic procedure. Thus to facilitate the mining process and to maintain the temperature of fuels, the metallurgic industry is increasingly adopting industrial gases.

The industrial gases are used in cryogenic equipment, which implements ultra-zero quenching in the heat treatment process, decreases internal stress, and wear resistance of ferrous steel. Thus, the cryogenic equipment market size is growing driven by the increasing need for industrial gases, which in turn, is accelerating the growth of the cryogenic equipment. On the other edge, the high initial investment for deploying cryogenic plants in large scale industrial applications, which is likely to hinder the growth of the market.

Global Cryogenic Equipment Market Segmentation

The chapter of segmentation provides the readers with an overview of the cryogenic equipment market, such as its products, applications, and other relevant factors of the industry. Understanding the market segments helps in identifying the importance of different factors that surges market growth over the forecast period (2020-2027).

Segment by Service Equipment:

Tanks
Valves
Vaporizers
Pumps
Others

Segment by Cryogen:

Nitrogen
Argon
Oxygen
LNG
Others

Segment by End-User:

Energy & power
Chemicals
Metallurgy
Electronics
Shipping
Others

Segment by Region:

North America
o United States of America

o Canada

Asia Pacific
o China

o Japan

o India

o Rest of APAC

Europe
o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

RoW
o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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