The LNG cryogenic gas market is expected to grow at the highest CAGR from 2016 to 2021.


Posted July 26, 2017 by Pratik_M

Positive displacement cryogenic pump is projected to be the highest growing segment on the basis of type of cryogenic pumps from 2016 to 2021.

 
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.

On the basis of cryogenic gases, LNG is projected to be the fastest growing market segment during the forecast period. This growth is attributed to increasing use of LNG for power generation in the energy and power industry and growing usage of oil tankers for transportation in the shipbuilding industry. The LNG market is expected to witness maximum growth in the Middle East region. Moreover, increasing focus on renewable generation is likely to boost the electronics segment.

Positive displacement cryogenic pump is projected to be the highest growing segment on the basis of type of cryogenic pumps from 2016 to 2021. The reason behind the same would be increasing use of positive displacement pumps in end-use industries such as energy and power, shipbuilding, food & beverage, and healthcare, given its compact size. Asia-Pacific is the largest market for positive displacement cryogenic pumps, due to increasing energy demand in the region.

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Objectives of the study:
• To define, describe, and forecast the global Cryogenic pump market by type, gas , End User, and region
• To provide detailed information regarding major factors influencing the growth of the Cryogenic pump market (opportunities, and industry-specific challenges)
• To strategically analyze the Cryogenic pump market with respect to individual growth trends, future prospects, and contribution of each segment to the market
• To strategically profile key players and comprehensively analyze their market shares and core competencies

Key Player Analysis:
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.).

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Scope of the report:
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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Issued By Pratik
Country India
Categories Business , Industry
Tags cryogenic market , cryogenic pump market , pump market
Last Updated July 26, 2017