Cryogenic Equipment Market

The global cryogenic equipment market grew at a cagr of around 7 during 2014 2019.

Cryogenic equipment market.

Global cryogenic equipment market is estimated to be valued us xx x million in 2019. Cryogenic equipment market size was valued over usd 15 billion in 2017 and is predicted to grow over 7 by 2024. Cryogenic equipment is used for lowering the temperature with the help of cryogenic gases. The global cryogenic equipment market is expected to grow from usd 12 36 billion in 2019 to usd 20 66 billion by 2027 at a cagr of 6 2 during the forecast period 2020 2027.

These equipments operate below 150 o c of temperature. The report on cryogenic equipment market provides qualitative as well as quantitative analysis in terms of market dynamics competition scenarios opportunity analysis market growth etc. 14 2020 at 2 09 a m. Get more details on this report request free sample pdf ongoing investments toward the expansion of existing manufacturing facilities coupled with supportive government policies across emerging economies will drive the global market growth.

Press release cryogenic equipment market global industry analysis by trends size share company overview growth and forecast by 2026 published. 6 cryogenic equipment market by equipment page no. 21 2020 at 8 37 a m. Global cryogenic equipment market is expected to reach usd 22 7 billion by 2022 growing at a cagr of 6 3 between 2017 and 2022.

By 2022 the market size of global cryogenic equipment is forecasted to reach 25 05 billion. The key factors proliferating the demand for global cryogenic equipment market includes growing investments in cryogenic infrastructure increasing demand for cryogenic equipment across the value chain of lng and increasing demand for industrial gases from energy industries and metallurgy across the globe. Cryogenic equipment refers to devices that are used for the storage and transportation of materials at extremely low temperatures. The ever increasing power and energy demand along with faster rate of industrialization are considered to be the important factors to drive the market over 7 years.

48 6 1 introduction 6 2 tanks 6 2 1 increasing lng production is driving the market for tanks 6 3 valves 6 3 1 high demand for industrial gases from the aerospace and electronics sectors is likely to boost the demand 6 4 vaporizers 6 4 1 demand for vaporizers increases as industrial gases.