The global cryogenic pump market revenue is expected to register a moderate CAGR over the forecast period. Growing demand for energy and power globally is major factor driving growth of the global cryogenic pump market over the forecast period. Increasing focus towards solar power generation is expected to create lucrative opportunities for players operating in the target market. However, decreasing global steel production is expected to hamper growth of the target market, to certain extent.
The global cryogenic pump market report has been segmented on the type, cryogenic gases, end user, and region.
Based on cryogenic gases, the global cryogenic pump market is segmented based on nitrogen, oxygen, argon, and LNG. The LNG segment is expected to register fastest growth over the forecast period.
Based on end use industry, the global cryogenic pump market is segmented based on energy & power, metallurgy, chemicals, electronics, and others (healthcare and paper & pulp). The energy & power segment is estimated to account for significant revenue share in 2018, and expected to register CAGR of XX.X% over the forecast period.
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Based on region, the global market is segmented based on North America, Europe, Latin America, Asia Pacific and Middle East & Africa. Asia Pacific contributes for significant market share in terms of revenue in global cryogenic pump market and is expected to maintain its dominance over the forecast period. Increasing demand for cryogenic pump from various end use industries such as energy & power, metallurgy, chemicals, and electronics from countries such as China and India, is a major factor expected to drive growth of market in the region over the forecast period.
Some prominent players in the global cryogenic pump market are Sumitomo Heavy Industries Ltd., Ebara Corporation, Flowserve Corporation, Fives S.A., Brooks Automation Inc., Global Technologies, Cryoquip Australia, The Linde Group, Nikkiso Cryo Inc., and PHPK Technologies Inc.