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Cryogenic Pump Market 2022 | Top Companies Overview, Regional Analysis, Revenue, CAGR Growth and Forecast by 2027

Cryogenic Pump Market Global Report 2022-2027

The global cryogenic pump market size reached US$ 644.34 Million in 2021. By 2027, It will reach US$ 936.48 Million, exhibiting a CAGR of 6.25% during 2022-27.

SHERIDAN, WYOMING, UNITED STATES, November 29, 2022 /EINPresswire.com/ — The latest research study “Cryogenic Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global cryogenic pump market reached a value of US$ 644.34 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 936.48 Million by 2027, exhibiting a growth rate (CAGR) of 6.25% during 2022-2027.

What is cryogenic pump?

A cryogenic pump refers to a vacuum pump that freezes, traps, and absorbs gases by condensing them on cold surfaces at a very low temperature. It comprises of a diffuser, unit displacer, impellers, etc. A cryogenic pump is manufactured by using special elastomers that are hermetically sealed to avoid leakage. It is commonly available in entrapment, kinetic, and positive displacement pump types designed to move coolants and cryogenic liquids. A cryogenic pump is cost-effective and provides high pumping speed as well as safety against power breakdown and oil contamination. Consequently, it finds extensive applications in several industries, including chemical, electronics, healthcare, etc. In line with this, a cryogenic pump is widely utilized in cooling synchrotron beamline crystals and superconducting cables.

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Impact of COVID-19:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

What are the major drivers for the cryogenic pump market?

The escalating demand for gas-based power generation is primarily driving the cryogenic pump market. Additionally, the widespread adoption of liquified petroleum gas or LPG, owing to its safety and efficiency in transportation, is further catalyzing the market growth. Besides this, the growing utilization of cryogenic pumps to create a high vacuum in the proton therapy systems is acting as another significant growth-inducing factor.

Moreover, the launch of numerous favorable policies by government bodies across countries to reduce levels of carbon emissions is also positively influencing the global market. Apart from this, the introduction of scroll product variants that are capable of tapping volatile liquids is anticipated to fuel the cryogenic pump market over the forecasted period.

Click here to view detailed information with table of content: https://www.imarcgroup.com/cryogenic-pump-market

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cryogenic pump market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on region, type, end use industry and sales channel.

Breakup by Type:
• Centrifugal Pump
• Positive Displacement Pump

Breakup by End Use Industry:
• Energy and Power Generation Industry
• Healthcare Industry
• Electricals and Electronics Industry
• Metallurgy Industry
• Chemicals
• Others

Breakup by Sales Channel:
• Original Equipment Manufacturers
• Aftermarket

By Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:
• Atlas Copco
• Cryostar SAS (Linde plc)
• Ebara Corporation
• Fives (Novafives S.A.S.)
• Flowserve Corporation
• Nikkiso Co. Ltd
• PHPK Technologies Inc.
• Ruhrpumpen Group (Corporación EG)
• Sulzer Ltd.
• Sumitomo Heavy Industries Ltd
• Weir Group PLC.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
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