Global Cryogenic Equipment Market Size & Outlook
Global cryogenic equipment market, 2018-2030 (US$M)
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Global cryogenic equipment market highlights
- The global cryogenic equipment market generated a revenue of USD 23,575.3 million in 2023 and is expected to reach USD 36,734.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 6.5% by 2030.
- In terms of segment, tanks accounted for a revenue of USD 7,748.2 million in 2023.
- Pumps & Vaporizers is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 23,575.3 million |
| Market revenue in 2030 | USD 36,734.0 million |
| Growth rate | 6.5% (CAGR from 2023 to 2030) |
| Largest segment | Tanks |
| Fastest growing segment | Pumps & Vaporizers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tanks, Valve, Pumps & Vaporizers, Vacuum Jacketed Piping (VJP), Other Products |
Other key industry trends
- In terms of revenue, the North America accounted for 19.5% of the global cryogenic equipment market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 557.9 million by 2030.
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Cryogenic Equipment Market Scope
Cryogenic Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global cryogenic equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cryogenic equipment market will help companies and investors design strategic landscapes.
Tanks was the largest segment with a revenue share of 32.87% in 2023. Horizon Databook has segmented the Global cryogenic equipment market based on tanks, valve, pumps & vaporizers, vacuum jacketed piping (vjp), other products covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Cryogenic Equipment Product Outlook (Revenue, USD Million, 2018-2030)
- Tanks
- Valve
- Pumps & Vaporizers
- Vacuum Jacketed Piping (VJP)
- Other Products
- Global Cryogenic Equipment Cryogen Outlook (Revenue, USD Million, 2018-2030)
- Nitrogen
- Oxygen
- Argon
- Liquified Natural Gas
- Other Cryogen
- Global Cryogenic Equipment Application Outlook (Revenue, USD Million, 2018-2030)
- Distribution
- Storage
- Global Cryogenic Equipment End-Use Outlook (Revenue, USD Million, 2018-2030)
- Oil & Gas
- Metallurgy
- Automotive
- Food & Beverage
- Chemical
- Other End-Use
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Our clientele includes a mix of cryogenic equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global cryogenic equipment market , including forecasts for subscribers. This global databook contains high-level insights into Global cryogenic equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global cryogenic equipment market size, by regions, 2018-2030 (US$M)
Top 10 countries: Cryogenic equipment market size, 2023 (US$M)
Global cryogenic equipment market share, by product, 2023 & 2030 (%, US$M)
Cryogenic equipment market: Opportunity assessment by country
Global cryogenic equipment market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 3,723.6 | 3,897.3 | 3,935.1 | 4,136.7 | 4,354.2 | 4,589.0 | 4,842.9 | 5,117.6 | 5,415.4 | 5,738.6 | 6,089.6 | 6,471.6 | 6,887.6 | 6.0% |
| Europe | 4,463.0 | 4,689.0 | 4,752.5 | 5,015.0 | 5,298.6 | 5,605.6 | 5,938.2 | 6,299.0 | 6,690.8 | 7,117.0 | 7,581.1 | 8,087.2 | 8,639.9 | 6.4% |
| Asia Pacific | 8,504.3 | 8,980.4 | 9,148.5 | 9,703.0 | 10,304.2 | 10,956.7 | 11,666.0 | 12,438.0 | 13,279.2 | 14,197.1 | 15,200.0 | 16,297.5 | 17,500.1 | 6.9% |
| Latin America | 740.2 | 773.6 | 779.6 | 817.8 | 858.5 | 902.2 | 948.9 | 999.0 | 1,052.8 | 1,110.5 | 1,172.6 | 1,239.4 | 1,311.4 | 5.5% |
| MEA | 1,193.7 | 1,257.9 | 1,278.7 | 1,353.4 | 1,434.2 | 1,521.8 | 1,616.9 | 1,720.3 | 1,832.8 | 1,955.3 | 2,089.1 | 2,235.2 | 2,395.1 | 6.7% |
| Overall | 18,624.7 | 19,598.1 | 19,894.5 | 21,025.8 | 22,249.7 | 23,575.3 | 25,012.9 | 26,573.8 | 28,270.9 | 30,118.5 | 32,132.4 | 34,330.9 | 36,734.0 | 6.5% |
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