Asia Pacific Cryogenic Equipment Market Size & Outlook
Asia Pacific cryogenic equipment market, 2018-2030 (US$M)
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Asia Pacific cryogenic equipment market highlights
- The Asia Pacific cryogenic equipment market generated a revenue of USD 10,956.7 million in 2023.
- The market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, tanks was the largest revenue generating product in 2023.
- Pumps & Vaporizers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 10,956.7 million |
| Market revenue in 2030 | USD 17,500.1 million |
| Growth rate | 6.9% (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 |
| Key market players worldwide | Chart Industries Inc, Linde PLC, Nikkiso Co Ltd, Standex International Corp, Air Liquide SA, Volkswagen AG, ULVAC Inc, Herose UK, Wessington Cryogenics, INOX India Pvt Ltd, Premier Cryogenics, Cryolor, Cryo Pur |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 46.5% of the global cryogenic equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 17,500.1 million by 2030.
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Cryogenic Equipment Market Scope
Cryogenic Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 32.82% in 2023. Horizon Databook has segmented the Asia Pacific 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.
The Asia Pacific region is experiencing a significant surge in the demand for cryogenic equipment across various end-use sectors, notably within the metallurgy, chemical, and automotive industries. This growth is propelled by the expanding industrial base, coupled with increasing investments in technology and infrastructure development.
In metallurgy, cryogenic equipment plays a pivotal role in enabling ultra-low temperature processes essential for enhancing material properties such as strength and durability.
The region's push toward advanced manufacturing techniques, as well as the growing chemical sector, particularly in countries such as China, India, and Japan, underscore the critical need for reliable and efficient cryogenic solutions.
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Target buyers of Asia Pacific cryogenic equipment market databook
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific cryogenic equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific cryogenic equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific cryogenic equipment market size, by country, 2018-2030 (US$M)
Asia Pacific Cryogenic Equipment Market Outlook Share, 2023 & 2030 (US$M)
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