Europe Cryogenic Equipment Market Size & Outlook
Europe cryogenic equipment market, 2018-2030 (US$M)
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Europe cryogenic equipment market highlights
- The Europe cryogenic equipment market generated a revenue of USD 5,605.6 million in 2023.
- The market is expected to grow at a CAGR of 6.4% 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, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 5,605.6 million |
| Market revenue in 2030 | USD 8,639.8 million |
| Growth rate | 6.4% (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, Europe region accounted for 23.8% 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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Europe 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 33.08% in 2023. Horizon Databook has segmented the Europe 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 demand for cryogenic equipment in Europe has seen a significant upward trajectory, primarily fueled by advancements and growth within key sectors such as the metallurgy, chemical, and food & beverage industries.
Cryogenic equipment, which includes tanks, valves, vaporizers, and pumps, plays a crucial role in these industries by providing essential services, such as the cooling, storage, and transportation of liquefied gases.
In the metallurgical sector, cryogenic processes are pivotal for steel tempering and metal processing, enhancing the properties and performance of the material. This has led to an increased demand for more sophisticated cryogenic systems capable of delivering precise temperature controls and improved efficiency.
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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 continent-level data and insights on the Europe cryogenic equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Europe cryogenic equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe cryogenic equipment market size, by country, 2018-2030 (US$M)
Europe Cryogenic Equipment Market Outlook Share, 2023 & 2030 (US$M)
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