Latin America Cryogenic Equipment Market Size & Outlook
Latin America cryogenic equipment market, 2018-2030 (US$M)
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Latin America cryogenic equipment market highlights
- The Latin America cryogenic equipment market generated a revenue of USD 902.2 million in 2023.
- The market is expected to grow at a CAGR of 5.5% 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, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 902.2 million |
| Market revenue in 2030 | USD 1,311.4 million |
| Growth rate | 5.5% (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 |
| 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, Latin America region accounted for 3.8% 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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Latin America 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 33.12% in 2023. Horizon Databook has segmented the Latin America 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 Central & South America is significantly influenced by the region's emphasis on the oil & gas and metallurgy sectors.
These industries are pivotal to the economic landscape, utilizing cryogenic equipment for various critical operations such as LNG storage and transportation, gas processing, and metal processing. The evolution of the oil & gas sector, driven by the exploration of new reserves and the need for efficient gas processing techniques, has boosted the requirement for advanced cryogenic equipment.
The table above provides insights about Brazil Natural Gas Liquids Production from 2018 to 2022. This uptrend in oil & gas production is poised to significantly benefit the cryogenic equipment market. As Brazil boosts its output, the need for cryogenic equipment, which is crucial for the liquefaction, storage, and transportation of natural gas, is anticipated to increase markedly.
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Our clientele includes a mix of cryogenic equipment market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America cryogenic equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America cryogenic equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America cryogenic equipment market size, by country, 2018-2030 (US$M)
Latin America Cryogenic Equipment Market Outlook Share, 2023 & 2030 (US$M)
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