Cryogenic Equipment Market by Product (Tank, Valve, Vaporizer, Pump), Cryogen (Nitrogen, Oxygen, Argon, LNG), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping) and Region - Global Forecast to 2021

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Date: 06-Sep-2016
No. of pages: 180
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“Cryogenic equipment market to grow at a CAGR of 6.74% during the forecast period”

The cryogenic equipment market is expected to reach a size of USD 22.42 billion by 2021, at a CAGR of 6.74% from 2016 to 2021. Factors such as increasing demand for LNG and improving healthcare services, especially in the developing economies are driving the market globally. Tanks are the largest segment of the cryogenic equipment market based on product type.

“The shipping segment would grow at a faster pace during the forecast period”

In terms of market, by end-user, the shipping application segment of the cryogenic equipment market is projected to grow at the faster pace during the forecast period, only next to electronics. Since large number of LNG terminals is being constructed around the world and as those fuels are transported generally by ships in large containers, the need for cryogenic equipment in the shipping industry is inevitable. Moreover, further developments are being done to use LNG as marine fuel which will certainly require cryogenic equipment for operation.

“Asia-Pacific & Europe are the largest markets for cryogenic equipment”

Asia-Pacific & Europe dominate the global cryogenic equipment market. In Asia-Pacific, the growth of the cryogenic equipment market can be attributed to factors such as increasing investments in the energy sector and substantial growth in other end-user industries such as food & beverage and electronics among others in this region. Meanwhile in Europe, countries have strict regulation governing the use of inland LNG-fueled ships. Certain countries such as Russia also plan to develop LNG-powered locomotives also. Hence, there is a wide scope for cryogenic equipment in this region.

Breakdown of Primaries

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants among other experts to obtain & verify critical qualitative and quantitative information as well as assess future market prospects. The distribution of primary interviews is as follows:


  • By Company Type: Tier 1–43%, Tier 2–33%, and Tier 3–24%

  • By Designation: C-Level–35%, Director Level–25%, and Engineer Level–40%

  • By Region: Asia-Pacific–45%, Europe–30%, Americas–15%, and RoW–10%


Note: Row = Rest of the World

The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = >USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion and Tier 3 = <USD 1 billion

The industry’s leading players have been profiled with their recent developments and other strategic activities. These include Linde Group AG (Germany), Flowserve Corporation (U.S.), Air Liquide (France), VRV S.p.A. (Italy), and Chart Industries, Inc. (U.S.), among others.

Report Objective


  • To analyze the cryogenic equipment market based on product type, cryogen type, end-user, and region

  • To strategically analyze micro markets with respect to individual growth trends, future prospects, and contribution to the overall market

  • To analyze major driving factors, restraints, opportunities, burning issues, and winning imperatives in the cryogenic equipment market

  • To analyze trends and forecasts of the cryogenic equipment market and its sub segments

  • To analyze the major stakeholders in the cryogenic equipment market and provide a detailed competitive landscape for the leading players of the industry

  • To analyze the industrial trends in major regions, namely, North America, Asia-Pacific, Europe, South America, Africa, and the Middle East

  • To analyze competitive developments, such as contracts & agreements, expansions, new product launches and mergers & acquisitions in the global cryogenic equipment market, and profile the major players of the market Stakeholders


The stakeholders included in this report are as follows:


  • Cryogenic equipment manufacturers, dealers, and suppliers

  • Cryogenic gases/liquid merchant producers, suppliers, and dealers

  • Cryogenic plant developers and service providers

  • LNG dealers

  • Oil & gas companies

  • Consulting companies in the E&P sector

  • Cryogenic and cold storage associations

  • Power and energy associations

  • Shareholders and investors

  • Investment banks


Market Segmentation

By Product Type


  • Tanks

  • Valves

  • Vaporizers

  • Pumps

  • Other Equipment    


By Cryogen Type


  • Nitrogen

  • Oxygen

  • Argon

  • LNG

  • Other Cryogens


By End-User


  • Energy & Power

  • Chemical

  • Metallurgy

  • Electronics

  • Shipping

  • Other Industries


By Region


  • North America

  • South America

  • Europe

  • Africa

  • The Middle East

  • Asia-Pacific


Key target audience


  • Cryogenic equipment manufacturers, dealers, and suppliers

  • Cryogenic gases/liquid merchant producers, suppliers, and dealers

  • Cryogenic plant developers and service providers

  • LNG dealers

  • Cryogenic and cold storage associations


Why buy this report?


  • The report identifies and addresses key markets for cryogenic equipment, which is useful for suppliers and OEMs to review production and distribution plans.

  • The report includes analysis of key countries by application of cryogenic equipment; for instance, its application in Energy & Power and Chemical industries. It analyzes historical trends and also forecast for 2021, assisting in strategic decision making.

  • It presents competition by analyzing recent market developments such as key contracts, new product launches, expansions, and mergers & acquisitions from the key global market players. It helps understand the competition strategies and plan respective initiatives.

Cryogenic Equipment Market by Product (Tank, Valve, Vaporizer, Pump), Cryogen (Nitrogen, Oxygen, Argon, LNG), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping) and Region - Global Forecast to 2021

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.4 Years Considered in the Report
1.5 Currency & Pricing
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Cryogenic Equipment Market
4.2 Cryogenic Equipment Market, By Cryogen Type
4.3 Cryogenic Equipment Market, Product Type vs Cryogen Type
4.4 Cryogenic Equipment Market, By End-User
4.5 Cryogenic Equipment Market, By Region
4.6 Life Cycle Analysis

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Product Type
5.2.2 By Cryogen Type
5.2.3 By End-User
5.2.4 By Region
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Demand for LNG
5.3.1.2 Improving Healthcare Services in the Developing Economies
5.3.2 Restraint
5.3.2.1 Decrease in Global Steel Production
5.3.3 Opportunity
5.3.3.1 Increasing Infrastructure Spending
5.3.3.2 Space End-Users for Cryogenic Technologies
5.3.3.3 Cryogenic Energy Storage Systems
5.3.4 Challenge
5.3.4.1 Cryogen Leakage
5.4 Value Chain Analysis
5.5 Industry Trends
5.6 Porter’s Five Forces Analysis
5.6.1 Threat of New Entrants
5.6.2 Threat of Substitutes
5.6.3 Bargaining Power of Suppliers
5.6.4 Bargaining Power of Buyers
5.6.5 Intensity of Rivalry

6 Cryogenic Equipment Market, By Product Type
6.1 Cryogenic Equipment Market, By Product Type
6.1.1 Introduction
6.1.2 Tanks
6.1.3 Valves
6.1.4 Vaporizers
6.1.5 Pumps
6.1.6 Other Equipment

7 Cryogenic Equipment Market, By End-User
7.1 Introduction
7.1.1 Energy & Power
7.1.2 Chemical
7.1.3 Metallurgy
7.1.4 Electronics
7.1.5 Shipping
7.1.6 Other Industries

8 Cryogenic Equipment Market, By Cryogen Type
8.1 Introduction
8.1.1 Nitrogen
8.1.2 Oxygen
8.1.3 Argon
8.1.4 LNG (Liquefied Natural Gas)
8.1.5 Other Cryogens

9 Cryogenic Equipment Market, By Region
9.1 Introduction
9.1.1 Asia-Pacific
9.1.1.1 China
9.1.1.2 India
9.1.1.3 Australia
9.1.1.4 Japan
9.1.1.5 Malaysia
9.1.1.6 Rest of Asia-Pacific
9.1.2 Europe
9.1.2.1 U.K.
9.1.2.2 France
9.1.2.3 Germany
9.1.2.4 Russia
9.1.2.5 Rest of Europe
9.1.3 North America
9.1.3.1 U.S.
9.1.3.2 Canada
9.1.3.3 Mexico
9.1.4 Middle East
9.1.4.1 Saudi Arabia
9.1.4.2 Qatar
9.1.4.3 Uae
9.1.4.4 Rest of the Middle East
9.1.5 South America
9.1.5.1 Brazil
9.1.5.2 Argentina
9.1.5.3 Venezuela
9.1.5.4 Rest of South America
9.1.6 Africa
9.1.6.1 South Africa

10 Competitive Landscape
10.1 Overview
10.2 Contracts & Agreements 2011–2016
10.3 Expansions 2011–2016
10.4 New Product Launches 2011–2016
10.5 Mergers & Acquisitions 2011–2016
10.6 Other Developments 2011–2015

11 Company Profiles
11.1 Introduction
11.2 Air Liquide
11.2.1 Business Overview
11.2.2 Products & Services
11.2.3 Recent Developments
11.2.4 SWOT Analysis
11.2.5 MnM View
11.3 Beijing Tianhai Industry Co., Ltd.
11.3.1 Business Overview
11.3.2 Products & Services
11.3.3 Recent Developments
11.4 Chart Industries, Inc.
11.4.1 Business Overview
11.4.2 Product Portfolio
11.4.3 Key Strategies
11.4.4 Recent Developments
11.4.5 SWOT Analysis
11.4.6 MnM View
11.5 Cryofab Inc.
11.5.1 Business Overview
11.5.2 Product Portfolio
11.5.3 Key Strategies
11.5.4 Recent Developments
11.5.5 SWOT Analysis
11.5.6 MnM View
11.6 Cryoquip LLC.
11.6.1 Business Overview
11.6.2 Products & Services
11.6.3 Key Strategy
11.6.4 Recent Developments
11.7 Herose GmbH
11.7.1 Business Overview
11.7.2 Products & Services
11.7.3 Key Strategy
11.7.4 Recent Developments
11.8 INOX India Ltd.
11.8.1 Business Overview
11.8.2 Products & Services
11.8.3 Key Strategy
11.8.4 Recent Developments
11.8.5 SWOT Analysis
11.8.6 MnM View
11.9 Linde Group AG
11.9.1 Business Overview
11.9.2 Product Portfolio
11.9.3 Key Strategy
11.9.4 Recent Developments
11.9.5 SWOT Analysis
11.9.6 MnM View
11.10 Taylor-Wharton International LLC.
11.10.1 Business Overview
11.10.2 Products & Services
11.10.3 Key Strategy
11.10.4 Recent Developments
11.11 VRV S.P.A.
11.11.1 Business Overview
11.11.2 Product & Services
11.11.3 Key Strategy
11.11.4 Recent Developments
11.11.5 SWOT Analysis
11.11.6 MnM View
11.12 Wessington Cryogenics Ltd.
11.12.1 Business Overview
11.12.2 Product Portfolio
11.12.3 Key Strategy
11.12.4 Recent Developments
11.13 Emerson.
11.13.1 Business Overview
11.13.2 Product Portfolio
11.13.3 Key Strategy
11.13.4 Recent Developments
11.14 ACME Cryogenics (Graham Partners).
11.14.1 Business Overview
11.14.2 Product Portfolio
11.14.3 Key Strategy
11.14.4 Recent Developments
11.15 Flowserve.
11.15.1 Business Overview
11.15.2 Product Portfolio
11.15.3 Key Strategy
11.15.4 Recent Developments
11.16 Parker Hannifin
11.16.1 Business Overview
11.16.2 Product Portfolio
11.16.3 Key Strategy
11.16.4 Recent Developments

12 Appendix
12.1 Insights of the Industry Experts
12.2 Additional Developments, 2012–2016
12.3 Discussion Guide
12.4 Introducing RT: Real Time Market Intelligence
12.5 Available Customization
12.6 Related Reports

List of Tables

Table 1 Various Cryogen With Their Boiling Points
Table 2 Stringent Regulations for the Cryogenic Equipment/Technology is the Major Restraining Force for the Global Market
Table 3 Natural Gas Pipelines Offers High Growth Opportunities for Manufacturers
Table 4 Cryogen Leakage Norms: A Challenge for the Industry
Table 5 Cryogenic Equipment Market Size, By Product Type, 2014–2021 (USD Million)
Table 6 Cryogenic Tanks Market Size, By End-User, 2014–2021 (USD Million)
Table 7 Cryogenic Tanks Market Size, By Region, 2014–2021 (USD Million)
Table 8 Cryogenic Valves Market Size, By End-User, 2014–2021 (USD Million)
Table 9 Cryogenic Valves Market Size, By Region, 2014–2021 (USD Million)
Table 10 Cryogenic Vaporizers Market Size, By End-User, 2014–2021 (USD Million)
Table 11 Cryogenic Vaporizers Market Size, By End-User, 2014–2021 (USD Million)
Table 12 Cryogenic Pumps Market Size, By End-User, 2014–2021 (USD Million)
Table 13 Cryogenic Pumps Market Size, By End-User, 2014–2021 (USD Million)
Table 14 Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 15 Energy & Power Industry Market Size, By Product Type, 2014–2021 (USD Million)
Table 16 Chemicals Industry Market Size, By Product Type, 2014–2021 (USD Million)
Table 17 Metallurgy Industry Market Size, By Product Type, 2014–2021 (USD Million)
Table 18 Electronics Industry Market Size, By Product Type, 2014–2021 (USD Million)
Table 19 Ship Building Industry Market Size, By Product Type, 2014–2021 (USD Million)
Table 20 Other Industries Market Size, By Product Type, 2014–2021 (USD Million)
Table 21 Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 22 Nitrogen: Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 23 Oxygen: Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 24 Argon: Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 25 LNG: Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 26 Other Cryogen Gases: Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 27 Cryogenic Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 28 Asia-Pacific: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 29 Asia-Pacific: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 30 China: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 31 China: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 32 India: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 33 India: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 34 Australia: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 35 Australia: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 36 Japan: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 37 Japan: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 38 Malaysia: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 39 Malaysia: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 40 Europe: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 41 Europe: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 42 U.K.: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 43 U.K.: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 44 France: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 45 France: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 46 Germany: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 47 Germany: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 48 North America: Cryogenic Equipment Market Size, By Country, 2014–2021(USD Million)
Table 49 North America: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 50 U.S.: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 51 U.S.: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 52 Canada: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 53 Canada: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 54 Middle East: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 55 Middle East: Cryogenic Equipment Market Size, By End-User, 2014–2021
Table 56 Saudi Arabia: Cryogenic Equipment Market Size, By Equipment Type, 2014–2021 (USD Million)
Table 57 Saudi Arabia: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 58 South America: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 59 South America: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 60 Brazil: Cryogenic Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 61 Brazil: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 62 Argentina: Cryogenic Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 63 Argentina: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 64 Africa: Cryogenic Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 65 Africa: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 66 South Africa: Cryogenic Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 67 South Africa: Cryogenic Equipment Market Size, By End-User, 2014–2021 (USD Million)
Table 68 Contracts & Agreements
Table 69 Expansion
Table 70 New Product Launch
Table 71 Mergers & Acquisitions
Table 72 Other Developments (Certification, Partnership, & Product Development)

List of Figures

Figure 1 Markets Covered: Cryogenic Equipment Market
Figure 2 Cryogenic Equipment Market: Research Design
Figure 3 Crude Oil Production has Increased By 3 Million Bpd in the Past Five Years
Figure 4 Producing Well Count is Estimated to Be More Than One Million
Figure 5 Capital Spending on Exploration & Production Activities to Exceed $700 Billion in 2014
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Data Triangulation Methodology
Figure 9 Cryogenic Equipment Market Snapshot (2016 vs 2021): Tanks to Lead the Market in the Next Five Years
Figure 10 Energy & Power End-Users to Have Largest Share Among Other End-Users of Cryogenic Equipment During the Forecast Period
Figure 11 Cryogenic Equipment Market Size, By Cryogen Gases, 2021
Figure 12 Asia-Pacific Accounted for the Largest Market Share in Cryogenic Equipment Market in 2016
Figure 13 LNG Demand in Developing as Well as Developed Countries Offer Lucrative Opportunities
Figure 14 Vaporizers are Expected to Grow at A Faster Rate in the Global Market
Figure 15 Energy & Power End-Users Held the Largest Market Share in 2016
Figure 16 The Middle East & Africa are Expected to Grow at A High CAGR
Figure 17 Developing Economies to Grow Faster Than the Developed Ones
Figure 18 More Than 30% of the Total Market Growth Will Come From the Energy & Power End-User During the Forecast Period
Figure 19 Tanks Have A Promising Future in Emerging Economies of the Asia-Pacific Region
Figure 20 The Middle East Market is Expected to Enter the Exponential Growth Phase in Coming Years
Figure 21 Cryogenic Equipment Market Segmentation: By End-User
Figure 22 Cryogenic Equipment Market Segmentation: By Type
Figure 23 Cryogenic Equipment Market Segmentation: By Cryogen Gases
Figure 24 Industrialization & Modernization of Existing Infrastructures to Propel Market Growth
Figure 25 LNG Production From 1993–2013
Figure 26 Value Chain Analysis: Major Value is Added During Operation & After-Sales Phase
Figure 27 Porter’s Five Forces Analysis: Intensity of Rivalry is High in the Cryogenic Equipment Market
Figure 28 Tanks to Have the Largest Market By 2021
Figure 29 Ship Building is Expected to Have the Highest Growth During the Forecast Period
Figure 30 Cryogenic Equipment for LNG are Expected to Show the Highest Growth During the Forecast Period
Figure 31 Region-Wise Snapshot: Rapidly Growing Markets are Emerging as New Hotspots
Figure 32 Companies Adopted Various Growth Strategies in the Past Four Years
Figure 33 Market Share Analysis, 2016
Figure 34 Battle for Market Share: Contracts & Agreements is the Key Strategy Adopted By the Key Players
Figure 35 Market Leaders Based on the Developments 2011–2016
Figure 36 Market Evolution Framework- Contracts & Agreements has Led to Market Growth & Expansions has Fueled Growth & Innovation in 2011 –2016
Figure 37 Geographic Mix of the Top Players
Figure 38 Air Liquide: Business Overview
Figure 39 Beijing Tianhai Industry Co., Ltd.: Business Overview
Figure 41 Cryofab Inc.: Business Overview
Figure 42 Cryoquip LLC.: Business Overview
Figure 43 Herose GmbH: Business Overview
Figure 44 INOX India Ltd.: Business Overview
Figure 45 Linde Group AG: Business Overview
Figure 46 Taylor Wharton International LLC.: Business Overview
Figure 47 VRV S.P.A.: Business Overview
Figure 48 Chart Industries Inc.: Business Overview
Figure 48 Emerson: Business Overview
Figure 49 ACME Cryogenics (Graham Partners): Business Overview
Figure 50 Flowserve: Business Overview
Figure 51 Parker Hannifin: Business Overview

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