- Report ID: BMRC 881 | Number of pages: 200 | Publish Date: Feb 2020
Status: Published | Category: Heavy Industry | Delivery Timeline:
Cryogenic Pumps Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Cryogenic Pumps Market place for the forecast 2020– 2025.
The cryogenic pumps market is majorly powered by factors such as increasing investments in the energy & power industry and increase in use of gases across bioscience & health care facilities.
A cryogenic pump is a vacuum pump that grabs gas via surfaces, which are cooled to below 120K temperatures. These pumps provide vacuum pumping techniques of choice for different ultra-high-vacuum and high-vacuum applications owing to their cleanliness, high pumping speeds, and reliability. They can pump almost all gases, comprising noble gases, at lower temperatures.
The global cryogenic pumps market can be divided by gas, type, region, and end-user. By type, the global cryogenic pumps market can be segmented into positive displacement and centrifugal displacement. The positive displacement section is predicted to see development during the forecast period at the maximum rate. A positive displacement pump is a machine that transfers liquids by holding a specific amount of the liquid and displacing it into different pipe. Increasing adoption of positive displacement pumps in different end-use segments, such as electricals & electronics and health care, is powering the global cryogenic pumps market.
By gas, the cryogenic pumps market can be divided into hydrogen, nitrogen, LNG, argon, and others. The hydrogen section added up for the maximum share of the global cryogenic pumps market and is predicted to sustain its dominance all over the coming period. On the flip side, LNG is predicted to be the quickly growing section during the coming period. This can be credited to rising employment of LNG for power generation in the energy & power sector and increasing employment of oil tankers in the shipbuilding industry for transportation.
The major players comprised in the global cryogenic pump market forecast are,
By Type: Positive Displacement Pumps, Kinetic Pumps, Entrapment Pumps
By Gas: Nitrogen, Hydrogen, Helium, Argon, Others
By End-Use Industry: Healthcare Industry, Power Generation Industry, Electrical & Electronics Industry, Metallurgy Industry, Others
Rising Spending In Oil & Gas And Electrical & Electronics Sectors Predicted To Power The Cryogenic Pumps Market During The Coming Period
The cryogenic pumps market is majorly powered by factors such as increasing investments in the energy & power industry and increase in use of gases across bioscience & health care facilities. In addition to this, rising spending in oil & gas and electrical & electronics sectors are also predicted to power the cryogenic pumps market during the coming period. On the other hand, reduction in steel production hampers the global cryogenic pumps market, as huge amounts of industrial gases such as helium, argon, nitrogen, and oxygen are comprised in the making of steel and these gases are transferred with the help of cryogenic pumps.
The Global Cryogenic Pumps Market In Asia Pacific Is Predicted To Grow At The Max Rate During The Coming Period
By region, the global cryogenic pumps market can be divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominated the global cryogenic pumps market, after North America. The global cryogenic pumps market in Asia Pacific is predicted to grow at the max rate during the coming period. High spending in the infrastructure sector and rise in focus on renewable-based electricity creation in Asia Pacific are predicted to offer substantial development opportunities to the global cryogenic pumps market in the next few years in the region. India, China, South Korea, and Japan are primary contributors to the global cryogenic pumps market in the area. Europe is one more key global cryogenic pumps market.
Market by Regional Analysis
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
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Cryogenic Pumps Market 2020 By Type (Positive Displacement Pumps, Kinetic Pumps, Entrapment Pumps), By Gas (Nitrogen, Hydrogen, Helium, Argon, Others) Forecast to 2025