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Cryogenic Pumps Market Share
The cryogenic pumps industry is highly competitive, with established manufacturers and new entrants competing for market share in an evolving landscape. Key players are focusing on technological advancements, developing high-performance pumps that ensure efficient handling of cryogenic fluids. Market growth is driven by rising demand for energy-efficient solutions in industries such as energy, healthcare, and chemicals, coupled with stringent environmental regulations and the expanding use of liquefied gases like LNG, hydrogen, and oxygen in power generation, transportation, and industrial applications.
Cryogenic Pumps Market Companies
Major players operating in the cryogenic pumps industry are:
- Cryomec
- Cryostar
- Ebara
- Fives
- Flowserve
- Huzhou Baihui Cryogenic Equipment
- Indian Compressors
- Nikkiso
- PACKO Industry
- SHI Cryogenics Group
- SMS Pumps & Engineers
- Sumitomo Heavy Industries
- The Weir Group
- Trillium Flow Technologies
- Vanzetti Engineering
How big is the global cryogenic pumps market?
The global market size for cryogenic pumps was valued at USD 2.3 billion in 2024 and is projected to reach USD 4 billion by 2034, driven by a CAGR of 5.5% from 2025 to 2034.
What is the market size of the centrifugal cryogenic pumps industry by 2034?
The industry is expected to exceed USD 2 billion by 2034, driven by the rising adoption of cryogens like nitrogen and argon in various industrial processes.
What is the projected market size of the U.S. cryogenic pumps market by 2034?
The U.S. market is set to reach over USD 600 million by 2034, driven by the adoption of LNG across industrial sectors and rising investments in energy infrastructure.
Who are the major players in the cryogenic pumps industry?
Major players in the industry include Cryomec, Cryostar, Ebara, Fives, Flowserve, Huzhou Baihui Cryogenic Equipment, Indian Compressors, Nikkiso, PACKO Industry, SHI Cryogenics Group, SMS Pumps & Engineers, and Sumitomo Heavy Industries.