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Cryogenic Pumps Market Size
- Report ID: GMI5718
- Published Date: Dec 2024
- Report Format: PDF
Cryogenic Pumps Market Size
The global cryogenic pumps market was valued at USD 2.3 billion in 2024 and is estimated to grow at a CAGR of 5.5% from 2025 to 2034. The industry is poised for growth fueled by the increasing foreign direct investments in emerging economies and the ongoing expansion of industrial facilities.
The rising demand for the storage and transportation of cryogens including hydrogen, LNG, and oxygen will further fuel product demand. Additionally, advancements in innovative and sustainable technologies have improved cryogenic handling techniques, creating new opportunities for business expansion.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Cryogenic Pumps Market Size in 2024: | USD 2.3 Billion |
| Forecast Period: | 2025 - 2034 |
| Forecast Period 2025 - 2034 CAGR: | 5.5% |
| 2034 Value Projection: | USD 4 Billion |
| Historical Data for: | 2021 - 2024 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Product, Cryogens Type, End Use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Cryogenic pumps are specialized equipment designed to manage and transport cryogenic fluids and liquefied gases stored at extremely low temperatures. They work by maintaining the fluid at its cryogenic state while ensuring efficient flow without causing vaporization or pressure loss. Investments in healthcare infrastructure, including hospitals and public and private laboratories, will also contribute to industry growth. Furthermore, the implementation of stricter GHG regulations, combined with the growing LNG trade, is expected to boost industry revenue in the coming years.
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Cryogenic Pumps Market Scope
