Fast Market Research announces the availability of the new Markets and Markets report, "Cryogenic Pump Market - Global Trends & Forecasts to 2021", on their comprehensive research portal
Boston, MA -- (SBWIRE) -- 05/02/2016 -- Cryogenic Pump Market by Type (Centrifugal, Positive Displacement), by Gas (Nitrogen, Oxygen, Argon, LNG, and Others), by End-User (Energy & Power, Chemicals, Metallurgy, Electronics, and Others), & by Region - Global Trends & Forecasts to 2021
"Cryogenic pump market is projected to reach USD 1.96 billion by 2021."
The cryogenic pump market is expected to reach USD 1.96 billion by 2021, at a CAGR of 3.28% from 2016 to 2021. Liquefied Natural Gas (LNG) being a low emission fuel has been favored by various regulations due to environmental concerns. Hence, increasing demand for gas-based generation has been boosting the demand for cryogenic pumps. In addition, end-use industries such as energy & power, chemicals, metallurgy, and food & beverage are deploying cryogenic pumps for production and transportation of cryogenic liquids such as LNG, nitrogen, oxygen, argon, and helium.
Get More Details on this Report and a Full Table of Contents at Cryogenic Pump Market - Global Trends & Forecasts to 2021
"Energy and power segment is the largest market, by end-user"
The energy and power segment is the largest end-user market. Cryogenic pumps are used to handle, store, transfer, and supply cryogenic gases such as nitrogen, oxygen, argon, hydrogen, and LNG. These pumps find application in energy & power industry in LNG plants and LNG storage tanks. The recent growth in the LNG market, driven mainly by increase in gas-based generation, is likely to drive the demand for cryogenic pumps in the energy and power industry.
"Asia-Pacific is the largest market"
The Asia-Pacific region is expected to lead the cryogenic pump market, with the largest estimated market share in 2016, and is projected to grow at the second highest CAGR from 2016 to 2021. This growth can be attributed to the utilization of cryogenic pumps by countries such as India, China, and Australia, among others. Investments in the energy sectors have grown considerable in the past 5 years, creating a huge demand for cryogenic pumps in the region. Further, the region is developing as the fastest growing end-market for chemicals and electronics. The region houses the world's biggest steel industry, which would further boost the cryogenic pump market in the region.
The primary participants for the report have been categorized on the basis of company type, designation, and region. The details are as follows:
-By Company Type: Tier 1 - 50%, Tier 2 - 21%, and Tier 3 - 29%
-By Designation: C level - 38%, Director level - 29%, and Others- 33%
-By Region: North America - 11%, Europe - 21%, Asia-Pacific - 36%, and RoW - 32%
Positive displacement is one of the emerging types of cryogenic pump because of its increasing applications in various industries such as shipbuilding, energy and power, food & beverage, and healthcare. This is the best solution for transporting liquefied gases such as oxygen, nitrogen, helium, LNG, and argon. This segment is expected to grow at the highest CAGR during the forecast period. The Middle East is a potential market for positive displacement cryogenic pumps due to its natural gas reserves and growing food & beverage industry.
List of companies profiled in the report include:
-Sumitomo Heavy Industries Ltd.
-Brooks Automation Inc.
-Nikkiso Cryo Inc.
-PHPK Technologies Inc.
-Sehwa Tech Inc.
Why buy this report
1. The report identifies and addresses key markets for cryogenic pump, which is useful for suppliers and OEMs to review production and distribution plans.
2. The report includes analysis of key countries by end-user application of cryogenic pumps; for instance, its application in energy and power, chemicals, metallurgy, electronics, and others (infrastructure, healthcare, food & beverage, shipbuilding, and aerospace). It analyzes historical trends and also forecast for 2021, assisting in strategic decision making.
3. It presents competition by analyzing recent market developments such as key contracts, expansions, and mergers & acquisitions from the key global market players. It helps understand the competition strategies and plan respective initiatives.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Energy research reports at Fast Market Research
You may also be interested in these related reports:
-Variable Frequency Drives Market - Global Trends & Forecasts to 2021
-Protective Relay Market - Global Trends and Forecasts to 2021
-Field-Erected Cooling Tower Market - Global Trends & Forecasts to 2021
-Diaphragm Pumps Market - Global Trends & Forecast to 2021
-Dosing Systems Market - Global Trends and Forecasts to 2019