Cryogenic Pump Market Overview
The
global cryogenic pump market is predicted to grow at a 4.02% CAGR over the
forecast period, states the new Market Research Future (MRFR) report. A
cryogenic pump or cryopump is a vacuum pump which traps vapours and gases by
condensing the same on a cold surface. However, these pumps are effective only
on some gases; the effectiveness of the pump depends on the boiling and
freezing points of the gas, which are relative to the temperature of the
cryogenic pump.
These
pumps offer high-speed, clean pumping of gases. They function through
adsorption and condensation of vapours and gases on surfaces held at low
temperatures. Positive displacement and
centrifugal are the two types of cryogenic pumps. Such pumps offer high pumping
speeds and are widely used in the healthcare, electronics, and energy and power
industries.
Industry Highlights
Various
factors are propelling the cryogenic pump market growth. Some of these factors
according to the Market Research Future (MRFR) report, include increasing
demand from numerous end use industries including healthcare, chemicals,
metallurgy, and energy and power, rising LNG production, and burgeoning demand
for medical gases in the healthcare industry for diagnosis as well as treatment
of different respiratory diseases such as asthma and others.
Cryogenic
pump is a vacuum pump used in cryogenic temperatures to transfer cryogenic
liquids. These pumps are also used to transfer such cryogenic fluids between
containers or from one container to a point of use. The major types of
cryogenic pumps, i.e., long shaft cryogenic pumps efficiently transfer liquids
cryogens while minimizing heat leak. The applications of these pumps include
the circulation of liquid nitrogen for high temperature superconductors and for
synchrotron beamline crystal cooling. The main components of cryogenic pumps
include a thermal shield, a condensing array, a cold head cylinder, and a low
temperature array.
The
global cryogenic pump market is set to witness significant growth due to the
increasing gas-based power generation and rising demand for medical gases.
Complex industrial processes would incorporate the use of liquid gases, which
would fuel the growth of cryogenic pumps. Similarly, a rise in the demand for
energy & power industry would drive the demand for LNG based power
generation and thus the growing use of oil tankers for transportation in the
shipbuilding industry. Such factors would boost the growth of cryogenic pumps.
Leading Players
The
key players of global cryogenic pump market are Ebara Corporation (Japan),
Flowserve Corporation (US), Sumitomo Heavy Industries (Japan), Fives S.A.
(France), Brooks Automation (US), Cryoquip Australia, Cryostar SAS (France),
Nikkiso Cryo Inc. (US), PHPK Technologies Inc. (US), Ruhrpumpen Inc. (Mexico),
and Technex Limited (India).
Segmentation
The
cryogenic pump market has been segmented on the basis of type as centrifugal
and positive displacement. Among these types, positive displacement segment is
the largest segment in the cryogenic pump market due to an increase in the use
of positive displacement pumps in Asia-Pacific, Europe, and North America as
these pumps have a constant flow at various viscosities and pressures.
Regional Outlook
Region
wise, Asia-Pacific held the largest market share of the global cryogenic pump
market in 2017. The growth in this region is driven by industrial development
in emerging countries such as China, India, Malaysia, and other Southeast Asian
countries. It is estimated that Asia-Pacific region would be the fastest
growing market during the forecast period, mainly due to the growing energy
need, focus on renewable generation, and rapid urbanization.
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