Global 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 vapors 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.
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.
Key Players
Leading
players profiled in the cryogenic pump market report include Technex Limited
(India), Ruhrpumpen Inc. (Mexico), PHPK Technologies Inc. (US), Nikkiso Cryo
Inc. (US), Cryostar SAS (France), Cryoquip Australia, Brooks Automation (US),
Fives S.A. (France), Sumitomo Heavy Industries (Japan), Flowserve Corporation
(US), and Ebara Corporation (Japan), among others. The key players have used
numerous strategies to create a foothold in this market. These include product
innovation, partnership, acquisitions, mergers, research and development and
much more.
Market Segmentation
The
MRFR report provides a complete segmental analysis of the Cryogenic
Pump Market Analysis on the basis of type, gas, and end use.
Based
on type, the cryogenic pump market is segmented into positive displacement and
centrifugal. Among these, the positive displacement segment will have the
largest share in the market over the forecast period. This is due to its
increasing adoption in numerous end use industries including electricals and
electronics, healthcare, and others. Positive displacement pumps possess high
viscosity and thus cater to applications, which need high pressure.
Based
on gas, the cryogenic pump market is segmented into LNG, argon, oxygen,
nitrogen, and others. Among these, the LNG segment will dominate the market
over the forecast period.
Based
on end use, the cryogenic pump market is segmented into electronics,
metallurgy, chemicals, energy and power, and others. Among these, the energy
and power segment will have the maximum share in the market over the forecast
period.
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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