Cryogenic Pump Market Analysis
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. A detailed analysis report of COVID-19
impact on Cryogenic Pump Market is provided with the
report.
These pumps offer high-speed, clean pumping of
gases. They function through adsorption and condensation of vapors 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.
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 Industry Segmentation
The MRFR report provides a complete segmental
analysis of the cryogenic pump market 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 Analysis
Based on region, the cryogenic pump market report
covers latest trends and growth opportunities across North America, South
America, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA).
Of these, the APAC region will spearhead the market
over the forecast period. This is owing to the industrial development in
Malaysia, India, China, and other Southeast Asian countries. The APAC region is
predicted to grow at the fastest pace owing to the burgeoning energy need,
rapid urbanization, and increasing focus on renewable energy generation.
The cryogenic pump market in North America will have
a favourable growth over the forecast period. This is due to the increasing
demand for cryogenic pumps in the healthcare sector and increasing adoption of
products that are technologically advanced.
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.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Read More:
No comments:
Post a Comment