Cryogenic Pump Market Report by Type (Centrifugal, and Positive
Displacement), Gas (Nitrogen, Oxygen, Argon, and LNG), End-Use (Energy &
Power, Chemicals, Metallurgy, Electronics), and Region
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.
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.
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
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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