MarketsandMarkets: Global Cryogenic Equipment Market Worth $17.1 Billion by 2017
DALLAS, September 27, 2012 /PRNewswire/ –
The report, “Cryogenic Equipment Market, by Industry Application, Cryogenic (Low
Temperature) Liquid, & Product Type (Tank, Valve, Vaporizer & Pump) – Global Trends &
Forecasts up to 2017″ defines and segments the global cryogenic equipment market with
analysis and forecasting of the revenue generated by cryogenic equipments such as tanks,
valves, vaporizers, pumps, pipes, flanges, and others. The global cryogenic equipment
market will grow from an estimated $11.9 billion in 2012 to $17.1 billion by 2017, with a
CAGR of 7.5% from 2012 to 2017.
Browse 81 market data tables and 13 figures spread through 222 pages and in-depth TOC
on “Cryogenic Equipment Market, by Industry Application, Cryogenic (Low Temperature)
Liquid, & Product Type (Tank, Valve, Vaporizer & Pump) – Global Trends & Forecasts up to
Early buyers will receive 10% customization on reports.
Cryogenic equipments, which are required to handle cryogenic gases or liquids such as
nitrogen, oxygen, helium, liquefied natural gas (LNG), and similar other liquefied gases
have an old and mature market. These equipments are used across many industries where
liquefied gases are the part of industrial processes or needed as raw products.
The report also identifies driving and restraining factors for the global cryogenic
equipment market with analysis of trends, opportunities, burning issues, winning
imperatives, and challenges. The market is segmented and revenues are forecasted on the
basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World
(ROW). The key countries are covered and forecasted for each region. Further, market is
segmented and revenues are forecasted on the basis of industrial applications, cryogenic
products/equipments, and gases/liquids.
Tank is the key cryogenic equipment used for storing and transporting the cryogenic
liquefied gases, holding the largest share in total cryogenic equipment revenue. The other
cryogenic products which hold significant share in overall market revenue are valves,
vaporizer, and pump.
Increasing demand from the energy and power industry is the major driver for global
cryogenic equipment market. The industry is the largest consumer of cryogenic equipment
and in next five years is estimated to contribute one third in annual demand growth.
Similarly, China is the largest geographic market and its economic growth represents
industrial growths in the region. Industries such as energy and power, chemical,
metallurgy, shipbuilding, and electronics are the main consumer of cryogenic equipment and
their growth will also expand the market for cryogenic equipments. Being the largest
regional market, China’s growth significantly affects the global cryogenic market.
Recently, trade of natural gas has increased which offers tremendous opportunity for
cryogenic equipments. In absence of pipelines, natural gas liquefies the liquefied natural
gas (LNG) and transportation. The whole process starting from liquefaction to
transportation and at last again gasification requires cryogenic equipments. LNG, which
contributes only a small portion in cryogenic market revenue, owing to the future
investments will become a major contributor.
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