Cryogenic Pump Market Size, Share & Trends Analysis Report By Type (Centrifugal, Positive Displacement), By Cryogen Type (LNG, Nitrogen), By End Use (Oil & Gas, Metallurgy), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Cryogenic Pump Market Size, Share & Trends Analysis Report By Type (Centrifugal, Positive Displacement), By Cryogen Type (LNG, Nitrogen), By End Use (Oil & Gas, Metallurgy), By Region (North America, Europe), And Segment Forecasts, 2024 - 2030

Cryogenic Pump Market Size & Trends

The global cryogenic pump market size was estimated at USD 2.51 billion in 2023 and is projected to grow at a CAGR of 5.1% from 2024 to 2030. The increasing demand for cryogenic pumps in various end-use industries, such as oil & gas, metallurgy, and electronics, is driving market growth. These pumps are essential for handling and transporting cryogenic fluids, including LNG, nitrogen, and oxygen, which are critical for numerous industrial processes.

The market is also being driven by stringent environmental regulations and standards aimed at reducing emissions and enhancing energy efficiency. The adoption of cryogenic pumps in renewable energy applications, such as hydrogen production and storage, is anticipated to bolster market growth. Furthermore, the increasing investments in infrastructure development, particularly in emerging economies, are likely to support the demand for cryogenic pumps.

Advancements in cryogenic technologies, coupled with the integration of automation and digitalization in pumping systems, are further propelling market growth. The development of high-efficiency cryogenic pumps that reduce energy consumption and minimize operational costs is a significant trend in the industry. Additionally, the rising focus on clean energy and the growing LNG trade are expected to create substantial opportunities for market expansion.

Global Cryogenic Pump Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cryogenic pump market based on type, cryogen type, end use, and region:

• Type Outlook (Revenue, USD Million, 2018 - 2030)
• Centrifugal Pump
• Positive Displacement Pump
• Cryogen Type Outlook (Revenue, USD Million, 2018 - 2030)
• LNG
• Nitrogen
• Oxygen
• Argon
• Helium
• Others
• End Use Outlook (Revenue, USD Million, 2018 - 2030)
• Oil & Gas
• Metallurgy
• Power Generation
• Chemical & Petrochemical
• Electronics
• Others
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Please note The report will be delivered in 4-8 business days upon order notification.