Cryogenic Pump Market Review 2025

The global cryogenic pump market is projected to grow significantly by 2025, driven by the rising demand in various industries such as metallurgy, energy, healthcare, and electronics. A cryogenic pump is used for transferring gases in liquefied state at extremely low temperatures, which is crucial for many applications including storage, transport, and processing of cryogenic fluids.

Market Overview

The cryogenic pump market is poised for noteworthy growth over the forecast period (2025 - 2030). Key factors driving this growth include advancements in technologies, increased investments in LNG (Liquefied Natural Gas) infrastructure, and the burgeoning demand for medical gases amid the rise of the healthcare sector.

Market Size

As of 2025, the global cryogenic pump market was valued at approximately $3.20 billion. By 2025, the market is expected to reach around $4.10 billion, growing at a CAGR of 5.4% over the forecast period.

Market Share & Trends Analysis

By Product Type

In terms of product type, the cryogenic pumps are divided into positive displacement pumps, centrifugal pumps, and others. Currently, the centrifugal segment dominates the market holding more than 60% share due to its effectiveness in handling large volumes of cryogenic liquids. Positive displacement pumps are expected to witness significant growth, with a CAGR of about 6% over the forecast period.

By Key Players

The competitive landscape of the cryogenic pump market includes leading players such as Nikkiso, Ebara Corporation, SHI Cryogenics, Fives Group, Cryostar, PHPK Technologies, Barber-Nichols, Sulzer, Technex, Vanzetti Engineering, HSR AG, Ruhrpumpen Group, OPTIMEX, and CS&P Technologies. These companies contribute significantly to the market through their innovative offerings and strategic partnerships.

By Process

The cryogenic pump market can be segregated based on the process into two main categories: cryogenic storage and cryogenic transportation. Cryogenic storage accounts for over 55% of the market, driven by the increasing demand for LNG storage facilities globally. The transportation segment is expected to grow at a faster rate, projected at a CAGR of 7.2% between 2025 and 2030.

By Application

The applications of cryogenic pumps are vast, with significant utilization in metallurgy, energy & power, chemicals, electronics, and healthcare & pharmaceuticals. The metallurgy segment remains the largest application segment, holding around 40% market share due to the high demand for liquid oxygen and nitrogen in steel production. The healthcare segment is expected to see robust growth, driven by the increasing usage of medical gases and cryopreservation techniques.

By End-Use

In terms of end-use, the market can be classified into industrial and commercial. The industrial segment leads the market with a share of around 68%, propelled by the ongoing expansion of manufacturing sectors that require cryogenic processes, particularly in metallurgy and energy production. On the other hand, the commercial segment is gaining traction due to rising healthcare applications and technological advancements in cryogenic technologies.

By Region

Regionally, the cryogenic pump market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America leads the market with a share exceeding 35%, largely due to the heightened demand for LNG and industrial gas applications. The Asia Pacific region is anticipated to experience the highest growth rate, projected at over 8% CAGR, fueled by urbanization and rapidly expanding industrial sectors, particularly in countries like China and India.

Market News on Policy and Companies

Recent policy changes in various nations are emphasizing cleaner energy solutions, thereby increasing the demand for LNG. In May 2025, the U.S. Department of Energy announced funding for expanding the cryogenic storage capabilities, which has further fueled the development of advanced cryogenic technologies.

Companies in the cryogenic pump market are focusing on expanding their production capabilities and enhancing technological innovation. For example, Ebara Corporation has recently launched a new series of cryogenic pumps that offer higher efficiency and environmentally friendly options.

Segment Forecasts 2025 - 2030

The cryogenic pump market segment forecasts for the period 2025 - 2030 indicate robust growth across regions and application areas. Positive displacement pumps and centrifugal pumps will dominate, while advancements in cryogenic technologies will continue to open new applications, especially in energy storage and hydrocarbons. The healthcare application segment is expected to grow at a CAGR of approximately 7.5%, reflecting the increasing demand for medical gases.

Conclusion

The cryogenic pump market is on the brink of substantial growth, supported by industrial demand, technological advancements, and supportive public policies aimed at harnessing cleaner energy resources. The market will likely experience vigorous innovation and expanding applications across multiple regions and industries, making it a key player in the global energy landscape by 2025.