Cryogenic Equipment Market Size, Share, and Outlook, 2025 Report- By Equipment (Tanks, Valves, Vaporizers, Pumps, Others), By Cryogen (Nitrogen, Oxygen, Argon, LNG, Hydrogen, Others), By End-User (Metallurgy, Energy & Power, Chemical, Electronics, Transpo

Cryogenic Equipment Market Outlook

Cryogenic Equipment Market Size is forecast to reach $24.3 Billion in 2032 from $14.3 Billion in 2025, at an optimistic growth rate of 7.7% from 2025 to 2032. The robust Cryogenic Equipment Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Cryogenic Equipment Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Equipment (Tanks, Valves, Vaporizers, Pumps, Others), By Cryogen (Nitrogen, Oxygen, Argon, LNG, Hydrogen, Others), By End-User (Metallurgy, Energy & Power, Chemical, Electronics, Transportation, Others), By Application (CASU, Non-CASU), By System (Storage System, Handling System, Supply System, Others). Over 70 tables and charts showcase findings from our latest survey report on Cryogenic Equipment Markets.

Cryogenic Equipment Market Insights, 2025: Cryogenic Equipment – Key Drivers and Opportunities

Cryogenic equipment plays a crucial role in industries requiring extremely low temperatures, such as liquefied natural gas (LNG) production, space exploration, and medical applications. One of the key drivers of growth for the cryogenic equipment market is the rising demand for LNG, particularly in countries like China, India, and other parts of Asia where energy consumption is rapidly increasing. Cryogenic technology is essential for the liquefaction, storage, and transportation of natural gas, and with global energy demands escalating, the need for cryogenic systems is set to grow.

Another driver is the space exploration industry, where cryogenic equipment is integral to cooling components in space telescopes, infrared sensors, and rocket propulsion systems. As space missions become more ambitious, with ventures like Mars exploration and space tourism on the horizon, the demand for advanced cryogenic technology will likely rise. Further, quantum computing is also contributing to the growth of cryogenic equipment, as it requires extremely low temperatures for stable operation of quantum bits (qubits). This opens up new opportunities for manufacturers specializing in cryogenic cooling solutions.

In medical applications, cryogenic equipment is used in technologies like cryosurgery and the preservation of biological samples. The growing prevalence of chronic diseases and the expansion of biotech research are increasing the demand for cryogenic preservation methods. Additionally, advanced imaging technologies, such as MRI and PET scans, which rely on cryogenic coolers, are expected to drive further demand for these systems.

With the rise in renewable energy investments, cryogenic energy storage systems are also emerging as an opportunity. These systems can store energy by cooling and storing liquefied air, providing an innovative solution to energy storage challenges. As governments and industries prioritize energy transition goals, cryogenic energy storage technologies are likely to gain momentum, offering a growing market segment for cryogenic equipment.

Five Trends that will define global Cryogenic Equipment Market in 2025 and Beyond

A closer look at the multi-million global market for Cryogenic Equipment Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Cryogenic Equipment Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Cryogenic Equipment Industry?

The Cryogenic Equipment Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Cryogenic Equipment Market Segment Insights

The Cryogenic Equipment Industry presents strong offers across categories. The analytical report offers forecasts of Cryogenic Equipment Industry performance across segments and countries. Key segments in the industry include- By Equipment (Tanks, Valves, Vaporizers, Pumps, Others), By Cryogen (Nitrogen, Oxygen, Argon, LNG, Hydrogen, Others), By End-User (Metallurgy, Energy & Power, Chemical, Electronics, Transportation, Others), By Application (CASU, Non-CASU), By System (Storage System, Handling System, Supply System, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Cryogenic Equipment Market size outlook is provided for 22 countries across these regions.

Cryogenic Equipment Industry Value Chain

The chapter identifies potential companies and their operations across the global Cryogenic Equipment Industry ecosystem. It assists decision-makers in evaluating global Cryogenic Equipment Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Cryogenic Equipment Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Cryogenic Equipment Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Cryogenic Equipment Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Cryogenic Equipment Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Cryogenic Equipment Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Cryogenic Equipment Market Insights- Executives are most excited about opportunities for the US Cryogenic Equipment Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Cryogenic Equipment Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Cryogenic Equipment Market.

Latin American Cryogenic Equipment Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Cryogenic Equipment Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Cryogenic Equipment Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Cryogenic Equipment Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Cryogenic Equipment Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Acme Cryogenics Inc, Air Liquide S.A., Air Products and Chemicals Inc, Chart Industries Inc, CRYOFAB Inc, Cryostar SAS, Emerson Electric Co., Five Cryogenie SAS, Flowserve Corp, HEROSE GmbH, INOX India Ltd, Linde plc, Nikkiso Co. Ltd, Parker-Hannifin Corp, PHPK Technologies, Shell-N-Tube, Sulzer Ltd, Sumitomo Heavy Industries Cryogenics Co. Ltd, Taylor-Wharton International LLC, Wessington Cryogenics Ltd.

Cryogenic Equipment Market Scope and Segmentation

By Equipment

Tanks

Valves

Vaporizers

Pumps

Others

By Cryogen

Nitrogen

Oxygen

Argon

LNG

Hydrogen

Others

By End-User

Metallurgy

Energy & Power

Chemical

Electronics

Transportation

Others

By Application

CASU

Non-CASU

By System

Storage System

Handling System

Supply System

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Cryogenic Equipment Market Research-

Acme Cryogenics Inc

Air Liquide S.A.

Air Products and Chemicals Inc

Chart Industries Inc

CRYOFAB Inc

Cryostar SAS

Emerson Electric Co.

Five Cryogenie SAS

Flowserve Corp

HEROSE GmbH

INOX India Ltd

Linde plc

Nikkiso Co. Ltd

Parker-Hannifin Corp

PHPK Technologies

Shell-N-Tube

Sulzer Ltd

Sumitomo Heavy Industries Cryogenics Co. Ltd

Taylor-Wharton International LLC

Wessington Cryogenics Ltd

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
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• Get an integrated understanding of the entire market ecosystem and companies.
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