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Global Cryogenic Equipment Market 2016-2020

Global Cryogenic Equipment Market 2016-2020

About Cryogenic Technology

Cryogenic technology involves production, maintenance, and application of low temperatures below 150⁰F. This technology has increased its scope of application from cold storage to core processes in various end-user industries. The petrochemical and chemical industry holds a major revenue share in the global cryogenic equipment market. The applications of cryogenic equipment such as valves, pumps, vaporizers, and storage tanks in the petrochemical and chemical industry play a crucial role in maintaining the temperature of LNG and preventing leakages.

Technavio’s analysts forecast the global cryogenic equipment market to grow at a CAGR of 6.05% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global cryogenic equipment market for 2016-2020. To calculate the market size, the report estimates the demand for cryogenic equipment from various end-user industries such as petrochemical and chemical, metallurgy, power, semiconductors, and others.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Cryogenic Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Chart Industries
  • Cryofab
  • INOXCVA
  • Linde
  • VRV
  • Wessington Cryogenics
Market driver
  • Natural gas set to surpass coal in primary energy mix in coal-dominant economies
  • For a full, detailed list, view our report
Market challenge
  • Operational issues in LNG plants
  • For a full, detailed list, view our report
Market trend
  • Technological advances enhance scope of cryogenics
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Cryogenic Equipment Market 2016-2020

Technavio recognizes the following companies as the key players in the global cryogenic equipment market: Chart Industries, Cryofab, INOXCVA, Linde, VRV, and Wessington Cryogenics.

Commenting on the report, an analyst from Technavio’s team said: “Commercialization of HTS cables will be a key trend for market growth. Development of HTS cables is a major development in the power sector that will drive the demand for cryogenic equipment. These cables require cryogenic cooling during operations for proper functioning. Upgrade of transmission and distribution networks worldwide can be considered as a major driver to accelerate the demand for HTS cables. These cables have high transfer efficiency and can transmit 10 times more power than conventional cables. HTS cables have the potential to reduce T&D losses, thus saving the cost borne by utilities in lost electricity. The technology uses LN₂ for cooling purposes instead of dielectric oil, which is used in HVDC cables.”

According to the report, one of the key drivers for market growth will be recovery of stalled projects in India. India is one of the leading developing economies in the world. However, growing population and rising energy demand in the country have resulted in severe power shortage. In order to meet the increasing power demand, the government is planning to revive existing gas-based power plants in the country. India’s unpredictable production of gas reserves has resulted in poor infrastructure development in the past. The lack of LNG terminals in the country has restricted LNG supply to certain regions. India has the least gas pipeline length per million when compared to other developing and developed nations. The country’s existing pipeline capacity of about 9,000 miles should double to cater to the demand for natural gas by various end-user sectors.

Further, the report states that slowdown in steel industry will be a challenge for the market. Cryogenic gases play an integral role in the metal processing sector. Industrial gases such as argon, oxygen, and nitrogen are delivered to end-users in liquid form at cryogenic temperatures and are stored in tanks for further use. The steel industry is one of the major end-users of oxygen as it plays a crucial role in convertor melting process. Nitrogen is used as a shielding gas to protect technological processes against ambient air and its oxidizing components (moisture, oxygen, and CO₂). Argon is used in the production of high-quality metals and alloys in processes that require prevention of contact between the molten metal and ambient air and its main components, nitrogen and oxygen.

Companies Mentioned

Chart Industries, Cryofab, INOXCVA, Linde, VRV, Wessington Cryogenics.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table US shale gas production 2007-2014 (BCM)
      • Table Overview of LNG projects worldwide as of May 2016
      • Table Top 10 countries in terms of CO emissions 2014 (MtCO )
      • Table Global cryogenic equipment market by end-user growth 2015-2020
  • Market landscape
    • Market overview
    • Market size and forecast
      • Table Global cryogenic equipment market 2015-2020 ($ billions)
      • Table Henry Hub historical average prices of natural gas 1997-2016 ($/MBTU)
      • Table Long-term LNG deals of India
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global cryogenic equipment market by end-user
      • Table Global cryogenic equipment market by end-user 2015 and 2020
    • Global cryogenic equipment market in petrochemical and chemical industries
      • Table Global cryogenic equipment market in petrochemical and chemical industries 2015-2020
      • Table Number of gas tankers worldwide 2005, 2010, and 2015
      • Table Top exporting countries in 2015
      • Table Top importing countries in 2015
      • Table LNG liquefaction capacity under construction as of January 2016
      • Table FLNG capacity of leading countries under construction as of January 2016
      • Table Proposed FLNG construction as of January 2016
    • Global cryogenic equipment market in metallurgy industry
      • Table Global cryogenic equipment market in metallurgy industry 2015-2020
      • Table Overview of sub-zero cryogenic treatments
      • Table Outlook of top 10 steel consuming countries 2015-2017
      • Table Production of steel and growth rate 2010-2015
      • Table Historic annual growth rate of steel industry
      • Table Average construction spending by country in APAC 2015
    • Global cryogenic equipment market in power industry
      • Table Global cryogenic equipment in power industry 2015-2020
      • Table Gas-based power plant planned capacity in US 2016-2018 (MW)
    • Global cryogenic equipment market in electronics industry
      • Table Global cryogenic equipment market in electronics industry 2015-2020
      • Table Smart phone penetration rate 2014-2016
      • Table Evolution of components in automotive 1970-2010
      • Table Automotive electronic cost share of vehicles 1990-2030
  • Geographical segmentation
    • Global cryogenic equipment market by geographical segmentation
      • Table Geographical segmentation overview
    • Cryogenic equipment market in APAC
      • Table Cryogenic equipment market in APAC 2015-2020
      • Table Share of steel production and steel use by region 2014
      • Table LNG liquefaction projects as of May 2016
      • Table Regasification LNG terminals as of May 2016
      • Table Energy mix of India as of 2015
      • Table Energy mix of China in 2015
    • Cryogenic equipment market in EMEA
      • Table Cryogenic equipment market in EMEA 2015-2020
      • Table LNG liquefaction terminals in EMEA
      • Table LNG regasification units in EMEA
      • Table Annual per capita consumption of beer in Europe 2009 and 2014
      • Table Top five beer exporting countries in 2014 (hectoliters)
      • Table European beer exports 2009-2014 (hectoliters)
    • Cryogenic equipment market in Americas
      • Table Cryogenic equipment market in Americas 2015-2020
      • Table Unproved technically recoverable wet shale gas reserves in US, Mexico, and Canada (trillion cubic feet) 2015
      • Table Number of liquefaction plants as of May 2016
      • Table Number of regasification units as of May 2016
      • Table Infrastructure quality ratings of export countries worldwide 2015
  • Market drivers
    • Recovery of stalled projects in India
      • Table Miles of gas pipelines per million as of 2014
    • Growing applications in life sciences
    • Natural gas set to surpass coal in primary energy mix in coaldominant economies
      • Table LNG imports of China 2010-2014
    • Increased demand for nitrogen from food processing industry
      • Table Global food packaging industry 2015-2020 ($ billions)
      • Table Advantages of LN in meat processing
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Slowdown in steel industry
      • Table Application of cryogenic gases in iron and steel industry
      • Table Regional outlook for steel growth in 2016 and 2017
      • Table Top 10 steel producing countries
    • Declining demand for LNG from South Korea and Japan
      • Table LNG consumption in Japan and South Korea 2010-2014
    • Operational issues in LNG plants
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Technological advances enhance scope of cryogenics
    • Commercialization of HTS cables
      • Table Global HTS power cable projects
  • Vendor landscape
    • Vendor analysis
      • Table Geographical presence of vendors
      • Table Mapping of key vendors
      • Table Key vendor ratings
  • Key vendor analysis
    • Chart Industries
    • Cryofab
    • INOXCVA
    • Linde
    • VRV
    • Wessington Cryogenics
  • Appendix
    • List of abbreviations
  • Explore Technavio

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