Global Cryogenic Vaporizer Market 2018-2022
About Cryogenic Vaporizer
Cryogenic vaporizers are used for regasification of liquefied natural gas at the point of use. It forms one of the essential parts of a cryogenic system.
Technavio’s analysts forecast the global cryogenic vaporizer market to grow at a CAGR of 6.31% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global cryogenic vaporizer market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Cryogenic Vaporizer Market 2018-2022
Technavio recognizes the following companies as the key players in the global cryogenic vaporizer market: Chart Industries, Cryonorm, INOX Group, and The Linde Group.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological advances enhance scope of cryogenics. Cryogenic technology has improved at a rapid rate in the recent years. Intense research on cryogenics worldwide has led to technological advances that have broadened the scope of cryogenics in all major end-users such as medical, industrial, energy, and food processing. In the recent years, technologies such as hydrofracturing have boosted the oil and gas production to new heights; however, the environmental impact of this process has laid down concerns regarding the future of this technology.”
According to the report, one driver in the market is increasing popularity of cryogenics in the life sciences industry. The global life sciences industry is constantly experiencing technological advances and innovations in areas such as immunotherapy, vaccinations, regenerative medicines, and biopharmaceuticals. These areas require cryogenic temperatures for storage, preservation, and treatment applications. For instance, in immunotherapies such as chimeric antigen receptor (CAR) T-cell therapy, immune cells named T-cells are collected from the patient’s blood and are genetically engineered to produce special receptors on the surface known as chimeric antigen receptors.
Further, the report states that one challenge in the market is operational issues in LNG plants. The major concern for liquid metal embrittlement (LME) in an LNG plant arises from exposure of aluminum alloys in the cold box to accumulated mercury from the feed gas. LME is a corrosive attack that causes cracks in the equipment due to the presence of mercury. The amount of mercury and its location in cryogenic exchangers are often unknown and difficult to estimate. As long as the cold temperature remains below the freezing point of mercury at -37.9°F, the plant will not face any LME issues. "
Chart Industries, Cryonorm, INOX Group, and The Linde Group.