Cryogenic Pump Market Expected to Reach $592 million by 2023 – Sumitomo Heavy, Flowserve, Ebara, Linde, Nikkiso, Brooks Automation, PHPK Technologies, Global Tech India, Technex, Fives

Cryogenic pump is a special type of centrifugal pump used in industries to pump low-temperature liquids and coolants. It is made up of special elastomers and is hermetically sealed to withstand low temperatures and avoid heat leakage. These pumps consist of one or more impellers and a diffuser. Velocity inside a cryogenic pump is converted into pressure through diffusion process. The cryogenic pump designing technology has uniquely clubbed technological vacuum considerations and cryogenic aspects. They are used for refrigeration purposes with the help of cryogenic gases such as liquid nitrogen, argon, and others. They provide have safety against power breakdown, as they do not require electric supply with liquid cryogens. The emergence of cryogenic pumps has reduced carbon emission problems. Moreover, properties such as higher isentropic efficiency, radial force balance, minimal maintenance, reliability, no shaft seal & bearings problems, and high safety levels have made them ideal for industrial use.

Increase in demand for medical gases, renewable-based generation of electricity, and rise in investments in infrastructure are the major factors that drive the growth of the cryogenic pump market. Furthermore, rise in use of liquefied natural gases in the power generation sector is expected to boost the market growth. In addition, increase in applications of cryogenic pumps in other sectors, such as electronics and chemicals, supplements the growth of the market. However, reduction of steel plants negatively affects the growth of this market, as cryogenic pumps are widely used in steel plants for transfer of cryogenic gases for industrial use

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The report segments the cryogenic pump market based on type, gas, end-use industry, and region. Based on type, the market is categorized into positive displacement pumps, kinetic pumps, and entrapment pumps. Depending on cryogenic gas, it is classified into nitrogen, hydrogen, helium, argon, and others.

The end-use industry covered in the study include healthcare, power generation industry, electrical & electronics industry, metallurgy industry, and others. Based on region, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

This report entails the detailed quantitative analysis of current trends and future estimations from 2017 to 2023, which assist to identify the prevailing market opportunities to capitalize on the global cryogenic pump market.
In-depth coverage of the market including drivers, restraints, and opportunities helps professionals to better understand the market behavior.
Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
Porter’s Five Forces analysis examines the competitive structure of the market and assists strategists in better decision-making.
Pinpoint analysis of geographical segments helps to identify opportunities for growth within the market.

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KEY MARKET SEGMENTS

By Type

Positive Displacement Pumps
Kinetic Pumps
Entrapment Pumps

By Gas

Nitrogen
Hydrogen
Helium
Argon
Others

By End-Use Industry

Healthcare Industry
Power Generation Industry
Electrical & Electronics Industry
Metallurgy Industry
Others

By Region

North America
U.S.
Canada
Mexico
Others
Europe
Germany
UK
Italy
Others
Asia-Pacific
China
India
Japan
Others
LAMEA
South Africa
Brazil
Turkey
Others

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Posted by on Friday October 18 2019, 2:59 AM EST. All trademarks acknowledged. Filed under Business Services, Clean Energy, Energy & Natural Resources, Energy Efficiency, Energy Storage, Featured Press Release, Oil & Gas, Power, Utilities. Comments and Trackbacks closed. Follow responses: RSS 2.0

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