This report is designed for companies and decision-makers seeking actionable insights on market size, growth, trends, and competitive strategies to drive expansion and success in the Cryogenic Pump industry._x000D_
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#What is the anticipated market size of the cryogenic pump industry over the next few years?#_x000D_
The cryogenic pump market size has grown strongly in recent years. It will grow from $2.4 billion in 2024 to $2.54 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth in industrial gas applications (e.g lng, lpg, liquid nitrogen), expansion of the healthcare and medical gases market, increased demand for cryogenic equipment in aerospace and defense, rising adoption of lng as a cleaner fuel alternative, growth in food processing and cryogenic cooling applications._x000D_
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The cryogenic pump market size is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to adoption of hydrogen as a green energy carrier, demand for cryogenic pumps in superconducting applications, growth in biotechnology and pharmaceutical cryopreservation, market growth in emerging economies and developing regions, focus on sustainable and environmentally-friendly cryogenic solutions. Major trends in the forecast period include advancements in energy storage and transportation technologies, technological innovations in cryogenic pump design and efficiency, cryogenic pumps for hydrogen applications, adoption of cryogenic pumps in cryopreservation, integration of variable frequency drives (vfds)._x000D_
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#What emerging drivers are expected to shape the future of the cryogenic pump market?#_x000D_
The rise in electricity generation from renewable resources is expected to propel the growth of the cryogenic pump market going forward. Electricity generation from renewable resources refers to clean energy that is collected from renewable resources such as biomass energy, hydropower, geothermal power, wind energy, and solar energy. Cryogenic pumps are used to generate renewable electricity by the depressurization of high-pressure gases using power production equipment, resulting in the generation of electricity. For instance, in 2023, according to the Government Digital Service, a UK-based government body, in Quarter 2 2023, the percentage of power produced by renewable sources was 42.1%, above both the share produced by fossil fuels (38.8%) and the same quarter the previous year (38.7%). Therefore, the rise in electricity generation from renewable resources is driving the growth of the cryogenic pump market._x000D_
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#What emerging segments are shaping the future landscape of the cryogenic pump industry?#_x000D_
The cryogenic pump market covered in this report is segmented –_x000D_
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1) By Type: Positive Displacement Pump, Centrifugal Pump_x000D_
2) By Cryogen Type: Nitrogen, Oxygen, Argon, Liquefied Natural Gas, Other Cryogen Type_x000D_
3) By Orientation: Horizontal, Vertical_x000D_
4) By End-User: Oil And Gas, Metallurgy, Power Generation, Chemical And Petro Chemical, Marine, Other End-Users_x000D_
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Subsegments:_x000D_
1) By Positive Displacement Pump: Reciprocating Pumps, Rotary Pumps, Diaphragm Pumps_x000D_
2) By Centrifugal Pump: Horizontal Centrifugal Pumps, Vertical Centrifugal Pumps, Multistage Centrifugal Pumps_x000D_
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#What are the most notable trends influencing investment in the cryogenic pump sector?#_x000D_
Technological innovation is the key trend gaining popularity in the cryogenic pump market. Major companies operating in the cryogenic pump market are focused on developing new technological solutions to strengthen their position. For instance, in January 2023, Nikkiso Cryo Pump Series, a dubai UK-based company and provider of cryogenic pumps, launched a new introduction to Nikkiso’s line of cryogenic pumps, these new models are specifically designed for increased efficiency and enhanced performance in hydrogen and LNG applications, featuring improved sealing technology and reduced energy consumption. This launch signifies Nikkiso’s commitment to advancing technology in the cryogenic pump market, catering to the growing demands in clean energy and industrial sectors._x000D_
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#How are key players in the cryogenic pump market strengthening their market position?#_x000D_
Major companies operating in the cryogenic pump market include Ebara Corporation, Fives Group SAS, Nikkiso Co Ltd., Sumitomo (SHI) Cryogenics of America Inc., Trillium Flow Technologies, Barber-Nichols, CryoVation LLC., ChampionX Production Systems Technologies LP, KRYTEM Cryogenic Systems, Sehwa Tech Inc., Vanzetti Engineering S.p.A., Xinxiang Chengde Energy Technology Equipment Co.Ltd., Brooks Automation Inc., Cryostar SAS, Flowserve Corporation, Linde AG, Chart Industries Inc., Cryoquip LLC, Atlas Copco AB, INOXCVA, Hydro-Pac Inc., Pentair plc, Advanced Thermal Products Inc., Acme Cryogenics, Surrey Pumps Ltd., HSME Corp., CIRCOR International Inc., Dk-Tech Corporation, Hangzhou Chuankong General Equipment Co. Ltd., Taylor-Wharton International LLC, ACD LLC_x000D_
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#Which geographic areas are contributing significantly to the growth of the cryogenic pump sector?#_x000D_
Asia-Pacific was the largest region in the cryogenic pump market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryogenic pump market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa._x000D_
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#How Can Companies Use The Cryogenic Pump Market Report to Drive Business Results?#_x000D_
This report provides actionable insights tailored for business use—not academic analysis. Companies can leverage the data to:_x000D_
• Time market entry or expansion using growth forecasts and CAGR trends._x000D_
• Develop competitive products by tracking key technology shifts and user preferences._x000D_
• Tailor regional strategies with in-depth geographic data and local market dynamics._x000D_
• Benchmark and plan partnerships using competitive landscape insights._x000D_
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