The study on the global market for Cryogenic Equipment Market evaluated the historical and current performance of this market, especially highlighting the key trends and growth opportunities. According to the study, the rising demand for this product is driving the global market for Global Cryogenic Equipment Market significantly. The expansion in the various related industry is also expected to reflect positively on the sales of Global Cryogenic Equipment Market product over the next few years.

Cryogenic Equipment Market is anticipated to surpass USD 25 billion by 2024. Rising adoption of natural gas on account of introduction of regulations pertaining to reduction in carbon footprint coupled with rising investments toward the development of existing manufacturing facilities will drive the cryogenic equipment market growth. In addition, increased number of integrated gasification combined cycle and coal & gas to liquid projects will fuel the industry growth.

Browse key industry insights spread across 365 pages with 536 market data tables & 38 figures & charts from the report, “Cryogenic Equipment Market Size By Product (Tanks, Valves, Vaporizers, Pumps, Pipe), By Cryogen (Nitrogen, Oxygen, Natural Gas, Argon), By Application (Storage, Distribution), By End-user (O&G Industry, Power, Food & Beverage, Chemical, Rubber & Plastics, Metallurgy, Healthcare, Shipping, Agriculture, Forestry & Fishing), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, Italy, France, Spain, Poland, Russia, Norway, Netherlands, China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Philippines, Australia, Iran, Iraq, Turkey, Kuwait, Oman, Saudi Arabia, UAE, Qatar, Egypt, Algeria, Angola, Nigeria, South Africa, Brazil, Argentina, Trinidad & Tobago, Peru), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/cryogenic-equipment-market

Robust investments in E&P ventures along with increasing consumption of natural gas across the industrial sector will complement the U.S. cryogenic equipment market growth. Furthermore, expansion of natural gas liquefication capacity will stimulate the industry growth in the country. According to the EIA, in 2017, U.S. natural gas consumption was estimated to be 7.9 million cubic feet across the industrial sector.

Nitrogen based cryogenic equipment market will witness growth on account of its extensive applications in oil & gas operations including EOR, injection & pressure testing, well stimulation, reservoir pressure maintenance, inert gas lift and nitrogen floods. Moreover, major use of gas in the start-up preparations and during plant maintenance shutdown of petrochemical & refinery industry will stimulate the product adoption.

Healthcare cryogenic equipment market will expand on account of ongoing investment toward modernization and refurbishment of existing healthcare infrastructure. The industry is growing at a high pace on account of technological advancements in the medical equipment sector for the treatment of chronic diseases. In the U.S., spending toward health grew by 17% from 2013 to 2016, an increase of around USD 3 trillion.

Natural gas based cryogenic equipment market will witness growth on account of rising energy demand coupled with the product's ability to produce various industrial gases including methane, hydrogen and helium. As per the IEA, natural gas demand could witness a steep growth of more than half by 2040 owing to its rising demand as fuel & feedstock from various industries. Moreover, shifting focus toward natural gas-based electricity generation owing to rising concerns toward GHG emissions will stimulate the cryogenic equipment market growth.

Eminent industry players across the cryogenic equipment market includes INOXCVA, Wessington Cryogenics, Emerson Electric, Air Liquide, Linde Group, Cryostar, Air Products and Chemicals, Ebara, Graham Partners, Praxair Technology, Nikisso Cryo and Technifab Products.

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