Market Overview:
The global cryogenic equipment for LNG market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for LNG as a fuel source and the growing number of LNG terminals across the globe. The cryogenic equipment for LNG market is segmented on the basis of type, application, and region. On the basis of type, tanks, valves, vaporizers, pumps and others are included in this market study. Tanks held a dominant share in 2017 and are expected to maintain their dominance duringthe forecast period as well owingto their high efficiencyand low maintenance requirements.
Product Definition:
Cryogenic equipment is used to liquefy natural gas (LNG) for storage and transport. The equipment uses very low temperatures to turn the gas into a liquid, which takes up much less space than the gas does in its natural state. This makes it economical to store and transport LNG over long distances.
Tanks:
Cryogenic equipment is used to store gases at extremely low temperatures. The most common types of cryogenic storage equipment are liquid nitrogen and liquid hydrogen tanks. These tanks are used in a variety of applications ranging from space shuttles to MRI scanners, nuclear magnetic resonance (NMR) scanners, particle accelerators, and others.
The global Cryogenics market size was valued at USD 7 billion in 2015.
Valves:
Cryogenic valves are used in cryogenic equipment for Liquefied Natural Gas (LNG). Cryogenics is a field of study that deals with the lowest possible temperatures and their effects on matter. The LNG market is expected to witness significant growth over the forecast period owing to increasing demand from various end-use industries such as power generation, domestic cooking, heating/cooling and transportation.
Application Insights:
Based on application, the global LNG market has been segmented into energy & power, chemical, metallurgy, shipping and others. The energy & power segment dominated the overall industry in terms of revenue in 2017. Increasing demand for cryogenic equipment from countries such as China and India is expected to drive growth over the forecast period.
The use of cryogenic tanks for storing natural gas liquids (NGL) is gaining significant traction across various industries including oil & gas and petrochemicals among others owing to several benefits offered by these storage tanks including improved safety features along with enhanced durability and performance characteristics when compared with conventional steel or concrete storage tanks at a reduced cost structure. Increasing applications across various industries are anticipated to remain a key driving factor for industry expansion over the coming years.
Regional Analysis:
Asia Pacific dominated the global cryogenic equipment market in 2017. The region is expected to witness a CAGR of XX% over the forecast period, owing to increasing demand for LNG from various end-use industries such as chemicals and petrochemicals in China and India. In addition, growing energy & power sector demand for LNG is also expected to drive regional growth over the coming years.
North America accounted for a significant share of revenue in 2017 owing to high gas production rates coupled with stringent environmental regulations by U.
Growth Factors:
- Increasing demand for LNG as a fuel source for transportation and power generation
- Rising global population and economic growth, which will lead to increased demand for energy
- Stringent environmental regulations that favor the use of natural gas over other fuels
- Technological advancements that make cryogenic equipment more efficient and reliable
- Growing number of LNG export terminals worldwide
Scope Of The Report
Report Attributes
Report Details
Report Title
Cryogenic Equipment for LNG Market Research Report
By Type
Tanks, Valves, Vaporizers, Pumps, Others
By Application
Energy & Power, Chemical, Metallurgy, Electronics, Shipping, Other
By Companies
Air Liquide, Beijing Tianhai Industry Co., Ltd., Chart Industries Inc., Cryofab Inc., Cryoquip LLC., Emerson, Flowserve Corporation, Graham Partners, Parker Hannifin, Herose GmbH, Air Liquide, Linde Group AG
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
139
Number of Tables & Figures
98
Customization Available
Yes, the report can be customized as per your need.
Global Cryogenic Equipment for LNG Market Report Segments:
The global Cryogenic Equipment for LNG market is segmented on the basis of:
Types
Tanks, Valves, Vaporizers, Pumps, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Energy & Power, Chemical, Metallurgy, Electronics, Shipping, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Air Liquide
- Beijing Tianhai Industry Co., Ltd.
- Chart Industries Inc.
- Cryofab Inc.
- Cryoquip LLC.
- Emerson
- Flowserve Corporation
- Graham Partners
- Parker Hannifin
- Herose GmbH
- Air Liquide
- Linde Group AG
Highlights of The Cryogenic Equipment for LNG Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tanks
- Valves
- Vaporizers
- Pumps
- Others
- By Application:
- Energy & Power
- Chemical
- Metallurgy
- Electronics
- Shipping
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cryogenic Equipment for LNG Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cryogenic equipment is used to cool liquids down to very low temperatures (-196 degrees Fahrenheit or -320 degrees Celsius). This allows the liquid to remain in a liquid form, which makes it easier for transportation and storage.
Some of the key players operating in the cryogenic equipment for lng market are Air Liquide, Beijing Tianhai Industry Co., Ltd., Chart Industries Inc., Cryofab Inc., Cryoquip LLC., Emerson, Flowserve Corporation, Graham Partners, Parker Hannifin, Herose GmbH, Air Liquide, Linde Group AG.
The cryogenic equipment for lng market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cryogenic Equipment for LNG Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cryogenic Equipment for LNG Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cryogenic Equipment for LNG Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cryogenic Equipment for LNG Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cryogenic Equipment for LNG Market Size & Forecast, 2020-2028
4.5.1 Cryogenic Equipment for LNG Market Size and Y-o-Y Growth
4.5.2 Cryogenic Equipment for LNG Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Tanks
5.2.2 Valves
5.2.3 Vaporizers
5.2.4 Pumps
5.2.5 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Energy & Power
6.2.2 Chemical
6.2.3 Metallurgy
6.2.4 Electronics
6.2.5 Shipping
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cryogenic Equipment for LNG Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cryogenic Equipment for LNG Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Tanks
9.6.2 Valves
9.6.3 Vaporizers
9.6.4 Pumps
9.6.5 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Energy & Power
9.10.2 Chemical
9.10.3 Metallurgy
9.10.4 Electronics
9.10.5 Shipping
9.10.6 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Tanks
10.6.2 Valves
10.6.3 Vaporizers
10.6.4 Pumps
10.6.5 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Energy & Power
10.10.2 Chemical
10.10.3 Metallurgy
10.10.4 Electronics
10.10.5 Shipping
10.10.6 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Tanks
11.6.2 Valves
11.6.3 Vaporizers
11.6.4 Pumps
11.6.5 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Energy & Power
11.10.2 Chemical
11.10.3 Metallurgy
11.10.4 Electronics
11.10.5 Shipping
11.10.6 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Tanks
12.6.2 Valves
12.6.3 Vaporizers
12.6.4 Pumps
12.6.5 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Energy & Power
12.10.2 Chemical
12.10.3 Metallurgy
12.10.4 Electronics
12.10.5 Shipping
12.10.6 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Tanks
13.6.2 Valves
13.6.3 Vaporizers
13.6.4 Pumps
13.6.5 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Energy & Power
13.10.2 Chemical
13.10.3 Metallurgy
13.10.4 Electronics
13.10.5 Shipping
13.10.6 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cryogenic Equipment for LNG Market: Competitive Dashboard
14.2 Global Cryogenic Equipment for LNG Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Air Liquide
14.3.2 Beijing Tianhai Industry Co., Ltd.
14.3.3 Chart Industries Inc.
14.3.4 Cryofab Inc.
14.3.5 Cryoquip LLC.
14.3.6 Emerson
14.3.7 Flowserve Corporation
14.3.8 Graham Partners
14.3.9 Parker Hannifin
14.3.10 Herose GmbH
14.3.11 Air Liquide
14.3.12 Linde Group AG
