Asia Pacific Cryogenic Pump Market

The cryogenic pump market in the Asia Pacific is expected to grow from US$ 695.5 Mn in 2018 to US$ 1,202.5 Mn by the year 2027, with a CAGR of 6.4% from the year 2019 to 2027.

Driving factors such as the increasing industrialization, positive economic growth, and increasing demands for liquefied natural gas are boosting the growth of the cryogenic pump market. Further, the increase in the adoption of renewable energy sources is anticipated to facilitate significant growth opportunities for the cryogenic pump market. The emerging smart cities and infrastructural development across developing countries such as India and China have been creating excessive opportunities in the market. The implementation of green industrialization and the use of renewable energy has been promoted by developed countries. In this era of modernization, the effective use of energy has been rising for efficiency and productivity. Smart cites technologies has gained momentum around the globe and set for rapid transformation. It also includes intelligent transport systems, smart waste management, and robust information technology that will improve the quality of living, employment opportunities and urban services. Thereby, cryogenic pump would be gaining potential.

The cryogenic pump market by gas is segmented into nitrogen, oxygen, LNG, argon, and others. Other in the segment include gases such as Hydrogen, CO2, Acetylene, helium, and others. Among these, oxygen held the largest market share in 2018 and is projected to maintain its dominance during the forecast period. The increasing usage of oxygen in varied applications including healthcare, aerospace, automotive & transportation, chemicals, energy, glass, healthcare, metal production, pharmaceutical & biotechnology, pulp & paper, water & wastewater treatment, refineries, welding & metal fabrication, and others has steered its increasing demand in the Asia Pacific market.

China dominated the cryogenic pump market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. China is one of the major countries which has significant market share in the electronics and semiconductor industry. The manufacturers in this country are highly focusing on strengthening their capabilities in the fields of materials, components, and equipment. Here, government support plays a major role in boosting the Chinese electronics and semiconductor industry. Moreover, China is one step ahead of South Korea with respect to fabless manufacturing. China has a giant number of semiconductor firms that are involved in the design of semiconductor products. The semiconductor market in the country is driven by high demand observed among the users for consumer electronics. Thus, the industry is supporting the growth of the cryogenic pump market in the country. The figure given below highlights the revenue share of the rest of Asia Pacific in the cryogenic pump market in the forecast period:

Rest of Asia Pacific Cryogenic pump Market Revenue and Forecast to 2027 (US$ Mn)

Asia Pacific Cryogenic Pump Strategic Insights

Strategic insights for the Asia Pacific Cryogenic Pump provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Cryogenic Pump Report Scope

Asia Pacific Cryogenic Pump Regional Insights

The geographic scope of the Asia Pacific Cryogenic Pump refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

ASIA PACIFIC CRYOGENIC PUMP MARKET SEGMENTATION

By Type

• Centrifugal
• Positive Displacement

By Gas

• Nitrogen
• Oxygen
• LNG
• Argon
• Others

By Industry Vertical

• Electronics
• Healthcare and Pharmaceutical
• Energy & Power
• Metallurgy
• Chemical
• Others

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Cryogenic pump Market - Companies Mentioned

• Atlas Copco AB
• Elliott Group
• Flowserve Corporation
• Fives
• Linde AG
• NIKKISO CO., LTD.
• PHPK Technologies
• Ruhrpumpen Group
• SEHWA TECH, INC.
• Sumitomo Heavy Industries, Ltd.