New Research Says Cryogenic Pump Market Growing
Steadily and Reach to $1.96 Billion
The report "Cryogenic Pump Market by Type (Centrifugal, Positive Displacement), by Gas
(Nitrogen, Oxygen, Argon, LNG, and Others), by End-User (Energy & Power, Chemicals,
Metallurgy, Electronics, and Others), & by Region - Global Trends & Forecasts to 2021", The
cryogenic pump market is estimated to be USD 1.67 Billion in 2016, and is projected to reach
USD 1.96 Billion by 2021, at a CAGR of 3.28% from 2016 to 2021. Increasing LNG production and
demand for medical gases in the healthcare sector are the major drivers of the market. This
market study defines and segments the market through regional forecast and segment revenue
estimates till 2021.
Browse 68 tables and 59 figures spread through 150 pages and in-depth TOC on "Cryogenic
Pump Market - Global Trends & Forecasts to 2021"
Liquefied Natural Gas: Highest growing market by cryogenic gases
The LNG cryogenic gas market is expected to grow at the highest CAGR from 2016 to 2021. This
growth is attributed to increased demand for LNG pertaining to environmental concerns. LNG can
be very useful, particularly for the transportation of natural gas, since LNG takes up about
1/600th the volume of gaseous natural gas. The demand for LNG is the highest in Asia -Pacific,
making the region a high potential market for cryogenic pumps designed for transportation of
LNG.
Positive Displacement: Highest growing market by type
The positive displacement cryogenic pump market is expected to grow at the highest CAGR
during the forecast period. The growth is attributed to increasing use of positive displacement
pumps in Asia-Pacific, Europe, and North America. Moreover, positive displacement pumps have
constant flow at various viscosities and pressures. This feature is likely to contribute to the
growth of the positive displacement cryogenic pumps market.
Scope of the Report:
The report segments the market on the basis of type, cryogenic gases, end -user, and region.
By Type