The report "Cryogenic Equipment Market by Product (Tank, Valve, Vaporizer, Pump), Cryogen (Nitrogen, Oxygen, Argon, LNG), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping) and Region - Global Forecast to 2021", The cryogenic equipment market is expected to grow from an estimated USD 16.18 Billion in 2016 to USD 22.42 Billion by 2021, at a CAGR of 6.74% from 2016 to 2021. Factors such as increasing demand for LNG and improving healthcare services, especially in the developing economies are driving the market globally.
The cryogenic equipment market is expected to reach a size of USD 22.42 billion by 2021, at a CAGR of 6.74% from 2016 to 2021. Factors such as increasing demand for LNG and improving healthcare services, especially in the developing economies are driving the market globally. Tanks are the largest segment of the cryogenic equipment market based on product type.
Browse 72 market data Tables and 51 Figures spread through 180 Pages and in-depth TOC on "Cryogenic Equipment Market by Product (Tank, Valve, Vaporizer, Pump), Cryogen (Nitrogen, Oxygen, Argon, LNG), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping) and Region - Global Forecast to 2021" http://www.rnrmarketresearch.com/cryogenic-equipment-market-by-application-energy-power-chemicals-metallurgy-electronics-and-shipbuilding-by-cryogen-gases-nitrogen-oxygen-argon-and-lng-by-product-type-tank-valve-vap-market-report.html
In terms of market, by end-user, the shipping application segment of the cryogenic equipment market is projected to grow at the faster pace during the forecast period, only next to electronics. Since large number of LNG terminals is being constructed around the world and as those fuels are transported generally by ships in large containers, the need for cryogenic equipment in the shipping industry is inevitable. Moreover, further developments are being done to use LNG as marine fuel which will certainly require cryogenic equipment for operation.
Asia-Pacific & Europe dominate the global cryogenic equipment market. In Asia-Pacific, the growth of the cryogenic equipment market can be attributed to factors such as increasing investments in the energy sector and substantial growth in other end-user industries such as food & beverage and electronics among others in this region. Meanwhile in Europe, countries have strict regulation governing the use of inland LNG-fueled ships. Certain countries such as Russia also plan to develop LNG-powered locomotives also. Hence, there is a wide scope for cryogenic equipment in this region.
To analyze the cryogenic equipment market based on product type, cryogen type, end-user, and region
To strategically analyze micro markets with respect to individual growth trends, future prospects, and contribution to the overall market
To analyze major driving factors, restraints, opportunities, burning issues, and winning imperatives in the cryogenic equipment market
To analyze trends and forecasts of the cryogenic equipment market and its sub segments
To analyze the major stakeholders in the cryogenic equipment market and provide a detailed competitive landscape for the leading players of the industry
To analyze the industrial trends in major regions, namely, North America, Asia-Pacific, Europe, South America, Africa, and the Middle East
To analyze competitive developments, such as contracts & agreements, expansions, new product launches and mergers & acquisitions in the global cryogenic equipment market, and profile the major players of the market Stakeholders
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The stakeholders included in this report are as follows:
Cryogenic equipment manufacturers, dealers, and suppliers
Cryogenic gases/liquid merchant producers, suppliers, and dealers
Cryogenic plant developers and service providers
Oil & gas companies
Consulting companies in the E&P sector
Cryogenic and cold storage associations
Power and energy associations
Shareholders and investors
The report identifies and addresses key markets for cryogenic equipment, which is useful for suppliers and OEMs to review production and distribution plans.
The report includes analysis of key countries by application of cryogenic equipment; for instance, its application in Energy & Power and Chemical industries. It analyzes historical trends and also forecast for 2021, assisting in strategic decision making.
It presents competition by analyzing recent market developments such as key contracts, new product launches, expansions, and mergers & acquisitions from the key global market players. It helps understand the competition strategies and plan respective initiatives.
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