Boston, MA -- (ReleaseWire) -- 10/18/2012 -- Cryogenic equipments are specially made equipments to handle liquefied gases. Liquefied gases are kept at very low temperature to maintain them in liquid state. The temperature required is below -150degC and known as cryogenic temperature. Due to the very low temperature these liquefied gases cannot be managed using normal equipments and thus require specially made equipments, known as cryogenic equipments. The mostly used cryogenic equipments are tanks, valves, vaporizers, and pumps.
The global market size of cryogenic equipment is estimated to be $11 billion in 2011. Cryogenic tank has the largest market and majority of cryogenic equipment market revenue come from those tanks. After tanks, valves are the second largest revenue contributor in cryogenic market followed by vaporizers and then pumps. This report estimates market revenue for each cryogenic equipment and break each product market by geography as well as industrial applications. For cryogenic tank, the market size estimations have also been provided in capacity i.e. cubic meter.
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This report covers all major regions i.e. Asia-Pacific, Europe, North America and Rest of the World (ROW). At country level, China, U.S. and U.K. have also been covered. Asia-Pacific is identified as the largest market as well as the highest growing in next five years among all regional markets. Globally, China is also the largest country level market and thus its growth significantly affects the global market.
The cryogenic equipment market has also been segmented by liquefied gases type. The gases covered are nitrogen, oxygen, argon, and liquefied natural gas (LNG). Nitrogen has the largest share in cryogenic equipment market while, LNG has the highest growing market. In this report, the global market revenue from each liquefied gas has been broken down for major geographic markets.
This report identifies factors which are driving the market. Growth in major application industry and high economic growth rate in China are figured out to be the important market drivers which have a high impact on market at present. The report also highlights the market restraints and burning issues. Growth in LNG trade has been identified as the major opportunity which is attracting all the cryogenic equipment manufacturers. There are number of reasons which are driving the natural gas/LNG market. Diverted interests from nuclear power, shale gas development in the U.S., and increasing use of natural gas as transportation fuel are the main factors encouraging the investment on LNG.
Developments and strategies of top cryogenic equipment manufacturers have been studied in order to distinguish winning imperatives. The report also profiles those companies and a typical profile includes company overview, cryogenic products offered by the company, financials, recent developments, and strategy based on those developments.
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