DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Cryogenic Pump Market - Global Trends & Forecasts to 2021" report to their offering.
The cryogenic pump market is expected to reach USD 1.96 Billion by 2021, at a CAGR of 3.28% from 2016 to 2021.
The growth of this market is attributed to increasing demand for LNG from sectors such as power generation and domestic & commercial fuel and demand for medical gases in healthcare facilities. Moreover, the global cryogenic pump market is projected to witness high growth on account of rising power generation from renewables, which would result in reduction of carbon emissions.
Asia-Pacific region held the majority of market share in 2014, followed by Europe and North America. In terms of individual countries, Qatar and India are expected to show high growth potential in 2016. This growth can be attributed to increasing investments in the infrastructure sector in Qatar and growing focus towards renewable-based electricity generation in India. Asia-Pacific houses major LNG importers such as China, India, and Japan along with some of the key importers of natural gas. Hence, the region is expected to dominate the global demand for cryogenic pumps during the forecast period.
Steel production is decreasing due to over-capacity, economic slowdown in China, and declining oil & gas prices. This has led to dwindling investments in the steel industry, which is expected to restrict investments in new steel plants. In the steel industry, cryogenic gases are used to create homogenous and durable steel structures. The decrease in global production of steel could impact the demand for cryogenic pumps, which are used for transporting cryogenic gases.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Cryogenic Pump Market By Type
8 Global Cryogenic Pump Market By Cryogenic Gases
9 Global Cryogenic Pump Market By End-User
10 Global Cryogenic Pump, By Region
11 Competitive Landscape
12 Company Profiles
- ACD LLC
- Brooks Automation Inc.
- Cryoquip Australia
- Cryostar SAS
- Ebara Corporation
- Fives S.A.
- Flowserve Corporation
- Global Technologies
- Nikkiso Cryo Inc.
- PHPK Technologies Inc.
- Ruhrpumpen Inc.
- Sehwa Tech Inc.
- Sumitomo Heavy Industries Ltd.
For more information visit http://www.researchandmarkets.com/research/7586tg/cryogenic_pump