According to The Insight Partners' research, the North America Cryogenic Pumps Market was valued at US$ 573.5 Million in 2024 and is expected to reach US$ 843.4 Million by 2031, registering a CAGR of 5.7% from 2025 to 2031.
Increasing investments in healthcare sector and growing industrial investments are among the critical factors attributed to drive the North America cryogenic pumps market growth.
The growing geriatric population and rising prevalence of chronic diseases are driving the demand for healthcare facilities across the world. As a result, government investments and strategic activities by private players are rising. For instance, in March 2025, the Texas government announced US$ 50 million in funds for hospitals and other healthcare facilities. In April 2025, Power Construction Corporation of China announced the handover of multiple hospitals in Laos and Peru. Also, in September 2024, Empire State Development announced the start of a 36,000 square-foot comprehensive healthcare center in New York. As cryogenic pumps play an important role in the medical and healthcare sector, they are widely used for MRI machine cooling, cryogenic storage, and the transfer of oxygen and nitrogen gas.
In MRI machines, a cryogenic system is used for cooling superconducting magnets by transferring liquid helium. Further, in cryogenic storage, cryogenic pumps are used for the preservation of biological samples and tissues at low temperature in research and educational institutes. In addition, many healthcare companies are focusing on various R&D and facility expansion activities for developing innovative medical techniques to expand their business. In March 2025, Cryoport announced the launch of its MVE Biological Solutions. This cryogenic storage is built especially for fertility centers, biorepositories, and clinical laboratories. Thus, the expansion in healthcare and medical facilities, along with growing research and development activities, is expected to fuel the demand for cryogenic pumps in the coming years.
On the contrary, fluctuating raw material prices hamper the growth of the North America cryogenic pumps market.
North America Cryogenic Pumps Market Segmentation Analysis:
- By Type, the North America Cryogenic Pumps Market is segmented into Centrifugal and Positive Displacement. The Centrifugal segment is projected to expand at 5.4% CAGR during 2025 - 2031.
- By Design Type, the North America Cryogenic Pumps Market is segmented into Submersible and Non-Submersible. The Submersible segment is projected to expand at 5.9% CAGR during 2025 - 2031.
- By Cryogen, the North America Cryogenic Pumps Market is segmented into Nitrogen, Argon, Oxygen, LNG, Hydrogen, Helium, and Others. The LNG segment is projected to expand at 6.2% CAGR during 2025 - 2031.
- By Industry Vertical, the North America Cryogenic Pumps Market is segmented into Electronics and Semiconductor, Healthcare and Pharmaceutical, Energy and Power, Metallurgy, Aerospace, Chemical, and Others. The Energy and Power segment is projected to expand at 6.3% CAGR during 2025 - 2031.
By country, the North America Cryogenic Pumps Market is categorized into the United States, Canada, and Mexico. The United States is projected to expand at a 5.9% CAGR during 2025 - 2031.
Key players operating in the Cryogenic Pumps Market are Sulzer Ltd, Nikkiso Co Ltd, Fives SAS, Cryostar SAS, Ebara Elliott Energy, Trillium US Inc., SHI Cryogenics Group, CRYOGENIC MACHINERY CORP, Ruhrpumpen, Inc., Vanzetti Engineering S.p.A., PHPK Technologies, Technex Limited, Barber-Nichols, Inc., HSR AG, and GemmeCotti Srl, among others.
- In February 2024, the educational program Viewpoint with Dennis Quaid announced a collaboration with SHI Cryogenics Group to produce an episode exploring cryogenic technologies.
- In March 2022, Ebara Corporation (hereinafter referred to as "Ebara") established Ebara Pumps Canada Corporation (hereinafter referred to as "EPCC"), which will assemble, sell, and provide service and support for pumps in Canada, and began operations on March 1st.
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