Publication Month: Oct 2019 |
Report Code: TIPRE00006217
| No. of Pages:
| Category: Electronics and Semiconductor
| Status: Published
No. of Pages 180
Geographically, the cryogenic pump market is segmented into North America, APAC, Europe, MEA, and SAM. APAC led the cryogenic pump market in 2018 with a significant market share, and is anticipated to continue its dominance in the coming years to during the forecast period. North America is the second-largest market in the cryogenic pump market. Apart from APAC and North America, Europe remains the third-largest geographic segment in the cryogenic pump market.
Globally, an escalation in the demand for liquefied natural gas; inflated demands for consumer electronics and application of cryopumps in semiconductor manufacturing; and positive global economic outlook and rising industrialization are some of the factors that are expected to drive the cryogenic pump market worldwide. However, high installation and maintenance costs related to high pressure cryogenic pumps may restrain the future growth of market. Despite these limitations, increase in preference for renewable energy sources are some of the factors that are anticipated to offer ample growth opportunities for the players operating in the cryogenic.
The demand for consumer electronics is growing at an exponential pace, and the pressure from the consumer side has been compelling suppliers to provide differentiated products in the market. Further, the increasing applications of wearable devices in the healthcare and the manufacturing sectors have created huge demands for consumer electronics. Wearable devices such as smart watches, AR/VR devices, fitness belts, and process monitoring equipment have gained high prominence in the recent times. These devices incorporate high-end functionalities in least possible package sizes. This factor is subsequently anticipated to encourage the growth of cryogenic pumps in the electronics and semiconductor industry during the forecast period.
The emerging smart cities and infrastructural development across the developing countries such as India and China have been creating the excessive opportunities in the market. Implementation of green industrialization and use of renewable energy has been promoted by developed countries. In this era of modernization, effective use of energy has been rising for efficiency and productivity. The rising smart cities and infrastructural development across developing countries such as India and China have been creating the excessive opportunities for the cryopump providers. This is expected to provide huge opportunities to the companies providing this systems and thus, positively impacting the cryogenic pump market.
The cryogenic pump market by type is further segmented into centrifugal and positive displacement. The centrifugal segment of the cryogenic pump market dominated the type segment and is anticipated to continue its dominance throughout the forecast period from 2019 – 2027. The high volume operational capabilities and the capacity to work continuously drive the installations of centrifugal cryogenic pumps.
The cryogenic pump market by gas is further segmented into nitrogen, oxygen, LNG, argon, and others. Oxygen segment of the cryogenic pump market dominated the gas segment and is expected to dominante the market throughout the forecast period from 2019 – 2027. The increasing usage of oxygen in healthcare sector for bulk storage and transportation is supplementing the market demand at a significant extent.
The cryogenic pump market by industry vertical is further segmented into electronics, healthcare and pharmaceutical, energy and power, metallurgy, and chemical. The energy and power segment of the cryogenic pump market dominated the industry vertical segment and is expected to dominante the market throughout the forecast period from 2019 – 2027. The power stations are built in different ways based on the primary energy used. Durability, reliability, and process integration are major requirements of this sector. Thus, the companies operating in the market are constantly focusing to serve these requirements efficiently.
|Market Size Value in||US$ 1.86 Billion in 2018|
|Market Size Value by||US$ 2.82 Billion by 2027|
|Growth rate||CAGR of 4.9% from 2019-2027|
|No. of Pages||180|
|No. of Tables||84|
|No. of Charts & Figures||83|
|Historical data available||Yes|
|Segments covered||Type ; Gases ; Industry Vertical and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
Market Initiatives were observed to be most adopted strategy in the global cryogenic pump market. Few of the recent market initiatives are listed below:
2019:Cryogenic Industries Inc. and Nikkiso Cryo Inc., subsidiaries of Nikkiso Group, announced their functional consolidation as “Nikkiso Cryogenic Industries Group.” The consolidated business would be engaged in the innovation and manufacturing of cryopump solutions and equipment.
2018:The Nikkiso Cryogenic Industries Group announced the opening of new headquarters in California. The site would manage the operations of 16 cryogenic pumps equipment and solutions manufacturing and testing facilities.
2018:EBARA conducted pump seminar in Myanmar at Myanmar Engineering Society (MES). This is the 11th time in the tenure of 24 years. Local governments, Government agencies, and private-sector companies participated in this event.
2017:SHI acquired Ferran Technologies Inc. SHI designs and manufactures products that create the high vacuum environment needed to manufacture today’s advanced micro-electronics, flat panel TVs, cellular phone screens and other vacuum coated products. Ferran Technology instrumentation allows for expansion into products that measure and control the vacuum within the same environments and same markets.
The List Companies - Cryogenic Pump Market