Global Market Size of Cryogenic Equipment Market – 10 Year Market Forecast

Energy & Power

Cryogenic Equipment Market Size Forecast 2022-2029

Growing at a CAGR of 6%, the market value of the global cryogenic equipment market is estimated to be USD 17.50 billion in 2022 and USD 25.75 billion by 2029. The cumulative market size value of the cryogenic equipment market is USD 172 billion during the forecast period of 2022 to 2029. Europe is the largest market for cryogenic equipment and is expected to account for the majority of the market shares. Tanks are estimated to be the most widely used application representing a relatively larger share of the market. LNG is the major cryogen of cryogenic equipment with the highest growth rate in the segment.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global market database is a cloud based market research and intelligence tool that provides up to date market information about 600+ markets including cryogenic equipment sector.
• What is the expected growth rate of the cryogenic equipment market?

• The expected growth rate of the cryogenic equipment market is 6%.
• What are the two largest application segments of cryogenic equipment markets?

• The two largest application segments of the cryogenic equipment market are tanks and valves.
• Which cryogen segment is expected to lead the market by 2029?

• The cryogen segment, LNG is expected to lead the market by 2029.
• What is the study period of the market?

• The study period of the market is from 2022 to 2029.

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