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Cryogenic Pumps Market
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Cryogenic Pumps Market

Author: Swarup Sahu - Senior Consultant, Report ID - DS1402009, Published - January 2025

Segmented in Product Type (Submersible, Non-submersible), End-User (Healthcare, Food & Beverage, Energy & Power), Technology, Application and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Cryogenic Pumps Market Outlook

Cryogenic pumps are making an impact across different sectors thanks to their remarkable ability to handle extremely cold fluids effectively and efficiently. The market, for Cryogenic pumps was estimated at $1.4 billion in 2024. It is anticipated to increase to $2.5 billion by 2030 with projections indicating a growth to around $3.9 billion by 2035. This expansion represents a compound annual growth rate (CAGR) of 9.4% over the forecast period. They play a role in addressing the challenges of transporting materials at ultra low temperatures and have become essential assets in industries such, as Oil & Gas, Metallurgy and Pharmaceuticals gaining significant importance in the worldwide market.


Cryogenic pumps are pumping systems created for transferring cryogenic liquids and are known for their ability to withstand extreme cold temperatures efficiently while consuming minimal energy due, to their strong construction qualities and reliability; they are predominantly utilized in liquefied gas applications.


Market Size Forecast & Key Insights

2019
$1.4B2024
2029
$3.5B2034

Absolute Growth Opportunity = $2.1B

The Cryogenic Pumps market is projected to grow from $1.4 billion in 2024 to $3.5 billion in 2034. This represents a CAGR of 9.4%, reflecting rising demand across Liquid gas transportation, Space and aviation and Medical and pharmaceutical industry use.

The Cryogenic Pumps market is set to add $2.1 billion between 2024 and 2034, with manufacturer targeting Food & Beverage & Energy & Power End-User projected to gain a larger market share.

With A shift towards clean energy, and Growth in healthcare and biotechnology sectors, Cryogenic Pumps market to expand 146% between 2024 and 2034.

Opportunities in the Cryogenic Pumps Market

Clean Energy Adoption

The worldwide transition to energy sources indicates a positive growth trajectory, for the cryogenic pump industry.

Expanding Aerospace Applications and Increasing Demand in Healthcare

In the field of aerospace technology,the use of pumps remains an area that has not only been fully investigated yet. With the expansion of space exploration activities,there is an anticipated significant increase in demand for dependable and sturdy cryogenic pump systems for rocket propulsion purposes.These pumps play a vital role in enabling the transfer and containment of liquid gases essential for propulsion systems,thus holding a critical position, in driving advancements in space technology.

The use of pumps in the healthcare sector is projected to increase significantly due to the rising demand for these pumps in medical processes like cryosurgery and cryotherapy as well as cryopreservation procedures. Additionally the COVID. 19 Pandemic has led to an increased need for storing and transporting vaccines at extremely low temperatures, which has further boosted the requirement, for advanced cryogenic pump technology.

Growth Opportunities in North America and Europe

Europe Outlook

Europe plays a role in the global Cryogenic Pumps industry market share with a focus on promoting the use of liquid gases due to strict environmental regulations and active research and development efforts in healthcare sector driving market growth in this region. The main challenge faced here is the complexity involved in handling and storing cryogenic liquids with potential for growth seen in leveraging cryogenic pumps across various applications, within the thriving renewable energy field.

North America Outlook

North America is leading the way in the Cryogenic Pumps market thanks to its technological progress and strong economy driven by sectors such as healthcare and food & beverage industries. Despite facing competition from major global players and dealing with fluctuating raw material costs as hurdles the shift towards digitization and automation offers a hopeful path for future growth, in the region.

North America Outlook

North America is leading the way in the Cryogenic Pumps market thanks to its technological progress and strong economy driven by sectors such as healthcare and food & beverage industries. Despite facing competition from major global players and dealing with fluctuating raw material costs as hurdles the shift towards digitization and automation offers a hopeful path for future growth, in the region.

Europe Outlook

Europe plays a role in the global Cryogenic Pumps industry market share with a focus on promoting the use of liquid gases due to strict environmental regulations and active research and development efforts in healthcare sector driving market growth in this region. The main challenge faced here is the complexity involved in handling and storing cryogenic liquids with potential for growth seen in leveraging cryogenic pumps across various applications, within the thriving renewable energy field.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, Germany, China, Japan, India are expected to grow at 6.9% to 9.9% CAGR

2

Emerging Markets : India, Brazil, South Africa are expected to grow at 9.0% to 11.8% CAGR

Market Analysis Chart

The worldwide Cryogenic Pumps market is influenced by a variety of factors that are influencing the situation and projected direction of the industry. Increased demand for healthcare services and medical products expanding use of Renewable Energy Sources, rapid industrial growth in developing nations and rising interest in electronic devices are, among the key factors driving market growth overall.

Recent Developments and Technological Advancement

December 2024

Cryostar unveiled a groundbreaking pump model designed to enhance energy efficiency and overall operational performance in the cryogenic pumps sector.

October 2024

Ebara Corporation has taken a step forward in broadening their worldwide reach with the establishment of a new manufacturing plant, in Southeast Asia. The facility is intended to boost the output of their notch cryogenic pumps.

July 2024

In the realm of materials innovation maker Nikkiso Cryogenics introduced a cryogenic pump that can withstand ultra low temperatures while maintaining both durability and performance levels.

Lately in the Cryogenic Pumps sector; there has been a trend toward improved efficiency and sustainability with the integration of advanced technology taking center stage in industry developments. Exciting advancements have opened up avenues for expansion and are reshaping market dynamics along, with influencing factors and future directions in this field.

Impact of Industry Transitions on the Cryogenic Pumps Market

As a core segment of the Pumps, Motors & Valves industry, the Cryogenic Pumps market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards Energy-Efficient Solutions and Growth in LNG Applications have redefined priorities across the Pumps, Motors & Valves sector, influencing how the Cryogenic Pumps market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Shift Towards Energy-Efficient Solutions:

The cryogenic pumps market is changing due to increasing energy expenses and strict sustainability rules businesses are now emphasizing creating energy efficient products with minimal carbon footprints this approach is driving advancements in design and technology for cryogenic pumps better efficiency leads to lower energy wastage reduced costs and enhanced environmental impact making these efficient pumps attractive, to various industries

2

Growth in LNG Applications:

The increasing need for liquefied natural gas has had a notable effect on the market for cryogenic pumps used in LNG facilities to facilitate tasks such, as transporting and storing cryogenic liquids.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Pumps, Motors & Valves industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Pumps, Motors & Valves industry cascade into the Cryogenic Pumps market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: A Shift Towards Clean Energy, and Technological Advancements

The global transition towards clean energy is also one of the key drivers propelling the cryogenic pumps market. Demand for cryogenic pumps is also expected to surge as they are also essential in the transportation and storage of liquefied natural gas , a key component of clean energy sources. As more countries adopt climate-friendly energy policies, the need for efficient, reliable cryogenic pumps will also continue to increase.
Advancements, in pump technology are also continuously contributing to the expansion of the market as well.
The healthcare and biotechnology sectors have also experienced expansion in recent times. This expansion has also led to a rising requirement for pumps that play a vital role in storing and safeguarding various biomaterials at extremely low temperatures for research purposes as well as drug manufacturing and other applications. The demand, for effective cryogenic pumps is also growing alongside the ongoing development and enlargement of these industries.

Restraint: High Installation and Maintenance Costs

Cryogenic pumps are equipment commonly utilized in sectors like healthcare and energy as well as the chemical industry; hence they tend to be intricate and filled with technical details. Given their complexity and technical nature these machines require an upfront investment along with significant ongoing expenses for maintenance and operation. These associated costs could pose challenges for organizations, particularly small and medium sized businesses thus serving as a notable barrier, to the expansion of the cryogenic pump market.

Challenge: Regulatory Compliance Challenges

Meeting regulations concerning safety and environmental standards poses a major challenge as well for industries that utilize cryogenic pumps since they must follow rigorous safety measures to prevent any mishandling that could lead to dangerous situations.

Supply Chain Landscape

Raw Material Acquisition

Thyssenkrupp AG

ArcelorMittal

Component Manufacturing

Ametek Inc.

Mikron Group

Cryogenic Pump Assembly
Sumitomo Heavy Industries Ltd. / PHPK Technologies
Market Distribution & End Use Applications
Energy sector / Petroleum industry / Aerospace industry
Raw Material Acquisition

Thyssenkrupp AG

ArcelorMittal

Component Manufacturing

Ametek Inc.

Mikron Group

Cryogenic Pump Assembly

Sumitomo Heavy Industries Ltd.

PHPK Technologies

Market Distribution & End Use Applications

Energy sector

Petroleum industry

Aerospace industry

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Leading Providers and Their Strategies

Application AreaIndustryLeadingProvidersProvider Strategies
Liquid Gas Transportation
Oil and Gas
Cryostar
Prioritizes safety, reliability, and efficiency in production, and often ships globally to meet varying customer needs
Cooling Systems
Healthcare and Pharmaceutical
PHPK Technologies
Specializes in designing cryogenic pumps with high precision for medical and scientific applications
Food Processing
Food & Beverage
INOXCVA
Focuses on designing durable, efficient, and easily-cleanable cryogenic pumps for maintaining temperature in the food storage and processing industry
Space Research
Aerospace and Defense
Nikkiso Cryo
Innovation in compact and reliable cryogenic pump designs, crucial for space applications in rocket propulsion and satellite cooling systems

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Cryogenic Pumps market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Cryogenic Pumps in Space and aviation, Medical and pharmaceutical industry use and Liquid gas transportation

Space and aviation

Cryogenic pumps play a role in the space and aviation field by powering rocket engines and fuel systems with efficiency and durability tailored for the challenging conditions of space exploration and travel.

Medical and pharmaceutical industry use

In the field of medicine and pharmaceuticals industry pumps are used for various purposes like cryosurgery storing biological samples and manufacturing low temperature medications These pumps offer special benefits such, as accurate temperature regulation and strong dependability to guarantee safety in crucial healthcare situations Major companies dominating this sector include Nikkiso Cryo Inc and Ebara Corporation.

Liquid gas transportation

Cryogenic pumps play a role in the transportation of liquid gases because they can function effectively at very low temperatures. These specialized pumps are well equipped to handle tasks such as moving liquid natural gas liquid oxygen liquid nitrogen and various other gases over long distances. Their distinct benefits include efficiency levels and long lasting performance even in extreme temperature environments. Prominent players, in this sector include PHPK Technologies and Sumitomo Heavy Industries.

Cryogenic Pumps vs. Substitutes:
Performance and Positioning Analysis

Cryogenic pumps provide temperature management compared to conventional pumps but come with increased complexity and costs associated with them Their distinct market niche is in sectors that demand precise temperature control such, as space exploration and biotechnology industries

Cryogenic Pumps
  • Positive Displacement Pumps /
  • Centrifugal Pumps /
  • Diaphragm Pumps
    High efficiency and longevity, ability to handle extreme temperatures
    High initial costs, requires specialized maintenance and servicing
    High operational efficiency, Lower maintenance cost
    High initial investment, Risk of operational failure in high temperature environments

Cryogenic Pumps vs. Substitutes:
Performance and Positioning Analysis

Cryogenic Pumps

  • High efficiency and longevity, ability to handle extreme temperatures
  • High initial costs, requires specialized maintenance and servicing

Positive Displacement Pumps / Centrifugal Pumps / Diaphragm Pumps

  • High operational efficiency, Lower maintenance cost
  • High initial investment, Risk of operational failure in high temperature environments

Cryogenic pumps provide temperature management compared to conventional pumps but come with increased complexity and costs associated with them Their distinct market niche is in sectors that demand precise temperature control such, as space exploration and biotechnology industries

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Research Methodology

This market research methodology defines the Cryogenic Pumps market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at macro and micro levels. As part of the Pumps, Motors & Valves ecosystem, we analyze Cryogenic Pumps across Healthcare, Food & Beverage, and Energy & Power Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.



Key Sources Referenced:

Prodcom / Census US / Statcan / e-stat Japan / ABS Australia / KOSIS Korea

Annual Reports / Industry Magazines / Country Level Ministerial Sources / World Mining Data

• Trade Sources (USA Trade Census, EU Comext, China Customs)

Interviews of Industry Stake Holders

Industry Views of Consultants

merics.org

• NAICS - Economic Statistics (US, Canada)

DataString Database

We benchmark competitors such as Nikkiso Cryo Inc., Cryostar SAS, and Sumitomo Heavy Industries Ltd. by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Acquisition, Component Manufacturing, and Cryogenic Pump Assembly. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Pumps, Motors & Valves revenues to estimate the Cryogenic Pumps segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Acquisition (Thyssenkrupp AG, ArcelorMittal), Component Manufacturing (Ametek Inc., Mikron Group), and Cryogenic Pump Assembly. Our parallel substitute analysis examines Positive Displacement Pumps, Centrifugal Pumps, and Diaphragm Pumps, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Nikkiso Cryo Inc., Cryostar SAS, and Sumitomo Heavy Industries Ltd., analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Cryogenic Pumps market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Cryogenic Pumps Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 1.6 billion
Revenue Forecast in 2034USD 3.5 billion
Growth RateCAGR of 9.4% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 20241.4 billion
Growth OpportunityUSD 2.1 billion
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD billion and Industry Statistics
Market Size 20241.4 billion USD
Market Size 20271.9 billion USD
Market Size 20292.3 billion USD
Market Size 20302.5 billion USD
Market Size 20343.5 billion USD
Market Size 20353.9 billion USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredProduct Type, End-User, Technology, Application
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledNikkiso Cryo Inc., Cryostar SAS, Sumitomo Heavy Industries Ltd., Ebara Corporation, Brooks Automation Inc., PHPK Technologies Inc., Fives Group, Atlas Copco AB, Emerson Electric Co., INOX India Ltd., Flowserve Corporation and Technex Limited
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Cryogenic Pumps Market Size, Opportunities & Strategic Insights, by Product Type

4.1Submersible
4.2Non-submersible
Chapter 5

Cryogenic Pumps Market Size, Opportunities & Strategic Insights, by End-User

5.1Healthcare
5.2Food & Beverage
5.3Energy & Power
Chapter 6

Cryogenic Pumps Market Size, Opportunities & Strategic Insights, by Technology

6.1Centrifugal
6.2Positive Displacement
Chapter 7

Cryogenic Pumps Market Size, Opportunities & Strategic Insights, by Application

7.1Liquid Nitrogen
7.2Liquid Oxygen
7.3Liquid Argon
Chapter 8

Cryogenic Pumps Market, by Region

8.1North America Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Cryogenic Pumps Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Nikkiso Cryo Inc.
9.2.2Cryostar SAS
9.2.3Sumitomo Heavy Industries Ltd.
9.2.4Ebara Corporation
9.2.5Brooks Automation Inc.
9.2.6PHPK Technologies Inc.
9.2.7Fives Group
9.2.8Atlas Copco AB
9.2.9Emerson Electric Co.
9.2.10INOX India Ltd.
9.2.11Flowserve Corporation
9.2.12Technex Limited