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Cryogenic Pumps Market

Cryogenic Pumps Market

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 growth to around $3.9 billion by 2035.

Report ID:DS1402009
Author:Swarup Sahu - Senior Consultant
Published Date:January 2025
Datatree
Industrial Tools & Machinery
Pumps, Motors & Valves
Cryogenic Pumps
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Report Summary
Table of Contents
Methodology
Market Data

Global Cryogenic Pumps Market Outlook

Revenue, 2024

$1.4B

Forecast, 2034

$3.5B

CAGR, 2024 - 2034

9.4%
The Cryogenic Pumps industry revenue is expected to be around $1.6 billion in 2025 and expected to showcase growth with 9.4% CAGR between 2025 and 2034. 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.

Cryogenic Pumps market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2024-2034

Market Key Insights

  • 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.
  • Nikkiso Cryo Inc., Cryostar SAS, Sumitomo Heavy Industries Ltd. are among the leading players in this market, shaping its competitive landscape.
  • U.S. and Germany are the top markets within the Cryogenic Pumps market and are expected to observe the growth CAGR of 6.9% to 9.9% between 2024 and 2030.
  • Emerging markets including India, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 9.0% to 11.8%.
  • Transition like Shift Towards Energy-Efficient Solutions is expected to add $300.0 million to the Cryogenic Pumps market growth by 2030
  • 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.
cryogenic pumps market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032

Opportunities in the Cryogenic Pumps

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

Growth Opportunities in North America and Europe

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.

Market Dynamics and Supply Chain

01

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.
02

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.
03

Opportunity: 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.
04

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

1
Raw Material Acquisition

Thyssenkrupp AG

ArcelorMittal

2
Component Manufacturing

Ametek Inc.

Mikron Group

3
Cryogenic Pump Assembly

Sumitomo Heavy Industries Ltd.

PHPK Technologies

4
Market Distribution & End Use Applications

Energy sector

Petroleum industry

Aerospace industry

*The illustration highlights the key stakeholders within the supply chain ecosystem.

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

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.

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.

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.

Recent Developments

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.
01

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 This industry transition is expected to add $300 million in the industry revenue between 2024 and 2030.
02

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.

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