From GlobeNewswire: 2025-05-26 07:21:00

The global Cryogenic Pump Market is growing due to the rising demand for liquefied natural gas across industries like healthcare, energy, electronics, and aerospace. Market projections estimate a value of US$ 3.54 billion by 2031, with a CAGR of 5.6% from 2025-2031. Asia-Pacific leads the market, followed by North America and Europe.

Cryogenic pumps are crucial for handling liquefied gases at extremely low temperatures, with applications in healthcare, biopharmaceuticals, and industrial sectors. Furthermore, emerging economies in Asia-Pacific, the Middle East, and South America are driving market growth, particularly in industries like chemicals, metallurgy, food processing, electronics, and aerospace.

In 2024, Asia Pacific held the largest revenue share in the Cryogenic Pump Market, with North America and Europe following. The Asia-Pacific region is expected to display the highest CAGR during the forecast period. The market is segmented by type, design, cryogen, industry vertical, and region, offering a comprehensive view of the industry landscape.

Key players in the Cryogenic Pump Market include SHI Cryogenics Group, Fives SAS, Cryostar SAS, and Ebara Elliott Energy. Recent developments include Fives negotiating a sale of its cryogenics business unit to Alfa Laval and Nikkiso Co. Ltd. receiving an order for a hydrogen-pump unit. Continuous innovation in cryogenic pump technologies is enhancing efficiency and reliability, driving market growth.



Read more at GlobeNewswire: Cryogenic Pumps Market Size to Reach $3.54 billion by 2031,