From GlobeNewswire: 2025-06-13 09:30:00

The cryogenic pump market is on the rise, with a value of USD 2.29 billion in 2024 expected to reach USD 3.60 billion by 2032. This growth is driven by the demand for LNG transfer, green hydrogen pipelines, and low-temperature refrigeration in pharmaceuticals and aerospace. Pump manufacturers are innovating to meet industry standards and enhance efficiency.

In the U.S., the cryogenic pump market was valued at USD 0.46 billion in 2024 and is projected to reach USD 0.81 billion by 2032. Key drivers include small-scale LNG plant deployments, hydrogen infrastructure expansion, biotech storage needs, and aerospace cold-chain acceleration. This growth signifies a shift towards cleaner energy sources and advanced cryogenic technologies.

Centrifugal pumps dominate the cryogenic pump market, capturing 61.28% of total revenue in 2024. Their efficiency in handling cryogenic liquids like LNG and liquid oxygen makes them popular in energy, manufacturing, and chemical industries. The LNG segment leads cryogen types, reflecting the global transition to natural gas as a clean fuel.

Oil & Gas is the leading end-use segment in the cryogenic pump market, accounting for 18% of total revenue in 2024. Cryogenic pumps play a crucial role in the transport and handling of liquefied gases throughout the oil and gas value chain. As global natural gas demand rises, the reliance on cryogenic equipment for safe and efficient transport increases.

Asia-Pacific dominates the cryogenic pump market, with around 35.26% of total market share in 2024. The region’s leadership is supported by large-scale LNG import terminals and the adoption of cryogenic pumps for hydrogen liquefaction and transport. North America is expected to see significant growth, driven by LNG and hydrogen investments, aerospace advancements, and cryopreservation facilities.



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