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Global Cryogenic Equipment Market 2019-2023 | Evolving Opportunities with Chart Industries and Cryofab | Technavio

November 19, 2019 GMT
Global Cryogenic Equipment Market 2019-2023 | Evolving Opportunities with Chart Industries and Cryofab | Technavio
Global Cryogenic Equipment Market 2019-2023 | Evolving Opportunities with Chart Industries and Cryofab | Technavio

LONDON--(BUSINESS WIRE)--Nov 19, 2019--

Technavio has been monitoring the global cryogenic equipment market since 2016 and the market is poised to grow by USD 6.16 billion during 2019-2023 at a CAGR of over 6% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global cryogenic equipment market 2019-2023. (Graphic: Business Wire)

Read the 119-page research report with TOC on “Cryogenic Equipment Market Analysis Report by End-Users (Power and energy; Petrochemical and chemicals; Metallurgy; Electronics; and Others), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 - 2023”.

The market is driven by the increasing demand for cryogenic equipment from the healthcare industry. In addition, the emergence of cryogenic mobile tanks is anticipated to further boost the growth of the cryogenic equipment market.

Technological advances and innovations in areas such as immunotherapy, vaccinations, biopharmaceuticals, and regenerative medicines are gaining prominence in the life sciences sector in the healthcare industry. This is driving the demand for cryogenic equipment in these fields as they are used for treating, storing, and preserving applications at specific temperatures. The cryogenic equipment is also used in the activation and storage of receptor cells without affecting their quality. Thus, the increasing demand for cryogenic equipment from the healthcare industry is expected to drive market growth during the forecast period.

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Major Five Cryogenic Equipment Market Companies:

Chart Industries

Chart Industries is headquartered in the US and operates the business under various segments such as Energy & Chemicals, D&S East, and D&S West. The company manufacturers Stainless steel cryogenic freezers, Cryogenic bulk storage tanks & solutions, Vacuum insulated pipes (VIP), and Vaporizers.

Cryofab

Cryofab is headquartered in the US and offers products through the following segments: Standard products, Transfer lines, Custom cryogenic equipment, High run production, Short run production, and Repair. The company manufacturers Cryogenic containers, Cryogenic transfer lines, Vacuum jacketed valves, and Pipe & tube size bayonets.

Taylor-Wharton

Taylor-Wharton is headquartered in the US and operates under various product segments, namely Bulk Storage Vessels, MicroBulk, Liquid Cylinders, Beverage Carbonation, Transport Vessel, LNG Vessel, Vaporizer, Vacuum Insulated Piping, and Freezer Applications. The company manufacturers Bulk Storage Vessels, Liquid Cylinders, and Transport Vessels.

The Linde Group

The Linde Group is headquartered in the UK and offers products through the following business segments: Gases division and Engineering division. The company offers tanks for gases such as liquid carbon dioxide, liquid argon, liquid oxygen, liquid hydrogen, and liquid nitrogen.

Wessington Cryogenics

Wessington Cryogenics is headquartered in the UK and offers products through the following business segments: Cryogenic vessels, ISO containers, Chassis mounted tanks, Road tankers, Misc pressure vessels, Liquefied natural gas, Safety equipment, and Spares / accessories. The company manufacturers Cryogenic vessels and Road tankers.

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Cryogenic Equipment End-Users Outlook (Revenue, USD Million, 2019 - 2023)

  • Power and energy
  • Petrochemical and chemicals
  • Metallurgy
  • Electronics
  • Others

Cryogenic Equipment Regional Outlook (Revenue, USD Million, 2019 - 2023)

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191119005821/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 11/19/2019 12:00 PM/DISC: 11/19/2019 12:01 PM

http://www.businesswire.com/news/home/20191119005821/en