Cryopumps Market By Pump Functionality (Centrifugal Pump, Positive Displacement Pump), By Pump Type (Bath Cryopumps, Refrigerator-Cooled Cryopumps, Supercritical Helium-Cooled Cryopumps) - Growth, Future Prospects And Competitive Analysis, 2016 - 2024

A cryopumps works on the principle of closed-cycle refrigeration where it freezes water vapor, oil, and others gases out of the atmosphere within the user’s vacuum chamber or system. Cryopump freezes water and gases are frozen onto the various arrays located inside the cryopump. There are several applications of cryopumpss such as, transportation and transfer of cryogenic fluids such as hydrogen, oxygen, nitrogen, argon and liquefied hydrocarbons. According to market experts, as the demand for liquid gases will increase across various industries, application of cryopumps will also become inevitable. During the forecast period the global demand for cryopumpss is anticipated to expand at a noticeable CAGR.

The key factors assisting the growth of cryopumps market are the complexities and automation developing in liquid gas handling plants, and increasing demand for LNG from sectors such as power generation and domestic & commercial fuel. Along with, reviving steel industry across the globe, it is also anticipated to drive demand for cryopumpss, as cryogenic gases are indispensably used to create durable steel structures. In line with cryogenic gases, LNG is anticipated to be the fastest growing market segment during the forecast period. Its growth is attributed due to increasing application of LNG for power generation in the energy and power industry and high usage of oil tankers for transportation in the shipbuilding industry.

1.1.1   USP and Key Offerings

The report titled “Cryopumps Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the overall Cryopumps market along with the market size and estimates for the duration 2014 to 2024. The said research study covers in-depth analysis of multiple market segments based on type of pump functionality, pump type, and different geographies.

In order to help strategic decision makers, the report also includes competitive profiling of the leading players in Cryopumps market, attractive investment proposition and, and market positioning of key vendors sections. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the Cryopumps industry
  • Market drivers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Historical 2-Years market size data (2014 – 2015)
  • Market Forecast for the period 2016 – 2024
  • Market investment proposition – Key Investment Segments
  • Company profiles of leading players in the global cryopumps industry (including financial overview, product portfolio, recent developments,

Overall, the research study provides a holistic view of the treatment global Cryopumps market, offering market size and estimates for the period from 2014 to 2024, keeping in mind the above-mentioned factors.

The global cryopumps market is classified into following categories:

  • By Pump Functionality
    • Centrifugal Pump
    • Positive Displacement Pump
  • By Pump Type
    • Bath Cryopumps
    • Refrigerator-cooled cryopumps
    • Supercritical Helium-cooled Cryopumps
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World

Cryopumps also called as cryogenic pumps are designed to move coolants and cryogenic liquids. They are built to withstand and operate in extremely cold temperatures. Cryogenic pumps feature hermetically sealed designs to minimize heat leakage from the motor or contamination by process fluids into the cryogenic fluid. Cryogenic pumps are used to circulate coolant in a variety of applications, including cooling high temperature superconducting cables or magnets, for cooling synchrotron beamline crystals, and as pumps in prototype slush hydrogen applications. In 2015, refrigerated cooled cryopumps held the largest share in the cryopumps market and is expected to hold the leadership position throughout the forecast period as they are easy to apply and allow for an easy and complete automation of the pumping process. Most modern cryopumps today are cooled by closed-loop mechanical refrigerators, using helium as a working fluid. As the refrigeration power for the regenerative cryoprocesses is limited, they are used as small size cryopumps. Earlier, the pumping speed for helium was very low. However, this disadvantage has been overcome, excellent progress has been made in extending the available temperature range at the second stage to lower temperatures by integration of new rare-earth regenerator materials into the cold heads, providing up to 2 W at 4 K. The refrigerator-cooled pumps are easy to apply and allow for an easy and complete automation of the pumping process, as storage or transfer systems for liquid cryogens are no longer needed. Refrigerated-cooled cryopumps held the largest market in 2015 are anticipated to grow at a highest growth rate during the forecast period due to its pumping speed and accessibility.

We have classified global Cryopumps market into following regions:

North America
Europe
Asia Pacific
Latin America
Middle East
In 2015, Asia Pacific accounted for the largest revenue share of 36.7% in the overall cryopumps market followed by Europe and North America. Japan, China, India, South Korea, Taiwan are top 5 importers of LNG in the global market. This the primary reason behind the dominance of Asia Pacific in the global cryopumps market. In addition, increasing investment in renewable energy generation plants is major factor influencing demand for cryopumps. Moreover, continuous steady growth in chemical, oil and gas and cold chain industry in China, India and Southeast Asian countries is also boosting the demand for cryogenic gases and cryopumps.

Majority of growth is expected in China, India and Southeast Asia countries due to increasing industrialization and rising demand for industrial gases in these countries. Asia Pacific has huge potential market for cryopumps and expected to witness fastest growth through the forecast period. Market of Asia Pacific is expected to reach 38.5% by 2024 from its share in 2015.

 

 

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Published Date:  Apr 2017
Category:  Automation & Process Control
Report ID:   58394
Report Format:   PDF
Pages:   120
Rating:    4.2 (40)
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