(MENAFN- America News Hour) The global cryogenic pumps market is segmented by type into positive displacement pumps, kinetic pumps and entrapment pumps; by cryogenic gas into nitrogen, hydrogen, oxygen, helium, argon and others; by end-user industry into healthcare industry, power generation industry, electrical & electronics industry, metallurgy industry and othersand by regions. Cryogenic Pumps Market is anticipated to mask a CAGR of 3.79% during the forecast period i.e. 2018-2027.
Cryogenic Pumps are applied to condense vapors and gases on cold surfaces in order to trap them. The freezing of the gases are largely dependent on their own boiling and freezing points relative to the temperature of the cryogenic pump . Cryogenic pumps can be used for cryotrapping wherein the residence time of molecules are increased on a cold surface without actual supercooling. Due to this feature cryogenic pumps are also known as water pump, cryotrap or cold trap. The cooling of cryopumps are done either by built-in cryocoolers or with the help of compressed gases such as helium, hydrogen or use dry ice and liquid nitrogen.
North America is panned to observe substantial cryogenic pumps market growth due to rising cryogenic pumps usage in power generation. North America is anticipated to be followed by Asia-pacific in terms of consumption due to expanding cryogenic pumps requirements in healthcare and food industries. Europe is expected to drive demand and positively impact Cryogenic Pumps Market growth over the forecast period owing to increasing cryogenic pumps application in combined refrigerator/liquid cryogen pump, ITER cryopumps for thermonuclear fusion process and others over the forecast period.
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Growing Applications in Various types of Pumps
Currently the global cryogenic pumps market is observing vibrant growth on account of increasing demand of cryopreservation in the market. Advance in healthcare industry in the past few years and growing medical explorations is projected to drive cryogenic pumps market besides the wide range of functions of cryopumping in an immense range of cryogenic pumps such as bath cryopumps, refrigerator-cooled cryopumps, and supercritical helium-cooled cryopumps during the forecast period.
Increasing End-User Industries Application
The rising demand for cryogenic pumps for various processes in pharmaceutical, food, metallurgy and healthcare industries are expected to drive the market rapid over the forecast period. Application of cryogenic pumps lies in the cooling of magnets in superconductors, nitrogen for cooling crystals in synchrotron beamlines, sub-cooled nitrogen in cables for high temperature superconductors, argon for use in detectors on superconductors, and hydrogen in rocket propellant densification systems in electrical and electronic industries.
However, the cost constraints as well as lack of expertise in handling these devices across the developing regions is anticipated to serve as a major restraining factor in the growth of cryogenic pumps market.
The report titled “Global Cryogenic Pumps Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Cryogenic Pumps market in terms of market segmentation by type, by cryogenic gas, by end-user industryand by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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This report also provides the existing competitive scenario of some of the key players of the global Cryogenic Pumps market which includes company profiling ofSumitomo Heavy Industries Ltd., Fives S.A., Brooks Automation Inc., Ebara Corporation, Linde Group, Nikkiso Co. Ltd., PHPK Technologies Inc., Flowserve Corporation, Global Tech India Pvt. Ltd. andTechnex Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Cryogenic Pumpsmarket that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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