세계 극저온 장비 시장 규모는 2024년 227억 3,000만 달러에 달했습니다. 향후 IMARC Group은 2033년에는 344억 달러에 달할 것으로 예상되며, 2025-2033년 동안 4.23%의 CAGR을 기록할 것으로 예측하고 있습니다. 현재 아시아태평양이 시장을 독점하고 있으며, 2024년에는 37.8% 이상의 큰 시장 점유율을 차지했습니다. 첨단 기술의 보급, 헬스케어 산업에서 다양한 용도의 제품 수요 증가, 다양한 식품 가공 응용 분야에서의 제품 도입 확대, 재생에너지원의 도입 확대 등이 시장을 주도하는 요인 중 일부입니다.
극저온 장비 시장의 성장은 주로 청정에너지원인 액화천연가스(LNG)에 대한 수요 증가와 야금, 식품 가공, 전자 등의 분야에서 산업용 가스에 대한 수요 증가에 기인합니다. IEA가 발표한 보고서에 따르면, 전 세계 가스 수요는 2024년 4,200bcm에 달해 전년 대비 2.5% 이상 증가할 것으로 전망하고 있습니다. 그러나 2024년 1분기부터 3분기까지 LNG 공급량은 지정학적 갈등과 프로젝트 지연이 성장에 영향을 미쳐 2% 증가에 그쳤습니다. 냉동요법 및 냉동 보존을 포함한 헬스케어 분야의 확대는 극저온 시스템에 대한 수요를 크게 증가시킬 것입니다. 재생에너지와 수소 기반 기술로의 세계 전환은 이러한 부문이 저장 및 운송을 위한 첨단 극저온 솔루션을 필요로 하기 때문에 시장 성장을 더욱 촉진할 것입니다. 지속적인 기술 혁신, 우주 탐사에 대한 투자 증가, 청정에너지 채택을 촉진하는 엄격한 환경 규제는 시장을 발전시키는 주요 요인입니다.
미국의 극저온 장비 시장은 미국의 견조한 천연가스 생산에 힘입어 청정에너지원인 액화천연가스(LNG)에 대한 수요 증가에 힘입어 성장세를 보이고 있습니다. 예를 들어, 2025년 1월, 텍사스주 프리포트 LNG는 가동 개시 이후 800번째 액화천연가스 화물을 선적하는 획기적인 사건을 발표했습니다. 주목할 만한 고객인 JERA는 확장되는 LNG 시설에 대한 투자 및 인프라 지원 강화를 발표했습니다. 저온 치료, 냉동 보존, 의료용 가스 저장 등 헬스케어 분야의 성장이 중요한 역할을 하고 있습니다. 탈탄소화 추진에 따른 수소 기반 에너지 시스템의 확대는 수요를 더욱 가속화하고 있습니다. 항공우주 및 방위 부문은 추진력과 재료 검사에 극저온 기술을 활용하고 있습니다. 식품 보존, 금속 가공, 전자제품 제조에서 산업용 가스 사용의 증가는 효율성과 안전성을 위한 극저온 기술의 발전과 함께 시장 성장에 기여하고 있습니다.
급속한 산업화
세계의 급속한 산업화는 시장에 수많은 기회를 제공하고 있습니다. 산업이 확대되고 다양화됨에 따라 극저온 장비에 대한 수요도 함께 증가하고 있습니다. 화학 부문에서는 극저온 장비가 가스 액화에 사용되며, 2023년 세계 LNG 생산량은 4억 1,000만 톤(산업 보고서 기준)에 달해 수요를 견인할 것으로 예상됩니다. 이러한 산업에서는 다양한 응용 분야에서 극저온 솔루션이 필요한 경우가 많습니다. 예를 들어, 화학 및 석유화학 부문에서 이 장비는 가스 분리 및 액화에 필수적이며, 산업용 가스, 화학제품 및 LNG 생산에 도움을 주며, 이는 극저온 장비 시장의 수요를 촉진하고 있습니다. 또한, 확대되는 제약 산업에서는 세포배양, 백신 등 생물학적 물질의 동결보존에 활용하여 안정성과 유효성을 확보하고 있습니다. 또한, 식품 가공 산업은 제품의 품질을 유지하고 보존 기간을 연장하며 엄격한 안전 기준을 충족시키기 위해 극저온 냉동 및 냉각 시스템을 활용하고 있습니다. 신흥국에서는 급속한 산업화가 진행되고 있으며, 이들 신흥 시장에서는 극저온 장비에 대한 수요가 증가하고 있어 시장 성장을 더욱 촉진하고 있습니다.
연구개발에 대한 제품 수요 증가
연구개발(R&D) 활동의 제품 수요 증가는 극저온 장비 시장의 주요 트렌드 중 하나입니다. 예를 들어, 양자 컴퓨터의 발전을 위해서는 초전도체를 1켈빈 이하의 온도로 냉각해야 하며, 극저온 시스템은 극한의 온도에서 화학반응을 연구할 수 있어 재료과학과 의약품에 영향을 미칩니다. 극저온 장비는 물리학, 화학, 생물학 등 실험과 분석에 초저온이 요구되는 다양한 과학 분야에 필수적인 장비입니다. 물리학에서는 초전도 물질을 냉각시켜 양자 컴퓨터와 에너지 전송의 비약적인 발전을 가능하게 합니다. 화학 부문에서는 극저온에서의 화학반응 연구를 도와 신소재 및 의약품 개발에 기여하고 있습니다. 또한, 생명공학 및 생명과학 분야에서 생물학적 시료의 보존, 유전자 연구 촉진, 재생의료용 세포 및 조직 보존 등 매우 중요한 역할을 담당하고 있습니다. 제약, 전자, 재료과학 등 각 산업 분야에서 연구개발이 강화됨에 따라 정밀하고 신뢰할 수 있는 극저온 장비에 대한 수요가 증가하고 있습니다. 이 장비는 연구자들이 새로운 영역을 개척하고 혁신적인 발견을 할 수 있는 힘이 되어 시장 확대의 원동력이 되고 있습니다. 또한, 극저온 기술의 발전으로 극저온 기술의 범용성과 효율성이 지속적으로 향상되어 전 세계 과학자와 연구자들에게 없어서는 안 될 도구가 되었습니다.
재생에너지원의 저장 및 운송을 위한 제품 사용 증가
재생에너지원을 저장하고 운송하기 위한 제품 사용이 증가하면서 시장 성장을 촉진하고 있습니다. 극저온 시스템, 특히 액체 수소와 액체 산소의 저장은 재생에너지 분야에서 매우 중요합니다. 이러한 시스템은 풍력이나 태양광과 같은 재생에너지 발전에서 생산된 잉여 에너지를 저장하는 데 매우 중요한 역할을 하며, 에너지 생산량이 낮거나 수요가 많을 때 사용할 수 있습니다. 재생에너지 시장이 성장함에 따라 세계 풍력 및 태양광발전 용량은 2027년까지 2,400GW에 달할 것으로 예상되며(업계 보고서에 따르면), 극저온 장비에 대한 수요가 증가하고 있습니다. 또한, 극저온 에너지 저장은 그리드의 안정성을 위해 확장 가능하고 친환경적인 솔루션을 제공하여 재생에너지 원의 간헐성 균형을 맞추고 안정적인 전력 공급을 보장하는 데 도움이 될 수 있습니다. 청정에너지원으로의 전환은 에너지 저장 및 운송을 위한 액화천연가스(LNG)를 포함한 극저온 인프라에 대한 투자 증가를 촉진하고 있습니다. 전 세계가 지속가능한 에너지 솔루션으로 전환하는 가운데 극저온 장비에 대한 수요는 계속 증가하고 있으며, 이는 극저온 장비 시장에 큰 성장 기회를 가져다 줄 것으로 예상됩니다. 극저온 장비는 이산화탄소 배출량을 줄이고 친환경 에너지 솔루션으로 전환하려는 전 세계의 노력과 일치하며 재생에너지 전망에서 중요한 요소로 자리 잡고 있습니다.
The global cryogenic equipment market size was valued at USD 22.73 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 34.40 Billion by 2033, exhibiting a CAGR of 4.23% during 2025-2033. Asia Pacific currently dominates the market, holding a significant market share of over 37.8% in 2024. The widespread adoption of advanced technology, the rising product demand in the healthcare industry for several applications, the growing product uptake in various food processing applications, and the escalating uptake of renewable energy sources are some of the factors propelling the market.
The cryogenic equipment market growth is primarily driven by the growing demand for liquefied natural gas (LNG) as a cleaner energy source coupled with the increasing need for industrial gases in sectors such as metallurgy, food processing and electronics. According to the report published by IEA, the demand for gas across the globe is set to reach a record 4,200 bcm in 2024 growing over 2.5% year-on-year. However, LNG supply increased only 2% in Q1-Q3 2024 with geopolitical conflicts and project delays affecting growth. Expanding healthcare applications including cryotherapy and cryopreservation significantly boost demand for cryogenic systems. The global shift toward renewable energy and hydrogen-based technologies further propels market growth as these sectors require advanced cryogenic solutions for storage and transportation. Ongoing technological innovations, rising investments in space exploration and stringent environmental regulations promoting clean energy adoption are key factors driving the market forward.
The United States cryogenic equipment market is driven by the rising demand for liquefied natural gas (LNG) as a cleaner energy source supported by the country's robust natural gas production. For instance, in January 2025, Freeport LNG in Texas announced the landmark shipment of its 800th liquefied natural gas cargo since operations began. JERA, a notable customer further announced the enhancement of its investment and infrastructure support for the expanding LNG facility. Growth in healthcare applications including cryotherapy, cryopreservation and medical gas storage plays a significant role. The expansion of hydrogen-based energy systems driven by the push for decarbonization further accelerates demand. The aerospace and defense sectors leverage cryogenic technologies for propulsion and material testing. Increasing industrial gas usage in food preservation, metal processing and electronics manufacturing also contributes to market growth alongside advancements in cryogenic technologies for efficiency and safety.
Rapid Industrialization
Rapid industrialization worldwide is offering numerous opportunities for the market. As industries expand and diversify, the demand for cryogenic equipment rises in tandem. In the chemical sector, cryogenic equipment is used to liquefy gases, with global LNG production reaching 401 million tons in 2023 (as per an industry report), driving demand. These industries often require extremely low-temperature solutions for various applications. In the chemical and petrochemical sector, for instance, this equipment is essential for the separation and liquefaction of gases, aiding in producing industrial gases, chemicals, and LNG, which, in turn, is facilitating the cryogenic equipment market demand. Additionally, the expanding pharmaceutical industry relies on it for the cryopreservation of biological materials, such as cell cultures and vaccines, ensuring their stability and efficacy. Furthermore, the food processing industry utilizes cryogenic freezing and cooling systems to maintain product quality, extend shelf life, and meet stringent safety standards. As developing countries undergo rapid industrialization, there's an increasing need for cryogenic equipment in these emerging markets, further fueling market growth.
Increasing Product Demand in Research and Development Activities
The increasing product demand in research and development (R&D) activities represents one of the key cryogenic equipment market trends. For instance, quantum computing advancements require cooling superconductors to temperatures below 1 Kelvin, while cryogenic systems enable the study of chemical reactions at extreme temperatures, impacting material science and pharmaceuticals. Cryogenic equipment is indispensable in various scientific disciplines, such as physics, chemistry, and biology, where ultra-low temperatures are required for experiments and analysis. It cools superconducting materials in physics, enabling breakthroughs in quantum computing and energy transmission. In chemistry, it aids in studying chemical reactions at extremely low temperatures, contributing to the development of new materials and pharmaceuticals. Additionally, it plays a pivotal role in biotechnology and life sciences by preserving biological samples, facilitating genetic research, and storing cells and tissues for regenerative medicine. As R&D efforts intensify across industries, including pharmaceuticals, electronics, and material science, the demand for precise and reliable cryogenic equipment grows. This equipment empowers researchers to explore new frontiers and make innovative discoveries, driving the market's expansion. Furthermore, advancements in cryogenic technology continue to enhance its versatility and efficiency, making it an indispensable tool for scientists and researchers worldwide.
Rising Product Utilization to Store and Transport Renewable Energy Sources
The rising product utilization to store and transport renewable energy sources fosters market growth. Cryogenic systems, particularly liquid hydrogen, and liquid oxygen storage are crucial in the emerging field of renewable energy. These systems play a pivotal role in storing excess energy generated from renewable sources, such as wind and solar power, which can be used during low energy production or high demand. As the renewable energy market grows, with global wind and solar capacity expected to reach 2,400 GW by 2027 (as per an industry report), the demand for cryogenic equipment increases. Moreover, cryogenic energy storage offers a scalable and environmentally friendly solution for grid stability, helping to balance the intermittency of renewable sources and ensuring a consistent power supply. The transition to clean energy sources has prompted increased investments in cryogenic infrastructure, including liquefied natural gas (LNG) for energy storage and transportation. As the world shifts towards sustainable energy solutions, the demand for cryogenic equipment in this context will continue rising, creating substantial growth opportunities for the cryogenic equipment market. This factor aligns with global efforts to reduce carbon emissions and transition to more environmentally friendly energy solutions, making cryogenic equipment a vital component in the renewable energy landscape.
Tanks leads the market with around 63.3% of market share in 2024. Cryogenic tanks are indispensable for storing and transporting liquefied gases, such as liquid nitrogen, liquid oxygen, and liquefied natural gas (LNG). The increasing demand for LNG as a cleaner energy source and the expanding applications of cryogenic gases across industries like healthcare, aerospace, and electronics are propelling the need for these tanks. Furthermore, the development of smaller, more portable cryogenic tanks is opening new avenues for applications in healthcare, laboratories, and even emerging industries like space tourism.
The ever-growing focus on sustainability and reducing carbon emissions also drives the adoption of cryogenic tanks for storing renewable energy sources. As these tanks evolve to meet diverse requirements and environmental standards, they continue to be a linchpin in the market's expansion, facilitating the safe and efficient handling of cryogenic materials across various industries.
Liquified natural gas leads the market with around 47.7% of the total cryogenic equipment market share in 2024. LNG is a supercooled form of natural gas, stored and transported at extremely low temperatures. The global transition toward cleaner energy sources has propelled the demand for LNG, making it a focal point in the cryogenic equipment market. Cryogenic technology, including specialized storage tanks and transport infrastructure, is pivotal in LNG's liquefaction, storage, and regasification. Its versatility spans multiple sectors, from powering vehicles to serving as a feedstock for various industries.
Compared to traditional fossil fuels, its role in reducing greenhouse gas emissions aligns with environmental goals. The LNG supply chain, reliant on cryogenic equipment, continuously evolves to meet growing energy demands and regulatory standards. As nations seek to reduce carbon footprints and embrace cleaner energy alternatives, the LNG sector's expansion underscores the importance of cryogenic equipment. This segment not only contributes to energy accessibility but also aligns with global sustainability efforts, emphasizing its prominent role in the future of energy and the cryogenic equipment market.
Storage leads the market with around 45.2% of market share in 2024. Cryogenic storage involves safely preserving and containing materials at ultra-low temperatures, typically below -150 degrees Celsius (-238 degrees Fahrenheit). This application is fundamental in various industries, such as healthcare, biotechnology, energy, and aerospace. In healthcare, cryogenic storage is vital for preserving biological specimens, including cells, tissues, and genetic material, ensuring their viability for research, diagnostics, and medical treatments. Biotechnology companies rely on it to maintain valuable samples and compounds, supporting drug development and bioprocessing.
Furthermore, the energy sector utilizes cryogenic storage for liquefied natural gas (LNG), enabling efficient transportation and storage of clean energy. The aerospace industry depends on it for safely handling propellants like liquid oxygen and liquid hydrogen, which are essential for space exploration. As the demand for cryogenic storage solutions grows across these diverse industries, the cryogenic equipment market witnesses consistent expansion. Advancements in cryogenic storage technologies and the need for secure and environmentally friendly storage solutions further drive this segment's importance, underlining its crucial role in various sectors and the overall market.
Energy and power leads the market with around 26.9% of market share in 2024. The energy and power sector is the largest end-use industry in the Cryogenic Equipment Market because of its critical need for efficient storage and transportation of liquefied gases. Cryogenic equipment is crucial for the production of liquefied natural gas (LNG) where it helps cool and store gas at ultra-low temperatures for easy transport and distribution. Growing global demand for LNG as an alternative source of energy further pushes the need for cryogenic solutions. Moreover, with the advancement in cryogenic technology, the generation of power especially through carbon capture and storage processes has become one of the biggest contributors to the industry's growth.
In 2024, Asia Pacific accounted for the largest market share of over 37.8%. Rapid industrialization and urbanization creating a positive cryogenic equipment market outlook across the region. Robust growth in sectors like manufacturing, chemicals, and healthcare necessitates using cryogenic technology for processes, storage, and transportation. Furthermore, the growing population and increasing disposable income levels in countries like China and India propel the healthcare and pharmaceutical sectors. Cryogenic equipment is integral in these sectors for storing and preserving medical samples, vaccines, and biological materials.
Moreover, the region is witnessing substantial advancements in space exploration and research, creating a need for cryogenic equipment in aerospace applications. Besides, as countries in the region prioritize sustainable and eco-friendly energy solutions, the use of cryogenic equipment for liquefied natural gas (LNG) production and storage is expanding. Additionally, the region's strong manufacturing base and growing technological capabilities contribute to the production and innovation of cryogenic equipment.
North America Cryogenic Equipment Market Analysis
The North American cryogenic equipment market is experiencing robust growth driven by rising demand for LNG exports and infrastructure expansion. The United States, a global leader in LNG exports benefits from competitive pricing and favorable geographic positioning fostering increased trade with key markets like Asia and Europe. The Canadian market is also contributing with investments in LNG export terminals and cryogenic technologies for hydrogen energy and carbon capture projects. Advancements in healthcare applications such as cryopreservation and cryosurgery and the growing use of industrial gases in food processing and manufacturing further fuel demand for cryogenic solutions. Government support for clean energy initiatives including hydrogen and LNG infrastructure enhances market growth. Key players in the region are leveraging these trends to strengthen their market presence and address the growing need for efficient, and high-quality cryogenic equipment.
United States Cryogenic Equipment Market Analysis
In 2024, the United States captured 86.70% of revenue in the North American market. The U.S. cryogenic equipment market is highly growing due to the growth in LNG exports from the country and its infrastructural development. According to industrial reports, in 2023, the United States overtook the UAE as India's second-largest LNG supplier, with exports reaching 3.09 million tonnes (MT) compared to 2.16 MT in 2022. LNG exports are driven by the competitive pricing of U.S. LNG due to weakening international LNG prices and favorable geographic positioning through the Cape of Good Hope, making it more competitive for markets like India. Increased LNG demand is mostly on the rise in Asia. As a result, liquefaction, transportation, and regasification processes for natural gas require higher quality cryogenic equipment. Therefore, the U.S. cryogenic equipment market benefits from this increase in the volume of trade in LNG due to further investment by the country in LNG infrastructure and expansion capacity. As the United States cements its position in international LNG exports, cryogenic equipment has an essential role to play in safeguarding and efficiently transporting LNG for a successful energy transition for the United States and in strengthening its foothold on global energy markets.
Europe Cryogenic Equipment Market Analysis
The cryogenic equipment market in Europe is bound to experience growth with growing demand from sectors like energy, healthcare, and food preservation. The European Green Deal, proposed by the European Commission, plans to mobilize USD 1.07 Trillion in sustainable investments in the next ten years directly supporting energy infrastructure, such as LNG terminals and cryogenic storage solutions. The Connecting Europe Facility (CEF) Energy program will provide around USD 5.72 Billion between 2021 and 2027 for projects to interconnect the EU's energy networks, thereby improving security of supply. Among key players are Germany, UK, and France; by 2025, Germany will spend USD 2.68 billion upgrading LNG terminals that will positively affect demand for cryogenic storage and transportation solutions. The healthcare sector's dependence on cryogenic technologies for biobanking and cryosurgery, combined with population growth and sustainability goals, are also fueling the demand for cryogenic solutions in Europe. The leading companies, Air Liquide and Messer Group, are capitalizing on these trends and thus strengthening their position in the market.
Latin America Cryogenic Equipment Market Analysis
In Latin America, there is a growth of the cryogenic equipment market caused by the growing demand for LNG and infrastructure investments. LNG imports in the region increased by almost 6% from August 2023, driven in part by rising demand from Brazil and Colombia, an industrial report indicated. Also, as of January 2023, the overall LNG volume imported to Latin America and the Caribbean was at 0.46 metric tons, according to an industrial report. Such an uptrend in imports also demonstrates the increasing demand for cryogenic storage and transportation solutions that are necessary for the supply of LNG. Brazil is one of the largest economies in this region and is currently investing in LNG infrastructure. Some of the new import terminals and regasification projects that are being developed. The increasing demand for cleaner energy sources and expanding use of natural gas in power generation and industrial applications is driving the demand for advanced cryogenic technologies. Yara International and Linde are among companies which play a key role in fulfilling the growing cryogenic needs in the region. The Latin American region is also benefited by energy security enhancement initiatives by their governments, which contribute significantly to the growth of this cryogenic equipment market within the region.
Middle East and Africa Cryogenic Equipment Market Analysis
In the Middle East, demand for cryogenic equipment is on the rise, especially in the UAE, due to the expansion of oil, gas, and LNG infrastructure by ADNOC. The company is actively engaged in offshore natural gas exploration with discoveries like the one in February 2022 off Abu Dhabi, International Trade Administration stated. The UAE will be self-sufficient in its gas supply by 2030, a move that will raise the demand for cryogenic storage and transport equipment for LNG, among other things. This is further heightened by ADNOC's new LNG plant in Fujairah, which it expects to double its export capacity to 9.6 million tons annually. Ongoing investments in the UAE include expansion downstream activities of USD 45 Billion and investment in Ruwais Derivatives Park at a value of USD 5 Billion, providing further significant opportunities for suppliers of cryogenic equipment. This investment also increases potential for sectors like industrial gas production and LNG processing. Efforts by ADNOC towards decarbonization and renewable energy investment, clean hydrogen, and carbon capture technology reflect a growth trend toward advanced cryogenic infrastructure within the region. As industrial projects like the first hydrogen electrolyzer plant are set up in the UAE, the Middle East will rely much on cryogenic technologies as the energy transition takes place. Combined with higher LNG production and export capacity, the UAE is taking the lead in the market for cryogenic equipment in the Middle East, providing significant opportunities for international suppliers.
Top companies are strengthening market growth through a combination of strategic initiatives. They are heavily investing in research and development, continually innovating and improving the efficiency and performance of cryogenic equipment. This not only caters to the growing demands of various industries but also promotes the adoption of these advanced solutions. Additionally, these companies are expanding their global presence by establishing partnerships, distribution networks, and manufacturing facilities in key regions, ensuring a wider reach and accessibility for their products. Furthermore, they prioritize sustainability by developing eco-friendly and energy-efficient cryogenic systems, aligning with global environmental regulations and the demand for greener technologies. Moreover, top players actively engage in mergers and acquisitions to broaden their product portfolios and gain access to complementary technologies, strengthening their market position. They also provide comprehensive customer support and after-sales services, enhancing customer satisfaction and loyalty. They leverage digitalization and Industry 4.0 technologies like IoT and data analytics to offer predictive maintenance and remote monitoring solutions, improving equipment reliability and minimizing downtime.