세계 극저온 펌프 시장 규모는 예측 기간 동안 4.68%의 연평균 복합 성장률(CAGR)로 성장하여 2023년 15억 3,512만 달러에서 2031년 22억 1,336만 달러로 성장할 것으로 예상됩니다.
극저온 펌프의 장점은 일반적으로 섭씨 영하 120도 전후의 극저온을 생성하고 견디며 작동할 수 있다는 점입니다. 극저온 펌프는 질소, 아르곤, 산소, LNG 등 극저온 가스의 냉동, 운송, 저장, 재가스화 등 다양한 용도로 사용됩니다.
극저온 펌프 시장은 LNG 수요 증가, 야금, 헬스케어, 식음료, 전자 등 산업 분야의 투자 증가, 가스 기반 발전 수요 증가 등의 요인에 의해 주도되고 있습니다. 극저온 펌프는 LNG의 운송, 저장 및 재기화에 필수적이며 LNG 공급망의 중요한 구성 요소로, LNG 시장이 계속 성장함에 따라 극저온 펌프에 대한 수요도 함께 증가하여 시장 확대의 큰 기회를 창출할 것으로 예상됩니다.
예를 들어, 2023년 10월, Svanehoj는 "HPP Triplex Unit"이라는 LNG 연료용 고압 선박용 펌프 유닛 세트를 개발했습니다. 최적의 유량과 긴 서비스 수명을 위해 설계된 컴팩트한 펌프 솔루션으로, 누출이 없는 중요한 구성품에 대한 해양 산업의 요구 사항을 충족하는 것. 스바네호이는 LNG용 저압 연료 펌프 및 화물 펌프 분야에서 수십 년의 경험을 보유하고 있으며, 2사이클 LNG 엔진용 고압 펌프까지 그 범위를 확장하고 있습니다.
원심식 극저온 펌프가 시장 성장을 주도하고 있습니다.
다양한 산업 공정에서 질소 및 아르곤과 같은 극저온 물질의 사용이 증가하면서 원심식 극저온 펌프에 대한 수요가 증가하고 있습니다. 마찰을 줄이고 효율을 높이기 위해 초전도 자기 베어링의 사용이 급증하고 극한의 온도와 압력을 견딜 수있는 복합재료의 사용이 시장 성장에 기여하고 있습니다. 또한, 극저온 펌프 시장은 전자, 에너지, 헬스케어, 항공우주 등의 산업에서 효과적인 냉각 솔루션과 기술 혁신에 대한 수요가 증가함에 따라 극저온 응용 분야에 대한 수요가 증가함에 따라 시장이 확대되고 있습니다.
잠수식 펌프가 시장 성장에 영향을 미칩니다.
잠수정 펌프가 시장 성장을 광범위하게 주도하고 있습니다. 수중 펌프는 건설 현장의 탈수 및 다양한 용도의 물 관리에 필수적이며 홍수, 침수 등 가혹한 조건에 적합합니다. 수중 펌프에 대한 수요는 물 공급 및 폐수 처리와 같은 인프라 구축과 밀접한 관련이 있습니다. 세계 수중 펌프 시장은 건설 산업에 대한 투자 증가와 상하수도 관리 수요 증가로 인해 크게 성장할 것으로 예상됩니다.
석유 및 가스 산업은 시장 성장을 가속합니다.
석유 및 가스 산업은 극저온 펌프의 주요 소비 산업으로, 화학 합성을 위한 질소, 수소, 산소, 이산화탄소 등 산업용 가스의 생산 및 저장 등 다양한 공정에서 극저온 펌프를 활용하고 있습니다. 에너지 및 전력 산업, 특히 석유 및 가스 분야의 극저온 가스 수요 증가는 극저온 펌프 시장의 성장을 가속하는 주요 요인 중 하나입니다.
세계 극저온 펌프(Cryogenic Pump) 시장을 조사했으며, 시장 정의와 개요, 시장 규모 추이와 예측, 각종 부문별/지역별 상세 분석, 산업 구조, 시장 성장에 영향을 미치는 요인 분석, 사례 연구, 경쟁 구도, 주요 기업 개요 등의 정보를 정리하여 전해드립니다.
Global cryogenic pumps market is projected to witness a CAGR of 4.68% during the forecast period 2024-2031, growing from USD 1535.12 million in 2023 to USD 2213.36 million in 2031. The benefits of cryogenic pumps include their ability to create, withstand, and operate in extremely low temperatures, typically around -120 degree Celsius. They are used for various applications such as refrigeration, transportation, storage, and regasification of cryogenic gases like nitrogen, argon, oxygen, and LNG.
The market for cryogenic pumps is driven by factors such as growing demand for LNG, increasing investments from the industrial sector such as metallurgy, healthcare, food and beverages, electronics, etc., and the rising demand for gas-based power generation. The increasing demand for LNG is a key factor driving the growth of the cryogenic pump market as they are essential for the transportation, storage, and regasification of LNG, making them a critical component of the LNG supply chain. As the LNG market continues to grow, the demand for cryogenic pumps is expected to rise in tandem, creating substantial opportunities for market expansion.
For instance, in October 2023, Svanehoj developed a complete high-pressure marine pump unit for LNG fuel called the "The HPP Triplex Unit". It is a compact pump solution designed for optimal flow and longer service life, meeting the maritime industry's demands for leak-free critical components. Svanehoj has experience of decades in low-pressure fuel and cargo pumps for LNG and has further extended its scope to include high-pressure pumps for two-stroke LNG engines.
Centrifugal Cryogenic Pumps Are Extensively Driving the Market Growth
The growing utilization of cryogens such as nitrogen and argon across various industrial processes is driving the demand for centrifugal cryogenic pumps. The upsurge in the use of superconducting magnetic bearings to reduce friction and increase efficiency, along with the use of composite materials that can withstand extreme temperatures and pressures, is contributing to the growth of the market. Moreover, the market for cryogenic pumps is expanding due to the growing demand for effective cooling solutions and technological breakthroughs in industries like electronics, energy, healthcare, and aerospace, which are driving the need for cryogenic applications.
For instance, in November 2022, Vanzetti Engineering expanded its range of centrifugal cryogenic pumps with the launch of the HDM series, designed for mounting on heavy tanker trucks. These centrifugal cryogenic pumps are used to transfer LNG from the truck to the tank at refueling stations, compensating for pressure differentials. The new HDM pumps, with a direct coupled hydraulic motor, offer a maximum operating speed of 7 and a maximum flow rate of 320 liters per minute, providing a cost-effective and reliable solution for various loading and unloading requirements.
Submerged Pumps are Influencing Market Prosperity
The submerged pump is extensively driving the market growth. Submersible pumps are essential for dewatering construction sites, and managing water in various applications, and are well-suited for harsh conditions such as flooding or waterlogging. The demand for submersible pumps is closely tied to infrastructure development, including water supply and wastewater treatment. The global submersible pumps market is projected to grow significantly, driven by increasing investments in the construction industry and the rising demand for water and wastewater management.
For instance, in January 2023, IceCure strengthened its intellectual properties for a submersible cryogenic pump, a key component of the ProSense System used for cryoablation. The innovative pump is designed to be submerged in liquid nitrogen, operating in a closed circuit to improve the cooling rate during procedures. It enables precise temperature control of the cryoprobe and facilitates the use of a wider range of cryoprobes and catheters. Additionally, the pump is engineered to support multiple or prolonged procedures without the need for frequent liquid nitrogen refills, thereby making it a versatile and efficient tool for tumor destruction through freezing.
Government Initiatives
Government initiatives are playing a pivotal role in shaping the market infrastructure. Government support through research funding and regulatory frameworks can foster the continued advancement and accessibility of cutting-edge medical technologies, ultimately benefiting patient care and treatment outcomes.
For instance, in January 2023, after completing a USD 14.5 million public offering, IceCure obtained patent protection for its cryogenic pump technology in the European Union and among the Japanese government. The patent will be valid until February 2040 and was recently granted in the European Union and allowed in Japan. The submersible pump, which works in a closed circuit and is submersible in liquid nitrogen, would improve the cooling rate during medical procedures. The innovation would enable IceCure to introduce a new generation of cryoablation systems with a small footprint for a wide range of applications.
Oil and Gas Industry Propels Market Growth
The Oil and Gas industry is a major consumer of cryogenic pumps, utilizing them in various processes, including the production and storage of industrial gases such as nitrogen, hydrogen, oxygen, and carbon dioxide for chemical synthesis. The increasing demand for cryogenic gases from the energy and power industry, especially in the oil and gas sectors, is one of the major factors driving the growth of the cryogenic pump market.
For instance, in November 2023, ITT Inc. completed the acquisition of Svanehoj Group A/S. Svanehoj's product portfolio includes fuel and energy pumps, deepwell gas cargo pumps, and tank control systems for low-emission and green fuels. The acquisition positions ITT to provide technologies that support the transition to cleaner energy.
Asia-Pacific to Dominate Cryogenic Pumps Market
Asia-Pacific dominates the market and is expected to grow at a significant rate. It is attributed to the region's growing end-use industries, rapid urbanization, and industrialization, particularly in emerging economies like China, India, and Japan. The surge in demand for industrial cryogas, increased investment in the infrastructure sector, and a focus on renewable energy further contribute to the region's dominance in the cryogenic pump market.
For instance, in February 2024, Fives and GuofuHee partnered to advance the Chinese mobility market with liquid hydrogen technology in cryogenic pumps. The collaboration aimed to optimize the performance of liquid hydrogen, particularly for liquefaction storage and transportation, and to support the expansion of hydrogen mobility in China. GuofuHee aimed to become China's largest provider of hydrogen equipment, and Fives continued to support the expansion and optimization of liquid hydrogen installations for the Chinese market.
Future Market Scenario (2024 - 2031F)
Continuous growing investments from the industrial sector, including metallurgy, healthcare, food and beverage, and electronics in developing economies, are expected to accelerate the demand for cryogenic pumps in the future, thereby leading to extensive opportunities for market prosperity.
Investment in R&D for future innovations in technological advancements of pump essentials such as magnetic bearings, improved insulation materials, and advanced control systems, expected to enhance the performance and reliability of cryogenic pumps, thereby catering to future needs, and stimulating market growth.
The continuously growing adoption of cryogenic applications across various industries, such as cryosurgery, cryopreservation, and cryogenic cooling, is expected to create a huge demand for cryogenic pumps in the future, thereby influencing market expedition.
Key market players are investing heavily in the technological advancements of cryogenic pumps and are anticipated to expedite the market growth at exponential growth in the future.
Key Players Landscape and Outlook
Key participants in the global cryogenic pumps market are currently focusing on advancing technologies and forming strategic partnerships to strengthen their global market position in an ever-changing environment.
In February 2024, Viewpoint partnered with SHI Cryogenics Group to explore the transformative potential of cryogenic technologies across industries. The collaboration involved the creation of an educational program that will focus on innovative cryogenic technologies. The program will feature behind-the-scenes insights into cutting-edge technologies and is set to be filmed in 2024. The partnership aimed to showcase the impact of cryogenic technologies and their applications in various sectors, with a particular emphasis on capturing the innovative aspects of these technologies.
In March 2023, EBARA Corporation developed the world's first liquid hydrogen booster pump for hydrogen power generation. The pump is designed to supply hydrogen to power generation gas turbines and can handle liquid hydrogen at -253 degree Celsius and higher pressure. The development of this pump is a significant advancement in the field of cryogenic liquid hydrogen pumps.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.