극저온 펌프 시장 규모는 2024년 241억 달러로 평가되었고, 2026-2032년 연평균 3.3% 성장하여 2032년에는 312억 5,000만 달러에 이를 것으로 예측됩니다.
극저온 펌프는 극저온(종종 -150℃ 이하)의 유체를 관리하고 조작하기 위한 특수 장비입니다.
이 펌프는 액화천연가스(LNG), 액체 질소, 액체 수소의 수송 및 압축 등 다양한 분야에서 사용되고 있습니다.
또한, MRI 장비와 같은 의료기기와 로켓의 동력원으로 항공우주 분야에서도 사용되고 있습니다.
또한, 극저온 펌프는 과학 연구를 위한 실험실과 극저온 연료를 취급하는 에너지 산업에서도 사용되고 있습니다.
극저온 펌프 시장을 형성하는 주요 시장 역학은 다음과 같습니다.
액화천연가스(LNG) 수요 증가: LNG에 대한 세계 수요 증가는 극저온 펌프 시장의 주요 촉진요인입니다. 국제에너지기구(IEA)에 따르면, 2022년 세계 LNG 교역량은 전년 대비 5.5% 증가한 3억 9,300만 톤에 달할 것이며, IEA는 2021-2025년 사이에 LNG 수요가 1,400억 입방미터 증가할 것으로 예상하고 있으며, 그 중 절반 이상을 아시아가 차지할 것으로 전망하고 있습니다. 소비가 증가함에 따라 저장, 운송, 재기화를 위한 효율적인 저온 펌프가 필요합니다.
의료 및 제약 산업의 확장 : 의료 및 제약 산업은 특히 생물학적 샘플 및 극저온 가스의 저장 및 운송을 위해 극저온 펌프의 중요한 사용자입니다. 세계보건기구(WHO)에 따르면, 세계 의료비 지출은 지속적으로 증가하고 있으며, 2019년에는 8조 5,000억 달러, 세계 GDP의 9.8%를 보일 것으로 예측됩니다. 이러한 추세는 앞으로도 계속될 것으로 예상되며, 그 결과 극저온 장비에 대한 수요가 증가할 것으로 예측됩니다. 또한, 코로나19 팬데믹은 콜드체인 물류의 필요성을 부각시켰고, 일부 예방접종에는 초저온 보관이 필요해 극저온 펌프 시장을 촉진하고 있습니다.
우주 탐사 및 위성 발사의 발전: 우주 산업의 확장이 극저온 펌프 시장을 주도하고 있습니다.2022년 위성산업협회(Satellite Industry Association)의 위성산업 현황 보고서(2022 State of the Satellite Industry Report)에 따르면, 2021년 세계 우주 경제는 전년 대비 9% 증가한 4.6억 달러에 달했습니다. 4,690억 달러에 달할 것으로 예측됩니다. 또한 보고서에 따르면 2021년에 발사된 우주선은 1,713대로 2020년 대비 70% 증가했습니다. 극저온 펌프는 로켓의 추진제로 사용되는 액체 산소와 수소를 취급하는 데 필수적이기 때문에 이 산업은 시장의 중요한 촉진제가 되고 있습니다.
주요 과제
조직화되지 않은 신규 시장 진출기업의 존재: 극저온 펌프의 가격 상승은 특히 중국과 인도에서 조직화되지 않은 부문의 소규모 사업자들의 욕구 증가를 가져왔습니다. 이러한 미조직 업체들의 혼란은 조직화된 극저온 펌프 시장의 성장을 저해하고 있습니다.
극저온 펌프 제조업체는 극저온 물질의 누출 및 손실이라는 큰 장애물에 직면해 있습니다. 모듈형 극저온 처리 플랜트의 수가 늘어날수록 극저온 물질의 누출과 온실 가스 배출 가능성도 높아집니다. 이는 시장에 큰 제약이 되고 있습니다.
코로나19 팬데믹의 영향: 코로나19 팬데믹은 수요 감소, 공급망 중단, 생산 활동 감소로 인해 극저온 펌프 시장에 악영향을 미쳤습니다. 주요 최종 사용자인 석유 및 가스 산업이 큰 타격을 입어 천연가스 가격이 급등락하여 극저온 펌프에 대한 투자에 영향을 미쳤습니다.
주요 동향
LNG 및 극저온 가스 수요 증가: 발전, 철강 생산, 헬스케어 등 다양한 산업에서 액화천연가스(LNG) 및 극저온 가스에 대한 수요가 증가함에 따라 극저온 펌프 시장이 성장하고 있습니다. 이러한 수요는 이러한 가스의 효율적인 운송 및 저장의 필요성에서 비롯됩니다.
재생 가능 에너지와 태양광 발전의 부상: 재생 가능 에너지, 특히 태양광 발전으로의 전환은 극저온 펌프에 새로운 전망을 가져다주고 있습니다. 이 펌프는 태양전지판 및 기타 재생 가능 에너지 기술 생산에 필요하며 수요와 시장 성장을 가속하고 있습니다.
극저온 기술의 발전: 극저온 기술의 지속적인 혁신은 보다 효율적이고 비용 효율적인 극저온 펌프의 개발을 가능하게 합니다. 여기에는 이러한 펌프의 성능과 신뢰성을 향상시키는 재료, 설계 및 작동 능력의 강화가 포함됩니다.
Cryogenic Pump Market size was valued at USD 24.1 Billion in 2024 and is projected to reach USD 31.25 Billion by 2032, growing at a CAGR of 3.3% from 2026 to 2032.
A cryogenic pump is a specialized device for managing and manipulating cryogenic fluids at extremely low temperatures, often below -150°C.
These pumps are employed in a variety of applications, including transporting and compressing liquefied natural gas (LNG), liquid nitrogen, and liquid hydrogen.
They are also used in medical equipment, like as MRI machines, and in the aerospace sector to power rockets.
Furthermore, cryogenic pumps are used in laboratories for scientific investigations and in the energy industry to handle cryogenic fuels.
The key market dynamics that are shaping the cryogenic pump market include:
Growing Demand for Liquefied Natural Gas (LNG): The increasing global demand for LNG is a major driver of the cryogenic pump market. According to the International Energy Agency (IEA), global LNG trade reached 393 million tons in 2022, up 5.5% from the previous year. The IEA predicts that LNG demand will rise by 140 billion cubic meters between 2021 and 2025, with Asia accounting for over half of the increase. As LNG trade and consumption rise, efficient cryogenic pumps for storage, transmission, and regasification are required.
Expansion of Healthcare and Pharmaceutical Industries: The healthcare and pharmaceutical industries are important users of cryogenic pumps, especially for storing and transporting biological samples and cryogenic gasses. The World Health Organization (WHO) states that worldwide health spending has continually increased, reaching USD 8.5 Trillion in 2019, or 9.8% of global GDP. This trend is projected to continue, resulting in increased demand for cryogenic equipment. Also, the COVID-19 pandemic has highlighted the necessity of cold chain logistics, with some vaccinations necessitating ultra-low temperature storage, driving up the cryogenic pump market.
Advancements in Space Exploration and Satellite Launches: The space industry's expansion is driving the cryogenic pump market. According to the Satellite Industry Association's 2022 State of the Satellite Industry Report, the global space economy reached USD 469 Billion in 2021, up 9% from the previous year. The report also states that 1,713 spacecraft were launched in 2021, up 70% from 2020. Cryogenic pumps are critical for handling liquid oxygen and hydrogen used as rocket propellants; hence this industry is a significant driver for the market.
Key Challenges:
Presence of Unorganized Players: The rise in cryogenic pump prices has resulted in an increasing desire among small-scale businesses in the unorganized sector, particularly in China and India. This disruption by unorganized firms impedes the expansion of the organized cryogenic pump market.
Leakage and Loss of Cryogens: Manufacturers of cryogenic pumps encounter significant hurdles in terms of cryogen leakage and loss. The number of modular cryogenic processing plants increases, as does the potential for cryogen leakage and greenhouse gas emissions. This is a big limitation on the market.
COVID-19 Pandemic Impact: The COVID-19 pandemic had a detrimental influence on the cryogenic pump market because of lower demand, supply chain interruptions, and a drop in production activity. The oil and gas industry, a key end-user, had a huge collapse, resulting in volatility in natural gas prices and impacting investments in cryogenic pumps.
Key Trends:
Growing Demand for LNG and Cryogenic Gases: The growing demand for liquefied natural gas (LNG) and cryogenic gases from a variety of industries, including power generation, steel production, and healthcare, is propelling the cryogenic pump market. This demand stems from the necessity for efficient transportation and storage of these gases.
Rise of Renewable Energy and Solar Power: The transition to renewable energy sources, particularly solar power, is offering new prospects for cryogenic pumps. These pumps are required for the production of solar panels and other renewable energy technologies, driving up demand and market growth.
Advancements in Cryogenic Technology: Continuous breakthroughs in cryogenic technology enable the creation of more efficient and cost-effective cryogenic pumps. This includes enhancements to materials, designs, and operational capabilities that increase the performance and dependability of these pumps.
Here is a more detailed regional analysis of the cryogenic pump market:
Asia Pacific:
According to Verified Market Research, the Asia Pacific region is estimated to dominate during the forecast period. The Asia Pacific region is experiencing considerable expansion in LNG consumption and infrastructure development, which is boosting the cryogenic pump market. According to the International Gas Union's 2022 World LNG Report, Asia Pacific was responsible for 70.7% of worldwide LNG imports in 2021. China alone raised LNG imports by 12.3 million tons in 2021, bringing the total to 79.3 million tons. This significant increase in LNG use demands widespread cryogenic pump installations at LNG terminals, storage facilities, and transportation systems throughout the region.
The healthcare sector in the Asia Pacific is quickly expanding, creating a demand for cryogenic pumps utilized in medical gas supply systems and biological sample preservation. According to a report by Research and Markets, the Asia Pacific healthcare market was valued at $1,995 billion in 2020 and is expected to rise at an 8.3% CAGR to $2,978 billion by 2025. This expansion is fueling investments in healthcare infrastructure, such as cryogenic storage and transportation networks that need specialized pumps.
Furthermore, the Asia Pacific region is witnessing substantial growth in the aerospace and satellite sectors, which is increasing demand for cryogenic pumps used in rocket propulsion. According to the Asia-Pacific Satellite Communications Council (APSCC), Asia-Pacific countries launched 138 satellites in 2020, a 55% increase from 89 in 2019. China alone launched 55 satellites in 2020. The increasing expansion of space activities in the region is pushing the demand for cryogenic pumps in fuel management and storage systems for rockets and spacecraft.
North America:
North America is estimated to exhibit substantial growth during the forecast period. North America, especially the United States, has witnessed substantial growth in LNG export capacity, resulting in an increased need for cryogenic pumps. According to the US Energy Information Administration (EIA), US LNG exports reached a new high of 11.1 billion cubic feet per day (Bcf/d) in 2022, up 12% from 2021. The EIA forecasts that US LNG export capacity will increase to 11.4 Bcf/d by the end of 2022 and 12.7 Bcf/d by 2024. This rapid expansion of LNG infrastructure demands modern cryogenic pumping technologies to ensure efficient liquefaction and transfer operations.
North America's aerospace sector, notably in the United States, is a major driver of the cryogenic pump market. According to the Aerospace Industries Association, the United States aerospace and defense industry earned $874 billion in sales revenue in 2021, with commercial aerospace accounting for $273 billion. NASA's budget for fiscal year 2022 was $24.8 billion, a 6.6% increase over the previous year, showing a continuous investment in space exploration. These expenditures increase the need for cryogenic pumps used in rocket propulsion systems and satellite cooling applications.
Furthermore, the North American region has a strong healthcare and life sciences industry, which drives demand for cryogenic storage solutions. According to the American Society for Clinical Pathology, the number of biobanks in the United States has increased significantly, with more than 800 registered as of 2021. The National Institutes of Health (NIH) forecasts that its biomedical research budget reached a total of $41.7 billion in fiscal year 2020. The expansion of biobanking and medical research necessitates the use of cryogenic pumps to sustain ultra-low temperatures for biological sample preservation.
Europe:
Europe's increasing reliance on LNG imports is driving up demand for cryogenic pumps. According to the European Commission, EU LNG imports hit a record high of 124 billion cubic meters (bcm) in 2022, up 60% from 2021. According to Eurostat, in 2022, LNG accounted for 34% of all extra-EU gas imports, up from 19% in 2021. This boom in LNG imports has resulted in greater investment in LNG terminals and related infrastructure, which has boosted the region's cryogenic pump market.
The European healthcare and pharmaceutical industries are major users of cryogenic equipment. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the European pharmaceutical market is estimated to be worth €249.8 billion in 2021. Also, Eurostat data reveal that healthcare spending in the EU reached €1,130 billion in 2020, accounting for 8.0% of GDP. This substantial growth in healthcare and pharmaceuticals is pushing up demand for cryogenic pumps, which are employed in medical gas supply systems and biological sample storage.
Furthermore, Europe's space sector is expanding rapidly, adding to the cryogenic pump market. The European Space Agency (ESA) reports a €6.49 billion budget for 2022, a 10% increase over 2021. According to Eurospace statistics and figures, the European space manufacturing industry's consolidated revenues will reach €8.8 billion in 2021, representing a 3% growth rate. As the number of satellite launches and space missions grows, so does the demand for cryogenic pumps to handle liquid propellants, propelling expansion in this market.
The Cryogenic Pump Market is segmented based on Type, Cryogen Type, End-User Industry, and Geography.
Based on Type, the market is segmented into Positive Displacement and Centrifugal. The centrifugal segment is estimated to dominate the cryogenic pump market due to its better operational efficiency when compared to positive displacement pumps. The centrifugal segment's rapid expansion can be attributable to the growing demand for efficient cryogenic fluid transportation and handling across a wide range of sectors.
Based on Cryogen Type, the Cryogenic Pump Market is segmented into Hydrogen, Nitrogen, LNG, Helium, and Others. The liquefied natural gas (LNG) segment is estimated to dominate during the forecast period due to increased demand for LNG, which is being driven by many economies throughout the world's transition to cleaner energy sources. The rising LNG industry and infrastructure are generating significant demand for cryogenic pumps, which is projected to boost the worldwide cryogenic pump market.
Based on the End-User Industry, the market is divided into Energy & Power, Healthcare, Electronics, Chemicals, and Others. The energy & power segment is estimated to dominate the global market due to rising demand for liquefied natural gas (LNG) in power generation, as well as the increased use of cryogenic pumps in gas-fired power plants to meet tough emissions rules. Furthermore, increased investment in LNG infrastructure, as well as the requirement for efficient cryogenic gas transportation and storage, all contribute to the energy & power segment's dominance in the cryogenic pump market.
Based on Geography, the Cryogenic Pump Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific region is estimated to dominate the cryogenic pump market. Cryogenic pumps are in high demand in the Asia Pacific due to the rising need for gas-based power generation as energy resources deplete and pollution laws tighten. Furthermore, growing investments in industries like as healthcare, food and beverage, and steel are driving the regional expansion of the cryogenic pump market in Asia Pacific.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.