1	INTRODUCTION	39 
1.1	STUDY OBJECTIVES	39 
1.2	MARKET DEFINITION	39 
1.3	INCLUSIONS AND EXCLUSIONS	40 
1.4	MARKET SCOPE	41 
1.4.1	CRYOGENIC EQUIPMENT MARKET SEGMENTATION	41 
1.4.2	REGIONAL SCOPE	42 
1.4.3	YEARS CONSIDERED	42 
1.5	CURRENCY CONSIDERED	43 
1.6	LIMITATIONS	43 
1.7	STAKEHOLDERS	43 
1.8	SUMMARY OF CHANGES	43 
1.8.1	IMPACT OF RECESSION	44 
2	RESEARCH METHODOLOGY	45 
2.1	RESEARCH DATA	45 
FIGURE 1	CRYOGENIC EQUIPMENT MARKET: RESEARCH DESIGN	46 
2.2	MARKET BREAKDOWN AND DATA TRIANGULATION	47 
FIGURE 2	DATA TRIANGULATION METHODOLOGY	47 
2.2.1	SECONDARY DATA	48 
2.2.1.1	Key data from secondary sources	48 
2.2.2	PRIMARY DATA	48 
2.2.2.1	Key data from primary sources	49 
2.2.2.2	Breakdown of primaries	49 
FIGURE 3	BREAKDOWN OF PRIMARIES: BY COMPANY TYPE, DESIGNATION, AND REGION	50 
2.3	MARKET SIZE ESTIMATION	50 
2.3.1	BOTTOM-UP APPROACH	50 
FIGURE 4	CRYOGENIC EQUIPMENT MARKET: BOTTOM-UP APPROACH	51 
2.3.2	TOP-DOWN APPROACH	51 
FIGURE 5	CRYOGENIC EQUIPMENT MARKET: TOP-DOWN APPROACH	52 
2.3.3	DEMAND-SIDE ANALYSIS	52 
2.3.3.1	Demand-side metrics	53 
FIGURE 6	METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR CRYOGENIC EQUIPMENT	53 
2.3.3.2	Assumptions for demand-side analysis	53 
2.3.4	SUPPLY-SIDE ANALYSIS	54 
FIGURE 7	KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF CRYOGENIC EQUIPMENT	54 
FIGURE 8	CRYOGENIC EQUIPMENT MARKET: SUPPLY-SIDE ANALYSIS	55 
2.3.4.1	Calculations for supply side	55 
2.3.4.2	Assumptions for supply-side analysis	55 
2.3.5	FORECAST	56 
2.3.5.1	Recession impact	56 
3	EXECUTIVE SUMMARY	57 
TABLE 1	CRYOGENIC EQUIPMENT MARKET SNAPSHOT	58 
FIGURE 9	TANKS TO DOMINATE CRYOGENIC EQUIPMENT MARKET THROUGHOUT FORECAST PERIOD	59 
FIGURE 10	NITROGEN TO ACCOUNT FOR LARGEST SHARE OF CRYOGENIC EQUIPMENT MARKET IN 2028	59 
FIGURE 11	ELECTRONICS INDUSTRY TO HOLD MAJORITY OF MARKET SHARE IN 2028	60 
FIGURE 12	CASU APPLICATIONS TO HOLD LARGER SHARE OF CRYOGENIC EQUIPMENT MARKET IN 2028	60 
FIGURE 13	STORAGE SYSTEMS TO LEAD CRYOGENIC EQUIPMENT MARKET THROUGHOUT FORECAST PERIOD	61 
FIGURE 14	ASIA PACIFIC DOMINATED CRYOGENIC EQUIPMENT MARKET IN 2022	61 
4	PREMIUM INSIGHTS	63 
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CRYOGENIC EQUIPMENT MARKET	63 
FIGURE 15	UTILIZATION OF INDUSTRIAL GASES IN METALLURGY AND ENERGY & POWER INDUSTRIES TO DRIVE MARKET	63 
4.2	CRYOGENIC EQUIPMENT MARKET, BY REGION	64 
FIGURE 16	ASIA PACIFIC TO REGISTER HIGHEST CAGR IN CRYOGENIC EQUIPMENT MARKET DURING FORECAST PERIOD	64 
4.3	CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC, BY CRYOGEN AND COUNTRY	65 
FIGURE 17	NITROGEN AND CHINA HELD LARGEST SHARE OF ASIA PACIFIC CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN AND COUNTRY, RESPECTIVELY, IN 2022	65 
4.4	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT	66 
FIGURE 18	TANKS HELD LARGEST SHARE OF GLOBAL CRYOGENIC EQUIPMENT MARKET IN 2022	66 
4.5	CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN	66 
FIGURE 19	NITROGEN SEGMENT CAPTURED MAJORITY OF MARKET SHARE IN 2022	66 
4.6	CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY	67 
FIGURE 20	METALLURGY INDUSTRY ACCOUNTED FOR LARGEST SHARE OF CRYOGENIC EQUIPMENT MARKET IN 2022	67 
4.7	CRYOGENIC EQUIPMENT MARKET, BY APPLICATION	67 
FIGURE 21	CASU APPLICATIONS DOMINATED CRYOGENIC EQUIPMENT MARKET IN 2022	67 
4.8	CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE	67 
FIGURE 22	STORAGE SYSTEMS DOMINATED CRYOGENIC EQUIPMENT MARKET IN 2022	67 
5	MARKET OVERVIEW	68 
5.1	INTRODUCTION	68 
5.2	MARKET DYNAMICS	68 
FIGURE 23	CRYOGENIC EQUIPMENT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	68 
5.2.1	DRIVERS	69 
5.2.1.1	Increasing utilization of industrial gases in metallurgy, oil & gas, and energy & power industries	69 
FIGURE 24	GLOBAL OIL DEMAND, 2019–2028	70 
TABLE 2	GLOBAL OIL DEMAND (OECD VS. NON-OECD), 2021–2028	70 
5.2.1.2	Growing popularity of liquefied natural gas as source of clean and efficient energy	70 
5.2.1.3	Rapid transition toward clean energy	71 
FIGURE 25	GLOBAL CLEAN ENERGY INVESTMENTS, 2015–2023	72 
5.2.2	RESTRAINTS	72 
5.2.2.1	High CAPEX and OPEX costs associated with cryogenic plants	72 
5.2.2.2	Volatile raw material and metal prices and significant competition from gray market players	73 
FIGURE 26	IRON ORE PRICING TREND, 2016–2023	73 
5.2.3	OPPORTUNITIES	73 
5.2.3.1	Launch of new space and satellite missions	73 
5.2.3.2	Evolving applications of cryogenic electronics	74 
5.2.3.3	Development of hydrogen economy	75 
5.2.4	CHALLENGES	75 
5.2.4.1	Hazards and greenhouse gas emissions resulting from leakage of cryogenic fluids	75 
5.2.4.2	Supply chain disruptions due to Russia–Ukraine war	76 
5.3	TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS	77 
FIGURE 27	TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS	77 
5.4	PRICING ANALYSIS	78 
5.4.1	INDICATIVE PRICING ANALYSIS, BY EQUIPMENT	78 
TABLE 3	CRYOGENIC EQUIPMENT: INDICATIVE PRICING ANALYSIS, 2022	78 
5.4.2	AVERAGE SELLING PRICE TREND, BY REGION	78 
TABLE 4	CRYOGENIC EQUIPMENT: AVERAGE SELLING PRICE TREND, 2022	78 
5.5	SUPPLY CHAIN ANALYSIS	79 
FIGURE 28	CRYOGENIC EQUIPMENT MARKET: SUPPLY CHAIN ANALYSIS	79 
5.5.1	CRYOGENIC EQUIPMENT RAW MATERIAL SUPPLIERS	79 
5.5.2	CRYOGENIC EQUIPMENT MANUFACTURERS	79 
5.5.3	INDUSTRIAL GAS MANUFACTURERS	79 
5.5.4	END USERS	79 
5.6	ECOSYSTEM/MARKET MAP	80 
TABLE 5	ROLE OF PLAYERS IN ECOSYSTEM	80 
5.7	TECHNOLOGY ANALYSIS	80 
5.8	PATENT ANALYSIS	82 
FIGURE 29	INNOVATIONS AND PATENT REGISTRATIONS PERTAINING TO CRYOGENIC EQUIPMENT, 2018–2022	82 
5.8.1	LIST OF MAJOR PATENTS	83 
5.9	TRADE ANALYSIS	83 
5.9.1	HS CODE 280430	83 
5.9.1.1	Nitrogen export scenario	83 
TABLE 6	EXPORT DATA FOR HS CODE 280430, BY COUNTRY, 2020–2022 (USD THOUSAND)	83 
FIGURE 30	NITROGEN EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	84 
5.9.1.2	Nitrogen import scenario	84 
TABLE 7	IMPORT SCENARIO FOR HS CODE 280430, BY COUNTRY, 2020–2022 (USD THOUSAND)	84 
FIGURE 31	NITROGEN IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	85 
5.9.2	HS CODE 280421	85 
5.9.2.1	Argon export scenario	85 
TABLE 8	EXPORT DATA FOR HS CODE 280421, BY COUNTRY, 2020–2022 (USD THOUSAND)	85 
FIGURE 32	ARGON EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	86 
5.9.2.2	Argon import scenario	86 
TABLE 9	IMPORT SCENARIO FOR HS CODE 280421, BY COUNTRY, 2020–2022 (USD THOUSAND)	86 
FIGURE 33	ARGON IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	87 
5.9.3	HS CODE 280440	87 
5.9.3.1	Oxygen export scenario	87 
TABLE 10	EXPORT DATA FOR HS CODE 280440, BY COUNTRY, 2020–2022 (USD THOUSAND)	87 
FIGURE 34	OXYGEN EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	88 
5.9.3.2	Oxygen import scenario	88 
TABLE 11	IMPORT SCENARIO FOR HS CODE 280440, BY COUNTRY, 2020–2022 (USD THOUSAND)	88 
FIGURE 35	OXYGEN IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	89 
5.9.4	HS CODE 271111	89 
5.9.4.1	LNG export scenario	89 
TABLE 12	EXPORT DATA FOR HS CODE 271111, BY COUNTRY, 2020–2022 (USD THOUSAND)	89 
FIGURE 36	LNG EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	90 
5.9.4.2	LNG import scenario	90 
TABLE 13	IMPORT SCENARIO FOR HS CODE 271111, BY COUNTRY, 2020–2022 (USD THOUSAND)	90 
FIGURE 37	LNG IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	91 
5.9.5	HS CODE 280410	91 
5.9.5.1	Hydrogen export scenario	91 
TABLE 14	EXPORT DATA FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)	91 
FIGURE 38	HYDROGEN EXPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	92 
5.9.5.2	Hydrogen import scenario	92 
TABLE 15	IMPORT SCENARIO FOR HS CODE 280410, BY COUNTRY, 2020–2022 (USD THOUSAND)	92 
FIGURE 39	HYDROGEN IMPORT DATA FOR TOP 5 COUNTRIES, 2020–2022 (USD THOUSAND)	93 
5.10	KEY CONFERENCES AND EVENTS, 2023–2024	93 
TABLE 16	CRYOGENIC EQUIPMENT MARKET: LIST OF CONFERENCES AND EVENTS	93 
5.11	TARIFFS AND REGULATORY LANDSCAPE	95 
5.11.1	REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	95 
TABLE 17	NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	95 
TABLE 18	EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	95 
TABLE 19	GLOBAL: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	95 
5.11.2	CRYOGENIC EQUIPMENT MARKET: REGULATORY FRAMEWORK	96 
5.12	PORTER’S FIVE FORCES ANALYSIS	97 
FIGURE 40	CRYOGENIC EQUIPMENT MARKET: PORTER’S FIVE FORCES ANALYSIS	97 
TABLE 20	CRYOGENIC EQUIPMENT MARKET: PORTER’S FIVE FORCES ANALYSIS	97 
5.12.1	THREAT OF NEW ENTRANTS	98 
5.12.2	BARGAINING POWER OF SUPPLIERS	98 
5.12.3	BARGAINING POWER OF BUYERS	98 
5.12.4	THREAT OF SUBSTITUTES	98 
5.12.5	INTENSITY OF COMPETITIVE RIVALRY	99 
5.13	CASE STUDY ANALYSIS	99 
5.13.1	PHARMACEUTICAL INGREDIENT MANUFACTURER ADOPTED AFCRYO’S CRYOCUBE PRODUCT TO RECEIVE SECURE SUPPLY OF PHARMACOPOEIA-COMPLIANT LIQUID AND GAS	99 
5.14	MAJOR PHARMACEUTICAL COMPANY INTRODUCED COMPREHENSIVE CRYOGENIC SOLUTION TO REVOLUTIONIZE COLD CHAIN MANAGEMENT	100 
5.14.1	RESEARCH INSTITUTE DEVELOPED CRYOGENIC SOLUTION FOR SPECIMEN PRESERVATION	100 
5.15	KEY STAKEHOLDERS AND BUYING CRITERIA	101 
5.15.1	KEY STAKEHOLDERS IN BUYING PROCESS	101 
FIGURE 41	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USER INDUSTRIES	101 
TABLE 21	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USER INDUSTRIES (%)	101 
5.15.2	BUYING CRITERIA	102 
FIGURE 42	KEY BUYING CRITERIA FOR TOP 3 END-USER INDUSTRIES	102 
TABLE 22	KEY BUYING CRITERIA FOR TOP 3 END-USER INDUSTRIES	102 
6	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT	103 
6.1	INTRODUCTION	104 
FIGURE 43	CRYOGENIC EQUIPMENT MARKET SHARE, BY EQUIPMENT, 2022	104 
TABLE 23	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	104 
TABLE 24	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	105 
TABLE 25	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (THOUSAND UNITS)	105 
TABLE 26	CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (THOUSAND UNITS)	105 
6.2	TANKS	106 
6.2.1	INCREASING LNG PRODUCTION TO FUEL DEMAND FOR CRYOGENIC TANKS	106 
TABLE 27	TANKS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	106 
TABLE 28	TANKS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	107 
6.3	VALVES	107 
6.3.1	HIGH DEMAND FOR INDUSTRIAL GASES FROM AEROSPACE AND ELECTRONICS COMPANIES TO DRIVE MARKET	107 
TABLE 29	VALVES: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	108 
TABLE 30	VALVES: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	108 
6.4	VAPORIZERS	108 
6.4.1	GROWING CONSUMPTION OF INDUSTRIAL GASES ACROSS END-USER INDUSTRIES TO BOOST DEMAND FOR CRYOGENIC VAPORIZERS	108 
TABLE 31	VAPORIZERS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	109 
TABLE 32	VAPORIZERS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	109 
6.5	PUMPS	110 
6.5.1	INCREASING USE OF LNG AS BUNKER FUEL TO CREATE REQUIREMENT FOR CRYOGENIC PUMPS	110 
TABLE 33	PUMPS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	110 
TABLE 34	PUMPS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	111 
6.6	OTHER EQUIPMENT	111 
TABLE 35	OTHER EQUIPMENT: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	112 
TABLE 36	OTHER EQUIPMENT: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	112 
7	CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN	113 
7.1	INTRODUCTION	114 
FIGURE 44	CRYOGENIC EQUIPMENT MARKET SHARE, BY CRYOGEN, 2022	114 
TABLE 37	CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	114 
TABLE 38	CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	115 
7.2	NITROGEN	115 
7.2.1	HIGH ADOPTION OF NITROGEN IN ENERGY & POWER SECTOR TO BOOST DEMAND FOR CRYOGENIC EQUIPMENT	115 
TABLE 39	NITROGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	115 
TABLE 40	NITROGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	116 
7.3	ARGON	116 
7.3.1	RISING DEMAND FOR ELECTRONICS TO LEAD TO HIGH REQUIREMENT FOR ARGON-HANDLING CRYOGENIC EQUIPMENT	116 
TABLE 41	ARGON: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	117 
TABLE 42	ARGON: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	117 
7.4	OXYGEN	117 
7.4.1	INCREASING STEEL AND IRON PRODUCTION TO CREATE HIGH DEMAND FOR OXYGEN-RELATED CRYOGENIC EQUIPMENT	117 
TABLE 43	OXYGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	118 
TABLE 44	OXYGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	118 
7.5	LNG	118 
7.5.1	RISING USE OF LNG AS CLEANER ENERGY SOURCE TO ACCELERATE DEMAND FOR CRYOGENIC EQUIPMENT	118 
TABLE 45	LNG: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	119 
TABLE 46	LNG: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	119 
7.6	HYDROGEN	119 
7.6.1	GROWING IMPLEMENTATION OF HYDROGEN FUEL CELLS IN TRANSPORTATION AND ENERGY APPLICATIONS TO FUEL MARKET GROWTH	119 
TABLE 47	HYDROGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	120 
TABLE 48	HYDROGEN: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	120 
7.7	OTHER CRYOGENS	121 
TABLE 49	OTHER CRYOGENS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	121 
TABLE 50	OTHER CRYOGENS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	121 
8	CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY	122 
8.1	INTRODUCTION	123 
FIGURE 45	CRYOGENIC EQUIPMENT MARKET SHARE, BY END-USER INDUSTRY, 2022	123 
TABLE 51	CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	123 
TABLE 52	CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	124 
8.2	METALLURGY	124 
8.2.1	ADOPTION OF CRYOGENIC EQUIPMENT IN WELDING, FABRICATION, AND COOLING PROCESSES TO BOOST SEGMENTAL GROWTH	124 
TABLE 53	METALLURGY: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	125 
TABLE 54	METALLURGY: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	125 
TABLE 55	METALLURGY: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	126 
TABLE 56	METALLURGY: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	126 
8.3	ENERGY & POWER	126 
8.3.1	NEED TO IMPROVE EFFICIENCY AND CAPACITY OF POWER TRANSMISSION AND DISTRIBUTION SYSTEMS TO ACCELERATE DEMAND FOR CRYOGENIC EQUIPMENT	126 
TABLE 57	ENERGY & POWER: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	127 
TABLE 58	ENERGY & POWER: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	128 
TABLE 59	ENERGY & POWER: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	128 
TABLE 60	ENERGY & POWER: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	128 
8.4	CHEMICAL	129 
8.4.1	REQUIREMENT TO STORE VOLATILE AND REACTIVE CHEMICALS FOR EXTENDED PERIOD TO BOOST DEMAND FOR CRYOGENIC EQUIPMENT	129 
TABLE 61	CHEMICAL: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	130 
TABLE 62	CHEMICAL: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	130 
TABLE 63	CHEMICAL: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	130 
TABLE 64	CHEMICAL: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	131 
8.5	ELECTRONICS	131 
8.5.1	DEVELOPMENT OF SUPERCONDUCTING ELECTRONICS TO DRIVE MARKET	131 
TABLE 65	ELECTRONICS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	132 
TABLE 66	ELECTRONICS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	132 
TABLE 67	ELECTRONICS: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	132 
TABLE 68	ELECTRONICS: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	133 
8.6	TRANSPORTATION	133 
8.6.1	DEVELOPMENT OF FUEL CELL-POWERED ELECTRIC VEHICLES TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS	133 
TABLE 69	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY TRANSPORT TYPE, 2018–2022 (USD MILLION)	134 
TABLE 70	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY TRANSPORT TYPE, 2023–2028 (USD MILLION)	134 
TABLE 71	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	135 
TABLE 72	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	135 
TABLE 73	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	135 
TABLE 74	TRANSPORTATION: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	136 
8.7	OTHER END-USER INDUSTRIES	136 
TABLE 75	OTHER END-USER INDUSTRIES: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	137 
TABLE 76	OTHER END-USER INDUSTRIES: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	137 
TABLE 77	OTHER END-USER INDUSTRIES: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	138 
TABLE 78	OTHER END-USER INDUSTRIES: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	138 
9	CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE	139 
9.1	INTRODUCTION	140 
FIGURE 46	CRYOGENIC EQUIPMENT MARKET SHARE, BY SYSTEM TYPE, 2022	140 
TABLE 79	CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	140 
TABLE 80	CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	141 
9.2	STORAGE SYSTEM	141 
9.2.1	GROWING ADOPTION OF CRYOGENIC ENERGY STORAGE SYSTEMS BY AEROSPACE COMPANIES TO PROVIDE LUCRATIVE OPPORTUNITIES	141 
TABLE 81	STORAGE SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	142 
TABLE 82	STORAGE SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	142 
9.3	HANDLING SYSTEM	142 
9.3.1	INCREASING FOCUS OF MANUFACTURING FIRMS ON EXTENDING LIFESPAN OF TOOLS AND ACHIEVE COST SAVING TO DRIVE SEGMENTAL GROWTH	142 
TABLE 83	HANDLING SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	143 
TABLE 84	HANDLING SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	143 
9.4	SUPPLY SYSTEM	144 
9.4.1	RISING USE OF SUPPLY SYSTEMS IN HEALTHCARE, AEROSPACE, AND INDUSTRIAL APPLICATIONS TO SUPPORT MARKET GROWTH	144 
TABLE 85	SUPPLY SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	144 
TABLE 86	SUPPLY SYSTEM: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	145 
9.5	OTHERS	145 
TABLE 87	OTHERS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	146 
TABLE 88	OTHERS: CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	146 
10	CRYOGENIC EQUIPMENT MARKET, BY APPLICATION	147 
10.1	INTRODUCTION	148 
FIGURE 47	CRYOGENIC EQUIPMENT MARKET SHARE, BY APPLICATION, 2022	148 
TABLE 89	CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	148 
TABLE 90	CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	149 
TABLE 91	NON-CASU: CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	149 
TABLE 92	NON-CASU: CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	149 
10.2	CASU (CRYOGENIC AIR SEPARATION UNIT)	150 
10.2.1	INSTALLATION OF CASU TO SEPARATE AND PRODUCE HIGH-PURITY GASES AT EXTREMELY LOW TEMPERATURES TO DRIVE MARKET	150 
10.3	NON-CASU (NON-CRYOGENIC AIR SEPARATION UNIT)	150 
10.3.1	UTILIZATION OF NON-CASU IN INDUSTRIAL APPLICATIONS THAT DO NOT REQUIRE HIGH-PURITY GASES TO FUEL MARKET GROWTH	150 
10.3.2	RAIL AND ROAD TRANSPORT INDUSTRY	150 
10.3.3	LNG BULK CARRIER SHIPS	150 
10.3.4	LNG REGASIFICATION AND LIQUEFACTION TERMINALS	151 
10.3.5	OTHER MINOR APPLICATIONS	151 
11	CRYOGENIC EQUIPMENT MARKET, BY REGION	152 
11.1	INTRODUCTION	153 
FIGURE 48	ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN CRYOGENIC EQUIPMENT MARKET DURING FORECAST PERIOD	153 
FIGURE 49	CRYOGENIC EQUIPMENT MARKET SHARE, IN TERMS OF VALUE, BY REGION, 2022	154 
TABLE 93	CRYOGENIC EQUIPMENT MARKET, BY REGION, 2018–2022 (USD MILLION)	154 
TABLE 94	CRYOGENIC EQUIPMENT MARKET, BY REGION, 2023–2028 (USD MILLION)	154 
11.2	ASIA PACIFIC	155 
11.2.1	RECESSION IMPACT ON MARKET IN ASIA PACIFIC	155 
FIGURE 50	SNAPSHOT: CRYOGENIC EQUIPMENT MARKET IN ASIA PACIFIC	156 
11.2.2	BY EQUIPMENT	157 
TABLE 95	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	157 
TABLE 96	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	157 
11.2.3	BY CRYOGEN	158 
TABLE 97	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	158 
TABLE 98	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	158 
11.2.4	BY END-USER INDUSTRY	159 
TABLE 99	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	159 
TABLE 100	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	159 
11.2.5	BY SYSTEM TYPE	159 
TABLE 101	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	159 
TABLE 102	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	160 
11.2.6	BY COUNTRY	160 
TABLE 103	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	160 
TABLE 104	ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	160 
11.2.6.1	China	161 
11.2.6.1.1	Growing focus on improving LNG infrastructure to create growth opportunities for providers of cryogenic equipment	161 
11.2.6.1.2	By end-user industry	161 
TABLE 105	CHINA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	161 
TABLE 106	CHINA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	162 
11.2.6.2	India	162 
11.2.6.2.1	Increasing investments in space missions to drive market	162 
11.2.6.2.2	By equipment	163 
TABLE 107	INDIA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	163 
TABLE 108	INDIA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	163 
11.2.6.2.3	By cryogen	163 
TABLE 109	INDIA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	163 
TABLE 110	INDIA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	164 
11.2.6.2.4	By end-user industry	164 
TABLE 111	INDIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	164 
TABLE 112	INDIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	165 
11.2.6.2.5	By application	165 
TABLE 113	INDIA: CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2018–2022 (USD MILLION)	165 
TABLE 114	INDIA: CRYOGENIC EQUIPMENT MARKET, BY APPLICATION, 2023–2028 (USD MILLION)	165 
TABLE 115	INDIA: CRYOGENIC EQUIPMENT MARKET, BY NON-CASU APPLICATION, 2018–2022 (USD MILLION)	166 
TABLE 116	INDIA: CRYOGENIC EQUIPMENT MARKET, BY NON-CASU APPLICATION, 2023–2028 (USD MILLION)	166 
11.2.6.3	Australia	166 
11.2.6.3.1	Increasing government investments in energy & power and metallurgy industries to drive market	166 
11.2.6.3.2	By end-user industry	167 
TABLE 117	AUSTRALIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	167 
TABLE 118	AUSTRALIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	167 
11.2.6.4	Japan	167 
11.2.6.4.1	Increasing investments in LNG projects to fuel market growth	167 
11.2.6.4.2	By end-user industry	168 
TABLE 119	JAPAN: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	168 
TABLE 120	JAPAN: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	168 
11.2.6.5	Malaysia	169 
11.2.6.5.1	Government focus on energy capacity addition to contribute to market growth	169 
11.2.6.5.2	By end-user industry	169 
TABLE 121	MALAYSIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	169 
TABLE 122	MALAYSIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	170 
11.2.6.6	Rest of Asia Pacific	170 
11.2.6.6.1	By end-user industry	170 
TABLE 123	REST OF ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	170 
TABLE 124	REST OF ASIA PACIFIC: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	171 
11.3	EUROPE	171 
11.3.1	RECESSION IMPACT ON MARKET IN EUROPE	171 
FIGURE 51	SNAPSHOT: CRYOGENIC EQUIPMENT MARKET IN EUROPE	172 
11.3.2	BY EQUIPMENT	173 
TABLE 125	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	173 
TABLE 126	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	173 
11.3.3	BY CRYOGEN	173 
TABLE 127	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	173 
TABLE 128	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	174 
11.3.4	BY END-USER INDUSTRY	174 
TABLE 129	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	174 
TABLE 130	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	175 
11.3.5	BY SYSTEM TYPE	175 
TABLE 131	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	175 
TABLE 132	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	175 
11.3.6	BY COUNTRY	176 
TABLE 133	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	176 
TABLE 134	EUROPE: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	176 
11.3.6.1	Russia	176 
11.3.6.1.1	Investments in LNG projects to fuel market growth	176 
11.3.6.1.2	By end-user industry	177 
TABLE 135	RUSSIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	177 
TABLE 136	RUSSIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	177 
11.3.6.2	UK	178 
11.3.6.2.1	Government’s commitment to net zero carbon emissions to foster demand for cryogenic equipment	178 
11.3.6.2.2	By end-user industry	178 
TABLE 137	UK: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	178 
TABLE 138	UK: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	179 
11.3.6.3	Germany	179 
11.3.6.3.1	Booming energy & power and chemical industries to contribute to market growth	179 
11.3.6.3.2	By end-user industry	180 
TABLE 139	GERMANY: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	180 
TABLE 140	GERMANY: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	180 
11.3.6.4	France	180 
11.3.6.4.1	Industrial decarbonization goals to boost demand for cryogenic equipment	180 
11.3.6.4.2	By end-user industry	181 
TABLE 141	FRANCE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	181 
TABLE 142	FRANCE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	181 
11.3.6.5	Rest of Europe	181 
11.3.6.5.1	By end-user industry	182 
TABLE 143	REST OF EUROPE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	182 
TABLE 144	REST OF EUROPE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	182 
11.4	NORTH AMERICA	183 
11.4.1	RECESSION IMPACT ON MARKET IN NORTH AMERICA	183 
11.4.2	BY EQUIPMENT	183 
TABLE 145	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	183 
TABLE 146	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	184 
11.4.3	BY CRYOGEN	184 
TABLE 147	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	184 
TABLE 148	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	184 
11.4.4	BY END-USER INDUSTRY	185 
TABLE 149	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	185 
TABLE 150	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	185 
11.4.5	BY SYSTEM TYPE	186 
TABLE 151	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	186 
TABLE 152	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	186 
11.4.6	BY COUNTRY	186 
TABLE 153	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	186 
TABLE 154	NORTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	187 
11.4.6.1	US	187 
11.4.6.1.1	Strong focus on natural gas generation and exports to support market growth	187 
11.4.6.1.2	By end-user industry	188 
TABLE 155	US: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	188 
TABLE 156	US: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	188 
11.4.6.2	Canada	188 
11.4.6.2.1	Construction of LNG export facilities to generate significant demand for cryogenic equipment	188 
11.4.6.2.2	By end-user industry	189 
TABLE 157	CANADA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	189 
TABLE 158	CANADA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	189 
11.4.6.3	Mexico	190 
11.4.6.3.1	Development of shale reservoirs to create opportunities for market players	190 
11.4.6.3.2	By end-user industry	190 
TABLE 159	MEXICO: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	190 
TABLE 160	MEXICO: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	191 
11.5	MIDDLE EAST	191 
11.5.1	RECESSION IMPACT ON MARKET IN MIDDLE EAST	191 
11.5.2	BY EQUIPMENT	192 
TABLE 161	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	192 
TABLE 162	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	192 
11.5.3	BY CRYOGEN	193 
TABLE 163	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	193 
TABLE 164	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	193 
11.5.4	BY END-USER INDUSTRY	194 
TABLE 165	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	194 
TABLE 166	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	194 
11.5.5	BY SYSTEM TYPE	195 
TABLE 167	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	195 
TABLE 168	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	195 
11.5.6	BY COUNTRY	195 
TABLE 169	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	195 
TABLE 170	MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	196 
11.5.6.1	Saudi Arabia	196 
11.5.6.1.1	Initiation of LNG projects to accelerate market growth	196 
11.5.6.1.2	By end-user industry	197 
TABLE 171	SAUDI ARABIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	197 
TABLE 172	SAUDI ARABIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	197 
11.5.6.2	UAE	197 
11.5.6.2.1	Booming energy & power sector to contribute to market growth	197 
11.5.6.2.2	By end-user industry	198 
TABLE 173	UAE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	198 
TABLE 174	UAE: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	198 
11.5.6.3	QATAR	199 
11.5.6.3.1	Increasing construction activities to boost demand for cryogenic equipment	199 
11.5.6.3.2	By end-user industry	199 
TABLE 175	QATAR: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	199 
TABLE 176	QATAR: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	200 
11.5.6.4	Rest of Middle East	200 
11.5.6.4.1	By end-user industry	201 
TABLE 177	REST OF MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	201 
TABLE 178	REST OF MIDDLE EAST: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	201 
11.6	AFRICA	201 
11.6.1	RECESSION IMPACT ON MARKET IN AFRICA	202 
11.6.2	BY EQUIPMENT	202 
TABLE 179	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	202 
TABLE 180	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	202 
11.6.3	BY CRYOGEN	203 
TABLE 181	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	203 
TABLE 182	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	203 
11.6.4	BY END-USER INDUSTRY	204 
TABLE 183	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	204 
TABLE 184	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	204 
11.6.5	BY SYSTEM TYPE	204 
TABLE 185	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	204 
TABLE 186	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	205 
11.6.6	BY COUNTRY	205 
TABLE 187	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	205 
TABLE 188	AFRICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	205 
11.6.6.1	South Africa	206 
11.6.6.1.1	Shipbuilding, electronics, and chemical industries to contribute to market growth	206 
11.6.6.1.2	By end-user industry	206 
TABLE 189	SOUTH AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	206 
TABLE 190	SOUTH AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	206 
11.6.6.2	Nigeria	207 
11.6.6.2.1	Increasing demand for LNG and nitrogen from oil & gas and shipping industries to fuel market growth	207 
11.6.6.2.2	By end-user industry	207 
TABLE 191	NIGERIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	207 
TABLE 192	NIGERIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	208 
11.6.6.3	Algeria	208 
11.6.6.3.1	Upcoming offshore projects to drive demand for cryogenic equipment	208 
11.6.6.3.2	By end-user industry	209 
TABLE 193	ALGERIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	209 
TABLE 194	ALGERIA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	209 
11.6.6.4	Rest of Africa	209 
11.6.6.4.1	By end-user industry	210 
TABLE 195	REST OF AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	210 
TABLE 196	REST OF AFRICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	210 
11.7	SOUTH AMERICA	211 
11.7.1	RECESSION IMPACT ON MARKET IN SOUTH AMERICA	211 
11.7.2	BY EQUIPMENT	211 
TABLE 197	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2018–2022 (USD MILLION)	211 
TABLE 198	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY EQUIPMENT, 2023–2028 (USD MILLION)	212 
11.7.3	BY CRYOGEN	212 
TABLE 199	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2018–2022 (USD MILLION)	212 
TABLE 200	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY CRYOGEN, 2023–2028 (USD MILLION)	212 
11.7.4	BY END-USER INDUSTRY	213 
TABLE 201	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	213 
TABLE 202	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	213 
11.7.5	BY SYSTEM TYPE	213 
TABLE 203	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2018–2022 (USD MILLION)	213 
TABLE 204	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY SYSTEM TYPE, 2023–2028 (USD MILLION)	214 
11.7.6	BY COUNTRY	214 
TABLE 205	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2018–2022 (USD MILLION)	214 
TABLE 206	SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY COUNTRY, 2023–2028 (USD MILLION)	214 
11.7.6.1	Brazil	215 
11.7.6.1.1	Energy transition and oil production from offshore sources to drive market	215 
11.7.6.1.2	By end-user industry	215 
TABLE 207	BRAZIL: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	215 
TABLE 208	BRAZIL: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	216 
11.7.6.2	Argentina	216 
11.7.6.2.1	Reviving oil & gas sector to bring opportunities for cryogenic equipment providers	216 
11.7.6.2.2	By end-user industry	217 
TABLE 209	ARGENTINA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	217 
TABLE 210	ARGENTINA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	217 
11.7.6.3	Venezuela	217 
11.7.6.3.1	Stabilization in oil prices and development of offshore reserves to drive market	217 
11.7.6.3.2	By end-user industry	218 
TABLE 211	VENEZUELA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	218 
TABLE 212	VENEZUELA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	218 
11.7.6.4	Rest of South America	219 
11.7.6.4.1	By end-user industry	219 
TABLE 213	REST OF SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2018–2022 (USD MILLION)	219 
TABLE 214	REST OF SOUTH AMERICA: CRYOGENIC EQUIPMENT MARKET, BY END-USER INDUSTRY, 2023–2028 (USD MILLION)	220 
12	COMPETITIVE LANDSCAPE	221 
12.1	OVERVIEW	221 
TABLE 215	STRATEGIES ADOPTED BY KEY PLAYERS	221 
12.2	MARKET SHARE ANALYSIS, 2022	222 
TABLE 216	CRYOGENIC EQUIPMENT MARKET: DEGREE OF COMPETITION	223 
FIGURE 52	MARKET SHARE ANALYSIS, 2022	223 
12.3	MARKET EVALUATION FRAMEWORK, 2018–2023	224 
TABLE 217	MARKET EVALUATION FRAMEWORK, 2018–2022	224 
12.4	SEGMENTAL REVENUE ANALYSIS, 2018–2022	225 
FIGURE 53	SEGMENTAL REVENUE ANALYSIS, 2018–2022	225 
12.5	COMPETITIVE SCENARIOS AND TRENDS	226 
12.5.1	DEALS	226 
TABLE 218	CRYOGENIC EQUIPMENT MARKET: DEALS, 2018–2023	226 
12.5.2	OTHERS	228 
TABLE 219	CRYOGENIC EQUIPMENT MARKET: OTHERS, 2018–2023	228 
12.6	COMPANY EVALUATION MATRIX (KEY PLAYERS), 2022	229 
12.6.1	STARS	229 
12.6.2	EMERGING LEADERS	229 
12.6.3	PERVASIVE PLAYERS	229 
12.6.4	PARTICIPANTS	229 
FIGURE 54	CRYOGENIC EQUIPMENT MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2022	230 
12.6.5	COMPANY FOOTPRINT (KEY PLAYERS)	231 
TABLE 220	EQUIPMENT: COMPANY FOOTPRINT (KEY PLAYERS)	231 
TABLE 221	CRYOGEN: COMPANY FOOTPRINT (KEY PLAYERS)	232 
TABLE 222	END-USER INDUSTRY: COMPANY FOOTPRINT (KEY PLAYERS)	233 
TABLE 223	SYSTEM TYPE: COMPANY FOOTPRINT (KEY PLAYERS)	234 
TABLE 224	REGION: COMPANY FOOTPRINT (KEY PLAYERS)	235 
12.7	COMPANY EVALUATION MATRIX (OTHER PLAYERS), 2022	236 
12.7.1	STARS	236 
12.7.2	EMERGING LEADERS	236 
12.7.3	PERVASIVE PLAYERS	236 
12.7.4	PARTICIPANTS	236 
FIGURE 55	CRYOGENIC EQUIPMENT MARKET: COMPANY EVALUATION MATRIX (OTHER PLAYERS), 2022	237 
12.7.5	COMPANY FOOTPRINT (OTHER PLAYERS)	237 
TABLE 225	EQUIPMENT: COMPANY FOOTPRINT (OTHER PLAYERS)	237 
TABLE 226	CRYOGEN: COMPANY FOOTPRINT (OTHER PLAYERS)	238 
TABLE 227	END-USER INDUSTRY: COMPANY FOOTPRINT (OTHER PLAYERS)	238 
TABLE 228	SYSTEM TYPE: COMPANY FOOTPRINT (OTHER PLAYERS)	238 
TABLE 229	REGION: COMPANY FOOTPRINT (OTHER PLAYERS)	239 
  
13	COMPANY PROFILES	240 
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) * 
13.1	KEY PLAYERS	240 
13.1.1	LINDE PLC	240 
TABLE 230	LINDE PLC: COMPANY OVERVIEW	240 
FIGURE 56	LINDE PLC: COMPANY SNAPSHOT	241 
TABLE 231	LINDE PLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED	242 
TABLE 232	LINDE PLC: DEALS	242 
TABLE 233	LINDE PLC: OTHERS	245 
13.1.2	AIR LIQUIDE	247 
TABLE 234	AIR LIQUIDE: COMPANY OVERVIEW	247 
FIGURE 57	AIR LIQUIDE: COMPANY SNAPSHOT	248 
TABLE 235	AIR LIQUIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED	248 
TABLE 236	AIR LIQUIDE: DEALS	249 
TABLE 237	AIR LIQUIDE: OTHERS	249 
13.1.3	AIR PRODUCTS AND CHEMICALS, INC.	251 
TABLE 238	AIR PRODUCTS AND CHEMICALS, INC.: COMPANY OVERVIEW	251 
FIGURE 58	AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT	252 
TABLE 239	AIR PRODUCTS AND CHEMICALS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	252 
TABLE 240	AIR PRODUCTS AND CHEMICALS, INC.: DEALS	253 
TABLE 241	AIR PRODUCTS AND CHEMICALS, INC.: OTHERS	254 
13.1.4	CHART INDUSTRIES	256 
TABLE 242	CHART INDUSTRIES: COMPANY OVERVIEW	256 
FIGURE 59	CHART INDUSTRIES: COMPANY SNAPSHOT	257 
TABLE 243	CHART INDUSTRIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED	257 
TABLE 244	CHART INDUSTRIES: DEALS	260 
TABLE 245	CHART INDUSTRIES: OTHERS	263 
13.1.5	PARKER HANNIFIN CORP	265 
TABLE 246	PARKER HANNIFIN CORP.: COMPANY OVERVIEW	265 
FIGURE 60	PARKER HANNIFIN CORP.: COMPANY SNAPSHOT	266 
TABLE 247	PARKER HANNIFIN CORP.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	266 
13.1.6	FLOWSERVE CORPORATION	268 
TABLE 248	FLOWSERVE CORPORATION: COMPANY OVERVIEW	268 
FIGURE 61	FLOWSERVE CORPORATION: COMPANY SNAPSHOT	269 
TABLE 249	FLOWSERVE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	270 
13.1.7	NIKKISO CO., LTD.	271 
TABLE 250	NIKKISO CO., LTD.: COMPANY OVERVIEW	271 
FIGURE 62	NIKKISO CO., LTD.: COMPANY SNAPSHOT	272 
TABLE 251	NIKKISO CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	272 
13.1.8	INOX INDIA LIMITED	274 
TABLE 252	INOX INDIA LIMITED: COMPANY OVERVIEW	274 
TABLE 253	INOX INDIA LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED	274 
TABLE 254	INOX INDIA LIMITED: DEALS	275 
TABLE 255	INOX INDIA LIMITED: OTHERS	276 
13.1.9	TAYLOR-WHARTON	277 
TABLE 256	TAYLOR-WHARTON: COMPANY OVERVIEW	277 
TABLE 257	TAYLOR-WHARTON: PRODUCTS/SOLUTIONS/SERVICES OFFERED	277 
TABLE 258	TAYLOR-WHARTON: DEALS	279 
13.1.10	EMERSON ELECTRIC CO.	280 
TABLE 259	EMERSON ELECTRIC CO.: COMPANY OVERVIEW	280 
FIGURE 63	EMERSON ELECTRIC CO.: COMPANY SNAPSHOT	281 
TABLE 260	EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	281 
TABLE 261	EMERSON ELECTRIC CO.: DEALS	282 
13.1.11	WESSINGTON CRYOGENICS	283 
TABLE 262	WESSINGTON CRYOGENICS: COMPANY OVERVIEW	283 
TABLE 263	WESSINGTON CRYOGENICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED	283 
13.1.12	SULZER LTD	286 
TABLE 264	SULZER LTD: COMPANY OVERVIEW	286 
FIGURE 64	SULZER LTD: COMPANY SNAPSHOT	287 
TABLE 265	SULZER LTD: PRODUCTS/SOLUTIONS/SERVICES OFFERED	287 
13.1.13	PHPK TECHNOLOGIES	288 
TABLE 266	PHPK TECHNOLOGIES: COMPANY OVERVIEW	288 
TABLE 267	PHPK TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED	288 
13.1.14	ACME CRYO.	290 
TABLE 268	ACME CRYO.: COMPANY OVERVIEW	290 
TABLE 269	ACME CRYO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	290 
TABLE 270	ACME CRYO.: DEALS	292 
13.1.15	SHI CRYOGENICS GROUP	293 
TABLE 271	SHI CRYOGENICS GROUP: COMPANY OVERVIEW	293 
TABLE 272	SHI CRYOGENICS GROUP: PRODUCTS/SOLUTIONS/SERVICES OFFERED	293 
TABLE 273	SHI CRYOGENICS GROUP: DEALS	294 
13.2	OTHER PLAYERS	295 
13.2.1	FIVES SAS	295 
13.2.2	CRYOFAB	296 
13.2.3	HEROSE GMBH	296 
13.2.4	CRYOSTAR	297 
13.2.5	SHELL-N-TUBE	297 
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies. 
  
14	APPENDIX	298 
14.1	INSIGHTS FROM INDUSTRY EXPERTS	298 
14.2	DISCUSSION GUIDE	299 
14.3	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	304 
14.4	CUSTOMIZATION OPTIONS	306 
14.5	RELATED REPORTS	306 
14.6	AUTHOR DETAILS	307 |