Cryogenic Pumps Market Size to Reach $3.54 billion by 2031, Experiences Growth Due to Growing Demand for Liquefied Natural Gas | The Insight Partners

The report runs an in-depth analysis of market trends, key players, and future opportunities. The Cryogenic Pump Market analysis focuses on a vast array of applications that are expected to determine market strength in the coming years.

/EIN News/ -- US & Canada, May 26, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global Cryogenic Pump Market is observing significant growth owing to increasing demand for liquefied natural gas.

The cryogenic pumps market share is experiencing steady growth due to increasing demand in industries such as healthcare, energy, electronics, and aerospace. These pumps are essential for handling liquefied gases like LNG, nitrogen, oxygen, and helium at extremely low temperatures. Technological advancements and rising investments in LNG infrastructure further drive market expansion. Asia-Pacific dominates the market, followed by North America and Europe.

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Overview of Report Findings

      1.   Market Growth: The Cryogenic Pump Market was valued at US$ 2.42 billion in 2024 and is projected to reach US$ 3.54 billion by 2031; it is expected to register a CAGR of 5.6% during 2025–2031. The global Cryogenic Pump Market is witnessing substantial growth and is estimated to preserve its upward trajectory in the foreseeable future. This growth is attributed to the growing emphasis on the expanding demand for liquefied natural gas. The rising demand for clean energy fuels and renewables is raising at an unprecedented rate. Liquefied natural gas (LNG) is one of the clean energy which fuels with diverse applications. The implementation of LNG has increased significantly as it is highly suitable for power generation and industrial applications, owing to its high efficiency while emitting low carbon emissions. Cryogenic pumps play an important role in the transportation of LNG. For effective transportation, the natural gas is maintained at an extremely low temperature. These pumps have a special design that incorporates special materials, thermal insulation, and sealing that ensures safety and reliability at extreme temperatures. Thus, the adoption of cryogenic pumps is high in the LNG industry.

      2.   Cryogenic pumps play a essential role in the healthcare industry, predominantly in the storage and transportation of medical-grade cryogenic liquids such as nitrogen, liquid oxygen, and helium. Cryogenic liquids are utilized for the preservation of biological samples, including tissues, cells, organs, and vaccines. The development of biopharmaceuticals, remarkably personalized medicine and regenerative therapies, is steering the demand for cryogenic pumps.

      3.   Growing Industrial Investments: Emerging economies in Asia-Pacific, the Middle East, and South America are witnessing rapid industrial growth, which is contributing significantly to the cryogenic pumps market. Industries such as chemicals, metallurgy, food processing, and electronics necessitate cryogenic liquids for cooling, inerting, or other applications.Liquid nitrogen is used in food freezing and packaging.Liquid argon is applied in the production of specialty metals and semiconductors. Cryogenic pumps are significantly utilized in the steel industry for handling gases like argon and oxygen required in the blast furnace process. As construction and infrastructure projects expand in emerging markets, so does the demand for cryogenic piumps. The aerospace and space exploration divisions are increasing rapidly, driven by developments in technology and escalated investments from both government and private entities. Cryogenic pumps are critical for handling cryogenic fuels like liquid hydrogen and liquid oxygen, which are leveraged in rocket propulsion systems. National space agencies like ESA, NASA, ISRO, and CNSA are financing in projects, such as lunar exploration and Mars missions, further boosting the growth of cryogenic pumps market.

      4.   Geographical Insights: In 2024, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.

Market Segmentation

• In terms of type, the market is categorized into centrifugal, positive displacement. The centrifugal segment dominated the market in 2024.
• By design type, the market is categorized into submersible, non-submersible. The submersible segment dominated the market in 2024.
• Based on cryogen, the market is divided into nitrogen, argon, oxygen, LNG, hydrogen, helium, others. The LNG segment dominated the market in 2024.
• Based on industry vertical, the market is divided into electronics and semiconductor, healthcare and pharmaceutical, energy and power, metallurgy, aerospace, chemical, others. The energy and power segment dominated the market in 2024.
• The Cryogenic Pump Market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
  
  

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Competitive Strategy and Development

• Key Players: A few major companies operating in the Cryogenic Pump Market are SHI Cryogenics Group, Fives SAS, Cryostar SAS, Ebara Elliott Energy, CRYOGENIC MACHINERY CORP, Nikkiso Co Ltd, Sulzer Ltd, Ruhrpumpen, Inc., Vanzetti Engineering S.p.A., Trillium US Inc., PHPK Technologies, Technex Limited, Barber-Nichols, Inc., HSR AG, and GemmeCotti Srl.
• Trending Topics: Centrifugal Pump, Posiitve Displacement Pump

Global Headlines on Cryogenic Pump

• Fives announced that it has entered into exclusive negotiations to sell its cryogenics business unit (part of the energy segment in the Process Technologies division) to Alfa Laval, a listed company headquartered in Sweden that specializes in heat transfer, separation, and fluid handling technologies (March-2025).
• Nikkiso Clean Energy & Industrial Gases Group (Group), part of Nikkiso Co. Ltd.’s Industrial Division, announced it will design and manufacture a new hydrogen-pump unit after Nikkiso Co. Ltd. received a first order from Kawasaki Heavy Industries Ltd. for its hydrogen-fueled ship. The hydrogen carrier is expected to enter service in 2028 (April-2025).

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Conclusion

Constant innovation in cryogenic pump technologies is increasing their efficiency, reliability, and performance, which is contributing to market growth. Manufacturers are manufacturing pumps with improved energy efficiency to decrease operational expenditures and environmental impact. Cryogenic pumps with advanced monitoring and control systems, fueled by IoT, facilitate minimize downtime and improve system reliability in critical applications. The utilization of advanced materials that can withstand extreme temperatures and corrosive environments is enhancing the durability and lifespan of cryogenic pumps. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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