Cryogenic Equipment Market is Projected to Reach $17.1 Billion by 2025 | Leading key players are Linde plc, Chart Industries, Parker Hannifin, Flowserve Corporation, Emerson, Air Products, INOXCVA

According to the new market research report "Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping, and Others), and Region - Global forecast to 2025" the Cryogenic Equipment Market is projected to reach USD 17.1 billion by 2025 from an estimated USD 12.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Increasing demand for industrial gases and investments in LNG infrastructure is driving the Cryogenic Equipment Market. Moreover, the increasing demand for industrial gases from cryogenic energy storage and cryoelectronics manufacturing is likely to bring opportunities for the Cryogenic Equipment Market.

The vaporizer segment is expected to grow at the highest CAGR from 2020 to 2025.

Cryogenic vaporizers are used for high volume vaporization and regasification of industrial gases like LNG to release them in a controlled flow. The various types of vaporizers are ambient vaporizers, water bath vaporizers, shell and tube vaporizers, electric vaporizers, and well service vaporizers. Industries like metallurgy and chemicals are observing increasing consumption for industrial gases. For this, the industries have to set up air separation units at their manufacturing sites. These air separation units involve different types of vaporizers for converting the cryogenic liquid back into gaseous form for end-use purposes. These factors have increased the demand for vaporizers.

Browse in-depth TOC on "Cryogenic Equipment Market"

119 – Tables

34 – Figures  

169 – Pages

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The Nitrogen segment is expected to lead the global Cryogenic Equipment Market during the forecast period.

Nitrogen is mostly used in industries like energy & power for enhanced oil recovery. It is mostly used in fertilizer and chemical industries. Fertilizer is the major consumer of nitrogen. In 2019, According to the National Center for Biotechnology Information, every year, 50 million tons of nitrogen are produced. This growth rate stimulated the demand for equipment to handle and manage the Nitrogen. However, the cryogen equipment market for nitrogen is mature; thus, there is a lesser year on year demand for nitrogen handling and cryogenic transportation equipment.

The electronics segment is expected to grow at the highest CAGR in the global Cryogenic Equipment Market during the forecast period.

Cryogenics has vast applications in the electronics industry. Cryogenic processing extends the life of the circuit boards. They are also employed in switching devices, semiconductor, and superconductor devices since low temperature decreases the resistance of materials. Cryogenic milling and freezer grinding are some of the other processes that happen in the electronic industry. Cryogenic equipment such as semiconductor grade vaporizers and tanks are commonly used. Increasing the construction of air separation units for the electric industry is likely to drive the Cryogenic Equipment Market during the forecast period.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Cryogenic Equipment Market.

Some of the key players are Linde plc (Ireland), Chart Industries (US), Air Products (US), INOXCVA (India), Taylor Wharton (Japan), and Cryofab (US). The leading players are adopting various strategies to increase their share in the Cryogenic Equipment Market. Contracts & agreements, and mergers & acquisitions have been a widely adopted strategy by the major players in the Cryogenic Equipment Market.

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Cryogenic Pump Market by Type (Centrifugal, Positive Displacement), by Gas (Nitrogen, Oxygen, Argon, LNG, and Others), by End-User (Energy & Power, Chemicals, Metallurgy, Electronics, and Others), & by Region - Global Trends & Forecasts to 2021

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Gas Insulated Transformer Market is Projected to Reach $3.45 Billion by 2023 | Leading key players are ABB, GE, Mitsubishi Electric, Siemens, Toshiba, Arteche

The report "Gas Insulated Transformer Market by Type (Instrument Transformer, Others), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Installation (Outdoor, Indoor), End-User (Utility, Industrial, Commercial), and Region - Global Forecast to 2023", The gas insulated transformer market is expected to grow from USD 2.75 Billion in 2018 to USD 3.45 Billion by 2023, at a CAGR of 4.61% between 2018 and 2023. The market is set to witness growth due to factors such as no risk of oil leakage and space constraints in densely populated urban areas. Also, government initiatives toward improving electrification rate and rising transmission & distribution investments are further expected to drive the gas insulated transformer market.   

                                                                           

Browse 69 market data Tables and 43 Figures spread through 138 Pages and in-depth TOC on "Gas Insulated Transformer Market by - Global Forecast to 2023"

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Utility segment to hold largest share of gas insulated transformer market during forecast period

The utility segment is expected to hold the largest share of the gas insulated transformer market during the forecast period. Power utilities are major suppliers of electricity to factories, commercial establishments, and homes. The projected growth of the market for this segment market during the forecast period is attributed to the growing demand for reliable power supply and rise in urbanization that has led to increasing investments in the power infrastructure. This is expected to lead to the development of transmission and distribution infrastructure, which, in turn, will increase the demand for gas insulated substations and installation of gas insulated transformers.

Gas insulated transformer market for indoor installation to grow at higher CAGR during forecast period

The market for the indoor installation is expected to grow at the higher CAGR during the forecast period. Gas insulated transformers are non-flammable, non-explosive, and have compact design which makes them ideal preference for installations in underground and indoor substations in urban areas. The increase in renewable power generation, combined with the demand for reliable power sources, and the rise in urbanization support the growth of the market for indoor installation of gas insulated transformers.

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Instrument transformers to hold largest share of gas insulated transformer market during forecast period.

The instrument transformers are expected to dominate the gas insulated transformer market with the largest size and the highest CAGR during the forecast period. Instrument transformers are electrical machines that use the electromagnetic properties of alternating currents and ferromagnetic materials to produce voltage and current at different levels from those received as input. They are mainly used for measuring, protecting, and controlling circuits in substations and switchyards. The growth of the market for instrument transformers is attributed to the refurbishment of aging power infrastructure and huge investments in smart grids and energy systems.

Asia Pacific: Key market for gas insulated transformer market during the forecast period.

In this report, the gas insulated transformer market has been analyzed with respect to four regions Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes regions such as South America, and the Middle East and Africa. Asia Pacific is expected to account for the largest share of the global gas insulated transformer market by 2018, and this trend is projected to continue till 2023. Almost all the countries in the region are augmenting their power generation capacities. India, China, and Indonesia are investing heavily in renewable electricity generation projects, thereby driving the growth of the gas insulated transformer market in Asia Pacific.

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To provide in-depth analysis of the competitive landscape, the report includes the profiles of some of the key players in the gas insulated transformer market, which include ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Global Drilling and Completion Fluids Market 2018 – Challenges, Drivers, Outlook, Growth Opportunities – Analysis to 2023

The report "Drilling and Completion Fluids Market by Application (Onshore and Offshore), Fluid System (Water-Based System, Oil-Based System, Synthetic-Based System), Well Type (Conventional and HPHT), and Region - Global Forecast to 2023", the drilling and completion fluids market are projected to reach USD 12.76 billion by 2023 from USD 9.62 billion in 2018, at a CAGR of 5.82%. The growth in this market is supported mainly by the increasing onshore and offshore drilling activities and the rising shale gas exploration. Drilling and completion fluids are essential for any onshore or offshore drilling activities. These fluids facilitate the drilling process by suspending cuttings, controlling pressure, stabilizing the exposed rock, and by providing buoyancy, cooling & lubrication.

Browse 79 market data Tables and 36 Figures spread through 135 Pages and in-depth TOC on "Drilling and Completion Fluids Market - Global Forecast to 2023"

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The onshore segment will continue to lead the drilling and completion fluids market, by application, during the forecast period

The drilling and completion fluids market are segmented by application into onshore and offshore. The onshore segment accounted for the largest share of the drilling and completion fluids market in 2018. The number of wells drilled onshore drastically increased in 2018 compared with 2017. The onshore application segment is expected to dominate the drilling and completion fluids market as the majority of global oil & gas reserves are present onshore. The increasing use of drilling fluids in the hard rock drilling process is expected to boost the onshore applications market for drilling and completion fluids.

The water-based fluid system is the fastest-growing segment of the drilling and completion fluids market, by fluid system

The fluid system segments the drilling and completion fluids market into water-based, oil-based, synthetic-based, and others. The water-based fluid system segment led the drilling and completion fluids market in 2018 and is expected to continue its market dominance during the forecast period. Water-based fluid systems are suitable for onshore and offshore drilling activities. These fluids are cost-effective and eco-friendly compared with the other types of fluids. The discharge policies for water-based fluids are also not very stringent across the world as they contain less toxic chemicals. These factors are driving the water-based fluid system market.

North America will continue to dominate the drilling and completion fluids market through 2023

The drilling and completion fluids market have been segmented by region into North America, Europe, Asia Pacific, South America, the Middle East, and Africa. In 2018, North America accounted for the largest market share in the drilling & completion fluids market, followed by Europe and the Middle East. The US dominates the North American drilling and completion fluids market because of the increasing drilling activities taking place in the country. Factors such as the growing drilling activities and rising exploration of shale gas reserves are driving the growth of the market in the region.

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The drilling and completion fluids market is influenced by a few leading players, such as BHGE (US), Halliburton (US), Schlumberger (US), Newpark Resources (US), and Tetra Technologies (US), because of the initiatives taken by these industry participants related to product developments, product launches, and contracts & agreements. Market participants such as M-I Swaco (A Schlumberger Company) and Halliburton have a diversified portfolio of drilling fluids coupled with extensive geographic presence. Mergers & acquisitions were the most commonly adopted strategy by the top players. Other players in the market include Tetra Technologies, Inc., National Oilwell Varco, Inc., and Weatherford International plc.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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