US Cryogenic Equipment Market Research Report By Product Type (Valve, Tank, Vaporizer, Pumps, Others) - Forecast to 2035

US Cryogenic Equipment Market Overview:

As per MRFR analysis, the US Cryogenic Equipment Market Size was estimated at 2.35 (USD Billion) in 2023. The US Cryogenic Equipment Market Industry is expected to grow from 2.75(USD Billion) in 2024 to 5.5 (USD Billion) by 2035. The US Cryogenic Equipment Market CAGR (growth rate) is expected to be around 6.504% during the forecast period (2025 - 2035).

Key US Cryogenic Equipment Market Trends Highlighted

The US Cryogenic Equipment Market is experiencing significant growth driven by the increasing demand for liquefied natural gas (LNG), which has surged due to the US's role as a major LNG exporter. The expansion of the LNG infrastructure, including terminals and pipelines, fosters an environment where cryogenic technologies are essential for storage and transportation processes. Moreover, rising investments in renewable energy and the need for efficient energy storage systems are accelerating the adoption of cryogenic equipment. The healthcare sector is also contributing to this growth, particularly in the area of medical cryogenics, where equipment is used for applications such as cryopreservation and cryosurgery, reflecting an increasing acceptance of cryogenic techniques in medicine.Meanwhile, opportunities within the US market are notable in fields like aerospace, where cryogenic fuel systems are gaining traction for space exploration and satellite launches. Additionally, the potential for new applications in superconducting technologies, which are vital for advances in particle physics and MRI machines, presents avenues for growth. Recent trends show a concerted effort by key players to innovate and enhance efficiency and safety standards in cryogenic equipment, aligning with regulatory requirements that govern the handling and transportation of cryogenic materials. Furthermore, environmental sustainability has become a priority, leading to the development of eco-friendly cryogenic systems that minimize the environmental impact.This increasing focus on sustainable practices, combined with technological advancements, positions the US Cryogenic Equipment Market to capture emerging opportunities while meeting contemporary energy and healthcare needs. As industries continue to evolve, the emphasis on innovative cryogenic solutions will remain a defining trend within the market landscape.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Cryogenic Equipment Market Drivers

Rising Demand in Healthcare Sector

The US Cryogenic Equipment Market Industry is experiencing a significant boost due to the increasing utilization of cryogenic equipment in healthcare, particularly in the storage and transport of biological samples, vaccines, and other medical materials. The National Institutes of Health (NIH) reported that the demand for cryopreserved cells and tissues has risen sharply, with a 30% increase in the last five years alone. This increase is driven by advancements in Research and Development (R&D) for regenerative medicine and increased funding for biomedical research.Established organizations, such as the American Association of Tissue Banks, have noted the critical importance of maintaining proper cryogenic conditions for cellular therapies, further driving the need for enhanced cryogenic equipment in the US. This growing trend emphasizes the vital role that US cryogenic technology plays in healthcare innovation and patient care.

Expansion of the Food and Beverage Industry

The food and beverage sector in the US is expanding rapidly, creating a heightened demand for cryogenic equipment used in freezing and preserving various products. According to the United States Department of Agriculture (USDA), there has been a 15% increase in frozen food sales in the last three years, driven by changing consumer preferences towards convenience foods. This shift has prompted manufacturers to invest in improved cryogenic freezing technologies, thereby supporting the growth of the US Cryogenic Equipment Market Industry.Major food corporations like Tyson Foods and Nestlé USA are constantly seeking advanced cryogenic methods to enhance product quality and shelf life, bolstering market opportunities in this sector.

Advancements in Aerospace and Defense

The aerospace and defense industries in the US are increasingly incorporating cryogenic technology, particularly for rocket propulsion and energy storage applications. The Federal Aviation Administration (FAA) forecasts significant growth in commercial space travel, projected to increase by 28% annually over the next decade. The use of liquid cryogenic fuels, such as liquid oxygen and liquid hydrogen, is essential for achieving the necessary thrust in rocket launches.Organizations like NASA and SpaceX are at the forefront, conducting extensive Research and Development (R&D) to improve cryogenic systems for advanced propulsion technologies. This commitment to innovation in aerospace applications is driving growth in the US Cryogenic Equipment Market Industry, marking it as a pivotal sector for future clarity and operational efficiency.

US Cryogenic Equipment Market Segment Insights:

Cryogenic Equipment Market Product Type Insights

The US Cryogenic Equipment Market has shown significant segmentation within the Product Type category, encompassing various essential components including Valves, Tanks, Vaporizers, Pumps, and others. Valves play a critical role in maintaining the integrity and efficiency of cryogenic systems by controlling the flow of gases and liquids, which is vital for applications in sectors like aerospace, healthcare, and food processing. Tanks are essential for the storage of cryogenic liquids, ensuring safety and compliance with stringent regulations. The importance of Vaporizers remains paramount as they are responsible for converting cryogenic liquids back to gas form before distribution, a process vital for sectors like energy and industrial manufacturing.Pumps are also crucial as they facilitate the movement of cryogenic fluids in various applications, from refrigeration systems to liquefied natural gas (LNG) processing plants. Additionally, the "Others" category encompasses specialized equipment which can cater to unique applications across industries, highlighting the diversity within the US Cryogenic Equipment Market. This segmentation illustrates the varying requirements of the market, driven by advancements in technologies and an increasing demand for efficient and safe cryogenic solutions across various end-use industries.Growth drivers such as the energy sector's expanding reliance on natural gas and the pharmaceutical industry's need for cryogenic storage are elevating the significance of these product types. With ongoing developments in Research and Development, investments in cryogenic technologies are anticipated to further enhance product efficiency and application scope in this evolving market landscape. Consequently, understanding the dynamics within these product segments is vital for key industry players as they navigate opportunities and challenges within the US Cryogenic Equipment Market, thereby contributing to a more profitable and innovative environment.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

US Cryogenic Equipment Market Key Players and Competitive Insights:

The US Cryogenic Equipment Market is characterized by a dynamic landscape influenced by technological advancements and evolving customer needs. Major players are leveraging innovation to enhance product offerings while simultaneously addressing regulatory challenges in the industry. With a focus on efficiency and sustainability, companies are investing in research and development to produce high-performance cryogenic systems, ranging from storage tanks to specialized pumps. Competitive strategies are heavily focused on customer service, operational efficiency, and the capacity to engineer solutions tailored to specific industry requirements, including healthcare, aerospace, and energy sectors. As demand for cryogenic applications rises, competition intensifies, leading to strategic partnerships, mergers, and acquisitions that reshape market dynamics.Ingersoll Rand stands out in the US Cryogenic Equipment Market, recognized for its extensive portfolio and technical expertise. The company has a strong market presence, supported by its established reputation for producing high-quality cryogenic systems that cater to a diverse range of applications. Ingersoll Rand's strengths lie in its innovative solutions and the ability to customize equipment, which positions the company as a reliable partner for its clients. Their focus on sustainable practices and energy-efficient technologies resonates well with market trends, allowing them to meet client demands while adhering to environmental regulations. Furthermore, their robust customer support and after-sales service enhance client satisfaction and foster long-term business relationships.Cryogenic Industries has made a significant impact in the US Cryogenic Equipment Market by offering a range of specialized products and services tailored to the needs of various sectors. The company focuses primarily on designing and manufacturing cryogenic pumps, valves, and systems for gas processing and storage, establishing a strong foothold in the industry. Their strengths lie in their commitment to quality and durability, ensuring that their products perform reliably under extreme conditions. Cryogenic Industries has also pursued strategic alliances and partnerships, enhancing its market position through synergies and combined capabilities. Mergers and acquisitions have allowed the company to expand its technological expertise and product offerings, further solidifying its reputation as a leader in the cryogenic sector. Their comprehensive approach to servicing clients, coupled with their innovative advancements, keeps them competitive in an ever-evolving market landscape.

Key Companies in the US Cryogenic Equipment Market Include:

Ingersoll Rand

Cryogenic Industries

Chart Industries

Beijing Tianhai Industry

Linde

TWS Engineering

Nel ASA

Messer Group

Air Products and Chemicals

American Gas Products

Praxair

Helium One Global

CSM Industries

Cryoab

Universal Cryogenics

US Cryogenic Equipment Market Industry Developments

The US Cryogenic Equipment Market has recently experienced significant developments, particularly in the context of rising demand for liquefied natural gas and other cryogenic applications. In October 2023, Chart Industries announced expansions to its manufacturing capabilities to address the increasing production needs of cryogenic equipment. Additionally, Linde unveiled its new advanced cryogenic storage solutions aimed at optimizing efficiency for key clientele in various sectors. In terms of mergers and acquisitions, Cryogenic Industries was acquired by a consortium led by Ingersoll Rand in September 2023, enhancing its market footprint and product offerings. Nelson ASA has also been gaining traction by investing in Research and Development for next-generation cryogenic storage systems, focusing on sustainability and lower energy consumption. The valuation of major companies in this sector is showing positive growth, with Air Products and Chemicals reporting a 15% increase in market value year-on-year due to increased industrial usage. Over the last few years, the market has seen ongoing advancements, underscored by the awarding of government contracts aimed at supporting research in cryogenic technology, which further solidifies the US's position as a leader in this field.

US Cryogenic Equipment Market Segmentation Insights

Cryogenic Equipment Market Product Type Outlook

Valve

Tank

Vaporizer

Pumps

Others

Report Scope:

Report Attribute/Metric Source:	Details
MARKET SIZE 2018	2.35(USD Billion)
MARKET SIZE 2024	2.75(USD Billion)
MARKET SIZE 2035	5.5(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.504% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Ingersoll Rand, Cryogenic Industries, Chart Industries, Beijing Tianhai Industry, Linde, TWS Engineering, Nel ASA, Messer Group, Air Products and Chemicals, American Gas Products, Praxair, Helium One Global, CSM Industries, Cryoab, Universal Cryogenics
SEGMENTS COVERED	Product Type
KEY MARKET OPPORTUNITIES	Increased LNG exporting facilities, Growing healthcare demand, Expanding aerospace applications, Adoption in research laboratories, Advancements in superconducting technologies
KEY MARKET DYNAMICS	growth in LNG infrastructure, increased demand for medical applications, rising aerospace activities, advancements in cryogenic technology, stringent safety regulations
COUNTRIES COVERED	US