Cryogenic Pump Market Updates

Cryogenic Pump Market size was valued at USD 3.89 Million in 2023 and is poised to grow from USD 4.31 Million in 2024 to USD 9.78 Million by 2032, growing at a CAGR of 10.79% during the forecast period (2025-2032).

Key vendors in  Cryogenic Pump Market are: 'Nikkiso Co., Ltd (Japan)', 'SHI Cryogenics Group (Japan)', 'Ebara Corporation (Japan)', 'The Weir Group PLC (Scotland)', 'Fives (France)', 'Sulzer (Switzerland)', 'Flowserve Corporation (U.S.)', 'INOXCVA (India)', 'Cryostar (France)', 'Phpk Technologies (U.S.)', 'Vanzetti Engineering (Italy)'

The cryogenic pump market is growing due to growing emphasis on clean energy solutions. LNG is increasingly being accepted as a fuel option for electrical, industrial processes and transport due to lower carbon footprint compared to conventional fossil fuels. Cryogenic pumps in LNG supply chains are essential and enable the handling, transportation and storage of liquefied gas at a low temperature.

Integration of Automation and IoT in Cryogenic Pumps: The use of automation and Internet of Things (IoT) technologies is a growing trend in the cryogenic pump market. Advanced cryogenic systems equipped with IoT sensors and monitoring tools enable real-time inspection, predictive maintenance, and improved operational efficiency. Automation reduces manual work, reduces operational risk, and ensures accurate control of cryogenic processes.

North America dominates the cryogenic pump market owing to well-placed infrastructure for LNG production, high utilization of industrial gases and aggressive investments in advanced technologies. This dominance is further enhanced by the presence of leading manufacturers such as Cryostar and Atlas Copco, driving innovation and offering advanced cryogenic solutions tailored to industries including healthcare, metallurgy and energy. In addition, there are stringent environmental regulations in North America that make LNG the cleanest fuel. It has been rapidly adopted as a viable option, increasing the demand for cryogenic pumps in the energy sector.