Asia Pacific Cryogenic Pump Market Projected to Garner Significant Revenues by 2027

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Driving factors such as the increasing industrialization, positive economic growth, and increasing demands for liquefied natural gas are boosting the growth of the . Further, the increase in the adoption of renewable energy sources is anticipated to facilitate significant growth opportunities for the cryogenic pump market. The emerging smart cities and infrastructural development across developing countries such as India and China have been creating excessive opportunities in the market. The implementation of green industrialization and the use of renewable energy has been promoted by developed countries. In this era of modernization, the effective use of energy has been rising for efficiency and productivity. Smart cites technologies has gained momentum around the globe and set for rapid transformation. It also includes intelligent transport systems, smart waste management, and robust information technology that will improve the quality of living, employment opportunities and urban services. Thereby, cryogenic pump would be gaining potential.

The Asia Pacific Cryogenic Pump market is growing along with the Electronics and Semiconductor industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.

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China dominated the cryogenic pump market in 2018 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. China is one of the major countries which has significant market share in the electronics and semiconductor industry. The manufacturers in this country are highly focusing on strengthening their capabilities in the fields of materials, components, and equipment. Here, government support plays a major role in boosting the Chinese electronics and semiconductor industry. Moreover, China is one step ahead of South Korea with respect to fabless manufacturing. China has a giant number of semiconductor firms that are involved in the design of semiconductor products. The semiconductor market in the country is driven by high demand observed among the users for consumer electronics. Thus, the industry is supporting the growth of the cryogenic pump market in the country.

These factors are expected to offer broad growth opportunities in the Electronics and Semiconductor industry and this is expected to cause the demand for Asia Pacific Cryogenic Pump in the market.

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Asia Pacific Cryogenic Pump Market – MARKET SEGMENTATION

By Type

  • Centrifugal
  • Positive Displacement

By Gas

  • Nitrogen
  • Oxygen
  • LNG
  • Argon
  • Others

By Industry Vertical

  • Electronics
  • Healthcare and Pharmaceutical
  • Energy & Power
  • Metallurgy
  • Chemical
  • Others

By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

Cryogenic pump Market – Companies Mentioned

  • Atlas Copco AB
  • Elliott Group
  • Flowserve Corporation
  • Fives
  • Linde AG
  • NIKKISO CO., LTD.
  • PHPK Technologies
  • Ruhrpumpen Group
  • SEHWA TECH, INC.
  • Sumitomo Heavy Industries, Ltd.

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