SAN FRANCISCO, April 25, 2016 /PRNewswire/ --
The global cryogenic equipment market is expected to reach USD 25.05 billion by 2022, according to a new report by Grand View Research, Inc. Stringent government initiatives and investments in emerging markets such as Brazil and India are expected to impel the product demand over the forecast period. Shale gas exploration has resulted in high natural gas production, thereby escalating demand in the oil & gas sector. Cryogenic equipment is widely used in LNG storage and transportation. LNG being an extremely low emission fuel is preferred by several regulatory bodies addressing environmental concerns, thereby driving the cryogenic equipment demand.
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Rapid industrialization has led to widespread adoption of this equipment in the metallurgy industry. Development in metal design has resulted in the development of enhanced techniques for handling liquids and is expected to fuel market demand over the forecast period.
Browse full research report with TOC on "Cryogenic Equipment Market Analysis By Product (Tanks, Valves, Pumps & Vaporizers, Vacuum Jacketed Pipes), By Gas (Nitrogen, Oxygen, Argon, Natural Gas), By Application (Distribution, Storage), By End-Use (Oil & Gas, Metallurgy, Electronics, Power & Energy, Food & Beverage, Healthcare, Marine) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/cryogenic-equipment-market
Further key findings from the report suggest:
Grand View Research has segmented the global cryogenic equipment market based on product, gas, application, end-use, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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