The global cryogenic pump market was valued at USD 2.63 billion in 2024 and is projected to reach USD 3.55 billion by 2030, expanding at a CAGR of 5.2% from 2025 to 2030. Market growth is primarily driven by the rising demand for cryogenic pumps across key end-use industries, including oil & gas, metallurgy, electronics, and chemicals. These pumps play a critical role in the safe handling and transportation of cryogenic fluids such as LNG, nitrogen, and oxygen, which are essential to a wide range of industrial and energy-related processes.

Stringent environmental regulations focused on emission reduction and energy efficiency are further accelerating market adoption. In addition, the growing application of cryogenic pumps in renewable energy sectors—particularly hydrogen production, storage, and distribution—is expected to significantly strengthen market prospects. Increased infrastructure investments in emerging economies are also supporting sustained demand for advanced cryogenic pumping solutions.

Market Size and CAGR

• 2024 Market Size: USD 2.63 Billion
• 2030 Projected Market Size: USD 3.55 Billion
• CAGR (2025–2030): 5.2%
• Largest Regional Market (2024): Asia Pacific (36.0% revenue share)

Key Market Trends & Insights

• Asia Pacific accounted for the largest revenue share of 36.0% in 2024.
• China led the Asia Pacific market with the highest revenue contribution in 2024.
• By type, centrifugal pumps dominated the market with a 61.9% revenue share in 2024.
• By cryogen type, LNG accounted for 29.3% of total revenue in 2024.
• By end use, the oil & gas segment held the largest revenue share at 18.2% in 2024.

Technological advancements remain a key contributor to market expansion. The integration of automation and digitalization in pumping systems, along with the development of high-efficiency cryogenic pumps that reduce energy consumption and operational costs, is reshaping industry dynamics. Moreover, the rising emphasis on clean energy initiatives and the expansion of global LNG trade are creating substantial growth opportunities for market participants.

Demand is further supported by the increasing use of LNG as a cleaner alternative fuel, continued expansion of the oil & gas and chemical industries, and heightened focus on environmental sustainability. Reliable and efficient cryogenic pumps are becoming increasingly indispensable for industrial operations requiring precise control of ultra-low-temperature fluids.

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Key Cryogenic Pump Company Insights

The cryogenic pump market is moderately consolidated, with several global players driving innovation and technological advancement.

• Nikkiso Co Ltd is a leading supplier of advanced cryogenic pump solutions, recognized for its strong focus on innovation and reliability across industrial applications.
• Ebara Corporation offers high-performance cryogenic pumps widely used in oil & gas, power generation, and chemical processing industries.
• Flowserve Corporation provides a comprehensive portfolio of cryogenic pumps and is well regarded for its commitment to sustainability and engineering excellence.

Key Cryogenic Pump Companies

• Nikkiso Co Ltd
• Ebara Corporation
• Flowserve Corporation
• Fives Group
• Cryostar SAS
• Vanzetti Engineering
• Cryomec LLC
• Sumitomo Heavy Industries, Ltd.
• Ruhrpumpen Group
• PBS Group, a. s.

Conclusion

The global cryogenic pump market is positioned for steady growth through 2030, supported by rising LNG demand, expanding industrial applications, and increasing investments in clean energy infrastructure. Technological advancements, combined with the growing adoption of hydrogen and renewable energy systems, are expected to create long-term growth opportunities. As environmental regulations tighten and emerging economies continue to invest in industrial and energy infrastructure, demand for efficient, reliable, and technologically advanced cryogenic pumps is likely to remain strong over the forecast period.

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