Austin, June 13, 2025 (GLOBE NEWSWIRE) -- The cryogenic pump market size was valued at USD 2.29 billion in 2024 and is expected to reach USD 3.60 billion by 2032, growing at a CAGR of 5.91% from 2025 to 2032.
The growing Cryogenic Pump Market is propelled by expanding demand for liquefied natural gas transfer, the emergence of green hydrogen pipelines, and the need for reliable low-temperature refrigeration in pharmaceuticals and aerospace. As industries adopt cleaner fuels and advanced cryo processing methods, pump manufacturers are innovating to meet stringent performance standards with enhanced efficiency, safety, and digital monitoring across critical facilities and logistics networks.
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The U.S. cryogenic pump market size was valued at USD 0.46 billion in 2024 and is expected to reach USD 0.81 billion by 2032, growing at a CAGR of 7.24% from 2025 to 2032. New drivers comprise larger small-scale LNG plants deployments, hydrogen refueling infrastructure expansion, expanding biotech storage requirements and accelerating aerospace cold-chain drivers.
Key Players:
- Nikkiso Co Ltd
- Ebara Corporation
- Flowserve Corporation
- Fives Group
- Cryostar SAS
- Vanzetti Engineering
- Cryomec LLC
- Sumitomo Heavy Industries, Ltd.
- Ruhrpumpen Group
- PBS Group
Cryogenic Pump Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 2.29 Billion |
| Market Size by 2032 | USD 3.60 Billion |
| CAGR | CAGR of 5.91% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Increasing Adoption of LNG Cryogenic Pumps for Cleaner Energy Fuels Accelerates Cryogenic Pump Market Growth. • Technological Advancements and Automation in the Cryogenic Pump Industry Enhance Efficiency and Market Expansion. |
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Centrifugal Pumps, LNG Applications, and Oil & Gas Use Drive Cryogenic Pump Market Leadership
By Type
Centrifugal pumps dominate the Cryogenic Pump Market, capturing around 61.28% of the total revenue share in 2024. Due to their efficiency for high-flow, low-pressure services, like as large-scale movement of cryogenic liquids like LNG and liquid oxygen, these pumps enjoy wide popularity. There are also other pumps, but these are preferred due to their simple mechanical design, continuous flow potential, and low operating costs. Increasing adoption of centrifugal cryogenic pumps by energy, manufacturing, and chemical industries for safe and uniform transfer of volatile gases at extremely low temperatures is projected to drive the growth of the centrifugal cryogenic pump market during the forecast period.
By Cryogen Type
The LNG segment emerged as the leading cryogen type in 2024, accounting for over 28% of the total market revenue. Such a stronghold is largely due to the increasing global transition towards natural gas as a transitional clean fuel, particularly in power generation and heavy transport. Liquefied natural gas is increasingly important as countries tighten emissions targets and phase out coal-fired plants. The current growth in the number of LNG terminals, storage, and shipping requires effective cryogenic transfer solutions. Individual LNG Cryogenic pumps, as are used in this segment, play a crucial role in ensuring the liquid stays in a liquid state at very low temperatures.
By End Use
The Oil & Gas segment leads the end-use segmentation of the Cryogenic Pump Market, contributing approximately 18% to the total revenue in 2024. Cryogenic pumps are crucial for the transport and manipulation of liquefied gases in the complete oil and gas value chain. Their application spans upstream and downstream processes for gas recovery and flaring control in upstream; for LNG regasification and subsequent pipeline distribution in midstream, or touchdown refining and petrochemical synthesis. As global demand for natural gas increases, especially for export, the reliance on cryogenic equipment for safe, efficient, and scalable gas transport becomes even more critical
Asia-Pacific Dominates Cryogenic Pump Market While North America Ramps Up LNG & Hydrogen Investments
The Asia Pacific region led the Cryogenic Pump Market by revenue, accounting for around 35.26% of the total market share in 2024. The scale of domination is because large-scale LNG import terminals in China, India, South Korea and Japan are building out their cold chain infrastructures. Furthermore, various recently built petrochemical and fertilizer production plants in southeast Asia recently added cryogenic units to the ammonia and ethylene processing plant units. In addition, the demand is also increasing for cryogenic pumps for hydrogen liquefaction and transport with the pilots towards blending hydrogen in India, and Japan’s motorcycle “H2 Basic Strategy.” To facilitate 24/7 functioning in remote industrial zones and coastal terminals, manufacturers are heading toward partnership within the region along with setting up service centers.
The North America region is anticipated to register a significant CAGR of nearly 5.92% from 2025 to 2032. The growth of the region is fueled in part by an increase in U.S. Gulf Coast export capacity that has been driven by energy independence and free trade policies. Simultaneously federal incentives for hydrogen hubs in Texas and the Midwest created demand for cryogenic equipment. High-precision cryogenic pumps are also needed for the scaled-up aerospace payload delivery systems and cryopreservation facilities for biobank cold storage. Collectively, these drivers are fueling stable investments and localized R&D for safer, digitally controlled and energy-efficient pumps.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cryogenic Pump Market Segmentation, By Type
8. Cryogenic Pump Market Segmentation, By Cryogen Type
9. Cryogenic Pump Market Segmentation, By End Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practice
13. Conclusion
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