The report “Nitrogen Cryogenic Equipment Market – Forecast to 2030” is projected to grow from USD 4.14 billion in 2025 and to reach USD 6.20 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.4% during the forecast period.
The nitrogen cryogenic equipment is experiencing increased demand in North America, Europe, and the Asia Pacific as more industries adopt the use of nitrogen. Nitrogen is commonly applied in energy and power in purging and LNG processes. The controlled atmospheres and heat treatment in metallurgy depend on nitrogen. The fast growth in electronics and semiconductor production, particularly in the Asia Pacific and North America, is the force behind the need to store nitrogen in high purity. Nitrogen is used for blanketing and safety in the chemical industry. The expansion of transport, such as LNG- and hydrogen-powered mobility, and increased automation in industry, also sustains the growth of the market in the region.
Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=202004915
“Vaporizers are expected to form the second-fastest equipment segment during the forecast period.”
Vaporizers form the second-largest segment of the nitrogen cryogenic equipment market (by equipment type). The trend is anticipated to expand the on-site conversion of liquid nitrogen to gaseous nitrogen in industries, resulting in a high rate of growth. Electronics, chemicals, metallurgy, and energy facilities need a constant, regulated supply of nitrogen, and this demand results in the need to have efficient ambient and heated vaporizers. LNG infrastructure development and industrial gas distribution systems are additional positive factors that facilitate adoption.
“Energy and power form the largest segment of the end-use industry market.”
This is mainly because the energy and power segment has been the most dominant, with the use of nitrogen to inert, purge, pressure test, and manage the safety of power plants, LNG terminals, pipelines, and storage plants. Nitrogen is non-reactive and therefore critical in preventing explosions and corrosion. Due to large-scale energy infrastructure, round-the-clock operational needs, and stringent safety standards, the need to store and vaporize nitrogen has developed a long-term presence in this segment of the market.
Make an Inquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=202004915
Key Market Players
The report profiles key players, including Linde plc (Ireland), Chart Industries (US), Parker Hannifin Corporation (US), Air Products and Chemicals, Inc. (US), and INOX India Limited (India).