The Asia Pacific cryogenic equipment market is expected to be valued at USD 5.32 billion in 2025 and USD 8.72 billion by 2030, exhibiting a CAGR of 10.4% during the forecast period.
The Asia Pacific cryogenic equipment market is growing due to rapid industrialization, increased energy demand, and major investments in LNG infrastructure in China, India, Australia, and South Korea. The growing demand for cryogenic storage and transportation mechanisms is due to the increased application of industrial gases in the metallurgy sector, health industry, electronics, and food production. The expansion of renewable energy, hydrogen, and semiconductor manufacturing contributes to the growth of the industry. Moreover, the policies of sustainable energy and more healthcare, as well as the growth of space and aerospace programs, fuel the demand for advanced cryogenic equipment in the region.
Asia Pacific Cryogenic Equipment Market Size & Forecast:
- Market Size Available for Years: 2020–2030
- 2025 Market Size: USD 5.32 billion
- 2030 Projected Market Size: USD 8.72 billion
- CAGR (2025–2030): 10.4%
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“Storage systems segment is expected to capture a major market share in 2030”
The storage systems segment is the highest in Asia Pacific cryogenic equipment market since large capacity cryogenic tanks, dewars, and pressure vessels are vital to the safe storage of LNG, hydrogen, oxygen, nitrogen, as well as other industry gases at low temperatures. These systems form the LNG terminal, hydrogen hub, and industrial gas reserves, critical infrastructure, which provides the energy, industrial, and healthcare industries with long-term storage and supply reliability. Their largest market share is caused by the fact that they are indispensable to both their production and end-use plants.
“Electronics segment is projected to exhibit the highest CAGR between 2025 and 2030”
In the Asia Pacific cryogenic equipment market, the electronics end-use industry segment is expanding at the fastest rate due to the rapid growth of semiconductor manufacturing and advanced electronics production, which needs accurate cooling with cryogenics and gas manipulation. Cryogenic technologies are used in supporting semiconductor fabrication, testing, and superconducting electronics through ultra-low temperatures that can increase performance and yield. Increased investments in high-tech electronics in China, Taiwan, South Korea, and India are increasing the demand for cryogenic solutions in this industry.
“China is likely to account for a significant share of the Asia Pacific cryogenic equipment market in 2025”
China is the largest nation in the Asia Pacific cryogenic equipment market since its large manufacturing base and heavy industry demand significant amounts of industrial gases and cryogenic systems. It is also the largest LNG importer, making it necessary to make massive investments in storage, regasification, and transport infrastructure, which require sophisticated cryogenic equipment. Moreover, the low-temperature technologies are also demanded in power, chemicals, and industrial industries because of the strategic energy transformation plans of China, such as the development of hydrogen and clean energy. This dominant position is further supported by strong and effective government patronage and a high rate of urbanization.
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Key Market Players
The report profiles key players, such as Air Liquide (France), Linde plc (Ireland), Chart Industries (US), Cryofab Inc. (US), and Taylor-Wharton (US).