Cryogenic Pump Market Trends Report 2022-2027

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Global Cryogenic Pump Market Research Report:

According to the latest report by IMARC Group, titled “ Cryogenic Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20222027

” the global cryogenic pump market reached a strong growth in 2021.

A cryogenic pump refers to a vacuum pump that freezes, traps, and absorbs gases by condensing them on cold surfaces at a very low temperature. It comprises of a diffuser, unit displacer, impellers, etc. A cryogenic pump is manufactured by using special elastomers that are hermetically sealed to avoid leakage. It is commonly available in entrapment, kinetic, and positive displacement pump types designed to move coolants and cryogenic liquids. A cryogenic pump is cost-effective and provides high pumping speed as well as safety against power breakdown and oil contamination. Consequently, it finds extensive applications in several industries, including chemical, electronics, healthcare, etc. In line with this, a cryogenic pump is widely utilized in cooling synchrotron beamline crystals and superconducting cables.

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Global Cryogenic Pump Market Trends :

The escalating demand for gas-based power generation is primarily driving the cryogenic pump market. Additionally, the widespread adoption of liquified petroleum gas or LPG, owing to its safety and efficiency in transportation, is further catalyzing the market growth. Besides this, the growing utilization of cryogenic pumps to create a high vacuum in the proton therapy systems is acting as another significant growth-inducing factor. Moreover, the launch of numerous favorable policies by government bodies across countries to reduce levels of carbon emissions is also positively influencing the global market. Apart from this, the introduction of scroll product variants that are capable of tapping volatile liquids is anticipated to fuel the cryogenic pump market over the forecasted period.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).

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