According to the report published by Allied Market Research, the global cryogenic fuels market generated $105.6 billion in 2020, and is expected to garner $188.7 billion by 2030, witnessing a CAGR of 6.1% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Development of carbon capture technologies, surge in number of M&A activities in the industrial gases industry, and implementation of the rapid surface chilling process for the food industry drive the growth of the global cryogenic fuels market. However, requirement of high initial investment for setting up cryogenic plant for large-scale production restrains the market growth. On the other hand, surge in number of space and satellite missions creates new opportunities in the coming years.
Download Report Sample (314 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/2977
The report offers detailed segmentation of the global cryogenic fuel market based on type, end-use industry, and region.
Based on type, the liquid air segment contributed to the highest share in 2020, accounting for more than two-fifths of the total share, and is expected to maintain its lead position during the forecast period. However, the liquid hydrogen segment is projected to manifest the largest CAGR of 6.6% from 2021 to 2030.
Based on end-use industry, the manufacturing segment accounted for the highest share in 2020, contributing to more than half of the global cryogenic fuels market, and is expected to continue its leadership status during the forecast period. Moreover, this segment is projected to register the fastest CAGR of 6.5% from 2021 to 2030. The research also analyzes the segments including energy, aerospace, biomedical & healthcare, chemical, and others.
For Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/2977
Based on region, Asia-Pacific contributed to the largest share in 2020, holding for nearly two-fifths of the total share, and is projected to continue its dominant share by 2030. Moreover, this region is projected to portray the highest CAGR of 6.6% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global cryogenic fuels market analyzed in the research include Air Liquide, Air Water, Inc., Air Products & Chemicals, Maine Oxy, Gulf Cryo, Mitsubishi Chemical Holdings (Taiyo Nippon Sanso), Messer Group GmbH, Linde Plc (Praxair Technology, Inc.), Narco Inc., and SOL Group.
Get detailed COVID-19 impact analysis on the Cryogenic Fuels Market @ https://www.alliedmarketresearch.com/request-for-customization/2977?reqfor=covid
- Owing to lockdown measures implemented across many countries, manufacturing and space exploration activities halted. This led to the reduced demand for cryogenic fuels across the world.
- As per the United Nations Industrial Development Organization (UNIDO), the micro, small & medium enterprises (MSME) sector in developing countries such as India has been impacted due to the Covid-19 outbreak and the lockdown measures. This led to reduced demand for cryogenic fuels from various end-use industries including automotive, building & construction, chemicals, and aerospace.
- The demand for liquid air has been affected during the lockdown. The construction activities were stopped and there have been reduction in demand of liquid air such as argon and hydrogen for welding purposes in construction. However, the demand for oxygen for inhalation and resuscitation therapy increased from the medical sector.
Key findings of the study
- In 2020, Asia-Pacific dominated the global cryogenic fuels market with around 37.0% share, in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 6.6% in terms of value.
- The liquid air segment dominated the global cryogenic fuels market with around 41.2% of the share in terms of revenue.
- The liquid hydrogen segment is projected to grow at the highest CAGR of 6.6% in terms of revenue.
- The manufacturing segment dominated the global cryogenic fuels market with around 53.1% of the share in terms of revenue. In addition, it is also projected to grow at the highest CAGR of 6.5% in terms of value.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumaris instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.