Cryogenic Pump Market
Cryogenic Pump Market Forecasts to 2030 - Global Analysis By Type (Centrifugal and Positive Displacement), Gas (Oxygen, Argon, Nitrogen and Other Gases), Orientation, Design, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.28 BN |
|
Projected Year Value (2030) |
US $2.0 BN |
|
CAGR (2023 - 2030) |
6.6% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Cryogenic Pump Market is accounted for $1.28 billion in 2023 and is expected to reach $2.0 billion by 2030 growing at a CAGR of 6.6% during the forecast period. A cryogenic pump is a specialized device used to transfer and manipulate extremely cold fluids, typically in the realm of cryogenics, where temperatures drop well below those achievable with conventional refrigeration methods. These pumps are designed to handle liquefied gases, such as nitrogen, oxygen, or helium, which exist at extremely low temperatures. Cryogenic pumps employ various mechanisms, including centrifugal or displacement methods, to draw in and expel these ultra-cold fluids, ensuring efficient and reliable transfer processes for applications like industrial gas processing, medical imaging, and scientific research involving superconductors and low-temperature physics.
According to the World LNG Report 2022, global trade in liquefied natural gas (LNG) set a record high, averaging 51.7 billion cubic feet per day (Bcf/d), a 5% increase compared with 2021.
Market Dynamics:
Driver:
Rising demand for petrochemical
Petrochemical processes such as liquefied natural gas (LNG) production, ethylene and propylene refining, and nitrogen liquefaction rely heavily on cryogenic pumps for the handling, transfer, and processing of liquefied gases at extremely low temperatures. Furthermore, with increasing global demand for petrochemical products driven by population growth, urbanization, and industrialization, the need for efficient and reliable cryogenic pumping solutions is on the rise. As a result, rising demand for petrochemicals is a significant factor driving market demand.
Restraint:
Fluctuations in raw material prices
Cryogenic pumps require specialized materials such as stainless steel, nickel alloys, and high-performance polymers to withstand the extreme temperatures and corrosive properties of cryogenic fluids. However, the fluctuations in steel prices owing to the regulations for greenhouse gas emissions have reduced steel production, leading to inflation in steel prices, which is hampering the production of cryogenic pumps and, in turn, affecting the growth of the cryogenic pump.
Opportunity:
Technological advancements
Technological advancements serve as a key driver in the growth of the cryogenic pump market, continually enhancing the performance, efficiency, and reliability of cryogenic pump systems. Advancements in materials science have led to the development of new alloys and composites with enhanced properties, such as improved resistance to corrosion, thermal conductivity, and mechanical strength. Furthermore, innovations in pump design, such as optimized impeller geometries, enhanced sealing mechanisms, and advanced bearing technologies, contribute to higher efficiency and performance levels.
Threat:
Safety Concerns
Cryogenic pumps handle extremely low-temperature fluids, often at or below -150 degrees Celsius, presenting inherent risks related to the handling, storage, and transportation of cryogenic liquids such as liquid nitrogen, oxygen, and LNG. However, the potential hazards associated with cryogenic fluids include cryogenic burns, as exposure to these ultra-low temperatures can cause severe tissue damage upon contact with skin or other materials.
Covid-19 Impact
The COVID-19 pandemic has had a notable impact on the cryogenic pump market. Initially, the pandemic led to disruptions in global supply chains, causing delays in the manufacturing and delivery of cryogenic pump components and systems. However, the pandemic also highlighted the critical role of cryogenic technology in healthcare, particularly in the storage and distribution of COVID-19 vaccines, many of which require ultra-low temperatures for preservation. This increased focus on healthcare applications may offset some of the market downturn experienced in other sectors.
The centrifugal segment is expected to be the largest during the forecast period
The centrifugal segment is estimated to hold the largest share. Centrifugal pumps play a crucial role in the efficient transfer and handling of liquefied gases at extremely low temperatures. Centrifugal pumps operate by converting mechanical energy from a motor into kinetic energy, which then drives the fluid through the pump's impeller and into a volute casing. Moreover, centrifugal pumps are particularly well-suited for cryogenic applications due to their ability to handle low-viscosity fluids and operate smoothly at high flow rates.
The energy & power segment is expected to have the highest CAGR during the forecast period
The energy & power segment is anticipated to have lucrative growth during the forecast period. Cryogenic pumps find extensive use in power generation facilities, particularly in the cooling and handling of liquid oxygen (LOX) and liquid hydrogen (LH2) for rocket propulsion systems, fuel cells, and gas turbine power plants. Moreover, cryogenic pumps are utilized in energy-intensive industries such as steelmaking and chemical processing for the handling of liquefied gases like nitrogen and argon, which are essential for various industrial processes including cryogenic cooling and purging.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period. The increasing demand for liquefied natural gas (LNG) as a cleaner energy source has led to a rise in cryogenic pump installations across LNG terminals and facilities. Furthermore, the region's growing semiconductor and electronics industries rely on cryogenic pumps for the production of advanced semiconductor devices and superconducting materials, contributing to the market's growth.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period due to the burgeoning demand for liquefied natural gas (LNG) infrastructure, North America's strong presence in industries such as semiconductor manufacturing, aerospace, and research also drives the demand for cryogenic pumps for applications ranging from superconducting material production to space exploration.
Key players in the market
Some of the key players in the Cryogenic Pump Market include Nikkiso Co., Ltd., Sumitomo Heavy Industries Ltd., Ebara Corporation, Huzhou Baihui Cryogenic Equipment Co., Ltd, The Weir Group PLC, Indian Compressors Ltd, Cryostar SAS, SMS Pumps & Engineers, Flowserve Corporation, Brooks Automation Inc., PHPK Technologies Inc., Sulzer, Fives, Trillium Flow Technologies and SHI Cryogenics Group.
Key Developments:
In April 2023, Sulzer and Siemens LDA announced digital collaboration bringing together their respective IoT-platforms and services, BLUE BOX™ and SIDRIVE IQ, the two companies are collaborating to deliver an integrated solution that improves equipment reliability and cuts operations costs.
In December 2022, Sumitomo Heavy Industries, Ltd. announced a strategic collaboration with CoreTech System Co., Ltd. to strengthen the integration between virtual CAE simulation and physical injection molding machines.
In November 2022, Sulzer and Blue Planet deepen collaboration to accelerate decarbonization of concrete and the construction sector. The ground-breaking mineralization process permanently stores carbon emissions captured from heavy industries in aggregate form, which can then be used to produce carbon-negative concrete.
Types Covered:
• Centrifugal
• Positive Displacement
Gases Covered:
• Oxygen
• Argon
• Nitrogen
• Other Gases
Orientations Covered:
• Horizontal
• Vertical
Designs Covered:
• Submersible
• Non-Submersible
End Users Covered:
• Energy & Power
• Electronics
• Metallurgy
• Healthcare
• Pharmaceuticals
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cryogenic Pump Market, By Type
5.1 Introduction
5.2 Centrifugal
5.3 Positive Displacement
6 Global Cryogenic Pump Market, By Gas
6.1 Introduction
6.2 Oxygen
6.3 Argon
6.4 Nitrogen
6.5 Other Gases
7 Global Cryogenic Pump Market, By Orientation
7.1 Introduction
7.2 Horizontal
7.3 Vertical
8 Global Cryogenic Pump Market, By Design
8.1 Introduction
8.2 Submersible
8.3 Non-Submersible
9 Global Cryogenic Pump Market, By End User
9.1 Introduction
9.2 Energy & Power
9.3 Electronics
9.4 Metallurgy
9.5 Healthcare
9.6 Pharmaceuticals
9.7 Other End Users
10 Global Cryogenic Pump Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Nikkiso Co., Ltd.
12.2 Sumitomo Heavy Industries Ltd.
12.3 Ebara Corporation
12.4 Huzhou Baihui Cryogenic Equipment Co., Ltd
12.5 The Weir Group PLC
12.6 Indian Compressors Ltd
12.7 Cryostar SAS
12.8 SMS Pumps & Engineers
12.9 Flowserve Corporation
12.10 Brooks Automation Inc.
12.11 PHPK Technologies Inc.
12.12 Sulzer
12.13 Fives
12.14 Trillium Flow Technologies
12.15 SHI Cryogenics Group
List of Tables
1 Global Cryogenic Pump Market Outlook, By Region (2021-2030) ($MN)
2 Global Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
3 Global Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
4 Global Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
5 Global Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
6 Global Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
7 Global Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
8 Global Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
9 Global Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
10 Global Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
11 Global Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
12 Global Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
13 Global Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
14 Global Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
15 Global Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
16 Global Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
17 Global Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
18 Global Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
19 Global Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
20 Global Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
21 Global Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
22 Global Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
23 North America Cryogenic Pump Market Outlook, By Country (2021-2030) ($MN)
24 North America Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
25 North America Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
26 North America Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
27 North America Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
28 North America Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
29 North America Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
30 North America Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
31 North America Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
32 North America Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
33 North America Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
34 North America Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
35 North America Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
36 North America Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
37 North America Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
38 North America Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
39 North America Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
40 North America Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
41 North America Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
42 North America Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
43 North America Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
44 North America Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
45 Europe Cryogenic Pump Market Outlook, By Country (2021-2030) ($MN)
46 Europe Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
47 Europe Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
48 Europe Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
49 Europe Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
50 Europe Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
51 Europe Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
52 Europe Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
53 Europe Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
54 Europe Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
55 Europe Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
56 Europe Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
57 Europe Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
58 Europe Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
59 Europe Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
60 Europe Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
61 Europe Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
62 Europe Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
63 Europe Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
64 Europe Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
65 Europe Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
66 Europe Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
67 Asia Pacific Cryogenic Pump Market Outlook, By Country (2021-2030) ($MN)
68 Asia Pacific Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
69 Asia Pacific Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
70 Asia Pacific Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
71 Asia Pacific Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
72 Asia Pacific Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
73 Asia Pacific Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
74 Asia Pacific Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
75 Asia Pacific Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
76 Asia Pacific Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
77 Asia Pacific Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
78 Asia Pacific Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
79 Asia Pacific Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
80 Asia Pacific Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
81 Asia Pacific Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
82 Asia Pacific Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
83 Asia Pacific Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
84 Asia Pacific Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
85 Asia Pacific Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
86 Asia Pacific Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
87 Asia Pacific Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
88 Asia Pacific Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
89 South America Cryogenic Pump Market Outlook, By Country (2021-2030) ($MN)
90 South America Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
91 South America Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
92 South America Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
93 South America Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
94 South America Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
95 South America Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
96 South America Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
97 South America Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
98 South America Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
99 South America Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
100 South America Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
101 South America Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
102 South America Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
103 South America Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
104 South America Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
105 South America Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
106 South America Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
107 South America Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
108 South America Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
109 South America Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
110 South America Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
111 Middle East & Africa Cryogenic Pump Market Outlook, By Country (2021-2030) ($MN)
112 Middle East & Africa Cryogenic Pump Market Outlook, By Type (2021-2030) ($MN)
113 Middle East & Africa Cryogenic Pump Market Outlook, By Centrifugal (2021-2030) ($MN)
114 Middle East & Africa Cryogenic Pump Market Outlook, By Positive Displacement (2021-2030) ($MN)
115 Middle East & Africa Cryogenic Pump Market Outlook, By Gas (2021-2030) ($MN)
116 Middle East & Africa Cryogenic Pump Market Outlook, By Oxygen (2021-2030) ($MN)
117 Middle East & Africa Cryogenic Pump Market Outlook, By Argon (2021-2030) ($MN)
118 Middle East & Africa Cryogenic Pump Market Outlook, By Nitrogen (2021-2030) ($MN)
119 Middle East & Africa Cryogenic Pump Market Outlook, By Other Gases (2021-2030) ($MN)
120 Middle East & Africa Cryogenic Pump Market Outlook, By Orientation (2021-2030) ($MN)
121 Middle East & Africa Cryogenic Pump Market Outlook, By Horizontal (2021-2030) ($MN)
122 Middle East & Africa Cryogenic Pump Market Outlook, By Vertical (2021-2030) ($MN)
123 Middle East & Africa Cryogenic Pump Market Outlook, By Design (2021-2030) ($MN)
124 Middle East & Africa Cryogenic Pump Market Outlook, By Submersible (2021-2030) ($MN)
125 Middle East & Africa Cryogenic Pump Market Outlook, By Non-Submersible (2021-2030) ($MN)
126 Middle East & Africa Cryogenic Pump Market Outlook, By End User (2021-2030) ($MN)
127 Middle East & Africa Cryogenic Pump Market Outlook, By Energy & Power (2021-2030) ($MN)
128 Middle East & Africa Cryogenic Pump Market Outlook, By Electronics (2021-2030) ($MN)
129 Middle East & Africa Cryogenic Pump Market Outlook, By Metallurgy (2021-2030) ($MN)
130 Middle East & Africa Cryogenic Pump Market Outlook, By Healthcare (2021-2030) ($MN)
131 Middle East & Africa Cryogenic Pump Market Outlook, By Pharmaceuticals (2021-2030) ($MN)
132 Middle East & Africa Cryogenic Pump Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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