Cryogenic Pump Market Report 2026

The cryogenic pump market size has grown strongly in recent years. It will grow from $2.5 billion in 2025 to $2.65 billion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to expansion of industrial gas production, growth in lng transportation and storage, increasing use in power generation, availability of advanced cryogenic pump technologies, rising investments in energy infrastructure.

The cryogenic pump market size is expected to see strong growth in the next few years. It will grow to $3.33 billion in 2030 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing adoption of clean energy fuels, expansion of hydrogen and lng projects, rising demand for efficient cryogenic transfer systems, growth in industrial gas applications, focus on emissions reduction. Major trends in the forecast period include increasing demand for lng cryogenic pumps, rising use in industrial gas handling, expansion of cryogenic infrastructure, growing focus on safety and reliability, enhanced pump efficiency designs.

The rising demand for liquefied natural gas (LNG) is expected to drive the growth of the cryogenic pump market. LNG is natural gas cooled to extremely low temperatures to convert it from a gaseous to a liquid state, and it plays a critical role in the operation of cryogenic pumps. Cryogenic pumps are specifically engineered to handle and transport liquefied gases at very low temperatures, making them ideal for the transfer and storage of LNG. For example, in July 2024, the U.S. Energy Information Administration, a US-based federal statistical agency, reported that LNG trade grew by 3.1% in 2023, reaching an average of 52.9 billion cubic feet per day (Bcf/d), an increase of 1.6 Bcf/d compared to 2022. Therefore, the increasing demand for LNG is expected to propel the growth of the cryogenic pump market.

Major companies operating in the cryogenic pump market are concentrating on the development of advanced solutions, such as high-efficiency cryogenic pump systems, to enhance operational performance, lower energy consumption, and address the increasing demand for hydrogen and LNG applications. Advanced cryogenic pump technologies refer to engineered pumping systems designed to manage ultra-low-temperature liquids with improved sealing mechanisms, greater durability, and optimized power usage to support the expanding clean energy and industrial sectors. For example, in January 2023, Nikkiso Cryo Pump Series, a Dubai- and UK-based provider of cryogenic pumping solutions, introduced a new addition to Nikkiso’s cryogenic pump lineup. These newly launched models are specifically designed to provide higher efficiency and improved performance in hydrogen and LNG operations, incorporating upgraded sealing technology and reduced energy consumption.

In July 2024, Flowserve Corporation, a US-based company that specializes in manufacturing flow control systems and aftermarket services, acquired the technology of NexGen Cryo for an undisclosed amount. This acquisition aims to enhance Flowserve's LNG product portfolio, strengthen its decarbonization offerings throughout the LNG value chain, and leverage NexGen Cryo's advanced pump technology to improve efficiency and reliability for LNG customers. NexGen Cryo's technology is an Arizona-based innovation focused on the engineering, design, and testing of cryogenic liquefied natural gas (LNG) submerged pumps and turbines.

Major companies operating in the cryogenic pump market are Ebara Corporation, Nikkiso Co. Ltd., Sumitomo Heavy Industries Ltd., Barber‑Nichols, CryoVation LLC, KRYTEM Cryogenic Systems, Vanzetti Engineering S.p.A., Xinxiang Chengde Energy Technology Equipment Co. Ltd., Cryostar SAS, Chart Industries Inc., Cryoquip LLC, INOXCVA, Hydro‑Pac Inc., Acme Cryogenics, Surrey Pumps Ltd., HSME Corp., Hangzhou Chuankong General Equipment Co. Ltd., Taylor‑Wharton International LLC, ACD LLC, Flowserve Corporation.

Asia-Pacific was the largest region in the cryogenic pump market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cryogenic pump market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cryogenic pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cryogenic pump market consists of sales of centrifugal cryo pump, piston or reciprocating cryogenic pumps, and submerged pumps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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