The Cryogenic Technology Equipment Market refers to the industry and companies that manufacture and supply equipment used for cryogenic applications. Cryogenics is the study of very low temperatures and the effects of extreme cold on matter - below -150°C (123 K).

Cryogenic technology utilizes ultra-low temperatures to provide a wide range of industrial and medical solutions, such as in the preservation and storage of biological materials and tissues, natural gas and industrial gas liquefaction and transportation, electronics manufacturing, and for use in superconductors.

The global cryogenic equipment market was valued at $17.1 billion in 2021 and is expected to grow at a CAGR of 6.4% between 2022 and 2030. Growth factors include increasing demand from the healthcare sector for cryopreservation, MRI machines and proton therapy; rising technological advancements and innovations in cryogenics; and increased investment in research and space exploration. The major categories of cryogenic equipment include cryogenic tanks and containers, liquefiers, refrigerators, cold traps, gas purifiers and filters, etc. These are used across key end-use industries like healthcare, energy and power, chemicals, electronics, metallurgy, and aerospace industries.

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Most major players are focusing on new product development along with expanding operations across the globe, especially in developing countries in Asia and Africa. With immense future scope and opportunities, the cryogenic equipment industry is set for healthy and robust growth worldwide.