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Global cryogenics equipment market: 8.5% CAGR growth forecast between 2012-66

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Global Cryogenics Equipment Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-31 00:21:01
The Global Cryogenic Equipment market is to grow at a CAGR of 8.56 percent over the period 2012-2016. One of the key factors contributing to this market growth is the significant growth in the Major Applications industry. The Global Cryogenic Equipment market has also been witnessing the increasing R&D spending by vendors. However, the high dependency on limited key suppliers could pose a challenge to the growth of this market.

The global cryogenic equipment vendors have already invested a considerable amount of time and money in their R&D department for the expansion of their product portfolios. Vendors in this market are increasingly investing in their R&D division to provide better functionality and to meet the unsatisfied requirements of end-consumers. The R&D investments by the vendors have enabled them to capture a significant market share and gain a competitive edge over the other vendors in the Global Cryogenic Equipment market. Therefore, the increased R&D spending by market vendors is a positive trend that is expected to contribute to the growth of the market during the forecast period.

One of the major drivers in this market is the significant growth in the major application industries. The growth of these industries is expected to foster the demand for cryogenic equipment, thereby contributing to the growth of the Global Cryogenic Equipment market.

One of the key challenges in this market is the high dependency on limited key suppliers. As the market has very limited key suppliers the vendors in the market are susceptible to high risks, as they have to ensure balance in the demand and supply equation.

The key vendors dominating this market space are Beijing Tianhai Industry Co. Ltd., Chart Industries Inc., Cryofab Inc., Cryoquip Inc., and VRV S.P.A. Other vendors are Eleet cryogenics Inc., Eden Cryogenics LLC., JSC Cryogenmash, Midwest Cryogenic Inc., and Wessington Cryogenics Ltd.

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Mike King
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