- Market to Grow at 8.56 per cent during 2012-2016
According to the latest research findings by the independent London-based global research firm TechNavio, Petrochemicals is one of the key end-user applications for the Global Cryogenics Equipment Market during the 2012-2016 forecast period.
As per research analysis, the Global Cryogenic Equipment market for petrochemical application will be growing at a CAGR of 11.23 percent during the forecast period, while the overall market growing at 8.56 per cent during the same period.
Factors like thermal stability and anti-corrosive nature of cryogenic equipment are leading to the increasing adoption of cryogenic equipments such as tanks and valves in various applications in the Petrochemicals segment, which is acting as a stimulant for the growth of the overall Global Cryogenics Equipment Market.
With key drivers like increasing investments in the LNG market and growth of major application industries, the market will be witnessing impressive growth in the future.
Speaking on this occasion, one of the senior analyst and co-author of this report said, “The leading vendors in the Global Cryogenics Equipment market include Chart Industries, Beijing Tianhai Industry Cryofab, Cryoquip, and VRV. The market is characterized by the presence of high entry barriers, which is restricting new players from entering the market. What needs to be seen is what incentives will governments be providing to smaller players to ensure a level playing field for all.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in order of importance.
If you are interested in more information on this topic and our upcoming research on the https://www.technavio.com/report/global-cryogenics-equipment-market-2012-… please send an e-mail to media@TechNavio.com.
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Cryogenics Equipment Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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