Global Cryogenic Equipment Market Will Reach USD 22.7 Billion by 2022: Zion Market ResearchAccording to the … – Markets Insider

Sarasota, FL, Jan. 10, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Cryogenic Equipment Market (By Equipment Type: Tanks, Valves, Vacuum Jacketed Pipes, and Pump & Vaporizer; By End-User Industries: Chemical, Energy & Power, Food & Beverage, Oil & Gas, and Electronics; for Storage and Distribution Applications): Global Industrial Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, demand for global cryogenic equipment market was valued at USD 15.7 billion in 2016 and is expected to reach USD 22.7 billion by 2022, growing at a CAGR of 6.3% between 2017 and 2022.    

Cryogenic equipment houses and produces very low-temperature materials. Cryogenics, the study of very low temperatures, involves temperatures that are colder than those that can be attained with conventional refrigeration equipment. Cryogenic equipment is designed to reach ultra-low temperatures at a slow rate in order to prevent thermal shock to the components being treated. At this temperature, materials that are natural gases can be liquefied and several metals lose electrical resistance, as they get colder. Cryogenic equipment includes cryogenic storage boxes

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