Cryogenic Systems Market to Reach US$ 25.5 billion by 2032 - Future Market Insights, Inc.
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Monday, June 13, 2022
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NEWARK, Del., June 13, 2022 /PRNewswire/ -- The global Cryogenic Systems market is valued at US$ 12.9 Bn in 2021 and is expected to reach US$ 25.5 Bn by 2032, expanding at a CAGR of 6.5% between 2022 and 2032. According to Future Market Insights, market research and competitive intelligence provider, global Cryogenic Systems consumption has increased at a CAGR of roughly 5.1% between 2017 and 2021.
Key Points:
- According to Future Market Insights, market research and competitive intelligence provider, global Cryogenic Systems consumption has increased at a CAGR of roughly 5.1% between 2017 and 2021.
- The spike in demand for Cryogenic Systems across a variety of sectors, including electronics, healthcare, and power generation, has led to a rapid growth rate in the Cryogenic Systems market.
- Furthermore, use of Cryogenic Systems is expected to surge in the coming years owing to rising LNG production and strong demand for gases in the healthcare sector.
- The growing demand for cryogenic gases for medical applications will drive market expansion in the coming years.